Jump to content
House Price Crash Forum
Sign in to follow this  
canny man

Landlords Panicing

Recommended Posts

and so it came to pass. Another HPC prediction hits home.

Landlord.co.uk Warns of UK Landlords Panic Selling in Face of Bleak Winter Property Market

September 13, 2007 - Press Dispensary - On the back of its own recent industry research, the expert team behind specialist property portal, Landlord.co.uk (http://www.landlord.co.uk), is concerned about the number of UK landlords ‘panic selling’ their properties, in anticipation of bleak market prospects during winter 07/08.

Tim Warrington of Landlord.co.uk says: “Our in-house research suggests that many of the 14,000 landlords registered with our site are selling their properties at once. It seems that UK landlords are looking to buy more property but a lot have decided to cash in on their domestic investments, with some of them making £80,000 profit in six years from a simple two bed terraced house. They have decided that market conditions are looking bleak here, so they’re paying off debts and trying their luck abroad. However, many have failed to allow for capital gains tax, which has hit some hard.”

http://www.pressdispensary.co.uk/feed/991368.php

Share this post


Link to post
Share on other sites
He adds: “En masse, UK landlords are cashing in on the booming markets for holiday homes. Basically, they are bailing out of the UK and hitting the foreign markets as quickly as they can.

It does make sense to cash up in the UK and buy somewhere the crash has already happened.

It looks we're not going to have an interest rate-led panic though. That would have been the "big one", if LLs collectively couldn't afford their portfolios and needed out.

Share this post


Link to post
Share on other sites
“Too many landlords selling in the UK could send the property market into freefall, as many properties in the buy to let industry are going up for sale. We believe landlords should hold their nerve through these tricky times and look at the UK as a long term investment.

“We can understand landlords wanting to cash in on the money they’ve made over the last few years. Unfortunately, their desire to dump their UK properties may start a ‘domino effect’ with other landlords. If the majority follow suit, it could be very damaging for the UK housing market.”

Look at the logic here: We believe landlords shouldn't cash in on their own profits for fear of damaging other landlords' profits.

In fact, don't sell, in case there is "freefall"!!!

Not sure it would persuade me if I were a landlord considering selling!

;)

Share this post


Link to post
Share on other sites
Look at the logic here: We believe landlords shouldn't cash in on their own profits for fear of damaging other landlords' profits.

In fact, don't sell, in case there is "freefall"!!!

Not sure it would persuade me if I were a landlord considering selling!

Chuck in the fact that the statement is issued by a business that's dependant on landlords, and it's a cracking piece of comedy.

Share this post


Link to post
Share on other sites
So they're not in it for the long term then?

I wonder who on earth they're hoping to offload all their cruddy little shoeboxes onto.

Ooh! ME ME ME!! Please, can I!!??!?

Share this post


Link to post
Share on other sites
So they're not in it for the long term then?

I wonder who on earth they're hoping to offload all their cruddy little shoeboxes onto.

:lol:

It does make sense to cash up in the UK and buy somewhere the crash has already happened.

It looks we're not going to have an interest rate-led panic though. That would have been the "big one", if LLs collectively couldn't afford their portfolios and needed out.

Oh but you are so wrong.

It does seem to be the case that LLs can't afford their properties and that is the very reason that they are all trying to sell. It is probably partly to do with IRs (the banks' IRS, not the BOE's joke IRs) and partly to do with the value of their properties falling.

Panic stations!!!

:lol:

Share this post


Link to post
Share on other sites
Guest KingCharles1st

Is this not more a case of a 70 sumpthing couple with a 2/3/4/500k investment portfolio trying to put a finger in the hole of the dyke that is their entire spread betting/tax evasion projected return- as so cleverly suggested to them a few years ago by that lovely financial adviser of theirs- Tim Togo

Share this post


Link to post
Share on other sites
However, many have failed to allow for capital gains tax, which has hit some hard.”

