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How does Buy to Let END!


macca

What happens when generation rent retire with tiny pensions and massive rent bills!  

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The eviction ban is creating a wierd temporary state.

Rentals turnover more than OO.

Eviction ban means theres a lot of people not paying 100% of rent, which makes them v hard to evict.

Theres a lot of EUers not paying any rent. The chances of getting any money or the house back this year is zilch.

The biggest fallout, which will fuckover what remains of btl, is the eviction van.

Back in the 90s *all* ARLAs lobbying for btl loans to banks was that  SST gave a short, secure, cheap guarantee legal process for the bank to take possession of a rental.

 Without easy recovery of assets banks were not touching LL loans bar 50% deposit commercial loans repaid over 10-15y.

The eviction ban, which is still ongoing and has no definitive enc,  means no sane bank will touch LL loans now.

Guarantees  LL loans are moving over to unregaluated finance sector.

The comment on TOS when s24 came out is even more relevant - Sell now, sell everything.

For extra lolz the only area where BTLers could show some profit was London/SE.

Now, a combination of London prices falling for at least 5 years, LL buying plastic clad bonfires and emptying of London of workers, just leaving foreign doleys.

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On 05/03/2021 at 13:37, janch said:

well spotted

"This measure introduces a new Financial Institution Notice (FIN) that will be used to require financial institutions to provide information to HMRC when requested about a specific taxpayer, without the need for approval from the independent tribunal that considers tax matters.

It will also allow information and documents to be obtained for the purpose of collecting a tax debt and makes some technical changes.

Published 3 March 2021"

As long as they are poor or middle class.. 

The top 1% will continue to make out like bandits.. Considering MPs and their mates are all tax dodgers.. They won't make laws that effect themselves.. 

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On 14/03/2021 at 23:42, Wight Flight said:

It is.

Unless you need to rent somewhere to live.

Thats why people should have voted Corbyn to build social housing.  

A basic human right.. is a home..

Not to be a slave, or a pension for some parasite landlord.. 

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On 15/03/2021 at 10:42, Wight Flight said:

It is.

Unless you need to rent somewhere to live.

yeah, because I hear that if a landlord goes bust they knock down the houses so they are lost for ever....

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On 14/03/2021 at 21:14, Wight Flight said:

Which means no glowing reference and therefore no chance of renting somewhere else.

When all these outstanding evictions happen, we could have the very interesting situation of lots of homeless people and lots of empty properties as the landlords pick from a much smaller group of 'safe' tenants.

won't happen.  In my experience in Australia, landlords say they will not rent to more risky tenants, but after 1-2-3 months of voids and no money coming in to pay the mortgage, they quickly change their tune.

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2 hours ago, wherebee said:

won't happen.  In my experience in Australia, landlords say they will not rent to more risky tenants, but after 1-2-3 months of voids and no money coming in to pay the mortgage, they quickly change their tune.

Yep.

They are price takers not price makers.

I say i say i say - What do you call a LL with no tenants

...

Bust.

 

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5 hours ago, wherebee said:

won't happen.  In my experience in Australia, landlords say they will not rent to more risky tenants, but after 1-2-3 months of voids and no money coming in to pay the mortgage, they quickly change their tune.

Wightflight is talking about an area where demand for rented accommodation is running way above available supply.

In that scenario he may be correct as there won't be 1-3 months of voids. His last battle was  finding a property that wasn't already taken within 30 seconds of it appearing on rightmove. 

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8 hours ago, macca said:

Thats why people should have voted Corbyn to build social housing.  

A basic human right.. is a home..

Not to be a slave, or a pension for some parasite landlord.. 

Voting Tory got us freedom and laissez faire capitalism!

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Wight Flight
2 hours ago, eek said:

Wightflight is talking about an area where demand for rented accommodation is running way above available supply.

In that scenario he may be correct as there won't be 1-3 months of voids. His last battle was  finding a property that wasn't already taken within 30 seconds of it appearing on rightmove. 

It has got even worse since then.

There are now only 3 x 3 bed properties within a 50 minute commute of where I work.

8  x 3 bed houses currently available in total for the whole Island (population 144k)

 

 

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Wight Flight

Just completed my census.

Nice to know that they should now have details of every address that is privately rented in the UK.

I look forward to receiving the email asking for my landlord's details and how much rent I pay.

I live in hope.

 

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Frank Hovis
On 14/03/2021 at 23:59, Andersen said:

Scenario

Loads of LL's sell up, loads of cheap properties become available for FTB's etc :Beer: 

Existing homeowners realise this new supply of homes has killed the value of their own home O.o 

Ex-tennants realise that the number of places available to rent has dropped *lots*, LL's now refuse to rent to anyone who has less than perfect credit score / can't provide 2 references from their grandparents O.o Rents won't drop - will they rise? How much?? 

Does anybody win? :/

 

Surely everybody wins bar BTLers taking the loss and people who liked to brag about the value of their house down the pub?

If you have 10m houses owned by BTLs and rented out and 5m are put onto the market in a short time, crashing prices, then 5m previously renting can now buy.

Leaving 5m renters in 5m rented houses.  BTLers can take your approach wrt refeences but if that just means that the property is void then they won't continue to take that approach for very long.

Your scenario is missing that every new FTB means one less renter.  They balance out.

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Wight Flight
29 minutes ago, Frank Hovis said:

 

Surely everybody wins bar BTLers taking the loss and people who liked to brag about the value of their house down the pub?

