How does Buy to Let END!

[Boon]

Well, if you're a tenant then your rights have improved quite a bit.

For a landlord I don't see how it is an issue. Presumably the law doesn't force you to offer the same price to everyone, so you could simply accept a tenant with pets in exchange for more money. Or a discount to those without kids. 

The ones that will get nervous are those who a repair bill of a few thousands gets them worried, or those whose property was previously their home and thus they don't like the idea of a dog ruining their old things that they liked.

Not a bad thing that these types of landlords are squeezed out really.

Edited May 17, 2023 by Boon

[Wight Flight]

1 hour ago, Boon said:

Well, if you're a tenant then your rights have improved quite a bit.

For a landlord I don't see how it is an issue. Presumably the law doesn't force you to offer the same price to everyone, so you could simply accept a tenant with pets in exchange for more money. Or a discount to those without kids. 

The ones that will get nervous are those who a repair bill of a few thousands gets them worried, or those whose property was previously their home and thus they don't like the idea of a dog ruining their old things that they liked.

Not a bad thing that these types of landlords are squeezed out really.

I did hear earlier that there have been over 50k S21 notices issued over the last 4 years.

12,500 a year over 11m renters doesn't seem to be that big an issue to me.

[spygirl]

https://www.property118.com/will-landlords-insurance-still-pay-out-with-end-of-section-21/

Reply to the comment left by Sally Black at 17/05/2023 - 17:02
Yep I'm with you the sell up. I think the rental market will become major PLC's who can afford the losses. Landlord with a portfolio of 15 can't.
Apparently it's to prevent revenge eviction from disrepair. So is he saying councils are not using their enforcement powers under part 1 of the Housing Act 2004 or are they just desperate to get votes?

I'd hazard a guess at how many houses the fkwit LL has ..

Why does he think a 'major PLC' can afford losses?

Which one is he thinking off? Boots? MaccyD?? Purple Bricks ....

[Boon]

Much like the cladding shit I do believe a lot of them are just being dramatic in the hopes that some kind of government action will save the day.

But also I do think a lot of them are all talk and no action, at least the unleveraged/low leverage ones. They'll continue to take losses and grumble and just hope that some kind of props will arrive to make the markets go up again, because that was what happened in the past.

For the leveraged, it was game over anyway but they'll try and blame stuff like this and Truss even though it makes no difference in the grand scheme of things.

I mean you can read this and laugh:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4807288-to-come-down-like-a-tonne-of-bricks

Getting rid of landlords like this is a good thing overall. There are just too many 'accidentals'; basically anyone with a mortgage could be one via consent to let.

[spygirl]

8 hours ago, Boon said:

Much like the cladding shit I do believe a lot of them are just being dramatic in the hopes that some kind of government action will save the day.

But also I do think a lot of them are all talk and no action, at least the unleveraged/low leverage ones. They'll continue to take losses and grumble and just hope that some kind of props will arrive to make the markets go up again, because that was what happened in the past.

For the leveraged, it was game over anyway but they'll try and blame stuff like this and Truss even though it makes no difference in the grand scheme of things.

I mean you can read this and laugh:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4807288-to-come-down-like-a-tonne-of-bricks

Getting rid of landlords like this is a good thing overall. There are just too many 'accidentals'; basically anyone with a mortgage could be one via consent to let.

Yeah ... the low / unleveraged IO BTL will be OK ... all 2 of them.

Seriously.

IO BTL = leverage to the moon.

 

[spygirl]

I became an accidental landlady so I don't know what the best thing is to do

Look ... I vote Labour and work for a chartiee ... Im not a bad person or a capitalist ....  and support women but really, if you dont pay me 2k/rent for my studio flat ... Im just going to have to evict you n your kids and let it to some men ...

 

 

Yes I did say 5 days to make it up

Gosh I cried and cried yesterday over this

Then worried it would be too harsh to get solicitor involved

[spygirl]

So I paid some men form the pub to go round and threaten to beat up the woman...

Also if I sell the house

It would be a section 21 notice and three months for them to leave?

Apologies for all the questions

hahaha

[marceau]

4 minutes ago, spygirl said:

So I paid some men form the pub to go round and threaten to beat up the woman...

Also if I sell the house

It would be a section 21 notice and three months for them to leave?

Apologies for all the questions

hahaha

Same as the fruitfarm couple you posted on the other thread - they're the Bolshevik cliche of the Kulak come to life. A lefty's dream target, flauting their vileness to the nation shortly before a prog government comes in. Liquidation awaits.

These types are how 'class enemy' rhetoric gains traction, absolute fucking idiots.

[GTM]

12 hours ago, Boon said:

I mean you can read this and laugh:

https://www.mumsnet.com/talk/am_i_being_unreasonable/4807288-to-come-down-like-a-tonne-of-bricks

Getting rid of landlords like this is a good thing overall. There are just too many 'accidentals'; basically anyone with a mortgage could be one via consent to let.

They don't just need to be got rid of. They need to have their faces ripped off pour encourager les autres.

Can't be arsed to educate themselves on their own responsibilities then pleads oh woe is me (accidental landlord) and tries to get a load of free advice at the very first bump in the road while expecting 100% compliance from the tenants. What an absolute cunt.

[Guest]

 

[HousePriceMania]

BLT has crashed...

 

 

[Andersen]

Link for future reference - Decent Homes Standard is one to watch (if it doesn't get kicked into the long grass) 

 

[spygirl]

4 hours ago, Darude said:

 

Now stahts a good chart and plots somethign I was alwats intrested in - numberof BTL mortgages.

@sancho panza

Id love to se the chart from 2000.

