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Frank Hovis

Canary In The Coalmine

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It looks likely that inner-city BTLs and coastal letting apartments will go the same way as these Detroit houses that people won't take as a gift.

But there is one category of these that already has gone this way - timeshares.

These are BTL-lite. Typically sold for £20k with promises not only of cheap holidays but of rental income when you're not using it and a capital gain when you come to sell.

Finally people have woken up to the fact that the income isn't there, the gain isn't there, but the annual management fee is.

There have now been several letters in the financial press where people have not only found themselves unable to sell, but unable to literally give away these "investments". Suggestions have ranged form "write-in if you want a timeshare for free and we'll put you in touch" to "transfer this to somebody you meet on your next foreign holiday, give them a few quid, and let the manangement company try to trace them".

So the investment has actually turned into a liability.

Should there be a new public education film: "Kids, if a man in a suit offers to give you a BTL say no thankyou then run home and tell your parents."

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  • 293 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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