Tuesday, November 20, 2007
Mwhauauuuu auuuuuauuhhhhhahhhh
Lender's woes send chill through 'try-to-let' market
"It shouldn't be called buy-to-let, it should be called try-to-let. The whole industry needs a rethink.' The buy-to-let market has grown strongly in recent years on the back of hundreds of thousands of private investors snapping up flats and houses to rent. However, there are increasing signs that rents are falling and many buy-to-let investors are not making enough money from their tenants to cover their mortgages
Posted by confused76 @ 02:08 PM (1287 views)
10 thoughts on “Mwhauauuuu auuuuuauuhhhhhahhhh”
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yorkshireman says:
This is a nice find C76. It shows how idiotic people have been to think they can make a fortune with little or no effort. Maybe just the human condition. Doubtless they will try and pin the blame on everyone but themselves. I do not worry about the “investors”, but I am concerned about may happen to some of the tenants as they are the real pawns in the game.
On a separate note, I always raise a smile when I see your headers. As the season of goodwill approaches, maybe you can add ho! ho! ho! as well.
Best wishes
p. doff says:
Yep, but the sheeple are still buying them.
inbreda says:
what – with the mortgages that Northern Rock aren’t able to give them because they can’t get finance? Don’t think so
p. doff says:
Plenty of solvent lenders around still happy to lend money on BTL. Done several over the last few days including Birmingham Midshires, Mortgage Works, Mortgage Express, Bank of Scotland.
We were quiet a couple of weeks ago but it seems to be getting busier again.
confused76 says:
P.doff
sure the market has not stopped, number of sales are just 30% versus last year
but the dream of the btl, i.e. having someone else buying property for you, is proving for what it is: a pipedream
here in London, deluded btletters are trying (in vain) to raise rents
a new glut of properties (to rent) is expected to hit the market when sellers withdraw them because cannot achieve asking price
expected rent crash after Christmas
confused76 says:
P.doff
sure the market has not stopped, number of sales are just 30% versus last year
but the dream of the btl, i.e. having someone else buying property for you, is proving for what it is: a pipedream
here in London, deluded btletters are trying (in vain) to raise rents
a new glut of properties (to rent) is expected to hit the market when sellers withdraw them because cannot achieve asking price
expected rent crash after Christmas
In short BTLers are doomed and that’s just great news.
dohousescrashinthewoods says:
Rent crash after Christmas – my dream. Looking to rent something nice and cheap then, as opposed to something expensive and disgusting, which seems to be the current flavour of the market (or reasonably well presented, but minuscule and extortionate)
the northerner living in oz says:
What these buy to let parasites forget is that in the U.K rents are as high as the market will stand.
New labour has been so good a suppressing wages of the typical worker,s
Uncontrolled Imigration ,
They simply cannot afford the rent increases
as the credit crunch causes the economy begin to contract peaple will reluctantly
move back in with there parents rather than pay an rent increase demanded by landloard,s
as the tax revenue from stamp duty decreases due to the stagnant and or falling market
The clowns gordon brown and co will bring in laws to limit costs to the benifit system
housing benifit , dole disability etc.
courts will start to fill up with evitction proceddings due to unpaid rent
The buy to let Landloards may win the cases but will not see a penny of the unpaid rent.
The enevitable decline of the BTL parasites begins
bidin'matime says:
Dohouses – keep your eyes open – there are great bargains to be had – the rent we pay is about 2%-2.5% of the property value, enabling us to live in the house of our dreams, without having to wait for prices to fall! Good hunting!
sold out says:
Confused76:
i love they way your dr evil laugh has become a lot more manic this week.