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Why do people think landlords are greedy
Comments
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Ian_Griffiths_Halifax wrote: »Could sombody explain what MEWing is? I've seen it a few times on here, but nobody has every explained.0
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Cheers. I've been racking my brain trying to decipher what it could be. I prefer Capital Raising. It's much simpler.I am a Mortgage Consultant and don't like to be told what I can and can't put in a signature so long as it's legal and truthful.0
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Got a huge deposit but still saving at least one more year. Prices are still well overvalued and have a long way to fall. 50% falls from peak are increasingly being spoken of by independant experts and non vested interest bodies. 60% is now being talked about due to an over correction.
Thats going to be hard for landlords who purchased in the last 5 years and those highly geared. Especially when it comes to margin calls writen into their mortgages or when the time comes to remortgage.
Buy to Let is looking extremely weak and vulnerable at the moment.
Prices in the area that I want to invest further in have fallen approx 14-15% if they fall another 15% my wife and I are going to buy 3 or 4 houses, (if it only drops by 10% we will probably buy 2). Be careful you are in danger of missing the boat, if you wait for a 60% drop, it just won't happen, not on quality properties anyway, perhaps on new build hyped price flats which I was never interested in and never believed what they were percieved to be worth by some.
By the way have BMidshires really withdrawn from the BTL market (as you stated previously), their website is still showing BTL mortgages on offer?0 -
Be careful you are in danger of missing the boat, if you wait for a 60% drop, it just won't happen
Never say never, they rose 300 odd percent in the last 10 years so why not? Also the unfolding of the last few weeks - especially last night - means lending will be virtually non-existent for some time to come. Many people thought a few months ago things could only get better and well, to say it got alot worse is an understatement.0 -
Never say never, they rose 300 odd percent in the last 10 years so why not? Also the unfolding of the last few weeks - especially last night - means lending will be virtually non-existent for some time to come. Many people thought a few months ago things could only get better and well, to say it got alot worse is an understatement.
Well you have to do what you think is best I have already said what I am going to do, and that is buy between 25% - 30% from the top of the market. But that is from established prices of victorian houses rather than the so called luxury new build flats which I was never attracted to and did not believe in their price.
A few months lol, well that's just plain silly. IMO there will be about 2-3 years of falling prices folowed by another 2-3 years of stagnation, I don't really see any increases for about 5 years.0 -
Ian_Griffiths_Halifax wrote: »Cheers. I've been racking my brain trying to decipher what it could be. I prefer Capital Raising. It's much simpler.
The correct term is Mortgage Equity Release (which I'm sure you already knew), but clearly mering doesn't have the same pathetic ring to it as mewing, which is why the HPC brigade prefer to use it.0 -
The correct term is Mortgage Equity Release (which I'm sure you already knew), but clearly mering doesn't have the same pathetic ring to it as mewing, which is why the HPC brigade prefer to use it.
Erm, sorry that may be the 'correct term' to you, but it certainly isn't to me and most brokers.
Equity Release Mortgages are a type of mortgage for older people wanting to release equity to be able to provide a lump sum or regular income.
Could you point me to any reference materials quoting the 'correct term'?I am a Mortgage Consultant and don't like to be told what I can and can't put in a signature so long as it's legal and truthful.0 -
I stand corrected.0
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