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Is there really a large number of asains in Didsbury? Where are they hiding?

Hard push to rent a flat for less than 800?? The most I've rented a 2 bed for is 750.

Most of my tenents I would say are in there mid to late 20's. some of them work in withington hospital and the cancer hospital. Others tend to work in the city center law firms and banks. A few work up the motherway in warrington.

Non of my tenents earn less than 30k

Cancer units hmmmmm....may come in handy.

Many forms of cancer....treatment still the same... .eradication....good luck with portfolio Rizo.

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Non of my tenents draw benifits that I'm aware of. Rents compared to house price's are historically low and there is plenty of room for them to grow.

Why do you think BTL are parasites they are hard working individuals who provide a service.

If they rent to parasites then they are sort of parasites although of course is the government is going to burn tax payers money - then why not take it.

That is the real reason why BTL is so profitable it is partly subsidised by working renters who therefore can not afford to buy

because their taxes subsidise some BTL's via other people's housing benefit so a) reducing the amount they can spend on a house and B) increase house prices.

However many renters voted Labour/Lib Dem/Tory so did vote for this system so can not complain.

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So since when can you compare a car to a house apart from both having doors and windows?

BTL's have driven up the price of houses for FTB's as, due to our screwed lending systems they can borrow more.

It will be nice to see changes in the laws for AST's towards tenants then we will have less cowboys, better service and a greater chance for those that want to own their own home.

Not forgetting that current legislation states that sometime in 2008 every new tenancy will require a "mini" HIP. I wonder what that will do for prices when you can judge the cost of your fuel against the rent of the property?

And both being possible to either buy or lease, both requiring maintenance, both for some people being a near essential good, both subject to an ever changing second hand market, both dependent on finance costs.

Why is it a screwed up lending system? Someone with more assets as collateral can borrow more? MADNESS!!! Banks aren't charities, their mission is not to make sure that everyone has a lovely house in la la land. They're out to make as much money for as little risk as possible.

The government is the only player that one can argue should be putting society first. Blame them for not introducing better laws or forcing through more house building, everyone else is just making the best they can for themselves.

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The government is the only player that one can argue should be putting society first. Blame them for not introducing better laws or forcing through more house building, everyone else is just making the best they can for themselves.

Or not controlling immigration and giving pregnant chavettes luxury housing so reducing the amount of housing.

BTW when I say luxury I mean more rooms than people in the house - luxury under Gordon Brown in London unless you bought pre 98/99.

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Numbers don't make sense - flats don't recently rent in didsbury for 600 quid. Are you sure you're not confused with burnage or withington? ;)

Secondly, how the phuq can you finance didsbury properties on £675 IO mortgages? where has you deposit come from?

thirdly you made an earlier comment about buying a decent 3 bed house for a third of what you paid for a 2 bed flat. That's big fat sweaty hairy ********. There's nowhere decent in manchester for those prices.

If you truly in the Didsbury ****** set, I shall see you in the Met at the weekend. Ciao

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And both being possible to either buy or lease, both requiring maintenance, both for some people being a near essential good, both subject to an ever changing second hand market, both dependent on finance costs.

Why is it a screwed up lending system? Someone with more assets as collateral can borrow more? MADNESS!!! Banks aren't charities, their mission is not to make sure that everyone has a lovely house in la la land. They're out to make as much money for as little risk as possible.

The government is the only player that one can argue should be putting society first. Blame them for not introducing better laws or forcing through more house building, everyone else is just making the best they can for themselves.

Well said.

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Is there really a large number of asains in Didsbury? Where are they hiding?

Hard push to rent a flat for less than 800?? The most I've rented a 2 bed for is 750.

Most of my tenents I would say are in there mid to late 20's. some of them work in withington hospital and the cancer hospital. Others tend to work in the city center law firms and banks. A few work up the motherway in warrington.

Non of my tenents earn less than 30k

You sound like a fairly standard BTL landlord from what you've said so I'd be really interested to hear how solid your business is in order to get an some hints as to how the rest of that market is doing. Do you, for example, cover all of your business outgoings from rent? How much of an interest rate hike could you take on your mortgages before getting in trouble? How much of a buffer do you have to fund major repairs if needed and so on?

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And both being possible to either buy or lease, both requiring maintenance, both for some people being a near essential good, both subject to an ever changing second hand market, both dependent on finance costs.

Why is it a screwed up lending system? Someone with more assets as collateral can borrow more? MADNESS!!! Banks aren't charities, their mission is not to make sure that everyone has a lovely house in la la land. They're out to make as much money for as little risk as possible.

The government is the only player that one can argue should be putting society first. Blame them for not introducing better laws or forcing through more house building, everyone else is just making the best they can for themselves.

A person who is working and buying their own home is more likely to fight to keep it than a tenant. After all it is the tenant who is paying most of the BTL mortgage. This would make me put the risk of borrowing up for a BTL and down for a FTB. Yes collateral will help but why would a BTL have more than a FTB (without making any assumptions)?

Yes the government do need to change the laws BUT we are all part of society and, "What goes around comes around".

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Hey

I'm a small BTL landlord in manchester didsbury area. Recently many of the other landlords have started to put up rents and many people can no longer afford / or want to pay them. Talking to many perspective tenents the figures they usually come up with is between 7.5 and 10%.

Originally i thought these were other BTL landlords who were suffering under the recent rate rises and had decided to pass the increases onto there tenent.

WRONG

There is one particular landlord who owns around 200 properties in the area who has decided to raise rents. Then other smaller usually BTL landlords have followed his lead.As for me I'm putting up the rent by 12% and usually end up accepting around 8%.

Just a thought - What makes you think that the landlord who owns around 200 properties isn't suffering financially with the rate rises and is forced to raise rents to keep solvent?

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I know its a bit off topic from the original post, but its seems a decent thread to ask this question:

If someone is renting but has no AST or any lease/contract of any kind, what are their rights? Is there any implied contract under the eyes of the law?

I ask as there is a young lass in my office who rents and her landlord just pops in her flat while she is out!!!!! Granted this was to check on a water pressure problem she phoned him over but it still seemed well out of order.

I have told her to move on elsewhere, but she says that she is getting a cheap rent on a decent flat.

What are her options? Sorry to have hijacked the thread but it didn't seem worthy of starting a new one

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A person who is working and buying their own home is more likely to fight to keep it than a tenant. After all it is the tenant who is paying most of the BTL mortgage. This would make me put the risk of borrowing up for a BTL and down for a FTB. Yes collateral will help but why would a BTL have more than a FTB (without making any assumptions)?

Yes the government do need to change the laws BUT we are all part of society and, "What goes around comes around".

Then I'm a little confused as to your view that BTLs are capable of borrowing more. I was of the opinion that they have a competitive advantage because they already have a bit of equity compared to FTBs, remove that and they're on a level playing field are they not?

A BTL is also more likely to just sell up and take the pain if the investment fails rather than stay in the house drawing the legal process out to the bitter end at great cost.

How's that return karma working out for you?

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Then I'm a little confused as to your view that BTLs are capable of borrowing more. I was of the opinion that they have a competitive advantage because they already have a bit of equity compared to FTBs, remove that and they're on a level playing field are they not?

A BTL is also more likely to just sell up and take the pain if the investment fails rather than stay in the house drawing the legal process out to the bitter end at great cost.

How's that return karma working out for you?

Exactly, screwed up lending system.

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