Boomed!!!

[King Cnvt]

I have made so much money out of BTL it is criminal.

Well the well practiced tax dodge of going non-resident for 6 months, disposing of all my UK property FREE OF CGT and then coming back should be!

[sasguru]

I have made so much money out of BTL it is criminal.

Well the well practiced tax dodge of going non-resident for 6 months, disposing of all my UK property FREE OF CGT and then coming back should be!

I should have done that! Meanwhile poor old Baggy is happy with his £200K nominal rise in his single property.

[Bagpuss]

So I should have sold up ages ago then and missed out on more double digit capital growth then Bag Puss?

The crash was forecast years ago and those doom mongerers would have cost me £10K's in pure loverly profit for doing sod all.

There ain't no crash mate. Not this year, not next or the year after that.

Double digit lovely FREE money.

I wasn't one of the people predicting a crash. What I am saying is we are now at tipping point. As the article states estate agents are getting less interest, ditto new builds. The buyers in June would have secured lower rates, I mean how long does it take?... weeks and usually months to buy a house, the loans would have been secured at much lower rates.

We have had a sustained period of irresponsible borrowing, presuming rates will be stationary. When rates hit 5.75, the lowest fixed mortgage will be over 6%, the fees will be over a grand, the SVR will be approaching 8%. You don't have to be a genius to see it's going to hurt those without large equity, and as we are often being told that's many people resulting in over supply to the market. It's starting to happen now. Just wait for figures over the next couple of months, my guess is they won't be good.

If you want to argue on facts and figures then fine, If you want to edit the bad points out of articles and start pointless name calling threads then you might as well post on CCnet with SASguru

[sasguru]

I wasn't one of the people predicting a crash. What I am saying is we are now at tipping point. As the article states estate agents are getting less interest, ditto new builds. The buyers in June would have secured lower rates, I mean how long does it takes weeks and usually months to buy a house, the loans would have been secured at much lower rates.

We have had a sustained period of irresponsible borrowing, presuming rates will be stationary. When rates hit 5.75, the lowest fixed mortgage will be over 6%, the fees will be over a grand, the SVR will be approaching 8%. You don't have to be a genius to see it's going to hurt those without large equity, and as we are often being told that's many people resulting in over supply to the market. It's starting to happen now. Just wait for figures over the next couple of months, my guess is they won't be good.

If you want to argue on facts and figures then fine, If you want to edit the bad points out of articles and start pointless name calling threads then you might as well post on CCnet with SASguru

You still don't get it, do you?

[Bagpuss]

You still don't get it, do you?

Make an argument then! Instead of the usual smug inuendo.

[sasguru]

Make an argument then! Instead of the usual smug inuendo.

Got you well and truly by the curlies. Are you an irony-free zone? or just thick? Actually usually the 2 go together.

Just so you know, I couldn't give a tulip how the property market goes. A crash (the bigger, the better) will be welcome - I reckon the next cycle would make me a millionaire

[DimPrawn]

Here's a point.

Rising interest rates won't quell Buy-to-Let or stop house prices rising.

Why?

Because there is a captive market. Rental yields will fall in the short term as mortgage costs rise, but then rents will rise to follow, balancing the yields.

Only three things are going to kill the house market.

Mass unemployment.
Stop to immigration or mass exodus of people from the UK.
Huge number of new houses built.

None of these are likely in the next 5 years.

HTH

[Bagpuss]

Got you well and truly by the curlies. Are you an irony-free zone? or just thick? Actually usually the 2 go together.

Just so you know, I couldn't give a tulip how the property market goes. A crash (the bigger, the better) will be welcome - I reckon the next cycle would make me a millionaire

I'm not bothered how much money you have, it can't buy you a likeable personailty.

BTW Lesson 1: Irony doesn't work on the internet.

[sasguru]

I'm not bothered how much money you have, it can't buy you a likeable personailty.

BTW Lesson 1: Irony doesn't work on the internet.

Oh yes I'd forgotten you were renowned on here for your wit, charm and elegance.
And irony not working on the net? oh it does, for the more intelligent.
What a dull bore you are!

[Bagpuss]

Here's a point.

Rising interest rates won't quell Buy-to-Let or stop house prices rising.

Why?

Because there is a captive market. Rental yields will fall in the short term as mortgage costs rise, but then rents will rise to follow, balancing the yields.

Only three things are going to kill the house market.

Mass unemployment.
Stop to immigration or mass exodus of people from the UK.
Huge number of new houses built.

None of these are likely in the next 5 years.

HTH

Good points but:

1/ What about the tens of thousands who fixed at 4.5% or less, who know are looking at 6%. Do you think they all have the means to take the hit? Do they have enough disposable income to take 40% rises in mortgage costs.

2/ The banks are becoming more risk adverse

3/ There is so much supply of BTL how can rents rise in the short term?
Most financial experts are warning against BTL as an investment, until the market cools.