Property predictions 2022

[spygirl]

18 hours ago, Boon said:

To me it strikes me as irresponsible. 

We have the strange situation in the country where those with vested interests already know this but they won't say anything against it because they indirectly benefit.

Thus shit like the 7x mortgage comes in rather than anyone arguing against why we have gotten to this point.

It's plainly obvious what Habito is to me. The owner missed out on a massive payday with Wonga as that went tits up before IPO. But here we have a business which won't suffer from poor public perception as much.

Gameplan should be to aggressively market themselves to chase loans at any cost, so it looks like they can 'scale up'. IPO and cash in some chips - hundreds of millions of worth. Business becomes stagnant shortly after. See Funding Circle for the template.

The risk takers will be the poor sods who take out these mega mortgages as they bear all the counterparty risk. If in 5 years interest rates are 4% and Habito goes bust, what happens then? The administrators would seek to sell the loan book but it might well be cheaper for an aquirer to liquidate the properties rather than honour the commitment for the next 35 years.

Dumb money has gone.

Hes seeking out the initial funding and trying to generate cash from mortgage commision.

 

[RJT1979]

4 hours ago, spygirl said:

Just rung mothas.

Mam n sisters are all gathered around a laptop 'looking' at property.

Mams retired on state pension. She could not get a credit card. Thankfuck.

Sisters combined earning is 1k/m. In a good month, where they show up for work.

I could hear them saying 'Well, if I stop this pt cleaning, then get a 60k job, I'll buy that .

Local median income pans out sub 24k. That's 60% of working people basically not earning enough to get a 50k mortgage.

Theyll be down the EA office in new year, arranging viewing.

I think theyve already had 2 or 3 free valuations in 2021.

I'm also an idiot and dont know anything. The EA says their house is worth xK. Sadly the LR shows nothing selling anything near that.

But the EA is 'qualified' 'knows what hes doing' etc.

I dont mind. They can waste each others time n money for as long as they like.

 

Why do they think they could get a 60k job? It's beyond delusional. I got 2 good degrees from top 10 uni and 20 years experience and I'm not deluded enough to think I can land a 60k job at the moment

[Axeman123]

2 minutes ago, RJT1979 said:

Why do they think they could get a 60k job? It's beyond delusional. I got 2 good degrees from top 10 uni and 20 years experience and I'm not deluded enough to think I can land a 60k job at the moment

It is like the 40 something women that want a kid "someday".

[spygirl]

1 minute ago, RJT1979 said:

Why do they think they could get a 60k job? It's beyond delusional. I got 2 good degrees from top 10 uni and 20 years experience and I'm not deluded enough to think I can land a 60k job at the moment

Because theyve never had a FT hard job.

This is not delusional. All the Shazza 10 kids reckon theyll get a 4pk job when Tyson hits 18.

The only reason why theyve not got a well paying job is their choice. Just need to knuckle down, work hard.

Anyone who actually had a ftjobs knows how hard n skills required to earn 50k+

Both face 60h nnw just to keep head above water. Just wait il they see the tax take too.

 

2 minutes ago, Axeman123 said:

It is like the 40 something women that want a kid "someday".

Yep.

Just a matter of oiling their vulva and putting their mind to it.

[Option5]

4 hours ago, spygirl said:

But the EA is 'qualified' 'knows what hes doing' etc

You don't need any qualifications to be an EA, nothing, nada, zilch 

[spygirl]

6 minutes ago, Option5 said:

You don't need any qualifications to be an EA, nothing, nada, zilch 

I think you'll find you do, they dont let anyone become an EA you know.

I'm still waiting for sistas n mortha to come back with the list though.....

I've exasperated myself trying - and failing - to explain they need a paid for valuation from a chartered surveyor for court.

Getting Billy bolloxs to walk round in 5 min for a free valuation  and come up with a figure from his arse wont stand up before a judge.

 

[Option5]

39 minutes ago, spygirl said:

I think you'll find you do, they dont let anyone become an EA you know.

I'm still waiting for sistas n mortha to come back with the list though.....

I've exasperated myself trying - and failing - to explain they need a paid for valuation from a chartered surveyor for court.

Getting Billy bolloxs to walk round in 5 min for a free valuation  and come up with a figure from his arse wont stand up before a judge.

 

How do you become a real estate agent in the UK?

There are many routes to becoming an estate agent, and it’s important to note that it is not legally required that agents have any sort of degree or qualifications to become one – so anyone with the desired skills can work their way up in a real estate agency in the UK. 

https://www.dezrez.co.uk/guides/how-to-become-an-estate-agent

I actually read it on "The agent's diary" blog ages ago.

