Is Buy-To-Let Bust?

GDB2222

Austin_Allegro wrote: »

In the same houses, bought cheaply once the BTL chancers have been made bankrupt?

Bought cheaply by more sophisticated BTL investors?

FraudBuster

It can be great fun being a landlord.

http://www.singingpig.co.uk/forums/thread/570634.aspx

PasturesNew

FraudBuster wrote: »

It can be great fun being a landlord.

http://www.singingpig.co.uk/forums/thread/570634.aspx

Say it how it is mate:

"I actually find single mothers amongst the worst tenants as they invariably have a boy friend and they wreck the property, buy goods on credit, get a cat and dog that sh*ts and p*sses every where and then they do a runner.I hate to say it but I'm starting to see these people as a type of vermin that you are not allowed to shoot, but it's very tempting."

mumps

ad9898 wrote: »

I know it's hypothetical but if BTL was removed from the market, prices would tank maybe 70-80%, allowing almost anyone with a job to buy. I'm sure we would get the old supply and demand argument again, however my feeling is there never was any supply issues, only affordable supply.

I read somewhere that the housing stock in the UK stood at around 21 million, plenty when you consider a population of 60 million.

But not everyone wants to buy. I am letting a house, not a buy to let but a house we inherited and decided to keep for when kids are older, our tenant is a fairly new graduate and she wants somewhere to rent for a couple of years. We renovated the house, asked a reasonable rent, put it with agent and first two people who viewed wanted to rent it. Not all tenants want to buy (at least in the short term) and not all landlords are out to make a quick buck. I suppose we are lucky in that we have only a small mortgate (took it out to renovate property) so can charge reasonable rent.

HammersFan

In answer to OP. BTL doing just fine (outside of the city centre new-build and fake deposit arena). Not good news for FTB's but wishing it werent so won't help. Many established landlords are seeing yields rise as interest rates on trackers drop, and looking to buy in the not too distant future.

brit1234

HammersFan wrote: »

In answer to OP. BTL doing just fine (outside of the city centre new-build and fake deposit arena). Not good news for FTB's but wishing it werent so won't help. Many established landlords are seeing yields rise as interest rates on trackers drop, and looking to buy in the not too distant future.

Buy to let is just doing fine, its keeping auction rooms very busy with all the increasing numbers.

Remember when a home owner gets repossessed they loose their home, when a landlord does they loose their portfolio (multiple properties). As more properties get repossessed it puts further downward preasure on properties. In turn landlords fast loose their equity and get forced on to the SVR mortgage rate increasing costs leading to further reposessions.

This and especially next year is going to be very messy. In this market they can't sell their way out.

HammersFan

Brit1234 - just because you wish it to be so doesn't mean it will be. Aside from city centre new builds, do you have any evidence of this? Why would it get messy with so many people around ready to rent and variable mortgages dropping fast, and many cash-handy BTL investors? Admitteldy bad news for FTB'ers waiting for a fire sale. Still you maybe able to grab a cheap city centre thing (you know of the type you constantly say is useless).

pickles110564

fatpig wrote: »

Most BTL landlords are like Rigsby from Rising Damp, only a bit more tight-fisted and miserable than him

I take that as a compliment.;)

RomansProperties

Some Properties are doing well at Auction
This just sold at our local Auction
Details for Lot No. 057

Status: Sold
Guide Price: £140000+
Sold Price: £152000
Category: Investment Opportunity
Full Address: 30 Armley Ridge Road
Leeds
United Kingdom
LS12 3NP



Category Heading:

Residential Investment comprising 3 no. 1 bed flats and 1 studio. Current gross annualised income £16,640.

Thats a 10.8% return
City Centre flats however did not do so well

baby_boomer

Buy to let is not bust, although the market and its participants will undoubtedly undergo change.

Buy-to-let is still the main plank of the government's plan to provide rented accommodation. It's just that they never tell us this . No-one actually thinks they've got any money left to build social housing, do they :rotfl:

It will come back strongly as the market bottoms out and baby_boomers seek retirement income - but perhaps there won't be so many new property empires which "belong" to overborrowed speculators.