How does Buy to Let END!

[eek]

1 hour ago, Bobthebuilder said:

Try putting cavity wall insulation into a house without a cavity wall, or loft insulation into a flat with no attic access. Thats after you have fitted new doors, window's, new a rated boiler, full re wire, lcd lights, capped at £10K per new tenancy agreement.

Cavity wall insulation?- if you don’t have a cavity wall the choice is either internal or external insulation. The local (railway) housing association has just done exactly that and you can now spot all their houses due to the external cladding.

 

and what has wiring got to do with energy efficiency?

[Wight Flight]

19 minutes ago, Bobthebuilder said:

Thats the last thing I read through a licensed trade publication.

Looks like the current exemption is just 5 years before you have to pay again.

https://www.gov.uk/guidance/domestic-private-rented-property-minimum-energy-efficiency-standard-landlord-guidance#registering-an-exemption

[Bobthebuilder]

12 minutes ago, Wight Flight said:

Interesting.

Lots of scope for dodgy builders bills though!

In your experience how many places are C or better at the moment?

Anything Victorian or Georgian forget it, post war is the best bet.

[Wight Flight]

1 minute ago, Bobthebuilder said:

Anything Victorian or Georgian forget it, post war is the best bet.

Unsurprisingly most stuff here is Victorian.

[Bobthebuilder]

14 minutes ago, eek said:

and what has wiring got to do with energy efficiency?

Dont give a fuck, I run everything in my house on old Mullard EL84 valves.

[Rare Bear]

1 hour ago, Bobthebuilder said:

Dont give a fuck, I run everything in my house on old Mullard EL84 valves.

Always toasty then.

[Bobthebuilder]

9 minutes ago, Rare Bear said:

Always toasty then.

Yeah lovely, and me guitars sound mint.

[Wight Flight]

Another 4 month let. Normally a FHL

https://www.onthemarket.com/details/13718844/

They are going to gross £4k. Less letting fees and heating bills.

Can't be much more than £2k left after that.

Either desperate or very, very stupid. 

[sancho panza]

On 16/09/2023 at 21:19, With a crooked smile said:

A sub 5% 5 year BTL mortgage became available yesterday for new purchases and remortgages. 

Read it and weep crashies!

I love your work.....

On 17/09/2023 at 15:29, AWW said:

It's a big risk to take. Tenant could easily stay put for 6-12 month's after that 4 month period.

QUite.£5/6k eviction costs and no rent for 8 months.WHy?Maybe evictions are easirer from FHL?

On 17/09/2023 at 16:04, Bobthebuilder said:

My mate is currently renting a house in Dorset at a 3% yield.

If we're gonna play top trumps I'm 2.1% on 2021 purchase price.But as AW says that's prob way higher now as the place has prob dropped 20% due to carry csots.Maybe more to get a deal.

 

[mooncat69]

On 17/09/2023 at 21:39, Bobthebuilder said:

Dont give a fuck, I run everything in my house on old Mullard EL84 valves.

AC30?

[Bobthebuilder]

5 minutes ago, mooncat69 said:

AC30?

Orange amps mainly, similar to Vox using el84 and ecc83 / 12AX7s.

I love that style of amp, being low watts you can crank them up and get all that lovely power tube distortion.

[mooncat69]

2 minutes ago, Bobthebuilder said:

Orange amps mainly, similar to Vox using el84 and ecc83 / 12AX7s.

I love that style of amp, being low watts you can crank them up and get all that lovely power tube distortion.

My weapon of choice is a 50W JCM800. Not too loud, not too much preamp gain

[Bobthebuilder]

3 minutes ago, mooncat69 said:

My weapon of choice is a 50W JCM800. Not too loud, not too much preamp gain

Ive got a 50w JCM800 1983, used those for decades. 

I got into the Orange tiny terror, knew about them for years but only recently found out they are a class A all valve amp. They use 2 el84s and 2 ecc83s and being un biased it dont matter what valves you put in, they are amazing and you can pick em up on ebay for less than £200 if you make an offer.

ROCK.

[Paulie]

On 17/09/2023 at 19:54, Wight Flight said:

It is all odd.

It looks like over the last couple of years the btl lot have looked enviously over the fence at the fhl bunch and switched to that.

The fhl bunch are trying six months winter lets as the season doesn't pay enough because there is too much competition.

And the second home owners are feeling the pinch and also trying winter lets to ease the burden.

Of course none of this works, and the smart ones have already sold. The question is will there be anyone that can raise a mortgage left when the latecomers try to follow them to the exit.

It surprises me how attached people get to a house they have never lived in. Or perhaps they just like the feeling of owning multiple properties.

Second home could work if it was your primary home, owned but otherwise let, allowing you to reside in Thailand, Colombia, Somalia, wherever takes your fancy.

[Wight Flight]

Some good news for landlords at last.

Looks like the EPC rating requirement is being dropped.