 

[King Penda]

On 27/12/2021 at 14:58, With a crooked smile said:

No problem I only have 1 b2l someone on here  has been calling me a landlord which while technically true I wouldn't really regard myself as. I think he's mistaken the fact that I have a commercial mortgage for the fact that I might have a string on properties. In actual fact the commercial mortgage is for an 11 bedroom hotel. 

What people like the person critising me dont see is the struggle to get where I am now. There were times for instance when we slept on the floor having rented our own bedrooms out. I regularly work 7 days a week and that is draining. 

I'd also point out that during covid we gave our tenant in the b2l a free pass on much of the rent as she split up with her boyfriend and then lost her job in the creative industries. 

I am however likely to buy a second buy to let in the next 12 to 18 months. 

I'm not asking for sympathy. I'm happy and grateful for my lot. It's been a combination of taking a bit of risk, working hard and good old fashioned luck that's got me here. 

My day job is in sales so if someone anonymous on the Internet wants to call my anonymous avatar a cunt it really is water off a ducks back. 

Don’t panic over the last 4 years I’ve meantioned several ways I’ve mulled over makeing money from

property no one had a go.hell I had a lodger for 2 years .I even want a bigger house now mine is big enough for me but I get more options with a bigger house.once the kids go back to mums I could get 2 lodgers I could simply foster both in theory are makeing money from

property

[King Penda]

I’m going to stick my neck out and say terraces in stoke will increase in value they seem to be getting bought to house southern black folks in my street.3 houses in my street have now been bought by southern female landlords one bought 2 the other 1.I only know this because a neighbour is increadably nosey and was even chatting to one of them .obviously you could counter with the local btl landlords might flood the market selling up due to tax changes and possible green laws and Labour getting in however I’d point to tens of thousands of imigrents liveing in expensive hotels.

[Wight Flight]

1 hour ago, King Penda said:

Don’t panic over the last 4 years I’ve meantioned several ways I’ve mulled over makeing money from

property no one had a go.hell I had a lodger for 2 years .I even want a bigger house now mine is big enough for me but I get more options with a bigger house.once the kids go back to mums I could get 2 lodgers I could simply foster both in theory are makeing money from

property

Yes but by having lodgers you are helping to solve the housing crisis rather than adding to it.

 

[King Penda]

2 minutes ago, Wight Flight said:

Yes but by having lodgers you are helping to solve the housing crisis rather than adding to it.

 

A btl landlord would argue the same

[Axeman123]

7 minutes ago, King Penda said:

A btl landlord would argue the same

By having lodgers you are lowering yourself in some people's eyes (not that I see it that way, but you know what I mean), whereas most landlords soon start giving themselves airs and graces. You also have to live cheek by jowl with a lodger, so no hot water etc hits you too and you have to look them in the eye every day.

[Wight Flight]

11 minutes ago, King Penda said:

A btl landlord would argue the same

They would try. That is true.

The funny thing is most people think BTL means buy to let. In reality it is borrow to let.

[King Penda]

1 minute ago, Axeman123 said:

By having lodgers you are lowering yourself in some people's eyes (not that I see it that way, but you know what I mean), whereas most landlords soon start giving themselves airs and graces. You also have to live cheek by jowl with a lodger, so no hot water etc hits you too and you have to look them in the eye every day.

I won’t have anyone not working and I prefere to work nights I even fucked the lodgers mum for a laugh 

7 minutes ago, Wight Flight said:

They would try. That is true.

The funny thing is most people think BTL means buy to let. In reality it is borrow to let.

Yep just like many call those with a morgage a morgage slave

[Axeman123]

1 minute ago, King Penda said:

I even fucked the lodgers mum for a laugh 

Exactly. Lodgers are more on an equal footing than tenants. How many landlords would do that?

[Wight Flight]

1 minute ago, Axeman123 said:

Exactly. Lodgers are more on an equal footing than tenants. How many landlords would do that?

Rigsby?

[King Penda]

4 minutes ago, Axeman123 said:

Exactly. Lodgers are more on an equal footing than tenants. How many landlords would do that?

A lodger has no rights basicly 

[King Penda]

2 minutes ago, Wight Flight said:

Rigsby?

Yes it started out has a dare she said I was all mouth no trousers he was like ffs not my mum I’m like don’t worry she will back out 

[Wight Flight]

The housing market is so broken here it is impossible to guess.

Even something as simple as extending the fastcat hours (the last boat home is, I believe 8pm currently (meaning you must leave London by 6pm) could have a significant affect on prices.

The best I can hope for is some really shit weather for the next few months with lots of ferry cancellations.

 

[wherebee]

up 20% in fiat terms, down 25% in real terms measured against heating costs and food costs.

[Boon]

Some funny bear food:

https://www.mumsnet.com/Talk/property/4438468-Feel-so-Awful-about-my-house

I do wonder if many that FOMO'd last year may be like this. But nobody likes to talk about failures.

