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Golden Shower

Btl Tale Of Woe In The North East

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Well, well, I had lunch today with a friend from the South. A few months ago he piled into BTL in the 'Boro, I thought he was nuts but chose not to air my veiws on new build apartments. Why should I? If it works out and he didn't invest under my advice he would be severley p*ssed off, wouldn't he?

Anyway, if any of you have ever been to the 'Boro (God forbid), you'll notice just how many new build "luxury" flats there is in the town. Luxury? What a joke, 'Boro is the last place that needs these places!

Anyway, much to my surprise he managed to let the flat out, which is no mean feat given the amount of flats there are up for rent there. Good for him, I thought, maybe it will work out. As it happens, his two tenants are fresh from out of school and not surprisingly are probably more concerned with going out on the lash than actually paying the rent.

:huh:

Oh yes, they are behind on the rent. But (!!!), my friend has managed to negotiate an increase in the rent to compensate for the arears in a new 6 month contract. Wow, what an attitude to risk! Not only does he have dodgy tenants but also has signed up for more punishment. God help him when he has to pay the laywers fees to get them evicted.

Glad it ain't me, that's fo' sure.

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Well, well, I had lunch today with a friend from the South. A few months ago he piled into BTL in the 'Boro, I thought he was nuts but chose not to air my veiws on new build apartments. Why should I? If it works out and he didn't invest under my advice he would be severley p*ssed off, wouldn't he?

Anyway, if any of you have ever been to the 'Boro (God forbid), you'll notice just how many new build "luxury" flats there is in the town. Luxury? What a joke, 'Boro is the last place that needs these places!

Anyway, much to my surprise he managed to let the flat out, which is no mean feat given the amount of flats there are up for rent there. Good for him, I thought, maybe it will work out. As it happens, his two tenants are fresh from out of school and not surprisingly are probably more concerned with going out on the lash than actually paying the rent.

:huh:

Oh yes, they are behind on the rent. But (!!!), my friend has managed to negotiate an increase in the rent to compensate for the arears in a new 6 month contract. Wow, what an attitude to risk! Not only does he have dodgy tenants but also has signed up for more punishment. God help him when he has to pay the laywers fees to get them evicted.

Glad it ain't me, that's fo' sure.

When they eventually do leave, they may well take everything (including light fittings) with them as well!

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Middlesbrough?

Oh my f**king god. :blink:

Which BTL properties did he buy and where? I keep an eye on my neck of the woods (Stockton, Yarm, Eaglescliffe and the spawning ground that is Ingleby Barwick (I couldn't believe how many pregnant women there were in Tescos in Ingleby Barratt when I went there last)

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(I couldn't believe how many pregnant women there were in Tescos in Ingleby Barratt when I went there last)

Cheers, I'll keep my bird away from Tescos just in case............. unless they go there to be milked or something crazy?

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Middlesbrough?

Oh my f**king god. :blink:

Which BTL properties did he buy and where? I keep an eye on my neck of the woods (Stockton, Yarm, Eaglescliffe and the spawning ground that is Ingleby Barwick (I couldn't believe how many pregnant women there were in Tescos in Ingleby Barratt when I went there last)

Good grief, Tesco will sell anything ! What is it, one in eight children born are from a tesco mum ? Is there a "value" mum ? Are they free range or council estate farmed ? What is the returns policy ? Is there some sort of twins deal, you know buy one get one free ? Do they deliver (pun intended) ? How many clubcard points is this worth ? Is it local produce or do they get them from abroad ?

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Middlesbrough?

Oh my f**king god. :blink:

Which BTL properties did he buy and where? I keep an eye on my neck of the woods (Stockton, Yarm, Eaglescliffe and the spawning ground that is Ingleby Barwick (I couldn't believe how many pregnant women there were in Tescos in Ingleby Barratt when I went there last)

It's one of the zillions of new build flats near Acklam. I think it's in this block;

Eton Gardens

I think their logic is now just to keep the tenants because there are just so many BTL's empty there. They no doubt wanted "young professionals" to rent it to...in Middlesbrough!

Good grief, Tesco will sell anything ! What is it, one in eight children born are from a tesco mum ? Is there a "value" mum ? Are they free range or council estate farmed ? What is the returns policy ? Is there some sort of twins deal, you know buy one get one free ? Do they deliver (pun intended) ? How many clubcard points is this worth ? Is it local produce or do they get them from abroad ?

:lol:

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Good grief, Tesco will sell anything ! What is it, one in eight children born are from a tesco mum ? Is there a "value" mum ? Are they free range or council estate farmed ? What is the returns policy ? Is there some sort of twins deal, you know buy one get one free ? Do they deliver (pun intended) ? How many clubcard points is this worth ? Is it local produce or do they get them from abroad ?

Don't joke Boss Cat I know a chav who gave birth to a blue and white striped baby.

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When they eventually do leave, they may well take everything (including light fittings) with them as well!

Which reminds me of a story I heard from a girl I work with. She rents a property with her hubby, they got a letter through the post about a month ago from the bank that had the mortgage over that property saying it was being repossessed as the landlord was in arrears and they had to be out in three weeks - the landlord kept telling them not to do move out because it will all be sorted. Anyway, a short visit to the CAB later they were under the impression that the bank could not just evict them because the house was being repossessed - so a lot of digging later they found out that all off the landlords 20 or so properties were being repossessed as he hadn't paid the mortgage on any of them and as he had used regular self cert mortgages for all properties - not a BTL mortgage - under the circumstances the bank could evict.

They have absolutely 0% chance of recovering their deposit from the landlord and so by the time they did leave the house was a complete shell. Everything had gone.

Makes you wonder how many landlords do not have BTL mortgages. (BTW this was Cambridgeshire area)

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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