How does Buy to Let END!

[spygirl]

8 minutes ago, HolyCow said:

Why? The whole rental market for EEs is different because a lot of them are young, mostly men, only here for a few years and living in house shares or as lodgers, earning low wages and not entitled to much welfare as they are young and single. A transient community who a mercenary in the sense that their ties to the UK are money. If the money disappears because the work disappears a lot of them will leave. I would if I was Polish. Lovely place and probably a better quality of life in the long run. Besides, there's no place like home.

Its not just EEers, ther other EUers too.

London esp. seems to be ~50% non Brits, doing, in the main, low paid, jobs.

The UKs 'job miracle' was nothing more than a vast UKGIV sub to low paying, low skillled jobs. Which would be bad, but is even wrose as itwas given to non Brits.

That whole Italian making you a latte, EE cleaner and LAtivan builder, all working with vast UKGOIV subs has to end - we really dont have the money, not that we had it before.

 

[HolyCow]

4 minutes ago, spygirl said:

Its not just EEers, ther other EUers too.

London esp. seems to be ~50% non Brits, doing, in the main, low paid, jobs.

The UKs 'job miracle' was nothing more than a vast UKGIV sub to low paying, low skillled jobs. Which would be bad, but is even wrose as itwas given to non Brits.

That whole Italian making you a latte, EE cleaner and LAtivan builder, all working with vast UKGOIV subs has to end - we really dont have the money, not that we had it before.

 

It won't end though because the lobbyists have the power and the money to influence the Government who personally benefit from it.

What I don't understand is paying workless families to live in London. I suppose it supports the whole rentier economy though and many politicians benefit from that too.

Tbh I don't see how this will end. I suppose when there are no more taxpayers and everyone is on benefits. It seems illogical but has been going on for so long I imagine we will end up with a sort of scorched earth policy before sanity sets in and as for not having the money, they can just print forever can't they...?

Edited April 27, 2020 by HolyCow

[spygirl]

6 minutes ago, HolyCow said:

It won't end though because the lobbyists have the power and the money to influence the Government who personally benefit from it.

What I don't understand is paying workless families to live in London. I suppose it supports the whole rentier economy though and many politicians benefit from that too.

Tbh I don't see how this will end. I suppose when there are no more taxpayers and everyone is on benefits. It seems illogical but has been going on for so long I imagine we will end up with a sort of scorched earth policy before sanity sets in and as for not having the money, they can just print forever can't they...?

Dont be daft.

IO BTL have no fucking money or lobbyists.

The banks, the few that are not propped up by UKGOV are on the shit seat. Just look at the number of mortgages being sold.

For a previous, look a tthe life insurers. These did have lobbyists and MPs ear. After the pension, then endowment fuck up, they were all let go to the wall.

Fom the removal of favourable tax allownace in the mid 80s, when LI started ramping up on with profits, to late 90s, when the WP chuckens landed due to o Ponziness, UK LLIs are down by ~90% in size, returning to Life policies only.

 

[HolyCow]

7 minutes ago, spygirl said:

Dont be daft.

IO BTL have no fucking money or lobbyists.

The banks, the few that are not propped up by UKGOV are on the shit seat. Just look at the number of mortgages being sold.

For a previous, look a tthe life insurers. These did have lobbyists and MPs ear. After the pension, then endowment fuck up, they were all let go to the wall.

Fom the removal of favourable tax allownace in the mid 80s, when LI started ramping up on with profits, to late 90s, when the WP chuckens landed due to o Ponziness, UK LLIs are down by ~90% in size, returning to Life policies only.

 

So why do you think the Tory Government has not changed the welfare system so taxpayers are not paying for large, workless families or even low waged, benefit subsidy dependent workers to live in expensive cities? This also props up house prices. I just checked for my area and a family out of work would get £300+ per week in LHA to pay their landlord's pension/mortgage for a 2 bed flat! BTLers don't need to lobby if LHA is that generous.

[TheCountOfNowhere]

4 minutes ago, HolyCow said:

So why do you think the Tory Government has not changed the welfare system so taxpayers are not paying for large, workless families or even low waged, benefit subsidy dependent workers to live in expensive cities? This also props up house prices. I just checked for my area and a family out of work would get £300+ per week in LHA to pay their landlord's pension/mortgage for a 2 bed flat! BTLers don't need to lobby if LHA is that generous.

The poor have no choice but to spend their money on essentials....food, clothes, shelter, electricity etc.

Where does this "free" cash end up ?

The rich worked out a long time ago now that benefits were not for the poor, they are for the rich

[spygirl]

Just now, HolyCow said:

So why do you think the Tory Government has not changed the welfare system so taxpayers are not paying for large, workless families or even low waged, benefit subsidy dependent workers to live in expensive cities? This also props up house prices. I just checked for my area and a family out of work would get £300+ per week in LHA to pay their landlord's pension/mortgage for a 2 bed flat! BTLers don't need to lobby if LHA is that generous.

They did try.

