How does Buy to Let END!

[spygirl]

Bastard lovechild of We buy Any Hosue and Equity Release.

 

 

It really isnt that big

https://suite.endole.co.uk/insight/people/8653465-mr-justin-neal

For the ammount of revenue versus nubmer of employes then it loads a v bad deal.

 

[Cold Cold Ground]

Yes, I am wrong, they buy the house then sell on to an investor. So this should show up and falling prices as don’t expect they will be paying asking.

[reformed nice guy]

4 hours ago, spygirl said:

Bastard lovechild of We buy Any Hosue and Equity Release.

 

Top right, blue shirt.

You can tell by his eyes that he knows....

[spygirl]

https://www.property118.com/buy-to-let-profitability-rises-despite-higher-costs-and-inflation/

The profitability of buy to let properties in the UK has increased over the last year, according to new research.

Letting and estate agents Benham and Reeves has analysed the gross and net rental yields of the average BTL property across the country, taking into account the costs of maintaining and furnishing a rental home.

And it says that the average buy to let property costs £289,824 and rents for £1,276 per month.

This means that landlords can expect to earn £15,312 per year in rental income, or a gross rental yield of 5.3%.

That’s a 4.8% improvement in the last 12 months.

....

Headline: Buy to let profitability rises.....

Conclusion: We have ignored mortgages, so in reality buy to let profitability has fallen considerably.

Do people get paid to churn out this nonsense?

[One percent]

Just now, spygirl said:

 

Do people get paid to churn out this nonsense?

Well I doubt they would do it for fun. 

[leonardratso]

It rains all the time in death valley.

Conclusion : thats absolute rubbish, this article is bunk. You will never get your 30 seconds back. Click on affiliate links.

[Wight Flight]

46 minutes ago, spygirl said:

This means that landlords can expect to earn £15,312 per year

I take issue with that word.

[Wight Flight]

Looks like they are struggling to shift the high end places.

Some drop!

https://www.rightmove.co.uk/properties/139794965?

[Wight Flight]

6 hours ago, Wight Flight said:

Looks like they are struggling to shift the high end places.

Some drop!

https://www.rightmove.co.uk/properties/139794965?

It isn't showing the previous price which i think was £2,150.

It bugs me that it is Council tax band D when my 1.5 bedder is Band E.

 

[spygirl]

Property guru who flaunted wealth of his £30m empire on Channel 4 show How The Other Half Live appears in court charged with 45 fraud offences

• Glenn Armstrong, 64, allegedly lied about how he would invest his victim's cash
• Armstrong at one stage owned 200 properties in and around Milton Keynes

https://www.dailymail.co.uk/news/article-12645229/Property-guru-Channel-4-court-charged-fraud-offences.html

https://find-and-update.company-information.service.gov.uk/officers/bO7FoVMXD8ShL06ugVMoPJjuQXI/appointments

Hes been a busy boy in the last ~5y.

Armstrong (pictured in the doorway of his mansion), a former taxi driver, at one stage owned 200 properties worth around £30 million in and around Milton Keynes 

 

https://propertytribes.com/glenn-armstrong-made-bankrupt-t-127651187-lastpost-user-509515.html#pid509515

https://www.propertytribes.com/glenn-armstrong-fails-in-media-prosecution-t-127653052.html

 

https://www.propertytribes.com/glenn-armstrong-made-bankrupt-t-127651187.html?fbclid=IwAR2HI1mm_kPrEiwnUNvKv_G3pFHzunS-lbGp9VP0ETR1EQxsriNXeoWSH84

 

[BWW]

On 16/10/2023 at 13:52, Cold Cold Ground said:

Yes, I am wrong, they buy the house then sell on to an investor. So this should show up and falling prices as don’t expect they will be paying asking.

do they pay sdlt or is there some way around this for such trading?

good for treasury if they do ... double bubble and first purchase presunably have to pay 3% on top.

[BWW]

14 hours ago, Wight Flight said:

It isn't showing the previous price which i think was £2,150.

It bugs me that it is Council tax band D when my 1.5 bedder is Band E.

 

you can challenge the band even as a tenant  afaik. makes sense since you pay the bill. use voa to look up neighbours band and compile a list of lower banded conparables. complete a form and wait.

[Wight Flight]

19 minutes ago, BWW said:

you can challenge the band even as a tenant  afaik. makes sense since you pay the bill. use voa to look up neighbours band and compile a list of lower banded conparables. complete a form and wait.

All in my street are the same, and I am not sure I will be there much longer anyway 

[BWW]

2 hours ago, Wight Flight said:

All in my street are the same, and I am not sure I will be there much longer anyway 

backdated to application date i think. if its free (is it?), no brainer to apply. only downside they can increase band ....

