How does Buy to Let END!

[spygirl]

Landlords demand high earners have guarantors as rents soar

 

Even tenants earning over £50,000 a year are being forced to turn to parents in an ‘infantilising’ housing market

 

[DurhamBorn]

On 10/07/2023 at 12:55, spygirl said:

Id bet money that Mar 05 buy was a potfolio builder.

Who may or may not splashed some paint, then flipped it and prob several more as an off eh shelf BTL portolfio to some idiot.

Lucky escape on price  only 10k down.

Ive a lot with 30k - 40k off.

And thats not takign into account the cost and hassle of running a NE BTL for ~15 years.

 

 

 

Lots of my friends owned houses in those streets.Worth £15k.Then southerners started buying them for £65k.Local estate agent whos husband made his money on sniff then started to buy them and flip to southerners who never saw the houses.My mates used to get the keys off the sellers and make a copy.Once the sales went through they used to go in and strip the boilers and copper out etc before the buyers changed the locks.Locals thought they would never sell them and be stuck in those houses for life,but offloaded them to those southern idiots.Its a shithole now,and the irony is lots of southern bennie claims are renting them.Very unlikely anyone would buy them to live in unless maybe the odd older single bloke wanting a cheap place.

[sancho panza]

9% is still bugger all for the grief and non payments involved.you can buy BATS for that

https://www.mortgagestrategy.co.uk/news/london-hmos-generate-lowest-yields-in-britain-paragon/

London HMOs generate lowest yields in Britain – Paragon

By Daniel Cooper 14^th July 2023 11:39 am

Houses in Multiple Occupation (HMO) in London are generating the lowest yields in Britain, data from Paragon Bank reveals.

The stats from the buy-to-let specialist, based on applications, show that Welsh HMOs top the tables – producing an average yield of 9.01%.

This is generated from an average £29,100 rental income and an average £322,000 valuation.

Yorkshire & Humber comes in at second place on the list, with landlords in the region generating a yield of 8.61% on HMOs. The North West is in third spot at 8.33%.

The research shows that HMOs in five British regions generate a yield of more than 8%.

However, London is bottom of the regional HMO yield table, generating 6.13% from rental income of £52,900 and an average property value of £863,000.

Paragon says yields on HMOs are usually higher than other property types as they are let on a per-room basis but are typically more expensive to run due to increased maintenance costs.

[sancho panza]

Im spamming this site tonight but there;'s some reet gems on it

this is ending well.....

https://www.mortgagestrategy.co.uk/news/renters-who-must-provide-guarantors-almost-doubles-goodlord/

Renters who must provide guarantors almost doubles: Goodlord  

By Roger Baird 14^th July 2023 10:02 am

The number of tenants on high incomes that are being asked by landlords to provide guarantors has almost doubled over the last three years, data from Goodlord shows.  

The rental platform’s survey says the proportion of renters earning between £50,000 and £74,999 required to provide a guarantor has jumped by 92% since 2020.  

It points out that in 2020, 1.35% of earners in this bracket were required to secure their tenancy with a guarantor, rising to 2.59% this year. 

The average salary for a full-time employee last year was £33,000, up from £31,461 in 2020, according to Office for National Statistics.   

The number of renters earning between £25,000 to £50,000 being asked to provide a guarantor has also jumped by 58% over the last three years.  

In 2020, 3.7% of tenants in this bracket were asked to provide a guarantor, rising to 5.84% of renters this year.  

   

[AWW]

I find the whole tenant vetting industry to be absolutely retarded tbh. I had 10 months left on my work contract when I moved into our current rented house. Even though I would earn several multiples of the annual rent during those 10 months, they still demanded to see a savings account with at least two months' rent in it, to cover the period of time after the contract ended. I could have spent those savings the next day and jacked work in the next week. I wonder how much those useless twats charge. Similar fuckwittery when you get a new job. Being a contractor, I have loads of gaps. During some of them, I travelled. To "prove" this, I had to send them a copy of a hotel or flight booking email - which I could obviously have just typed up myself. Again, makes you wonder how much they charge for such a rigorous service.

[Wight Flight]

1 hour ago, sancho panza said:

Im spamming this site tonight but there;'s some reet gems on it

this is ending well.....

https://www.mortgagestrategy.co.uk/news/renters-who-must-provide-guarantors-almost-doubles-goodlord/

Renters who must provide guarantors almost doubles: Goodlord  

By Roger Baird 14^th July 2023 10:02 am

The number of tenants on high incomes that are being asked by landlords to provide guarantors has almost doubled over the last three years, data from Goodlord shows.  

