Monday, March 31, 2008

Is there still somebody who does not believe BTL is dead?

RBS launches buy-to-let mortgage cull

"Royal Bank of Scotland and Natwest are to increase the minimum size of deposits that landlords must pay from 15 to 25 per cent of a property's value from the end of today" that means an automatic 40% reduction of the funds available to the BTL so called investors. Together with the disappearing of the inflated valuations by complacent surveyors, that means: THE PARTY IS OVER!!

Posted by confused76 @ 04:35 PM (604 views)
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13 thoughts on “Is there still somebody who does not believe BTL is dead?

  • Ding Dong! The Witch is dead. Which old Witch? The Wicked Witch!
    Ding Dong! The Wicked Witch is dead.
    Wake up – sleepy head, rub your eyes, get out of bed.
    Wake up, the Wicked Witch is dead. She’s gone where the goblins go,
    Below – below – below. Yo-ho, let’s open up and sing and ring the bells out.
    Ding Dong’ the merry-oh, sing it high, sing it low.
    Let them know
    The Wicked Witch is dead!

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  • Single Speed says:

    But what about “Let to Buy” is this dead too ?.This is where you let in stead of “forced” selling-up ! .

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  • Oh Yeah !

    Keep it right there baby !

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  • Is there still somebody who does not believe BTL is dead?

    Krusty and Philth.

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  • The boys at Paragon (LOL) believe all is well

    John Heron, director of mortgages at Paragon, says: “Large scale landlords dominate buy-to-let, and they have a very different view of the market from the short-term speculator – some of whom invested without a great deal of thought in new build properties, which they may now be having to sell into a more difficult market.”

    I’ll post the whole article under a new heading

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  • Jack
    good posting! i will go and read the article.

    Though I must say I am ok with John Heron’s view that professional landlords may fare quite well also in a downturn. But I do not care.
    What I care about are the hundreds of small 1-to-10-property [email protected] who are gonna lose their shirt and I will go buy my home at an Allsop auction from them. So for a change, I agree with John Heron

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  • mark wadsworth says:

    Top stuff. Where’s the chap who say “Mwuah ha ha ha”?

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  • Landedgentry says:

    I still crack up everytime I think of Stuart Law being the sole voice of dissent at that conference a week or so ago, insisting that prices wil continue to rise and the BTL’s “happy ending” followed by confused76’s MWWUAHAHHA HAHAH AHHA HAA AH.

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  • That s me

    MWAHHAH AHHAHAHAHH AHHAHAHAHHA AHAHHAHHAHA

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  • Don’t encourage him..!

    There’s going to be an awful lot of BTL fixes going onto SVR’s

    – That’ll hurt!

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  • I should think we’ll all be borrowing confused76’s MWUAHAHAHAHAHAHAAA soon.

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  • mark wadsworth says:

    C76, thanks, you do it so much better!!

    Has anybody spotted Elvis on the Moon yet? (a quote from the Saturday Express article that really stood out)

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  • crash bandicoot says:

    It must be about time for some numpty to suggest that with a 25% deposit BTL will become profitable because the rent will actualy cover the mortgage.

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