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cynic

Btl On R4

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..on 'you and yours' John Waite item at around 12:30.

Could be another bear banquet of BTLers misfortunes and I think something on one of BTL promotion rackets....I'm just going to get my bib .

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This is a must listen :lol::lol:

One born every minute.

There is a interview with a " cuddler " :lol:

" Surprised when holdiay let wasnt let 365 days a year " :lol:

" buying properties without viewing, off plan " :lol::lol:

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I have no sympathy for this lot.

Greed + stupidity = well-deserved ruin.

" Duty of care to these people " :lol::lol::lol::lol:

These middle england baby boomers wanted to profit from property at the detriment to the younger generation that had been priced out of the market and forced to rent these flats.

They deserve everything they get for being so greedy and stupid :blink:

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Breathtaking thievery and stupidity - it's time to revive the stocks for both categories. Cuddlers and Anthony Mckay (whaddac**t) need a stiffer punishment. I liked the way he legitimised his racket on the 'discounted' prices by his reference to the ROYAL institute of chartered surveyors as reliable valuers. No nods and winks there.

(edit: available on listen again - easy to navigate there)

Edited by cynic

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Guest DissipatedYouthIsValuable
" Duty of care to these people " :lol::lol::lol::lol:

These middle england baby boomers wanted to profit from property at the detriment to the younger generation that had been priced out of the market and forced to rent these flats.

They deserve everything they get for being so greedy and stupid :blink:

I'm so glad my parents aren't morons.

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SO many people STILL fall for the smart suit, website and guff from these scammers.

Whats worse, is that BANKS supported the whole thing.

They are supposed to be experts!

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" Duty of care to these people " :lol::lol::lol::lol:

These middle england baby boomers wanted to profit from property at the detriment to the younger generation that had been priced out of the market and forced to rent these flats.

They deserve everything they get for being so greedy and stupid :blink:

My dad said a similar thing to me in the context of - he's mid sixties, took out an IO for ten years with NR in April 2007. He said, "I expected a degree of protection.", he's coming to the end of his fix rate and can't remortgage, has to work full time in a supermarket to pay the interest.

I said, where is the "degree of protection" for my generation, priced out or renting run-down dumps, putting families on hold or working to an early grave all because of bank greed and dumb as shit consumers who watch too much TV and can't think for themselves?

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Listening to that presentation from Inside Track, all you have to do replace the word " Property " with " Stocks " and you have the same story line of 1928 - 1929 and we all know how that ended.

" Stocks only ever go up "

" 10,000 pound down, 10 x leverage = 100,000 investment "

" Returns mutiplied by the leverage "

They forget to mention what happens to the leverage on the way down :blink:

Im sure lots of these so called investors will be introduced to a new friend called " Margin Call " before this ends :lol:

I cant believe these guys know they have been duped but will still sit there like frightened rabbits, feeding more money into the hole because they still believe the tripe that the slick salesman gave them that house prices only ever go up in the long term. If they had any sense they would cut their losses now because its going to get worse evey year that they leave it and they will end up in total poverty.

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I cant believe these guys know they have been duped but will still sit there like frightened rabbits, feeding more money into the hole because they still believe the tripe that the slick salesman gave them that house prices only ever go up in the long term. If they had any sense they would cut their losses now because its going to get worse evey year that they leave it and they will end up in total poverty.

They're incapable of doing the simple maths. Instead they're relying on Mckay's colourful interpretation of these losses as "supplementing their investments" while many, perhaps all of them, are relying on the market picking up sometime soon.

They'll only be able to make sense of it when it's too late.

It's stupefying that so many of these people actually paid a fee in the thousands for the privilege of being fleeced.

Apparently the FSA can't regulate "without being told to do so by the government"

What a scream!

http://www.bbc.co.uk/radio/aod/mainframe.s...o4/facethefacts

(nudge 2 minutes in.)

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" Duty of care to these people "

A duty of care is something employers have towards their employees.

It's not something a bunch of snake oil salesmen like Inside Track are even aware exists, let alone practices.

Peoples gullibility never ceases to amaze me!

(By the way, does anyone want to buy my Leeds luxury apartment off-plan contract from me at cost price? Oh, and i've got a 2 bed Spanish Costa off-plan up for grabs as well)

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(By the way, does anyone want to buy my Leeds luxury apartment off-plan contract from me at cost price? Oh, and i've got a 2 bed Spanish Costa off-plan up for grabs as well)

Yes please. I would be prepared to offer you 20% over what you are asking because property prices are going to recover by Christmas as everyone scrambles around like a bunch of rabid dogs trying to buy their loved ones a house for Xmas.

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Yes please. I would be prepared to offer you 20% over what you are asking because property prices are going to recover by Christmas as everyone scrambles around like a bunch of rabid dogs trying to buy their loved ones a house for Xmas.

No me me me me

I will offer 30% more than him.

Now JohnnyB, you will only be able to get this for 50% more.

Muwahahahahahahaha.

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At 30....at 30....at 30....do i hear 35?

This is a Leeds luxury apartment going at cost price Ladies and Gentlemen.....

:lol:

Edited by OLDFTB

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Guest sillybear2
Breathtaking thievery and stupidity - it's time to revive the stocks for both categories. Cuddlers and Anthony Mckay (whaddac**t) need a stiffer punishment.

Why though, they were simply pushing on an open door, they didn't force these people to attend these seminars, slap down £2500 then sign on the dotted line for £1m worth of property, I'm sure they could have walked away on countless occasions if they had any doubts. I don't think Inside Track had some form of mystical powers of persuasion, we've long complained about them on this site, but it's not like they were marching people off under duress to take part in their evil schemes, thinking people walk away or don't even consider it.