Expect the whole Brownian - poor workign families was embeeded so deep with Labou n LibDem that this happened:

https://www.telegraph.co.uk/news/politics/11954740/Tax-credits-Government-faces-defeat-in-the-House-of-Lords-live.html

https://www.theguardian.com/money/2015/oct/21/house-of-lords-table-motion-to-block-44bn-cuts-to-tax-credits

https://www.theguardian.com/commentisfree/2015/oct/25/tax-credit-reform-lords-george-osborne-cuts

People still font grasp how much Brown fucked stufff up, stuffing hte Lords with his yes mmen n wimmin.

Gidiots big fuck up was not treat benefit reform with same urgency as sorting out the UK banks n deficit.

If hes started bumping up the TC hours by 5h/year and reducing payouts by 5%/year, then they have been defused by 2015.

Instead Gidiot tried to be 'clever' by giving benefits reforms to a moron, IDS.

The irony of the LibDems big signalling on TCs, promptly led to  Brexit as TCs were drawing in millions of EUers, then the LibDems blowing up. Cretins.

 

[spygirl]

7 minutes ago, HolyCow said:

So why do you think the Tory Government has not changed the welfare system so taxpayers are not paying for large, workless families or even low waged, benefit subsidy dependent workers to live in expensive cities? This also props up house prices. I just checked for my area and a family out of work would get £300+ per week in LHA to pay their landlord's pension/mortgage for a 2 bed flat! BTLers don't need to lobby if LHA is that generous.

Another of Brown idiots changes was chaing LHA to the average rent, so rents rose, LHA rose. Innumerate cretin.

Recent changes have capped LHA at the lowest 30% of rents, which will see LHA fall over time.

Again, people dont grasp ow much Brown changed and how much money the cretin gave away to 'fight'poverty'. And how mmuch hes fucked over poor people.

 

[spygirl]

https://www.telegraph.co.uk/property/buy-to-let/coronavirus-means-losing-4100-per-month-landlords-businesses/

https://www.housepricecrash.co.uk/forum/index.php?/topic/231637-radio-4-you-and-yours-btl-landlords-selling-up/

https://www.property118.com/member/?id=362

Im pretty sure this is him:

https://www.encoltd.co.uk/metal-fabrications-and-pipe-work/

Small pipe fitting/welding business in Alifax, owns 23 BTL in London, on a pretty high LTV Id gues.

 

[Andersen]

I'll leave this here https://www.propertywire.com/news/landlords-regret-investing-in-buy-to-let/

[DownwardSpiral]

Walking around Cardiff, it is really interesting seeing how many For Sale signs are popping up all over the place. There is going to be a massive glut at the end of the lockdown. The banks are wanting ever larger deposits, nobody has really been able to sell for a month, unemployment will rise, furlough will be tapered, and I can’t see how there isn’t going to be a big spike in the 3 Ds to create a perfect storm.

I walked past a property on the riverside yesterday, which has been crassly converted into three flats. The landlord has put all three up for sale. Three For Sale signs outside one property. Rats trying to run to safety.

[macca]

On 27/04/2020 at 09:14, spygirl said:

Its not just EEers, ther other EUers too.

London esp. seems to be ~50% non Brits, doing, in the main, low paid, jobs.

The UKs 'job miracle' was nothing more than a vast UKGIV sub to low paying, low skillled jobs. Which would be bad, but is even wrose as itwas given to non Brits.

That whole Italian making you a latte, EE cleaner and LAtivan builder, all working with vast UKGOIV subs has to end - we really dont have the money, not that we had it before.

 

Our economic growth has been physical growth in population.. 

The creation of pointless jobs.. if you look at the bigger picture as pointless jobs have increased,

So have in work benefits

So have housing benefits

And also productivity has fallen, as they work out how productive each member of society is.. mainly due to only needing to work 16 hours to get all the juicy benefits.. 

They say we need migrants, but as most are in the services sector its cause and effect..

Cause of increased jobs, demand from increasing population..

Effect, more people needed to look after those peoples needs.. 

Its all pointless planetary destruction for Capitalism.. the growth must continue.. 

Realistically we as a species need core jobs filled.. food, water, gas, waste, maintenance, cloths.. 

Beyond that allot of the jobs, McDonalds delivery, hand car wash, even things like tv,, do you need 200 channels when 5 is fine..

 

Edited May 7, 2020 by macca

[TheCountOfNowhere]

I'll leave this here...you'll be very angry when you've read it.

 

https://www.property118.com/covid-19-bounce-back-loans-for-property-businesses/comment-page-2/

[stop_the_craziness]

34 minutes ago, TheCountOfNowhere said:

I'll leave this here...you'll be very angry when you've read it.

 

https://www.property118.com/covid-19-bounce-back-loans-for-property-businesses/comment-page-2/

Judging by the comments, they are all aware that this is part help part trap.  And they can't decide if to put their feet in that trap or not.

[TheCountOfNowhere]

14 minutes ago, stop_the_craziness said:

Judging by the comments, they are all aware that this is part help part trap.  And they can't decide if to put their feet in that trap or not.

Take that cash and lever up.....

[macca]

On 07/05/2020 at 12:42, TheCountOfNowhere said:

I'll leave this here...you'll be very angry when you've read it.

