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landlord bashing

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Comments

  • AdrianC
    AdrianC Posts: 42,189 Forumite
    First Anniversary Name Dropper First Post
    LdnFtB wrote: »
    No it's not and I apologise for getting the data wrong. If I rephrased to say that ~60% of private sector 1 bed units and ~ 30% of private sector 2 bed units are owned by landlords could we agree on those figures?
    40%, even, on the second figure.

    Now, the question arising from that is whether that's somehow a bad thing or not...
  • LdnFtB
    LdnFtB Posts: 100 Forumite
    AdrianC wrote: »
    Now, the question arising from that is whether that's somehow a bad thing or not...

    I think I've made my position clear :rotfl:
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    First Anniversary Name Dropper First Post
    LdnFtB wrote: »
    I think I've made my position clear :rotfl:
    Yes, you have. But that position was based on incorrect figures, and is still ignoring the many other issues - not least how many people actually want to be in a single-bed property for a long-enough term to be worth owning.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    First Anniversary First Post Name Dropper
    All you need to know is that the government now thinks it`s bad (because voters have told them so) and are taxing accordingly to change behaviour. It wouldn`t surprise me if after the last round of voting BTL gets hit even harder.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    LdnFtB wrote: »
    No it's not and I apologise for getting the data wrong. If I rephrased to say that ~60% of private sector 1 bed units and ~ 30% of private sector 2 bed units are owned by landlords could we agree on those figures?



    It's an illustration that it's understood by the very people who are commissioned to sell these properties that FtB's and landlords are in competition for the same stock.

    As to your question of choice, all of my FtB friends, colleagues and relatives have started off in 1 bed flats.



    I'll correct you - everyone is in competition for the same stock.


    The reason 1 beds are owned by private landlords more often than 5 beds are - is because the market dictates that.


    Whether it's a landlord who redevelops a larger property into smaller flats. Or buys cash for properties above commercial premises. Or because most FTBs don't want to buy a studio flat.


    As for your friends etc etc. - I fail to see the relevance at all. That's dictated by your locality, its not a national picture.


    Where I live there's hardly any 1 bed flats - because no-one wants the things. Often (as I said before) the ones that come up for rent are developed from larger properties.
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    Crashy_Time wrote: »
    http://news.sky.com/story/applications-from-eu-nurses-to-work-in-uk-down-96-since-brexit-vote-10913295


    The supply of people up for paying 750 p.m for a dodgy flat is dwindling, just wait til they cut benefits for EU nationals......

    It was a very nice flat thank you very much!
  • Red-Squirrel_2
    Red-Squirrel_2 Posts: 4,341 Forumite
    Guest101 wrote: »

    3. I don't want a fair system. I want a competitive one, where people who actually work hard and succeed are rewarded. I disagree wholeheartedly with rewarding failure.

    Good luck with that!

    Some of the hardest working people I know get the least financial reward for their efforts.
  • LadyL2013
    LadyL2013 Posts: 191 Forumite
    First Anniversary Combo Breaker First Post
    AdrianC wrote: »
    Like I said - best rate for a 90% mortgage is 2.49%. If you're looking at a lower LtV, you may get a better rate. If you're looking at just an intro discount, then you may get a better rate, but that WILL end before you've blinked, so is very unwise to budget on... That was based on 25yrs - a longer term may give you a slightly lower payment, but a much higher total cost.

    What rates/products/term are you looking at?

    At £150k with a £120k mortgage, you'd be looking at 80% LTV - assuming you have other money for fees etc. That gets you 1.75% from Coventry BS, from the mortgage best buy page here.

    Good luck!
    Looking at Halifax 2-year fixed.




    And yes, I've kept other money aside for fees. I am well within my affordability budget, should the payments go up a couple of hundred.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    Red-Squirrel wrote: »
    Good luck with that!

    Some of the hardest working people I know get the least financial reward for their efforts.

    And why do you think that is?
  • LadyL2013
    LadyL2013 Posts: 191 Forumite
    First Anniversary Combo Breaker First Post
    Guest101 wrote: »
    ok...


    1: some people don't want to live in your little rabbit hutch starter homes. So I think you've already made a presumption that FTB will only buy those / people will choose to rent those.


    2: Life isn't fair, whoever told you otherwise was lying to you.


    3. I don't want a fair system. I want a competitive one, where people who actually work hard and succeed are rewarded. I disagree wholeheartedly with rewarding failure.


    OK, firstly. less of the attitude.


    Secondly, for many those rabbit hutches are the only affordable property. Of course others can afford to live in larger properties, but for many, even those earning a decent wage, starter homes are the only affordable thing.


    I know life isn't fair, but that doesn't mean we should seek to make it fair. You can have fair competition, in fact it's healthy. I believe strongly in a healthy economy, I just dislike the parasitic aspect of it, when it's not necessary.
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