If you have 10m houses owned by BTLs and rented out and 5m are put onto the market in a short time, crashing prices, then 5m previously renting can now buy.

Leaving 5m renters in 5m rented houses.  BTLers can take your approach wrt refeences but if that just means that the property is void then they won't continue to take that approach for very long.

Your scenario is missing that every new FTB means one less renter.  They balance out.

Sorry Frank but you are completely overlooking the huge numbers of 30 ish year olds still living at home.

A large number of these will be the first to be able to swoop if property becomes slightly more affordable, meaning that the drop in available houses won't be matched by a drop in renters.

(There are also possibly a large number of divorced / want to be divorced couples still living together that again would leap at the chance to get a second property)

 

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8 minutes ago, Wight Flight said:

Sorry Frank but you are completely overlooking the huge numbers of 30 ish year olds still living at home.

A large number of these will be the first to be able to swoop if property becomes slightly more affordable, meaning that the drop in available houses won't be matched by a drop in renters.

(There are also possibly a large number of divorced / want to be divorced couples still living together that again would leap at the chance to get a second property)

 

Its not as simple as that, what if 2 x 30 year olds who are renting separately become a couple and buy one of these houses. What if 1 30yo living at home moves in with a 30yo renter who bought from the landlord.

Then when prices fall more people are looking to buy so more houses get built. (i know with our rigged market thats unlikely as it'd be capitalism in action)

 

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Frank Hovis
12 minutes ago, Wight Flight said:

Sorry Frank but you are completely overlooking the huge numbers of 30 ish year olds still living at home.

A large number of these will be the first to be able to swoop if property becomes slightly more affordable, meaning that the drop in available houses won't be matched by a drop in renters.

(There are also possibly a large number of divorced / want to be divorced couples still living together that again would leap at the chance to get a second property)

 

Okay it's not an equal match but I know several reasonably affluent families renting because they can't afford to buy and they will buy when and if they are able to resulting in the number of renters dinimishing,

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1 hour ago, Wight Flight said:

Just completed my census.

Nice to know that they should now have details of every address that is privately rented in the UK.

I look forward to receiving the email asking for my landlord's details and how much rent I pay.

I live in hope.

 

Do you pay by bank transfer?

If so they know.

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On 15/03/2021 at 07:19, spygirl said:

The eviction ban is creating a wierd temporary state.

Rentals turnover more than OO.

Eviction ban means theres a lot of people not paying 100% of rent, which makes them v hard to evict.

Theres a lot of EUers not paying any rent. The chances of getting any money or the house back this year is zilch.

The biggest fallout, which will fuckover what remains of btl, is the eviction van. (Ban)

I see on kieser Report the US government are planning a bailout for landlords to pay all the missed rent payments..  

Reason being Blackrock and other huge corporate lobbiests own massive retail portfolios.. 

Once again the evil corrupt rigged market comes to the rescue of the billionaires to steal money from the peasants.. 

Its being labeled as a help the poor pay their debts. But of course its not.. 

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On 18/03/2021 at 12:49, Wight Flight said:

Just completed my census.

Nice to know that they should now have details of every address that is privately rented in the UK.

I look forward to receiving the email asking for my landlord's details and how much rent I pay.

I live in hope.

 

In the data protection section it says no data will be shared with other government departments.. even lists departments such as child benefits as ones that won't have access. 

I find that hard to believe.. They don't want the data to improve our services.. they spent 11 years destroying them.. 

97% of rapists are never convicted because of Tory cuts.. Maybe they are trying to get that to a nice round 100% for their rapist lobbiests.. 

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24 minutes ago, macca said:

I see on kieser Report the US government are planning a bailout for landlords to pay all the missed rent payments..  

Reason being Blackrock and other huge corporate lobbiests own massive retail portfolios.. 

Once again the evil corrupt rigged market comes to the rescue of the billionaires to steal money from the peasants.. 

Its being labeled as a help the poor pay their debts. But of course its not.. 

Kieser repost is not a paper of record.

Its just Russian funded BS.

 

 

 

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Frank Hovis
On 21/03/2021 at 10:05, spygirl said:

Kieser repost is not a paper of record.

Its just Russian funded BS.

 

 

 

Yes.

I read Russia Today for its objectivity on most issues but then you get the Keiser report.

He seems to be on a two week rotation of "dollar to collapse" and then "buy gold".

For propaganda to be any good it has to be credible rather than laughable.

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On 22/03/2021 at 16:40, Frank Hovis said:

Yes.

I read Russia Today for its objectivity on most issues but then you get the Keiser report.

He seems to be on a two week rotation of "dollar to collapse" and then "buy gold".

For propaganda to be any good it has to be credible rather than laughable.

He was the first main stream broadcaster calling out the Ponzi economy for what it is, and he does have some good guest from time to time.

He just needs to stop going on about bitcoin all the time.

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goldbug9999
3 hours ago, Hancock said:

He just needs to stop going on about bitcoin all the time.

To be fair though, it was his banging on about it back in 2013 that prompted me buy some. 

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On 19/03/2021 at 00:54, spygirl said:

Do you pay by bank transfer?

If so they know.

LOL no they don't.  Do you know how shit governments are at big data (unless it involves hate crimes)

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6 hours ago, goldbug9999 said:

To be fair though, it was his banging on about it back in 2013 that prompted me buy some. 

Yes i should have bought in 2010 when watching him. But a touch of variety on his show wouldn't go a miss. Its become mundane and he is now a caricature of himself.

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