Wednesday, June 18, 2008
BTL is the UK subprime
BTL landlords are touching the 'void'
"More than 50 per cent of landlords admitted having experienced a "void" time when their property did not generate rent. As a result of these voids, 17 per cent of landlords missed a mortgage payment in the past 12 months – up from 9 per cent in quarter four 2007 and the highest level since the research began. still significant demand for the rental sector with people coming off fixed-rate mortgage deals and others selling their property portfolios amid credit uncertainty" Run for cover... Loads of contraddictions!
Posted by confused76 @ 08:52 AM (1071 views)
7 thoughts on “BTL is the UK subprime”
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Ah-so says:
“Six per cent of landlords said they had already bought a repossessed property and a further 65 per cent said they were interested in buying one.”
BTL is a debt-based business – purchases must be financed through borrowing. So how are BTL landlords proposing to borow to fund further purchases without enormous deposits?
inbreda says:
“BTL landlords are touching the ‘void'”
touching cloth more like.
Davros says:
The Bradford and Bingley share price reflects the future of buy to let.
sold out says:
[email protected]
You beat me to it “touching Cloth”.Classic LOL
str 2007 says:
The sentence 17% of landlords missed a payment because of a void.
If they’re running that close to the edge then there will be serious trouble ahead.
As the business is based on managing debt, a bad credit rating marks the beginning of the end.
debtfree says:
Yep, beat a few of us to it.
So to add on….. I bet landlords are finding it hard to keep the turtles head under reigns.
:o)
Still-waiting says:
inbreda – look up ‘touching the void’ in the viz online profanisaurus.Seems someone at the FT has a sense of humour!