Wednesday, June 25, 2008

The proBTL media offensive is in full swing

Smart landlords are snapping up desirable properties

"Amateur landlords who borrowed wisely and put their money into well-located properties, with tenant-pleasing features, such as proximity to public transport and neutral decor, are doing OK, thank you." We should have pity of people like Anne Ashworth who will never financially recover for having bought overpriced properties in 2005, 2006 and 2007. Yeah, rents are going up and so are mortgage rates, but capital value is falling, renters are doing OK, thank you!

Posted by confused76 @ 12:10 PM (1730 views)
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16 thoughts on “The proBTL media offensive is in full swing

  • I think Anne is deranged and needs help.

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  • crash bandicoot says:

    It’s really quite simple Anne,

    rent covers mortgage payments + costs with a little left over = investment

    rent covers mortgage payments + costs = distraction

    rent does not cover mortgage payments + costs = hobby

    The rest is just piffle. Why must you continue to dream up fantasy scenarios where it might just about continue to be possible to eek out a (gross) profit?

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  • I wonder if she has some BTL’s herself – this looks like the work of someone in denial..

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  • How will rents be affected by rising unemployment encouraging people to share accomodation, move back in with parents, etc?

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  • From the Paragon press release:
    “For each monthly output, we include applications that completed in the last three month cycle, written by Paragon Mortgages.”
    “The rental income is defined as the current rent received at underwriting for remortgage cases and the verified expected rental income for house purchase cases.”

    So it’s based only on successful new applicants for Paragon’s mortgages. Assuming that the company has tightened lending criteria (like every other bank), then it is simply rejecting the landlords with lower rents, thereby making it look as if rents are rising. Paragon claim rents in the southwest are up by 29.2% – I think not!

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  • letthemfall says:

    Dumber than the dumbest EA.

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  • little professor says:

    Poor Anne. This really is getting quite sad now.

    It’s a dead parrot, love. Let it go.

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  • Surely this must go to the Press Complaints Commision as it is blatant adertising!

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  • Landedgentry says:

    “And what would you know about being close to thirty?”

    Robert, Hull, UK

    OOOOOOHHHHHHHHHHH!!!!!!!!!!!!

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  • She should be obliged to declare her interest
    Is she trying to offload property?

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  • Drewster,

    Great point! it is a “mix” effect of approved mortgages, so it is a biased statistics

    plus, it also contain “estimated rents” underwritten by questionable surveyors

    in other words a lot of expectations and hot air

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  • At the Times they can t even check consistency between articles in the same issue:

    this was posted here earlier today

    http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article4207814.ece

    “Melanie Bien, of Savills Private Finance, the independent mortgage broker, said: “Landlords are trying to ease the pain of rising buy-to-let mortgage costs by increasing rents. They can do this because rental demand is greater than supply and tenants have to pay decent rents to get the best properties. Those first-time buyers who are being forced to rent for longer because they cannot afford to get on the property ladder are also paying more rent in the meantime, making it harder for them to save up a deposit to purchase a home of their own.”

    but

    “Market observers said that rents could not continue to rise at such rates. Simon Rubinsohn, an economist at the Royal Institute of Chartered Surveyors, said: “Rents have been moving along swiftly but there are some signs that the massive increases have already taken place and the market has begun to lose some of its upward momentum. There may be some resistance to higher rents given that household budgets are under such pressure.”

    Lucian Cook, a director of research at Savills, said: “Tenants are ultimately more flexible and are not tied to a particular house. They are more footloose.” Savills predicts that rents will be 4 per cent higher than 2007 prices by the end of this year.

    Hurford Salvi Carr, an agent in Central London and Docklands, said that rents had been suppressed by a flood of homes that owners had been unable to sell. Hamptons International reported that the supply of homes for rent had jumped 40 per cent since the onset of the credit crunch, and the number of potential tenants had risen 9 per cent.”

    OOOOOOOOOOOOOOOOOOOOOOOPPPPPPPPPPPPPPPPPPPPPPPPPSSSSSSSSSSSSSSSSSSSSSS

    “supply of homes for rent had jumped 40 per cent since the onset of the credit crunch, and the number of potential tenants had risen 9 per cent.”

    YYEEEEEEEESSSSSSSSSSSSSSSSS

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  • My god all of the comments are bearish at the bottom of the article. Except John”It all depends on where the property is located. Thus London will do better than the Outer Hebrides.”

    So as i said all sensible comments are bearish.

    “Today’s typical amateur landlord is described by one observer of the sector as “quite wealthy, in a good day job and with a good slug of equity in his own home”. Suspicious of the blandishments of developers, he is also sensible enough not to have committed funds to inner-city schemes in towns oversupplied with new apartments. ”

    Which observer is that then? A typical observer? Maybe her goodly self?

    So that means no typical landlord has bought into inner city developments. Eh? So who has bought them? Really dont understand how such self-serving drivel is allowed to fill our papers, would be funny if related to areas where very little wealth is at risk, but they should really have to have some responsibility for this twaddle. Ah well free speech i suppose, you pays your money and takes your choice.

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  • Meaningless statistics from a bankrupt non-business

    plus

    Microwave journalism.

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  • it_is_going_with_a_bang says:

    Anne Ashworth ….. lol

    Enough said.

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  • Techieman

    ”’Todays typical landlord has a good slug of equity in their own home”’.

    Do you think the banks have spotted that one – how long before they call for top ups on BTL portfolios and raid that ”good slug of equity”.

    Then who’ll be buying with 30% off current prices.

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