Btl - R.i.p

[Turion]

Its allright for me. I never much liked bacon, lettuce, and tomato in my sandwiches in any case.

No that's a BLT, not BTL. Both are a rip off, though if you need a mortgage to buy a BLT, your rate is too low

[Diver]

More cheap repo'd properties for me to buy

I can afford two more for cash, as long as they are below the £180,000 mark, so c'mon bailifs and el Gordo. do yer stuff, I've tenants waiting

Wonder if the bank will still give me the 500k loan at 5.69% they offered me last month, I could buy a couple more properties then, while they are still cheap.
It's great to have collateral when all about you are losing theirs.
I know!!! - I'm building an empire on the backs of those less fortunate.

Who said BTL is Doomed

[Turion]

I've tenants waiting

Yeah right. Social housing for dss chavs who no other landlord will touch. Why would a tenant wait for you? They just find another place. There's tons to rent cheaply now from desperate landlords. All the decent tenants will be buying failed btl properties at knock down prices.

[Jog On]

This is great - I just did a google search for "buy to let+credit crunch" (no quotes) and these are some of the titles:

Buy-to-let booms as credit crunch hits first-time buyers ...

Link

Buy to let industry slaughtered by credit crunch

Link

Buy-to-let sector booms amid credit crunch – aboutproperty.co.uk

Link

Buy to let sector unshaken by credit crunch

Link

That's conclusive isn't it

[KentPhilip]

No that's a BLT, not BTL. Both are a rip off, though if you need a mortgage to buy a BLT, your rate is too low

Old macdonald was dyslexic O-I-E-I-E

[neilawuk]

rubbish

I always chuckle at these so called experts telling us whats going on...

I am a BTL investor of 4 years with 8 BTL's...Its a pretty good time to be a BTL investor to be honest unless you need to liquidate your assets....Rental demand is increasing and rents are on the increase due to an upturn in demand for rental property with people not buying due to the uncertain market conditions. So for me as a BTL investors Im seeing more income, I have also just bought a bargain property 20% discount and got my 85% LTV mortgage through Birmingham midshires....so great time to grab a bargain and with a high rental demand and rents on the increase....A bad time for me???

NOT LIKELY!!!!

[ferret]

Your 20% discount now will be in -ve equity in a couple of years if the trend continues and could take a decade to reach the level you have just paid. Not the best move I think - but then I am not an expert like you

Also, lots of people cannot sell and will try and rent them out to get some income. Rental demand may be rising but so are the number of rental properties on the market from what I can see. As house prices fall, potentially so will rental prices. When house prices reach the bottom lots will jump in to buy and deflate the rental market again leaving you with negative equity and no one to rent.

Good luck.

[BrilloPad]

Rental demand may be rising but so are the number of rental properties on the market from what I can see.

Where are these properties coming from? It is still very very hard to get PP to build anywhere?

I can see there being a difference between flats and houses - what is being built tends to be flats. very few new house builds except, maybe, at the luxury end.

[Moscow Mule]

More cheap repo'd properties for me to buy

I think not so much. You won't find repo'd bargains from previous downturns - banks are looking to get market value on repo'd properties and they have strict rules on what price they will accept.

You may find some bargains, but only as the market has goes down as a whole.

[rootsnall]

Non mortgage BTL has always existed, but had been very small.

And worked on yields of 10%+ on the sort of property now yielding 5%. Either prices have got to halve or rents double. I think we are in for a very long period of falling or stagnant property prices.