Proof thefore that many of them are clueless muppets who were simply on for the next "get rich quick" scheme :angry:

How can they not know about capital gains tax??! - even I do and I know little (though by the looks of it I know more than most)

"In it for the long term" my ar*e they are, watch the stampede begin :blink:

Edited by lulu

Share this post


Link to post
Share on other sites
I wonder who on earth they're hoping to offload all their cruddy little shoeboxes onto.

I wonder this too. Near newcastle there are thousands of new-builds in slightly dodgy areas. I think they will be sold of cheap to the government for social housing. Once the HPI gleam has come off them no one will touch them IMO.

Phoney

Edited by PhoneyMcRingRing

Share this post


Link to post
Share on other sites
:lol:

Oh but you are so wrong.

It does seem to be the case that LLs can't afford their properties and that is the very reason that they are all trying to sell. It is probably partly to do with IRs (the banks' IRS, not the BOE's joke IRs) and partly to do with the value of their properties falling.

Panic stations!!!

:lol:

Don't forget, the joke BOE IR is higher then it has been since ..... ;) well since the Landlords invested...

Then the US sub prime forces rates even higher here... and we all know that the sub prime potential of the UK is much, oh.. so very much bigger then the US... and the US collapse is making the massive debt in the UK even so very much more unaffordable...

Edited by apom

Share this post


Link to post
Share on other sites

This is exactly the news I have been waiting for.

I thought it would be the big players dumping large portfolios back onto the market as the more "savvy" investors

ahead of the down curve.

.

It now looks more like including from this that it will be the more vulnerable BTL muppets who

start to feel the pinch and begin the sell off.

.

What does this mean for the institutional investors can they "ride the storm" or is it the

case that they are taking risks with other peoples money that they would not with their own?

.

ST

Share this post


Link to post
Share on other sites

Hopefully they will now buy abroad, and it will crash there too! :lol:

Or with any luck they will fire up a revolution of angry priced out natives.

Just to add, if they haven't sold by now, they are probably too late.

Share this post


Link to post
Share on other sites

Poor Timmy....looks like he will be having a few less clients soon. Can somebody please send round a box of choclates to cheer poor timmy up?

----------------------------------------

http://landlord.co.uk/news.html

Landlord.co.uk Warns of UK Landlords Panic Selling in Face of Bleak Winter Property Market

September 13, 2007 - Press Dispensary - On the back of its own recent industry research, the expert team behind specialist property portal, Landlord.co.uk (http://www.landlord.co.uk), is concerned about the number of UK landlords ‘panic selling’ their properties, in anticipation of bleak market prospects during winter 07/08.

Tim Warrington of Landlord.co.uk says: “Our in-house research suggests that many of the 14,000 landlords registered with our site are selling their properties at once. It seems that UK landlords are looking to buy more property but a lot have decided to cash in on their domestic investments, with some of them making £80,000 profit in six years from a simple two bed terraced house. They have decided that market conditions are looking bleak here, so they’re paying off debts and trying their luck abroad. However, many have failed to allow for capital gains tax, which has hit some hard.”

He adds: “En masse, UK landlords are cashing in on the booming markets for holiday homes. Basically, they are bailing out of the UK and hitting the foreign markets as quickly as they can.

“Too many landlords selling in the UK could send the property market into freefall, as many properties in the buy to let industry are going up for sale. We believe landlords should hold their nerve through these tricky times and look at the UK as a long term investment.

“We can understand landlords wanting to cash in on the money they’ve made over the last few years. Unfortunately, their desire to dump their UK properties may start a ‘domino effect’ with other landlords. If the majority follow suit, it could be very damaging for the UK housing market.”

- Ends -

Notes for editors

Landlord.co.uk was set up by businessman, Tim Warrington, and his bank manager, Bruce Biddle, in April 2006 to create a portal for property investors to buy, sell and rent in the UK and overseas. The website features property for sale, industry news, auction dates and a wealth of useful tips and advice for users. Landlord.co.uk is the biggest website of its kind in the UK with over 14,000 members – including homebuyers, landlords and anyone that owns property.

For further information, please contact:

Tim Warrington , Landlord.co.uk Ltd

Tel: 01299 861933

Email: tim@landlord.co.uk

Site: www.landlord.co.uk

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 350 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.