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ScaredEitherWay

Btl Landlords Being Caught Out

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Guest Yeahbutnocrash

Maybe in certain (or most) circumstances LL's should be made to use a letting agent who would then oversee these type of aspects to help ensure it's done above board

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Maybe in certain (or most) circumstances LL's should be made to use a letting agent who would then oversee these type of aspects to help ensure it's done above board

I've seen talk of them having to be licensed. That'd sort it out. . . with the usual need for expensive Govt departments to be set up - with high paid staff, expensive buildings, training schemes, pensions .... so they can instruct expensive branding and marketing departments/organisations to produce masses and masses of leaflets telling people all about it ... and freephone lines where you can phone for advice - where you don't actually get advice at all, but they offer to send you out the lovely glossy leaflets that you won't understand.

Shame really. Nothing's easy and cheap and works because the govt **** it up.

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"As the market slows and interest rates rise, many are find their plans are unachievable and are contacting us for a quick sale of their property," he added.

No, no, no, no. This isn't long term!!

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I've seen talk of them having to be licensed. That'd sort it out. . . with the usual need for expensive Govt departments to be set up - with high paid staff, expensive buildings, training schemes, pensions .... so they can instruct expensive branding and marketing departments/organisations to produce masses and masses of leaflets telling people all about it ... and freephone lines where you can phone for advice - where you don't actually get advice at all, but they offer to send you out the lovely glossy leaflets that you won't understand.

I see that you have lots of experience! :o

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"Quick property purchase firm National Homebuyers' director Julian King says his firm can offer a lending hand:"

But BBC Watchdog hav edrawn our attention to what they really offer. From the FT

In the Doghouse: National Homebuyers

But the first thing you must do if you want the company to buy your house is to pay for an independent survey costing around £400 to value the property.

That all sounds like usual behaviour but the survey organised by National Homebuyers is done from outside the house and there is no visit inside the property.

In addition, once the survey is done it is non-refundable – no matter what offer is made to the homeowner or what value

is placed on the property. So if the offer you are made is well below the asking price, the £400 that you shelved out for the survey will be money down the drain.

or as a MoneySavingExpert contributor put it:

"They have just been on Watchdog - Don't touch them with a bargepole! I seems they will offer at least 30% below market value and when you are ready to exchange they will gazunder you again!

Stay well away!"

Talk about rock and a hard place.

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In addition, once the survey is done it is non-refundable – no matter what offer is made to the homeowner or what value

is placed on the property. So if the offer you are made is well below the asking price, the £400 that you shelved out for the survey will be money down the drain. [/color]

Well that answers my question as to how these firms make money. They charge £400 for a drive-by survey (net profit c£350) and then make an insulting offer.

They either buy your house for peanuts or make a fortune from surveys.

Why didn't I think of doing this?

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