Interest rates to rise price of flats falling

[chubba]

Yup, not surprised your solicitor told you not to bother, my Dad said the same to my brother about seven years ago as he thought the growth would not continue. The old man has passed away since but am sure he would be happy to admit to being wrong on that one!

Lots of people say market will level out, most of the ones I have heard say it have been estate agents.

I have a thought though that there is another possibility... We have seen the rate rise today and I expect there to be more to really get borrowing etc under control. This will mean more people who borrowed heavily going under. If I was a buy to letter I would be looking to sell now at peak of the market and then re-invest in a year or two. If there are BTLers who think like me then it could see a glut of properties come on the market (the BTLs and the repossessions).

We saw a month or so ago a glut of houses come on the market to try and beat the HIPs and this had a really dramatic effect on the market. From there being few houses on the market in this area and buyers fighting over what was there the situation reversed to buyers having a lot to choose from and this is when lower than asking price offers really kicked in and the housing market slowed to almost standing.

The end is nigh!

[Hart-floot]

I am simply raising my rents anyway.

Get prepared for the voids then

[ASB]

I have a thought though that there is another possibility... We have seen the rate rise today and I expect there to be more to really get borrowing etc under control. This will mean more people who borrowed heavily going under. If I was a buy to letter I would be looking to sell now at peak of the market and then re-invest in a year or two.

Or possibly.......

There are, say 20,000 additional repossessions. This produces additional rental demand, at least to those who will take HB or are SRL's.

[Causus Deli]

Envy is sooo ugly. If I worried every time someone says it's bust time I'd be on my nineteenth nervous breakdown.

[sasguru]

I'm on hold and will reinvest when things take off which given the population growth must.

You mean you're making money from immigration?

[Causus Deli]

You mean you're making money from immigration?

Yes, many of my tenants are immigrants. I don't agree with the situation but why not exploit it for my benefit. Amazing isn't it a labour policy benefitting parasites like me. It does have it's drawbacks, I do get called by the immigration department regularly and get some skipping the country leaving a mess behind them. Others subletting to illegals etc and the fraud squad being interested in people I didn't even know were staying at one of my addresses. What a shambles we have created in our great land.

[sasguru]

Yes, many of my tenants are immigrants. I don't agree with the situation but why not exploit it for my benefit. Amazing isn't it a labour policy benefitting parasites like me. It does have it's drawbacks, I do get called by the immigration department regularly and get some skipping the country leaving a mess behind them. Others subletting to illegals etc and the fraud squad being interested in people I didn't even know were staying at one of my addresses. What a shambles we have created in our great land.

Why don't you rent out to bona-fide people?

[Ivor1]

Why don't you rent out to bona-fide people?

A lot of the local councils or at least my one will guarantee to rent the place off you for 5 years, tenants tend to be immigrants.

IMO they should stop the tax relief on the rent the landlord gets and use towards the mortgage, this should free up some more housing.

[Causus Deli]

Why don't you rent out to bona-fide people?

I go through agents and it's difficult to pick and choose, I haven't lost out financially. I notice Poles tend to leave the places disgustingly dirty but a few hours hard work never hurt anyone and it's just not worth trying to get it paid for out of deposits these days.

I had a Polish couple who came in the country about 3 years ago (small 1-bed flat), they had two sprogs back to back and now have a nice shiney council 3-bed house. As usual didn't pay the last months rent and had the affront to ask for the months deposit, having given no notice at all. We expect this and are geared not to lose money.

[Ardesco]

Today, 15:28 Remove user from ignore list
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