The rental platform’s survey says the proportion of renters earning between £50,000 and £74,999 required to provide a guarantor has jumped by 92% since 2020.  

It points out that in 2020, 1.35% of earners in this bracket were required to secure their tenancy with a guarantor, rising to 2.59% this year. 

The average salary for a full-time employee last year was £33,000, up from £31,461 in 2020, according to Office for National Statistics.   

The number of renters earning between £25,000 to £50,000 being asked to provide a guarantor has also jumped by 58% over the last three years.  

In 2020, 3.7% of tenants in this bracket were asked to provide a guarantor, rising to 5.84% of renters this year.  

   

Increased from 1.35% to 2.59%.

What a bollocks story. 

[sancho panza]

4 minutes ago, Wight Flight said:

Increased from 1.35% to 2.59%.

What a bollocks story. 

The juice of the story was this tit bit.This is a fair chunk of new business.i presume the bulk of the increase is in the last 10 months

'The number of renters earning between £25,000 to £50,000 being asked to provide a guarantor has also jumped by 58% over the last three years.  

In 2020, 3.7% of tenants in this bracket were asked to provide a guarantor, rising to 5.84% of renters this year. '

 

[Wight Flight]

2 minutes ago, sancho panza said:

The juice of the story was this tit bit.This is a fair chunk of new business.i presume the bulk of the increase is in the last 10 months

'The number of renters earning between £25,000 to £50,000 being asked to provide a guarantor has also jumped by 58% over the last three years.  

In 2020, 3.7% of tenants in this bracket were asked to provide a guarantor, rising to 5.84% of renters this year. '

 

It's a rule that really fucks up older renters.

Just do what most do here and pay 12 months up front. After credit checking the landlord, obviously.

[spygirl]

10 hours ago, sancho panza said:

Im spamming this site tonight but there;'s some reet gems on it

this is ending well.....

https://www.mortgagestrategy.co.uk/news/renters-who-must-provide-guarantors-almost-doubles-goodlord/

Renters who must provide guarantors almost doubles: Goodlord  

By Roger Baird 14^th July 2023 10:02 am

The number of tenants on high incomes that are being asked by landlords to provide guarantors has almost doubled over the last three years, data from Goodlord shows.  

The rental platform’s survey says the proportion of renters earning between £50,000 and £74,999 required to provide a guarantor has jumped by 92% since 2020.  

It points out that in 2020, 1.35% of earners in this bracket were required to secure their tenancy with a guarantor, rising to 2.59% this year. 

The average salary for a full-time employee last year was £33,000, up from £31,461 in 2020, according to Office for National Statistics.   

The number of renters earning between £25,000 to £50,000 being asked to provide a guarantor has also jumped by 58% over the last three years.  

In 2020, 3.7% of tenants in this bracket were asked to provide a guarantor, rising to 5.84% of renters this year.  

   

Then they dont have a market.

Its that simple.

 

[spygirl]

9 hours ago, AWW said:

I find the whole tenant vetting industry to be absolutely retarded tbh. I had 10 months left on my work contract when I moved into our current rented house. Even though I would earn several multiples of the annual rent during those 10 months, they still demanded to see a savings account with at least two months' rent in it, to cover the period of time after the contract ended. I could have spent those savings the next day and jacked work in the next week. I wonder how much those useless twats charge. Similar fuckwittery when you get a new job. Being a contractor, I have loads of gaps. During some of them, I travelled. To "prove" this, I had to send them a copy of a hotel or flight booking email - which I could obviously have just typed up myself. Again, makes you wonder how much they charge for such a rigorous service.

No.

The rental/LL industry is mainly highly trained professionals ...

[spygirl]

 

From TOS

[leonardratso]

wonderful people.

[Boglet]

I don't think I can watch that, I've read a few of the comments and I don't want to do that to myself when I've had a pretty good day and I'm quite chilled out.

[Bilbo]

This should help the btl brigades. I think a few on here have commented on that the housing allowance has not been raised since 2020. Cart and horse driven through that by the government paying more to house the (insert your own profanity).