Of course, the rest of mumsnet can't have this. It's fucking funny that when someone puts up a listing everyone jumps on the criticism but when the coin is flipped people don't say shit.

 

[MrXxxx]

1. Interest rates will rise but not substantially enough to create a HPC. They won't be allowed to as people will be stretched with a) increased taxation, and b) inflation of basic consumables i.e heating.

2. Bottom of market i.e. flats may reduce a little, and is all that will be financially available [for the rest of their working life] to those who didn't buy about 10-15 years ago.

3. Middle of the market i.e 2-3 bed houses will remain firm or rise slightly, being supported with some going form a 2 to 3 bed, and downsizers going from larger houses to middle of market.

4. Top of market 4 bed plus and detached on land. These will drop a little due a) to fewer buyers i.e nobody coming up from middle as was traditionally the way, and b) probate sales. These will be either converted into flats or knocked down and rebuilt into ecoflats [with government incentives to developers i.e grants/FTB support and/or planning policy easement], or if on a large footprint built into 'Middle of market' 2 bed houses [with same government grants].

5. Banks will be happy as they will gain increased profits via a) slightly increase differential between low money market rate and slightly increased mortgage rates, and b) buyers in the bottom giving up 'holding out' for a house and buying a flat. Developers will be happy as they will continue building flats; far more return on plot than houses, and government will be happy as a) more private rentals available for those on housing benefit, and b) can state 'houses [well flats] for FTB'

So in the UK  if you don't have a house now too late, look forward to a life in rented property of a flat that you will spend the rest of your working life paying for.

[MrXxxx]

20 minutes ago, Boon said:

Some funny bear food:

https://www.mumsnet.com/Talk/property/4438468-Feel-so-Awful-about-my-house

I do wonder if many that FOMO'd last year may be like this. But nobody likes to talk about failures.

Of course, the rest of mumsnet can't have this. It's fucking funny that when someone puts up a listing everyone jumps on the criticism but when the coin is flipped people don't say shit.

 

I think Mumsnet post this highlight several things I see with housebuyers in the last 5-10 years:-

People have become detached [no pun intended] between:

1. House offers and value FOR money. They view a good deal as getting 5% off an already inflated asking price.

2. House offers and the value OF money. As they are spending someone else's money [the banks] via a mortgage they think little of paying an extra £60k whereas if they had this 'in their hand'  they wouldn't dream of paying that 'little' bit more.

3. House offers and the cost OF money. As they are buying with a loan rather than from savings they lose the 'perspective' of the sum they are spending i.e. a lifetimes earning/labour/'life' [and leisure] on something as simple as accommodation/pile of bricks.

I'm not saying that people should wait until they have the cash to buy; unrealistic for most, but they need/should be encouraged to think upon the sums they are spending, and 'their' costs in relation to this.

[spygirl]

55 minutes ago, Boon said:

Some funny bear food:

https://www.mumsnet.com/Talk/property/4438468-Feel-so-Awful-about-my-house

I do wonder if many that FOMO'd last year may be like this. But nobody likes to talk about failures.

Of course, the rest of mumsnet can't have this. It's fucking funny that when someone puts up a listing everyone jumps on the criticism but when the coin is flipped people don't say shit.

 

Why women should not have the vote or a bank account.

Those wily old bank manager refusing to give a mortgage to a single women  were correct.

 

Feeling exactly the same but just keep reminding myself we like the house, will not be planning a move for 20 years and it's a home, not an investment. Plus, we looked at plenty of properties so have half a clue on local prices (it's the location in our case which is causing me to think we overpaid).

Well. lets see what IRs do, shall we?

[spygirl]

1 minute ago, spygirl said:

Why women should not have the vote or a bank account.

Those wily old bank manager refusing to give a mortgage to a single women  were correct.

 

Feeling exactly the same but just keep reminding myself we like the house, will not be planning a move for 20 years and it's a home, not an investment. Plus, we looked at plenty of properties so have half a clue on local prices (it's the location in our case which is causing me to think we overpaid).

Well. lets see what IRs do, shall we?

Thanks everyone. Re the surveyors valuation - I had a buildings survey and they didn’t give a valuation as part of it.
I just know I was too keen. I honestly don’t know how to get over the panic of losing all that money.
Keep thinking of what it could’ve gone on instead and it’s so painful.

What I liked about the house - it has a large open plan kitchen and living space, wide hallways that feel like rooms in themselves, a nice feel about it. It’s hard to put my finger on really but everyone else seems to think it’s awkward. One of the bedrooms is absolutely tiny and I’m too hesitant to even check if a single bed can go in there. It seems so obvious to me now, I don’t know where my head was at when I viewed and offered.

Corbyn was a vote winner amongst wimmin ...