[Wight Flight]

53 minutes ago, BWW said:

backdated to application date i think. if its free (is it?), no brainer to apply. only downside they can increase band ....

Looks like I might have missed the boat ...

Quote

You can make a challenge within six months of:

• becoming a new council taxpayer
• the VOA notifying you that your banding has changed
• your property being demolished
• substantial changes happening in your local area that have affected your properties value.

You still must pay Council Tax if you make a challenge. If your challenge is successful, then you will get a refund.

 

[highbot]

How does BTL end?  With Hamas.

‘You have an obligation’: Israeli landlord demanded rent from woman abducted by Hamas, claims roommate

Israel-Hamas war news: Rather than showing empathy, the landlord of the apartment issued a warning that they might evict her and find a new tenant 

“Let it be clear to you: You have an obligation for the rent of 2,500 shekels [about $630 US]. You can talk to her parents about vacating the room,” the landlord reportedly added according to Walla News.

https://www.businesstoday.in/latest/world/story/you-have-an-obligation-israeli-landlord-demanded-rent-from-woman-abducted-by-hamas-claims-roommate-402058-2023-10-15

[Boglet]

19 hours ago, highbot said:

How does BTL end?  With Hamas.

‘You have an obligation’: Israeli landlord demanded rent from woman abducted by Hamas, claims roommate

Israel-Hamas war news: Rather than showing empathy, the landlord of the apartment issued a warning that they might evict her and find a new tenant 

“Let it be clear to you: You have an obligation for the rent of 2,500 shekels [about $630 US]. You can talk to her parents about vacating the room,” the landlord reportedly added according to Walla News.

https://www.businesstoday.in/latest/world/story/you-have-an-obligation-israeli-landlord-demanded-rent-from-woman-abducted-by-hamas-claims-roommate-402058-2023-10-15

The most Jewish thing ever

[roundhouse]

On 16/10/2023 at 13:52, Cold Cold Ground said:

Yes, I am wrong, they buy the house then sell on to an investor. So this should show up and falling prices as don’t expect they will be paying asking.

Do they sell on to an investor (after a age 60+ leaser has bought the lifetime lease)? Or keep the house in a fund-type organisation "for ever" with investors? A new kind of BTL?

[Wight Flight]

Just a hunch, but i am not sure this one really will be a long term let.

https://www.rightmove.co.uk/properties/141182357#/?channel=RES_LET

[leonardratso]

2 hours ago, Wight Flight said:

Just a hunch, but i am not sure this one really will be a long term let.

https://www.rightmove.co.uk/properties/141182357#/?channel=RES_LET

Dont be daft, course it will, look its got a free for sale sign in the front garden and a rolls royce in the garage.

 

[roundhouse]

Front page late last night (Mon) of bbc news... hidden early morning in the depths.

Section 21 reform, famously of the last manifesto, now cancelled. I'm fuming, was last night too. What's the point of politicians? What's the point of manifestos? What's the point of being an honest renter? 

Early start again so going away now. 

https://www.bbc.co.uk/news/uk-politics-67187411

 

[Wight Flight]

9 hours ago, roundhouse said:

Front page late last night (Mon) of bbc news... hidden early morning in the depths.

Section 21 reform, famously of the last manifesto, now cancelled. I'm fuming, was last night too. What's the point of politicians? What's the point of manifestos? What's the point of being an honest renter? 

Early start again so going away now. 

https://www.bbc.co.uk/news/uk-politics-67187411

 

Stupidity.

Banning section 21 evictions would have freed up court time for S.8 evictions.

[spygirl]

Housing PTB bring out the big guns - 

LIZ JONES: How eight years of renting drove me to drink, panic attacks and antidepressants

https://www.dailymail.co.uk/news/article-12668115/LIZ-JONES-eight-years-renting-drove-drink-panic-attacks-antidepressants.html

You first.

 

[spygirl]

The promise of banning S21 has done its jobs.

The heavy lifting of reversing IO BTL is being doe by S24 and higher IR.

S21 reforms is doign the job of scarign off banks from lending to LLs.

The constant on/off means they are even less keen.

 

[GTM]

23 minutes ago, spygirl said:

Housing PTB bring out the big guns - 

LIZ JONES: How eight years of renting drove me to drink, panic attacks and antidepressants

https://www.dailymail.co.uk/news/article-12668115/LIZ-JONES-eight-years-renting-drove-drink-panic-attacks-antidepressants.html

You first.

 

It looks like the roof is leaking in my rental at the moment. The tiles look OK and the guttering is clear so it is probably the felt, though the access from the loft isn't easy to check. It is fair to say that I am not bothered in the slightest by this turn of events. I'm not sure the landlord is quite so sanguine.