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FAO BTL owners Jenrick has just sold you down the river

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    #31
    Originally posted by TheGreenBastard View Post
    I make a nice profit whilst increasing equity, the system is working for me. The houses are kept in good repair, as far as I am concerned (free market kinda guy) I'm providing a service, there's a mortgage attached to the houses so I do bare a risk and I provided the capitol. Covid highlights the risk balance quite nicely.

    Those wanting total collapse / rewrite of the system, I'd be interested to know how the fallout would be handled. I believe circa 60% of private homes are occupied by the owner(s), that's a lot of people - it wouldn't only affect Jacob Rees Mogg.
    So I am guessing if it works for you, than it is fine for everyone. Cool that's fine. Have you looked at therest?

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      #32
      Originally posted by GigiBronz View Post
      So I am guessing if it works for you, than it is fine for everyone. Cool that's fine. Have you looked at therest?
      Sure I have. More houses need to be built.

      You're asking for extremes, there's no conversion to be had so I'll carry on voting for what's working for me (vs. shared misery for all).

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        #33
        The whole thing is a disaster.

        I am involved, albeit it on the periphery, of commercial property finance. I hear of portfolio mortgages going through that are utterly ridiculous in scale. I just dont see who benefits other that the lender, broker and landlord. When there are hundreds, or thousands, of people who's lives are totally reliant on the properties on one deal, it's just totally imbalanced. Now the system has been turned over it's all going to be very bad.

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          #34
          So glad I sold up and collected my chips.

          "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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            #35
            BTL has distorted the market, the DSS crowd even worse. Nobody loves you guys and they are going to throw you under the same bus as the contractors. Red Tory government; what did you expect?

            I know, nobody sane to vote for either.

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              #36
              Originally posted by GigiBronz View Post
              I am sorry but that is pure nonsense. You get debt and rental areals, you get bad credit score. YOU ARE OUT OF THE SYSTEM.
              Landlords get mortgage holidays for as long as they can, than negative interest rates. Than grants for the gov if you are in the business sector.

              If private rental is a choice than be my guest in finding accommodation without being able to prove income.
              Good luck for tenants finding DDS accommodation.
              Good luck for anyone in difficulty finding any king fo support through universal credit. It is not designed for that.

              you are a sockie as well I guess, same MI5?
              Maybe if you learned how to spell and use correct grammar then you wouldn't be in such a bad situation.

              BTW Landlords cannot get mortgage "holidays" for as long as they desire. They are limited to 3 months. Mortgage holidays are deferrals that need to be paid eventually and attract additional interest on the delayed payment, whereas tenants are simply being told not to pay rent back - ever.

              And negative interest rates - what planet are you on? If negative rates ever became a reality then we would all be screwed, beyond your level of comprehension.

              There are no grants for Landlords. Those that took a bounce-back loan are now being viewed with disdain by lenders; further lending or new mortgages are being rejected because a BBL is a badge of dishonour due to the very implication that you took it because your 'business' was in trouble.

              If the government insist that tenants don't pay rent and don't evicted then the government should foot the bill. Simple as that. Else the whole house of cards will collapse and will take the UK economy with it. No one will escape unscathed. And if you're waiting for house prices to collapse so that you can buy on the cheap - well good luck trying trying to get a mortgage when you have no job and when lenders are reeling in the loans.

              Your lack of knowledge is shockingly conspicuous. Small minded, much?
              Last edited by ChimpMaster; 22 August 2020, 20:39.

              Comment


                #37
                Originally posted by courtg9000 View Post
                Another show of just how much the govt hates landlords.
                I wish they hated me. 22 billion a year in handouts plus all the tax advantages! And they don't even have to pretend to be disabled or work.

                Maybe I should start renting out my spare house!

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                  #38
                  Originally posted by ChimpMaster View Post
                  Maybe if you learned how to spell and use correct grammar then you wouldn't be in such a bad situation.

                  BTW Landlords cannot get mortgage "holidays" for as long as they desire. They are limited to 3 months. Mortgage holidays are deferrals that need to be paid eventually and attract additional interest on the delayed payment, whereas tenants are simply being told not to pay rent back - ever.

                  And negative interest rates - what planet are you on? If negative rates ever became a reality then we would all be screwed, beyond your level of comprehension.

                  There are no grants for Landlords. Those that took a bounce-back loan are now being viewed with disdain by lenders; further lending or new mortgages are being rejected because a BBL is a badge of dishonour due to the very implication that you took it because your 'business' was in trouble.

                  If the government insist that tenants don't pay rent and don't evicted then the government should foot the bill. Simple as that. Else the whole house of cards will collapse and will take the UK economy with it. No one will escape unscathed. And if you're waiting for house prices to collapse so that you can buy on the cheap - well good luck trying trying to get a mortgage when you have no job and when lenders are reeling in the loans.

                  Your lack of knowledge is shockingly conspicuous. Small minded, much?
                  Maybe if you learned how to use correct grammar, then you wouldn't be in such a bad situation.

                  Comment


                    #39
                    Originally posted by TheGreenBastard View Post
                    In steps good intentions/human rights laws/treating welfare recipients like humans, and what happens?
                    Definitely not human rights though. Things can be made exempt from those laws.

                    Comment


                      #40
                      This is quite interesting

                      https://www.bi.team/wp-content/uploa...nal-report.pdf

                      they divide arrears into 3 groups.

                      Struggling customers who are genuinely trying to meet their financial commitments butexperience challenges with insufficient income relative to outgoings, or low levels of financialcapability.

                      Strategic customers who make a decision not to prioritise paying their rent, or have their‘head in the sand’ so decide not to engage with MH in the arrears process.

                      Disorganised customers who fail to pay rent as they are simply disorganized or forgetful, notbecause they have made a strategic decision or are financially struggling.
                      Interestingly they say arrears at :

                      Rent arrears are a considerable challenge for MH, with around 15-20% of MH customers in arrears atany one time.
                      Do you think businesses should run at 20% payment defaults?

                      They are hardly slum landlords.
                      Always forgive your enemies; nothing annoys them so much.

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