Sunday, September 26, 2010

A fresh threat for embattled landlords

A fresh threat for embattled landlords

Another nail.

Posted by doomwatch @ 04:42 PM (1048 views)
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2 thoughts on “A fresh threat for embattled landlords

  • Good article

    “According to that NLA research, almost half the landlords they surveyed say they couldn’t afford to absorb such swingeing cuts, two-thirds ‘were unsure about what the reforms will mean to the future of their lettings business’… which means that either some of the half who claim not to be able to afford to absorb the cuts also didn’t understand their effect, or that two-thirds of landlords aren’t positive they’ve a viable business without housing benefit top-ups adding up to a maximum rent of as much as £2,000 a week. Either way, they are messages perhaps best kept under wraps.”

    right so who did they interview?, because if they interviewed people who bought in the last 4 years based on this model then its no surprise this is the answer. However, if this is the answer then there will be many LLs who need to get out which will add to the falls in prices. In any case my hunch is that this is just VI spin.

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  • An interesting scene.

    Once interest rates start to rise: it is a matter of time before one or two reasonable sized BTL merchants keel over.

    Depending on the detail: the tenants are then homeless – all of a sudden. The hue and cry will probably influence manifestos with so many political parties in search of a cause celebre.

    Or the bank gets to try and sell a place with a sitting tenant, for even less. The residual estimated value of other BTL portfolios then looks even more unsustainable.

    Compelling viewing but no fun for those involved.

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