Saturday, December 15, 2007


James Daley: It's time to batten down the hatches

In fact, in spite of the happy headline on B&B's press release, the lender's statistics tell the true story very well. Apparently, 95 per cent of landlords are positive about rental yields in 2008. No wonder, because as house prices start to nosedive, the one upside for the buy-to-let landlord is that rents will represent a bigger proportion of their properties' values, hence bigger yields.

Posted by cheeky charlie @ 07:48 PM (5785 views)
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3 thoughts on “Unbelievable

  • Cheekie Charlie says:

    “Rental yields have fallen so low in many parts of the country over the past couple of years – under 5 per cent in parts of the South-east.”
    Check out IR on fix rate bonds, they’re soaring! Halifax will now give you 7.05% on a 3 month bond thats 5.5% after 20% tax. and unlike BTL your asset doesn’t deppreciate. The banks are desperate for your money and this time LIBOR not HPI is racing skywards. Ho,ho, ho.

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  • Dohousescrashinthewoods says:

    Splendid article, and concise, too. None of this imprecise, rambling, undefined fear.
    Again, I don’t feel I can add much – as straightforward as any good comment on this site.

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    “So, when a press release from Bradford & Bingley (the UK’s largest buy-to-let mortgage lender) landed in my inbox this week, boasting that Britain’s landlords are “upbeat” about the prospects for the residential-property sector in 2008, it finally became abundantly clear to me just how bad things are looking for the UK housing market over the next 12 months.”

    Totally agree! When i read that press release i could not believe my eyes. Unprecedented!!! UK banks have never never never never gone so low. A sign of desperation, illogical naivety, unintended comedy (a la Comical Ali) and at the end of the day a false statement since the BTL sentiment is ALL TIME LOW, as many other surveys demostrate.
    B&B will cease existing as an independent entity before the end of the year, being the second bank aquired by HM Treasury in 2007.

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