Friday, Aug 03, 2018

Fergie:

Kent Online: Landlord Fergus Wilson hikes rent within minutes of interest rate rise

Everyone's favorite Toryshire parasite does it again. A 0.25% base rate increase = 3.3% increase on a £1500/pcm rental. And as you'd expect the comments are excellent.

Posted by landofconfusion @ 02:25 PM (3043 views)
Add Comment
Report Article

8 Comments

1. jack c said...

He obviously can't offload his property empire having tried several times over the years

Friday, August 3, 2018 03:47PM Report Comment
 

2. mombers said...

Can't find the equivalent article when he slashed rents when interest rates fell???

Friday, August 3, 2018 03:53PM Report Comment
 

3. reticent said...

Clearly just likes getting his name in the papers as there's no way he could actually do this "effective immediately".

I'm not talking about the laws of economics and him attempting to pass his costs on. I'm taking about ASTs not letting landlords jack up the rent until the lease is up for renewal and even then, pegging increases to the RPI is a standard clause.

Why they let such an odious narcissist get airtime is beyond me.

Friday, August 3, 2018 05:26PM Report Comment
 

4. reticent said...

This guy must be from the same public relations school as the founder of Ryan Air. Given that they announced it 10 years ago, I'm sure they're going to get around to charging people for use of the in-flight toilet any day now, cos there's probably no aviation industry regulations standing in the way of them doing that...

Friday, August 3, 2018 05:33PM Report Comment
 

5. landofconfusion said...

@reticent

If they don't accept the increase I'm sure he'll just threaten them, possibly only with eviction if he's calmed down enough. Also some AST's have a rent "review" clause so perhaps this is what he intends using?

Saturday, August 4, 2018 02:22PM Report Comment
 

6. tenyearstogetmymoneyback said...

Meanwhile the house next door drops 20% in price and buying starts to look more feasible to his Tenants.
It will be interesting to see what happens in the long term as Buy to Let Mortgages were unheard of back in themed 90s slump when First time buyers were getting family homes for what had been starter home prices a few years earlier.

Sunday, August 5, 2018 11:44PM Report Comment
 

7. reticent said...

@6 Depends on if there's a stampede for the exits. Does not appear to be the case right now.

Some of the BTL are selling, and they are obviously selling to the tenants. But everyone else seems to be sitting on their hands because of Brexit. The tenants still pay the prevailing price, and it's not going to be that depressed until landlords hit the market en masse.

Near me, there seem to be loads of properties available to rent AND to buy, i.e. the landlords will do whichever takes first. It may just be that I've never been shopping around for both at the same time, but i'm pretty sure landlords have barely been selling at all until recently, so this is something of a novelty. I guess that it suggests two things:

i) They're not so worried about prices falling that they're selling up ASAP, and are happy to take on another 12 month lease if they can't find a buyer.
ii) They're worried enough about voids that they can't afford to keep the flat empty while they wait to sell, hence the "whichever comes first" approach.

But the key thing to understand is that if landlords are selling up generally, the only buyers they are likely to find will be their tenants. And right now, that doesn't seem to be happening in the sort of great numbers necessary to create a crash. As such, prices aren't really falling anywhere but London and a few key commuter towns (yet).

Monday, August 6, 2018 05:00PM Report Comment
 

8. jack c said...

Here's one for the techieman if he's looking in www.youtube.com/watch?reload=9&v=Ux02-aIvlLA

Wednesday, August 8, 2018 10:58AM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies