How does Buy to Let END!

[No One]

Tomorrow is next BOE meeting

[Ash4781b]

1 hour ago, No One said:

Tomorrow is next BOE meeting

Really ?

[Boon]

Think he means the Fed

Although probably not gonna be a intermeeting rate rise, the markets would shit their pants if it was.

 

 

[No One]

50 minutes ago, Ash4781b said:

Really ?

 

35 minutes ago, Boon said:

Think he means the Fed

Although probably not gonna be a intermeeting rate rise, the markets would shit their pants if it was.

 

 

My fault, is the 3rd of nect month.

 

[JohnnyB]

11 hours ago, No One said:

 

My fault, is the 3rd of nect month.

 

Why is there no October meeting? Lazy fucking greedy shits can't even be bothered to do 1 day a month when inflation at 10%.

[eek]

2 hours ago, JohnnyB said:

Why is there no October meeting? Lazy fucking greedy shits can't even be bothered to do 1 day a month when inflation at 10%.

Meetings were moved from monthly to every 6 weeks back in 2019 or so.

I suspect at some point they may return to monthly meetings.

[Boon]

24 minutes ago, eek said:

Meetings were moved from monthly to every 6 weeks back in 2019 or so.

I suspect at some point they may return to monthly meetings.

Yeah, when inflation is on the way down and its a cutting cycle....

[JohnnyB]

1 hour ago, eek said:

Meetings were moved from monthly to every 6 weeks back in 2019 or so.

I suspect at some point they may return to monthly meetings.

Ah thanks

[Wight Flight]

2 hours ago, eek said:

Meetings were moved from monthly to every 6 weeks back in 2019 or so.

I suspect at some point they may return to monthly meetings.

I hope they took a pay cut.

[spygirl]

5 hours ago, eek said:

Meetings were moved from monthly to every 6 weeks back in 2019 or so.

I suspect at some point they may return to monthly meetings.

And maybe weekly ...

[JohnnyB]

Had the pleasure of speaking to my ex-landlord recently

She immediately launched into a rant about electrical check regulations, agents won't let a place out without the certificates which is costing her a grand. Also moaning about the lazy letting agents (she would moan if you asked her to deal with tradesmen herself rather than taking a day off just to let them in - she lives 10 min away and doesn't have a real job).

I doubt she has the maths skills to calculate the hit if the BTL rates go to 6%. She would think the BoE is just a standard bank company you can withdraw tenners from.

She also had relatively lucked out with buying in a boom city and UK holiday destinations. And still has fucked it up. Some tennents currently not paying 

 

It's going to be a bloodbath for the average BTLer

Edited October 3, 2022 by JohnnyB

[HousePriceMania]

 

it looks like it's ending....

 

[spygirl]

1 hour ago, HousePriceMania said:

 

it looks like it's ending....

 

Always thst magic 4%

Fuckwitted properdee all piled in at that yield.

Fucking mental.

Resi mortgages now touching 6%

Io btl will be 8%+

[HousePriceMania]

1 hour ago, spygirl said:

Always thst magic 4%

Fuckwitted properdee all piled in at that yield.

Fucking mental.

Resi mortgages now touching 6%

Io btl will be 8%+

Needs 10% yield min, so 50-60% off 

[spygirl]

32 minutes ago, HousePriceMania said:

Needs 10% yield min, so 50-60% off 

Yep.

[HousePriceMania]

 

[HousePriceMania]

And another 

 

 

 

 

House prices of the last 2 years are unsustainable now 

[MightyTharg]

3 hours ago, HousePriceMania said:

And another 

 

 

 

 

House prices of the last 2 years are unsustainable now 

So more wannabe FTB’s are forced to rent. Which is bad for BTL how?

[Guest]

5 hours ago, MightyTharg said:

So more wannabe FTB’s are forced to rent. Which is bad for BTL how?

If neither FTBs nor BTLs can afford to pay current prices but FTBs can outbid BTLs (7% mortgage stress test vs 8.5% mortgage stress test) then current prices will drop and FTBs will end up buying the properties.

[spygirl]

9 hours ago, HousePriceMania said:

And another 

 

 

 

 

House prices of the last *15* years are unsustainable now 

 

[spygirl]

5 hours ago, MightyTharg said:

So more wannabe FTB’s are forced to rent. Which is bad for BTL how?

With S24 a IO BTL will soon hit the higher rate tax bracket with a couple of BTLs and n average job.

45% of rental income will be taxed away.

To 'rise rates' the IO BTLer is going to have increase by 2x the IR increases jist to stand still.

Rents hit the local LHA and stick there.

 

 

[Ash4781b]

9 hours ago, HousePriceMania said:

And another 

 

 

 

 

House prices of the last 2 years are unsustainable now 

Who is that some bird off twitter? Mortgage broker? 

[Wight Flight]

45 minutes ago, Darude said:

If neither FTBs nor BTLs can afford to pay current prices but FTBs can outbid BTLs (7% mortgage stress test vs 8.5% mortgage stress test) then current prices will drop and FTBs will end up buying the properties.

Except the BTL will be tested interest only, the FTB I assume is capital and interest.

Whichever way it significantly reduced the amount either can borrow.

[HousePriceMania]

1 hour ago, Ash4781b said:

Who is that some bird off twitter? Mortgage broker? 

Jane King

@ashridgepf

 

Director and Independent, Fee-Free Mortgage & Equity Release Adviser. Guest Commentator BBC/LBC/ITV/Times Radio and National Press

[HousePriceMania]

6 hours ago, MightyTharg said:

So more wannabe FTB’s are forced to rent. Which is bad for BTL how?

That's an interesting point.  Unless of course the BTL landlord can no longer afford the mortgage or to live off the rent.  Then they need to sell.  

 

Not all BTLers will be in this position but the over levered will.

Cue Fergus Wilson appearing in the news again