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)
13 thoughts on “Is there still somebody who does not believe BTL is dead?”
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paul says:
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!
Single Speed says:
But what about “Let to Buy” is this dead too ?.This is where you let in stead of “forced” selling-up ! .
wage slave says:
Oh Yeah !
Keep it right there baby !
Motty says:
Is there still somebody who does not believe BTL is dead?
Krusty and Philth.
jack c says:
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
confused76 says:
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
mark wadsworth says:
Top stuff. Where’s the chap who say “Mwuah ha ha ha”?
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.
confused76 says:
That s me
MWAHHAH AHHAHAHAHH AHHAHAHAHHA AHAHHAHHAHA
uncle tom says:
Don’t encourage him..!
There’s going to be an awful lot of BTL fixes going onto SVR’s
– That’ll hurt!
paul says:
I should think we’ll all be borrowing confused76’s MWUAHAHAHAHAHAHAAA soon.
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)
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.