The only failing I see is peoples inability to control their inner greed or think for themselves, they need to hold a mirror up. Having said that, what a way to learn a lesson, compared to most pyramid schemes Inside Track was a corker given the levels of leverage and debt involved, we're not talking about some perfume MLM scheme where the figures would be in the hundreds of pounds. People are now locked into negative cash flows on rapidly depreciating assets, add in a few more years of falling house prices and a couple of mortgage resets and the fun really begins!

Again, if they were power selling double glazing to old dears then I'd have some sympathy for the 'victims', as it stands they were simply handing rope to a bunch of greedy sh*theads that didn't want to work for a living, the punters got what they deserved for being so empty headed. There is no such thing as a free lunch.

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When we reach adulthood, we can either take responsibility for our actions or resign ourselves to an institutional life, be it prison, permanently on benefits or in a mental hospital.

Being greedy or gullable is not a defence and certainly isn't a reason to be bailed out by those who didn't take the risk.

"Sympathy" is a word found mid-way between "sh1t" and "syphillis" in my dictionary.

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Why though, they were simply pushing on an open door, they didn't force these people to attend these seminars, slap down £2500 then sign on the dotted line for £1m worth of property, I'm sure they could have walked away on countless occasions if they had any doubts. I don't think Inside Track had some form of mystical powers of persuasion, we've long complained about them on this site, but it's not like they were marching people off under duress to take part in their evil schemes, thinking people walk away or don't even consider it.

The only failing I see is peoples inability to control their inner greed or think for themselves, they need to hold a mirror up. Having said that, what a way to learn a lesson, compared to most pyramid schemes Inside Track was a corker given the levels of leverage and debt involved, we're not talking about some perfume MLM scheme where the figures would be in the hundreds of pounds. People are now locked into negative cash flows on rapidly depreciating assets, add in a few more years of falling house prices and a couple of mortgage resets and the fun really begins!

Again, if they were power selling double glazing to old dears then I'd have some sympathy for the 'victims', as it stands they were simply handing rope to a bunch of greedy sh*theads that didn't want to work for a living, the punters got what they deserved for being so empty headed. There is no such thing as a free lunch.

We're presented here with olympian displays of both gullibility and guile and I think both victims and perpetrators need pelting with rotten veg. It's all very well leaving the stupid to their own devices but this last property boom was destructive in the extreme. Scams like these breathed new life into HPI stealing extra years of productive and happy life from many.

Ok, if you believe these idiots have had no impact then, yes, it's just a side show, like double glazing, who cares. In my view, A. Mckay and his quarry have been equally part of the problem, so it comes down either to eugenics or a recognition that there exist guilty parties who need to be regulated out of existence. Thieves and fools together have dragged this out almost beyond endurance.

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Can't believe these babyboomers were such suckers and didn't do their own research. A well presented seminar to relief you of your money. Not only did they buy overpriced property, they paid Inside Track for the privelidge to do so. I can't believe they got suckered into the rental returns.

I love the paid CUDDLERS,(Inside Tracks minglers), the crowd minglers to say that they are doing well . Reminds you of the overseas Time Sharing sales. eg where the audience out so they are in a trance and sign here for 1 millions pounds worth of property.

Inside Track has gone bust, the new company is called "Instant Access " ??? wow you can get 15% discounts on new builds in Clapham now in the CREDIT CRUNCH .Apparently at a local EA you can get upto 35% off, looks like Instant Access are upto their old tricks . :lol::lol::lol::lol:

Edited by joey

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Guest sillybear2
We're presented here with olympian displays of both gullibility and guile and I think both victims and perpetrators need pelting with rotten veg. It's all very well leaving the stupid to their own devices but this last property boom was destructive in the extreme. Scams like these breathed new life into HPI stealing extra years of productive and happy life from many.

Ok, if you believe these idiots have had no impact then, yes, it's just a side show, like double glazing, who cares.

Whilst no doubt part of the frenzy I think Inside Track fed off rather than drove the boom, hence their potentially limited impact to those new build flats rather than the broader market, obviously these slums will litter our landscapes for decades to come but at least they're a kind of monument to folly. The fountainhead of this boom was cheap money and lax lending, Inside Track was just another sponge set up to mop that up.

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A duty of care is something employers have towards their employees.

(By the way, does anyone want to buy my Leeds luxury apartment off-plan contract from me at cost price? Oh, and i've got a 2 bed Spanish Costa off-plan up for grabs as well)

Yeah, go on then. 50k the pair.

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The flat discount phenomenon was huge and it wasn't just Inside Track that did it, there were countless other companies pushing these.

Ultimately the builders were at fault for this. The surveyors would have never believed a property broker like Inside Track on thing like values and rents, which ultimately determined the financing arrangements.

The builders let the properties through on the land registry at gross price and then gave the discount post completion.

This allowed 100% financing give or take a few thousand for the buyer who could then 'leverage up' to buy even more.

This led to over supply of investor properties in each block that ran these schemes, without the tenants to buy them this drove rents down further and left numbers of flats empty which pushed down prices.

The credit crunch was the final nail in the coffin. It was you sub prime lenders that didn't have rental calculations of 125% of mortgage payments that mainly lent on these unless the rent was grossly inflated. BTL rates went from 5% to 6% and loan to values went from 85% down to 75% in a space of a few months.

This means that now all of these people will have to pay the standard variable rate for a few years to come.

The problem though is that your average BTL investor is only a few years away from retirement. If they could hold on for 5 years they would probably be OK, places like Manchester for example will continue to grow despite any recession, they are not building any new developments now so eventually these properties will come back. But for most it will be too long.

Edited by bobby9983

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  • 399 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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