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Housing market

andyoz said:
Totally agree. I think the amount of over leveraged BTL owners needs to be flushed out. When things get tight for them, they will just try to unload it onto their tenants...
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There were large numbers of overleveraged BTL buyers in 2007-8. I saw one such on a docu, she worked in an estate agents, wasn't wealthy, and decided that a trendy flat in Liverpool's dock area was a surefire money earner. However she hadn't done her arithmetic and the rent didn't cover all the costs. She was bemoaning the fact that she was £50 a month light and couldn't afford it. Idiot. Needless to say, it's a good thing that landlords like that are driven out. However, BTL landlords do house people. A lot of people rent because nobody will lend them money. Reasonably enough, if I have a ccj and I've just had my car repossessed, do you want to lend me £100k over 25 years? Only if you're utterly, utterly stupid.
 
stevec67 said:
Reasonably enough, if I have a ccj and I've just had my car repossessed, do you want to lend me £100k over 25 years? Only if you're utterly, utterly stupid.
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Or stopped paying utility bills, not because I can’t pay it, but because someone on the internet said I need to get behind this ‘movement’.
 
stevec67 said:
There were large numbers of overleveraged BTL buyers in 2007-8. I saw one such on a docu, she worked in an estate agents, wasn't wealthy, and decided that a trendy flat in Liverpool's dock area was a surefire money earner. However she hadn't done her arithmetic and the rent didn't cover all the costs. She was bemoaning the fact that she was £50 a month light and couldn't afford it. Idiot. Needless to say, it's a good thing that landlords like that are driven out.
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Oh, it's been 15 years and they'll be back...they'll be back in the media moaning...
 
stevec67 said:
There were large numbers of overleveraged BTL buyers in 2007-8. I saw one such on a docu, she worked in an estate agents, wasn't wealthy, and decided that a trendy flat in Liverpool's dock area was a surefire money earner. However she hadn't done her arithmetic and the rent didn't cover all the costs. She was bemoaning the fact that she was £50 a month light and couldn't afford it. Idiot. Needless to say, it's a good thing that landlords like that are driven out. However, BTL landlords do house people. A lot of people rent because nobody will lend them money. Reasonably enough, if I have a ccj and I've just had my car repossessed, do you want to lend me £100k over 25 years? Only if you're utterly, utterly stupid.
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yes one very sucessful family member financially has so many old debts that it is impossible to get a mortgage .only his wife could get one and the companies did not like it at all
 
Letter from the bank this morning. Reducing an overdraft facility by 40%. Maybe that’s because we don’t use it, it’s been at that level for well over a decade. Sign of things to come me thinks.
 
stevec67 said:
There were large numbers of overleveraged BTL buyers in 2007-8. I saw one such on a docu, she worked in an estate agents, wasn't wealthy, and decided that a trendy flat in Liverpool's dock area was a surefire money earner. However she hadn't done her arithmetic and the rent didn't cover all the costs. She was bemoaning the fact that she was £50 a month light and couldn't afford it. Idiot. Needless to say, it's a good thing that landlords like that are driven out. However, BTL landlords do house people. A lot of people rent because nobody will lend them money. Reasonably enough, if I have a ccj and I've just had my car repossessed, do you want to lend me £100k over 25 years? Only if you're utterly, utterly stupid.
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Lots of people can’t get a mortgage who don’t have a ccj, or any financial problems at all. This sounds like when right wingers refer to the ‘feckless’ and ‘wasters’.

Ponty said:
Or stopped paying utility bills, not because I can’t pay it, but because someone on the internet said I need to get behind this ‘movement’.
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Got any evidence to support this statement?
 
hifinutt said:
yes one very sucessful family member financially has so many old debts that it is impossible to get a mortgage .only his wife could get one and the companies did not like it at all
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I'm confused, is he financially successfull because he didn't pay his debts :)
 
No fortunately , he married an amazing woman who sorted him out !!! Still left him with a totally wrecked credit history though !!
 
hifinutt said:
No fortunately , he married an amazing woman who sorted him out !!! Still left him with a totally wrecked credit history though !!
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Yes, but if he had a history of some economic carnage maybe they should be cautious. I sure as hell would be...

I've still got clients from a decade ago that I have a red mark against and get money up front.
 
andyoz said:
Yes, but if he had a history of some economic carnage maybe they should be cautious. I sure as hell would be...

I've still got clients from a decade ago that I have a red mark against and get money up front.
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How does someone earn a red mark and remain a client?
 
Brian said:
How does someone earn a red mark and remain a client?
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Their card is marked and I just get money up front. Easy.
Because I know that if economy fails again they will run a mile. They rarely change their spots IME. The only difference is they won't be owing me money but some other poor bugger.
 
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You never know, if IR’s get to 7% + as Citi are suggesting, prices could drop quite quickly as there will without doubt be plenty of forced sellers. Only snag is, very few will be able to get mortgages because the economy will be (even more) screwed. I think any property lower than a C rating will now be a hard sell to be honest (very high end excepted). Who’s going to want the potential liability and cost, not just of improving but of running? I’ve owned several period and listed properties. Glad I did but would I want one now, hell no.
 
Snufkin said:
Agreed but it will increase properties for sale which will help the downward push on house prices which is a very good thing in my opinion.
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possibly but prices are rising SO fast and rental stock is already so depleted . been reviwing 2 houses which are class D. 1970`s ex council . I am NOT happy to put in cavity wall insulation due to all the potential pitfalls nor solar heating . done everything else i can

https://www.homebuilding.co.uk/advice/cavity-wall-insulation-problems
 
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