Reply to: The great property crash of the 2040s

[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.

[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.

[doodab]

You want some baps.

Or muffins. Or crusty bloomers.

[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]

I thought it was a sandwich.

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.

[mudskipper]

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

I thought it was a sandwich.

[doodab]

Right. I'm going to get arsey now...

The term BTL refers specifically to mortgage products for landlords.

There are numerous other ways that landlords can acquire/ take control of property for their portfolios -

Cash
Lease Options
Instalment Contracts/ Exchange, Delayed Completion
Rent to Rent
Various forms of joint venture
Etc.
Etc.

So why does BTL get singled out?

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

[RetSet]

It seems... Blah... Bblah... BTL portfolios ... blah blah..

Right. I'm going to get arsey now...

The term BTL refers specifically to mortgage products for landlords.

There are numerous other ways that landlords can acquire/ take control of property for their portfolios -

Cash
Lease Options
Instalment Contracts/ Exchange, Delayed Completion
Rent to Rent
Various forms of joint venture
Etc.
Etc.

So why does BTL get singled out?

[sasguru]

Perhaps I'm a little person.

In terms of intelligence, certainly.

[scooterscot]

You told us how much tax you paid, remember?
From which we worked out your small turnover

Perhaps I'm a little person.

[sasguru]

Only little people pay tax.

You told us how much tax you paid, remember?
From which we worked out your small turnover

[doodab]

Only little people pay tax.

Oompah loompahs?

[scooterscot]

Only little people pay tax.

[BrilloPad]

Only if the population were to fall, which doesn't seem to be the case.

I read an article 15 years ago that said by 2016 more people would be taking money out of savings that would be saving. But, as you say, that took not account of the amount of population growth.

I wonder what the equivalent target year is now?

[DimPrawn]

Everyone I speak to is buying property by the bucket load, it's like 2000 - 2007 on steroids out there.

Fill yet boots!