The great property crash of the 2040s

[mudskipper]

Mmm. Bacon.

I have been making a lot of cheese and ham toasties lately but I think I might make some bacon and egg sarnies tomorrow.

You want some baps.

[doodab]

You want some baps.

Or muffins. Or crusty bloomers.

[RetSet]

"Buy to Let" means buying a property in order to let it. How it's financed is irrelevant.

Nope.

It was just 'landlords' until the BTL product was launched.

The loans in those days were on commercial terms at lower LTVs. No landlords, not even those who used finance to buy, were referred to as BTL landlords.

FFS, this is only recent history.

[Sysman]

Why? Their mortgages should be paid off by the time they retire and pop their clogs.

But the rising cost of fuel, food, maintenance of the house etc. may exceed their income.

Going by my parents' experience, within 5 or so years of paying off the mortgage the rates plus water rates had jumped to 3-4 times what their mortgage repayments had ever been.