Mail story...sorry.

https://www.dailymail.co.uk/news/article-12302793/Thousands-British-families-left-homeless-Home-Office-pays-odds-house-migrants.html

[One percent]

32 minutes ago, Bilbo said:

This should help the btl brigades. I think a few on here have commented on that the housing allowance has not been raised since 2020. Cart and horse driven through that by the government paying more to house the (insert your own profanity).

Mail story...sorry.

https://www.dailymail.co.uk/news/article-12302793/Thousands-British-families-left-homeless-Home-Office-pays-odds-house-migrants.html

Inevitable really.  Yet the government still are doing nothing to stop the flow. And remember, the dinghy divers are just a distraction, there were over a million visas handed out last year.  At what point and how does this end?   

[spygirl]

2 hours ago, Bilbo said:

This 32-year-old has been living at a Travelodge with her two sons aged 14 and 11 and ten-month-old daughter, since she was evicted from her previous house after the landlord raised the rent. should help the btl brigades. I think a few on here have commented on that the housing allowance has not been raised since 2020. Cart and horse driven through that by the government paying more to house the (insert your own profanity).

Mail story...sorry.

https://www.dailymail.co.uk/news/article-12302793/Thousands-British-families-left-homeless-Home-Office-pays-odds-house-migrants.html

The 32-year-old has been living at a Travelodge with her two sons aged 14 and 11 and ten-month-old daughter, since she was evicted from her previous house after the landlord raised the rent. 

HB benefit needs to leave the PRS.

All thats happened is that scratters n migrants have flooded in usign tax payers money.

Build cheap stacked limited accomodation. Put single mums in them.

 

[Wight Flight]

44 minutes ago, spygirl said:

The 32-year-old has been living at a Travelodge with her two sons aged 14 and 11 and ten-month-old daughter, since she was evicted from her previous house after the landlord raised the rent. 

HB benefit needs to leave the PRS.

All thats happened is that scratters n migrants have flooded in usign tax payers money.

Build cheap stacked limited accomodation. Put single mums in them.

 

Why couldn't she move to Leeds?

The lad hasn't started his GCSE year yet, and even if he had i doubt it would make any difference.

In my book she is intentionally homeless.

[spygirl]

1 minute ago, Wight Flight said:

Why couldn't she move to Leeds?

The lad hasn't started his GCSE year yet, and even if he had i doubt it would make any difference.

In my book she is intentionally homeless.

Im with @DurhamBorn

We dont want yet another fat useless Southern single mother,

The cost and hassle of those should fall on their LA

[Wight Flight]

Just now, spygirl said:

Im with @DurhamBorn

We dont want yet another fat useless Southern single mother,

The cost and hassle of those should fall on their LA

I assume their LA would have to pay Leeds to take her?

And actually this one isn't fat. @Lowest level enabler would. (That doesn't work as well now)

[ccc]

1 minute ago, Wight Flight said:

I assume their LA would have to pay Leeds to take her?

And actually this one isn't fat. @Lowest level enabler would. (That doesn't work as well now)

I shall be changing soon once the month is up!

Bringing back German Burd too. 

[Wight Flight]

Just now, Lowest level enabler said:

I shall be changing soon once the month is up!

Bringing back German Burd too. 

Be careful the wind doesn't change and you get stuck like that.

[ccc]

Just now, Wight Flight said:

Be careful the wind doesn't change and you get stuck like that.

Talking which some wind at the jock open today. Quality watching. 

[Wight Flight]

2 minutes ago, ccc said:

Talking which some wind at the jock open today. Quality watching. 

What channel?

[ccc]

Just now, Wight Flight said:

What channel?

Sky golf. Started early as wind looking too much for later. 

[spygirl]

2 minutes ago, Wight Flight said:

I assume their LA would have to pay Leeds to take her?

And actually this one isn't fat. @Lowest level enabler would. (That doesn't work as well now)

Im not sure.

The funding tends to be limited, both in time n dollops.

 Middlesbrough council decided that housing migrants was a sure fire money spinner.

The terms then were home office would provide funding for 2 or 3 years

The sensible voice i.e. anyone not a Labour councillor questioned    what happened after 2-3 years is up.

But no, migrants would bring money and prosperity to the town.

This was only 10 years ago.

Boro is an even more massive shithole now.

https://www.thenorthernecho.co.uk/news/23571025.plans-house-1-000-asylum-seekers-middlesbrough-barge/