 

[One percent]

4 hours ago, Darude said:

 

Maybe they have just paid off the mortgage with the vast sums of money made. 

[Guest]

1 hour ago, spygirl said:

Now stahts a good chart and plots somethign I was alwats intrested in - numberof BTL mortgages.

@sancho panza

Id love to se the chart from 2000.

 

I've looked on the UK Finance website before, I think you have to be an 'Industry Member' to see their data

[spygirl]

41 minutes ago, Darude said:

I've looked on the UK Finance website before, I think you have to be an 'Industry Member' to see their data

Without seeing since s24/2016ish I'd only have to assume theyve going up.

You'd have thought nit al btler would be tital fkeits and be able to read n understand  s24.

You'd be fucking wrong.

I genuinely thought btl would fall by30% from s24.

That's 2m very highly leveraged fuckwits the wrong side of s23 n IR rises.

At the current 50k/mortgage approvals /month thats touching 4y of sales.

[MrXxxx]

Just reading the title made me 'come over all Warm and fuzzy' :-)

https://www.msn.com/en-gb/money/other/there-s-absolutely-no-incentive-to-invest-in-property-anymore/ar-AA1bmaP9?ocid=mailsignout&pc=U591&cvid=7567485ed088421994c0f4d89425ecd3&ei=39

...and with all these BTL LL [supposedly] 'running for the exit' it looks as though the property crash we have been waiting for will arrive even more quickly! :-)

[Wight Flight]

5 minutes ago, MrXxxx said:

Just reading the title made me 'come over all Warm and fuzzy' :-)

https://www.msn.com/en-gb/money/other/there-s-absolutely-no-incentive-to-invest-in-property-anymore/ar-AA1bmaP9?ocid=mailsignout&pc=U591&cvid=7567485ed088421994c0f4d89425ecd3&ei=39

...and with all these BTL LL [supposedly] 'running for the exit' it looks as though the property crash we have been waiting for will arrive even more quickly! :-)

Agreed.

Landlords have bid up the prices so much no renter could afford to buy without a 50% drop.

it will be interesting to watch.

[spygirl]

9 hours ago, MrXxxx said:

Just reading the title made me 'come over all Warm and fuzzy' :-)

https://www.msn.com/en-gb/money/other/there-s-absolutely-no-incentive-to-invest-in-property-anymore/ar-AA1bmaP9?ocid=mailsignout&pc=U591&cvid=7567485ed088421994c0f4d89425ecd3&ei=39

...and with all these BTL LL [supposedly] 'running for the exit' it looks as though the property crash we have been waiting for will arrive even more quickly! :-)

OMFG!

So many good LL who charge a below market rent are leaving the sector ...

Most moaning about removal of S21.

 Thing is S21 just doesnt work the way - and as fast - as theyd think it does.

I've been a landlord for nearly 20 years.

I know a landlord who has begun to give notice to tenants, some he has had for 15 years

SO .... pretty much since ZIRP?

K Jig: “I rented in another country outside Europe for ten years, really beautiful places and as my salaries increased, I moved to somewhere even better. One problem in the UK is renting is seen as permanent and it is not!

“There is too much interference, there needs to be some basic laws for safety, although I don't remember being in any danger where I lived and the properties were far superior to anything in the UK. It is best to leave it to the market. The more property available, the more tenants can choose and landlords could improve the quality.

“If the number of properties available dries up, then the landlords will have the power, and what we are seeing here in London is people offering a year's rent in advance to ensure they can rent. 

“What appears to be unique to the UK is tenants trashing a property, and in all my time abroad, I never once heard of that.”

Thats a scumlord, renting to the social or 'irregular migrant' sector.

I always get the feeling of this rage against the comment - Gove seems to getting the focus of it.

No doubt the BoE will get it too, as it continues to raise IR. I mean, who the fuck could believe that base rates could rise to 4.5%?

Thats a once in a 2000 year event right?

But the thing thats missing so far is rage against banks.

Banks being cunts are always the major thing at the end of  some leveraged fuckwittery/cycle.

I expect th above posters will be lobbying Gove for some bank rules as their house n postfolio is repo'd.

Its coming. Theres no way those IO BTL SVR are not creating massive pain.

And, as always. the S24 changes were flagged for ~8years. They just appear to biting when IR are going up.

 

 

 

 

[JoeDavola]

Private rents up 10% this year with demand far outstripping supply - 50% decrease in supply since 2015:

https://www.bbc.co.uk/news/uk-northern-ireland-65624843.amp

Edited May 19, 2023 by JoeDavola

[Guest]

Got our notice of rent increase through this week, up 3% which is the rent cap for private rentals in Scotland. Pretty happy with that, I doubt the landlord will be too pleased. The free market has failed, govern me harder daddy.

Also the notice is effective from September and can only be issued once a year so that's our rent effectively fixed until September 2024. Be interesting to see where the BoE base rate is by then, could be literally anything between -2% and +12%.

Edited May 19, 2023 by Guest

[JoeDavola]

1 hour ago, Darude said:

Got our notice of rent increase through this week, up 3% which is the rent cap for private rentals in Scotland.

Wish we had that cap in NI!

[Guest]

.

Edited May 19, 2023 by Guest

[GTM]

The rental I left in March is now on the market. It was owned by a professional landlord who has his own staff for repairs. Up for £500K, when I was renting at £1650. I'll be watching this one with interest.

[HousePriceMania]

15 minutes ago, GTM said:

The rental I left in March is now on the market. It was owned by a professional landlord who has his own staff for repairs. Up for £500K, when I was renting at £1650. I'll be watching this one with interest.

, worth 200-300K tops.