@Bobthebuilder

[Plan-b]

25 minutes ago, Wight Flight said:

Some good news for landlords at last.

Looks like the EPC rating requirement is being dropped.

@Bobthebuilder

Is that part of this statement, where the Sunak is just considering watering the ESG targets?

Rishi Sunak considers weakening key green policies

https://www.bbc.com/news/uk-politics-66857551

[Wight Flight]

27 minutes ago, Plan-b said:

Is that part of this statement, where the Sunak is just considering watering the ESG targets?

Rishi Sunak considers weakening key green policies

https://www.bbc.com/news/uk-politics-66857551

Yes.

[AlfredTheLittle]

29 minutes ago, Plan-b said:

Is that part of this statement, where the Sunak is just considering watering the ESG targets?

Rishi Sunak considers weakening key green policies

https://www.bbc.com/news/uk-politics-66857551

He's going to drop the targets that are coming uncomfortably close (2030) while keeping the ones that seem so far away they'll never happen (2050). Interesting though that a couple of car companies said they're going to build electric cars in the UK (eg mini) and now look a bit stupid for trusting the government. I don't have any problem with the net zero policies being dropped, as they were never real anyway just spin, but sadly Rishi doesn't seem interested in genuine environmental policies either, eg crap in rivers. 

[onlyme]

8 minutes ago, AlfredTheLittle said:

He's going to drop the targets that are coming uncomfortably close (2030) while keeping the ones that seem so far away they'll never happen (2050). Interesting though that a couple of car companies said they're going to build electric cars in the UK (eg mini) and now look a bit stupid for trusting the government. I don't have any problem with the net zero policies being dropped, as they were never real anyway just spin, but sadly Rishi doesn't seem interested in genuine environmental policies either, eg crap in rivers. 

The Mini at Cowley that has been built the last few years is on a mixed production line where EV/ICE models could be run through it  serially, not even by batch, so truly mixed as far as I am aware. Not sure if new model though they moved to a specific all EV one.

[Bear Hug]

44 minutes ago, Plan-b said:

Is that part of this statement, where the Sunak is just considering watering the ESG targets?

Rishi Sunak considers weakening key green policies

https://www.bbc.com/news/uk-politics-66857551

I hate the BBC!

 

[Plan-b]

19 minutes ago, Bear Hug said:

I hate the BBC!

Know your enemy!

[Bobthebuilder]

3 hours ago, Wight Flight said:

Some good news for landlords at last.

Looks like the EPC rating requirement is being dropped.

@Bobthebuilder

I was only talking to a property manager 2 days ago about the new EPC regs, his words "Lets see what happens in a year". He pretty much brushed it off as unlikely, adding that "landlords would find ways around it", unfair treatment, screams of rawist etc.

[Plan-b]

This looks like a leasehold, the landlord says they're 15 years into this property and the situation is fine. I don't know how many 'landlords' are in this hole but due to the last few years madness of crowds boom time buying say's quite a lot.

If this is true there is no way this kind of BTL situation can continue, mass defaults and distressed property listings galore ahead.

Edited September 20, 2023 by Plan-b

[Wight Flight]

8 minutes ago, Plan-b said:

This looks like a leasehold, the landlord says they're 15 years into this property and the situation is fine. I don't know how many 'landlords' are in this hole but due to the last few years madness of crowds boom time buying say's quite a lot.

If this is true there is no way this kind of BTL situation can continue, mass defaults and distressed property listings galore ahead.

Swings and roundabouts.

[spygirl]

Theres an element of UC mum on 14p ....

UK homelessness on the rise as rents soar

Lack of affordable housing collides with growing demand and tighter margins faced by landlords

https://www.ft.com/content/61fe370e-06ed-4b65-a87a-c9d6ee098db5

When bailiffs threatened to change her locks out of the blue, Elizabeth’s first thought was to ring her landlord for help.

But it turned out the landlord had not paid his mortgage so the single mother of three was evicted and placed in temporary accommodation by the local council in Oldham, just outside Manchester.

“It’s stressful” not having a permanent home, the 49-year-old said, adding that despite the temporary placement being plagued with flies and bad smells, it was “better than being on the streets”.

 

Or having to work ...

No mention of how odl the kids are ..... 49 is granny age for scratters.

Oldham council leader Arooj Shah: ‘We’re seeing really worrying rises in the number of Oldham families requiring temporary accommodation’ © Joel Goodman/LNP/Shutterstock

 

https://www.ons.gov.uk/visualisations/censusareachanges/E08000004/

Oldham saw England's joint third-largest percentage-point rise (alongside Luton and Pendle) in the proportion of people who were economically inactive because they were looking after their family or home (from 5.2% in 2011 to 7.4% in 2021).

 

Theres only 51% of adults in FT work.

Just shove the rest in a HMO with bunkbeds.

Housing crisis sorted!

id suggest requiring Indian and African 'students' to pay for any spouse membvoer - 10k/head would do.

And require them to sit a full set of A levels.