 

https://www.property118.com/covid-19-bounce-back-loans-for-property-businesses/comment-page-2/

"Being a landlord is hard work and a thankless task.. "

Fucking he'll..  they think they are mother terresa... 

I tell you landlord cunt what was hard work.. the 15k per year in rent I used to pay.  You greedy fucking parasites.. get a job shit heads.. 

I own a house now (bank owns) but am quite happy for the prices to fall so I can move into a bigger one. if it went down 100k I would still have 60k equity.. 

I don't mind others being able to buy a home.. and I see no advantages to higher house prices as its just somewhere to live.. My job is my income ... its not something for thick landlords to steal.. 

[macca]

[The Idiocrat]

33 minutes ago, macca said:

Absolutely fucking brilliant.

[Green Devil]

On 07/05/2020 at 12:42, TheCountOfNowhere said:

I'll leave this here...you'll be very angry when you've read it.

 

https://www.property118.com/covid-19-bounce-back-loans-for-property-businesses/comment-page-2/

https://www.property118.com/new-scottish-landlord-covid-19-loan-scheme/

 

This one's even better. Scottish Gov are bailing out scummy landlords. Ffs! 

[macca]

8 hours ago, Green Devil said:

https://www.property118.com/new-scottish-landlord-covid-19-loan-scheme/

 

This one's even better. Scottish Gov are bailing out scummy landlords. Ffs! 

Fuck fucking fuckers.. 

"More needs to be done for landlords, they are providing homes for the most vulnerable in society" 

No they ain't..  they are causing house prices to rise and profiting from the labour of others.. They are causing the collapse of councils who foot the huge rental costs, They are creating problems for the future as ever larger numbers of the young get sucked into they're vortex of greed.. 

 

A landlord is just a middle man between  the bank and the person who is paying the mortgage.. the tenant..

 

Edited May 9, 2020 by macca

[macca]

Landlord complex.. 🤣

 

[reformed nice guy]

13 hours ago, macca said:

Landlord complex.. 🤣

 

[spygirl]

With bank asking for the mortgage to be repaid.

https://www.property118.com/bm-mortgages-action-required-letter-on-interest-only-mortgages/

I have received a letter from BM Mortgages asking very intrusive questions about how I will repay an interest-only BTL mortgage I have with them and gently threatening to put me on a repayment mortgage (‘ask’ is the way they put it) if I cannot satisfy them that I have an adequate repayment plan in place.

The redemption date is well over six years away. I have had other BTL interest-only mortgages with BM that were redeemed either by the sale of the property or by me paying them down as the redemption date approached but this is the first time they have demanded to know how I will pay one off.

[spygirl]

This is interesting as it gives a bit of insight into BTL

Ignore the divorce, its not really that driving this.

https://www.dailymail.co.uk/tvshowbiz/article-8313627/Jason-Manford-sold-3m-property-portfolio-help-pay-divorce.html

One, its a LtdCo, so will not be subjected to the S24 stuff.

Two, the accounts are too brief to have a good understanding but ...

https://beta.companieshouse.gov.uk/company/07058599/filing-history?page=3

Created end of 2009.

Mortgages start ~2012. Coop, that solvent bank ...

https://beta.companieshouse.gov.uk/company/07058599/charges

All in various crapholes around Manc.

Started shutting down in 2017. Still going 3 years later.

I guess he'll have to hold on until tenants leave, otherwise - 'I  was thrown on the streets by Jason Manford' stories.

Lots of leverage for little reward.

Property  - very hard to exit.

An non Ltd Co. IO BTL trying to sell the portfolio faces paying ~50% tax on he rental income. Or paying the  mortgage.

 

 

 

[spygirl]

'I didn't know how thick I was': Jason Manford reveals the hilarious realities of homeschooling with his ex-wife... after 'flogging eight properties from £3m portfolio to pay for their divorce'

https://www.dailymail.co.uk/tvshowbiz/article-8319767/Jason-Manford-discusses-difficulties-homeschooling-ex-Catherine.html

Journo is pretty thick too.

He has reportedly made £3million after selling off at least eight of his properties - based largely in Greater Manchester. 

I've read the last insolvency report.

One, it only seems slightly voluntary.

The company had managed to run up a 1.25m HMRC bill.

He does not seem too hot on filing returns.

 

 

 

[gibbon]

3 hours ago, spygirl said:

'I didn't know how thick I was': Jason Manford reveals the hilarious realities of homeschooling with his ex-wife... after 'flogging eight properties from £3m portfolio to pay for their divorce'

https://www.dailymail.co.uk/tvshowbiz/article-8319767/Jason-Manford-discusses-difficulties-homeschooling-ex-Catherine.html

Journo is pretty thick too.

He has reportedly made £3million after selling off at least eight of his properties - based largely in Greater Manchester. 

I've read the last insolvency report.

One, it only seems slightly voluntary.

The company had managed to run up a 1.25m HMRC bill.

He does not seem too hot on filing returns.

 

 

 

I don't know who he is. I don't want to either.