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More good news for BTLs!
WTF?_2
Posts: 4,592 Forumite
http://www.dailymail.co.uk/money/article-1051952/Rise-reluctant-landlords-buyers-number-rental-properties-increase-13.html
Homeowners who are forced to move but are unable to find a buyer for their property are reluctantly becoming landlords.
This has led to a sharp upswing in the number of properties to rent, according to the Royal Institution of Chartered Surveyors (RICS).
Its latest survey shows the number of new rental properties available has leapt by 13pc — the fastest increase in the past decade — which means rents will not continue to rise.
Some of this capacity will probably fall off as the crash continues into the recession and these people are either forced to sell or are repoed, but certainly it's good news for renters into the short term future.
(some good advice for would be landlords in the article too)
Homeowners who are forced to move but are unable to find a buyer for their property are reluctantly becoming landlords.
This has led to a sharp upswing in the number of properties to rent, according to the Royal Institution of Chartered Surveyors (RICS).
Its latest survey shows the number of new rental properties available has leapt by 13pc — the fastest increase in the past decade — which means rents will not continue to rise.
Some of this capacity will probably fall off as the crash continues into the recession and these people are either forced to sell or are repoed, but certainly it's good news for renters into the short term future.
(some good advice for would be landlords in the article too)
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
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Comments
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The title of your post - is it a typo, as surely you either mean "More bad news for BTLs" or "More good news for renters"? Or is it an attempt at humour by saying the opposite of what actually is the case, as if so, it might not go down very well with BTL landlords visiting this forum.
Cheers
WWIt's always the grass that suffers, irrespective of whether the elephants are fighting or making love !!!0 -
Walletwatch wrote: »The title of your post - is it a typo, as surely you either mean "More bad news for BTLs" or "More good news for renters"? Or is it an attempt at humour by saying the opposite of what actually is the case, as if so, it might not go down very well with BTL landlords visiting this forum.
Cheers
WW
I guess I'm just a sarcastic git :cool:--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Wallet watch isnt quite used to our sence of Humor yet !!!!!!
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Wallet watch isnt quite used to used to used to our sence of Humor yet !!!!!!
wallet watch will also have to get used to used to used to the shadenfreund nature of many of the Housing board contributors.Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
Dithering_Dad wrote: »wallet watch will also have to get used to used to used to the shadenfreund nature of many of the Housing board contributors.
That's Schadenfreude. --
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
That's Schadenfreude.
You should know !!!!!!?, you should know! :rotfl::rotfl: :rotfl:Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
If someone lets their ex-home because they have moved and cannot sell it, technically that's not a BTL is it?Hoping this year is better than the last.0
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FTL - forced to let?
HTL - had to let?
DRWTLBBOOSPMWHTFL - Didnt Really Want To Let But Because Of Our Stupid Prime Minister We Had To Effing Let ?0 -
Ha Ha, I like the last one!Hoping this year is better than the last.0
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Letting isn't going to be a solution unless you have a lot of equity in your house.
Otherwise you may find it difficult to get your lender to agree to allow you to let you rent your house instead of living in it. Also, letting income should cover the mortgage payment (after taxes and deductions are taken into account)
Even if you have the equity to make the let a viable option , you usually require that equity gained and turned into cash upon sale from your old place to make your next step on the ladder affordable.
That means you end up with a thumping mortgage to pay on the new place .... I'd say most people aren't going to be able to meet that commitment over the longer term and if they are counting on the current drop in prices being a blip they are seriously in trouble.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0
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