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Debate House Prices
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More good news for BTLs!
Comments
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Let's say that there are 100 BTL properties and 100 people wanting to rent.
Then, let's say that 40 more property owners cannot sell and decide to rent their properties out. Do these people buy a 2nd home or rent?
If they buy a 2nd property, technically they become BTL LLs. Mulitiple property owners with the same risks and rewards as the traditional BTL LL. The additional rental property adds to the rental pool but the pressure on owner-occupier homes increases.
If they choose to rent, then we have 140 rental properties and 40 more people looking to rent.
The net impact is minimal.
People who bought at the peak and who didn't protect themselves against interest rate rises are stuffed whether they are BTL LLs or OOs. I suggest the OO is the most stuffed as they may have a house that they may have grown out of. A LL can let to somebody else when their tenant grows out of the house.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Gorgeous_George wrote: »Then, let's say that 40 more property owners cannot sell and decide to rent their properties out. Do these people buy a 2nd home or rent?
It's a bit like the missing sock mystery. Where do they go
:D RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
!!!!!! - plenty do not inform their lender when they let0
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