Jump to content
House Price Crash Forum

National Homebuyers: Buy-to-let In Crisis


Recommended Posts

a major VI like NH starts talking the BTL market down.

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

http://www.ukprwire.com/Detailed/Real_Esta...sis_10541.shtml

Real Estate: National Homebuyers: Buy-to-let in crisis

Previous Release

Next Release

National Homebuyers: Buy-to-let in crisis

The UK buy-to-let sector is in crisis, according to a new report by the Telegraph.

[uKPRwire, Thu Oct 04 2007] It shows that the average new-build buy-to-let property has decreased in value by around 40 per cent in the last 12 months.

It means that investors are losing thousands of pounds on their properties, which is likely to lead to large numbers of people running into financial difficulty.

Julian King of National Homebuyers, the UK's leading fast property purchase firm, says "We have received so many calls recently from landlords looking for a fast sale that it is obvious that the BTL market was unstable.

"The Telegraph's figure of a 40 per cent fall is astronomical. BTL landlords currently clutching tightly to their would-be profit centre would be advised to sell the property quick".

National Homebuyers guarantee to make a formal offer to purchase any property in the UK from vendors who need a quick property sale.

The Telegraph also reports that repossessions of new-build buy-to-let flats are on the increase in prominent areas such as Manchester, Leeds and Birmingham.

The apparent crisis could lead to a surge in quick property sales as investors attempt to recoup as much of their investment as they can.

"I think there are tens of thousands of people out there who like me jumped on the apartment bandwagon thinking they were on to a winner. Now they are feeling the pain," Matthew Loades, a buy-to-let investors who is losing cash on his property, told the newspaper.

It is thought that much of the problem is down to high interest rates which have left landlords unable to cover their buy-to-let mortgage costs with rent alone.

Link to post
Share on other sites

Has anyone got any anecdotes of how much these property companies actually pay?

I would guess that its lower than the market rate but it would be interesting to see how low they go. This would then give some indication on how low you may be able to pick up some places for. Bit similar to the OP on this thread Worth writing to estate agent....

Link to post
Share on other sites
a major VI like NH starts talking the BTL market down.

A VI for what??

It would appear from your cut & paste that they are a BMV specialist, and it will therefore be in their interest to claim apolacyptic scenarios to get the property on the cheap!!

A VI, yes, but not for property ramping/HPI !!

Link to post
Share on other sites
Has anyone got any anecdotes of how much these property companies actually pay?

I would guess that its lower than the market rate but it would be interesting to see how low they go. This would then give some indication on how low you may be able to pick up some places for. Bit similar to the OP on this thread Worth writing to estate agent....

The great thing is that whatever they pay should become the new market rate for everything else. This is effectively the problem with CDOs and MBSs - none of the banks want to sell one publically else they (and everyone else) would have to revalue (mark to market) their holdings too.

Emperor's new clothes anyone ?

Link to post
Share on other sites
Has anyone got any anecdotes of how much these property companies actually pay?

I would guess that its lower than the market rate but it would be interesting to see how low they go. This would then give some indication on how low you may be able to pick up some places for. Bit similar to the OP on this thread Worth writing to estate agent....

You don't need anecdotes - look at their websites. Ones I have looked at say 'we pay 75% of the market price'.

Nice and simple eh? Anyone want to sell me a house for 75% of its current value?

Link to post
Share on other sites
40% fall in newbuild prices? Why aren't we seeing 'CRASH' emblazoned across the front page?

I think there is a gentleman's agreement in the medja that the "Crash" announcement as front page news is a Sun exclusive. Until the conscience of the sheeple print it, its not "official." When they do eventually print the C word in big bold caps on the front page the stampede will begin and the sound of For Sale boards being hammered together will sound out accross the land. Its all about sentiment and the Knicker Press hold the trigger.

Edited by Realistbear
Link to post
Share on other sites
[uKPRwire, Thu Oct 04 2007] It shows that the average new-build buy-to-let property has decreased in value by around 40 per cent in the last 12 months. It means that investors are losing thousands of pounds on their properties, which is likely to lead to large numbers of people running into financial difficulty.

quality stuff, more pls :lol:

Link to post
Share on other sites
INSIDE TRACK?

Do they still run those ridiculous adverts?

The company and its clients must be in a severe crisis by now

According to their website they are still going strong - new offering free seminars although these are probably a brainwashing session to make you part with the £££ for the 'real' information that is gonna make you £££millions. Fancy going along for a laugh and asking some real searching questions...

Link to post
Share on other sites
According to their website they are still going strong - new offering free seminars although these are probably a brainwashing session to make you part with the £££ for the 'real' information that is gonna make you £££millions. Fancy going along for a laugh and asking some real searching questions...

These free sessions are indeed a brainwashing session to get you to part with thousands of quid to attend the real sessions. I have several acquaintances who are recent Inside Trackers and its just like they have had their brain fried and reprogramed. They come out speaking in a weird new way (reminiscent to me of the multi-level marketers you used to meet hanging around in hotel lobbies a few years ago). They have total confidence that they will succeed and prosper. One of them is going to 'retire' from his council job next year aged 40. He's ordered an off-plan apartment in Spain. He seems desparate to let everyone know that he's now a property tycoon. I wonder how long he will last.

Link to post
Share on other sites
These free sessions are indeed a brainwashing session to get you to part with thousands of quid to attend the real sessions. I have several acquaintances who are recent Inside Trackers and its just like they have had their brain fried and reprogramed. They come out speaking in a weird new way (reminiscent to me of the multi-level marketers you used to meet hanging around in hotel lobbies a few years ago). They have total confidence that they will succeed and prosper. One of them is going to 'retire' from his council job next year aged 40. He's ordered an off-plan apartment in Spain. He seems desparate to let everyone know that he's now a property tycoon. I wonder how long he will last.

IT keep sending me `newsletters` by email, even though I told them to f*** off a long time ago. Managed to get my £2500 back after - HEAD HANGS IN SHAME - I went to one of their seminars; worse still, people were singing up £6.5 grand+120p/month to become `VIP members`. The CEO, T McKay is a tosser of the first order. :(

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...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 442 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%



×
×
  • 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.