Buy to Let landlords face extra Margin Call payments

Heyman_2

ad44downey wrote: »

We should tax the Buy to Let vultures out of existence once and for all.

...which would lead to mass evictions of tenants and a dearth of property on the rental market, not to mention financial ruin for the 1 million BTL'ers in this country (shafting an already shafted economy) who would sell up at a loss or get repossessed, and a housing market overflowing with houses that no-one would be buying.

I don't have any sentimentality here, just what I think would happen if your soundbite was implemented.

Why do you think this would be a good idea?

real1314

ad44downey wrote: »

Pimps and drug dealers make profits too. That doesn't mean they're doing right though

So (legally, unlike the silly examples you came up with) do: arms manufacturers, fag companies, lap dancing joints, dodgy double glazing firms, dodgy stairlift/orthopaedic bed makers, rogue traders, and gasp - food retailers! They make profits on the most basic of necessities, which no-one can live without.
And don't get me started on energy companies and petrol companies.

And what about those pension funds that invest in other businesses that make profit from our everyday needs? The swines.

Let's nationalise everything to stop people profiting from us all!

PasturesNew

real1314 wrote: »

So (legally, unlike the silly examples you came up with) do: arms manufacturers, fag companies, lap dancing joints, dodgy double glazing firms, dodgy stairlift/orthopaedic bed makers, rogue traders, and gasp - food retailers! They make profits on the most basic of necessities, which no-one can live without.
And don't get me started on energy companies and petrol companies.

And what about those pension funds that invest in other businesses that make profit from our everyday needs? The swines.

Let's nationalise everything to stop people profiting from us all!

oddball!!

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MissMoneypenny

silvercar wrote: »

Poor tenants, who get evicted through no fault of their own.

:eek:
You are one of the people who has continually advised people on here to not tell their lenders they are renting their properties! What about the "poor tenants" then, who will have little or no notice of eviction if their LL is repossessed?

real1314

PasturesNew wrote: »

oddball!!

---

I was referring to food retailers regarding the most basic of needs. I'm not sure arms manufactures deal in life sustaining essentials either - quite the opposite?

tradetime

I'm not sure arms manufactures deal in life sustaining essentials either - quite the opposite?

Dunno, if someone wants to stab you to death possession af a gun, assuming you know how to use it could be seen as life sustaining, your at least. It's all a matter of perspective, man has never needed "arms" to kill his fellow man, they just made it more efficient, less labour intensive.

Max_Headroom_3

Some absolutely classic bollox talked in this thread!! :rotfl:

BTL landlords should be banished (err, who do you suppose is letting property to all the people on here who chose and advise renting instead of buying!?)

People shouldn't be allowed to make a profit (huh!?)

BTL landlords basically the same as pimps and drug dealers (really!?)

And guns being "life sustaining just like food is" provided you happen to be about to be stabbed to death.

Absolute corkers, well done the lot of you! :rotfl:

lic

ad44downey wrote: »

We should tax the Buy to Let vultures out of existence once and for all.

Well Ad44, what a very interesting comment!
Like you let me make a sweeping generalisation.
1, I imagine that you are a tenant
2. You are in a job that does not pay you enough/or you are on benefit/or in full/part time education..
3. You are from the 'I want it now brigade'. You want to enter the property ladder at the top, and not buy/improve/sell to get where you want to be.
4. You want to keep up with the Jones's but unfortunately cannot, so you have become bitter and very envious.
5. You think all LL are scum, it does not matter the majority are decent hard working people.
6. You moan about the cost of housing whilst you spend most of you money instead of saving. Everything for you should be cheaper, to make your life easier.
Life is difficult for most of us, and we work hard for what we have.
If it was not for LL's, where do you think most tenants would live? In social housing perhaps, but then again there is not enough social housing to go round. What about a tent! They're cheap, mind you you sound like the type of person who would resent paying site fees.

baileysbattlebus

JonnyBravo wrote: »

What rot.

Abbey were talking about normal OO mortgages.
This story isn't linked to BTL other than they too can be held on mortgages :rolleyes: so brit thought he'd link to a story from Oct 2007.... it's one of his pet projects.

Why on earth would any bank jeopardise a mortgage which is paid up to date with a demand for £x,000, whther that be a BTL or OO mortgage?
The most I can see is a request for the money... but to go to a reposession over it?
No chance.
IMO.

You are right - the Abbey have sent out letters to customers with flexible mortgages - not BTL - saying that their credit is limited to 90% of the value of their house and if prices fall - they MAY be asked for a lump sum, they say have no plans to enforce the clause at the moment - but there is no guarantee that they won't in the future

http://news.bbc.co.uk/1/hi/business/7781043.stm

tradetime

And guns being "life sustaining just like food is" provided you happen to be about to be stabbed to death.

Erm ....no, I did not say "just like food" adjust you specs. I simply provided a circumstance where a gun could be viewed as life sustaining for the individual in possession of it at the time, if I were to have said just like food then we would have to assume that a cheese baguette would perform the same function in the same circumstance, which I somehow doubt. I do however agree with you in the fact that I am wallowing shamelessly in some absolute bollox just killing time before going out for the night, and it looks like that time now, so I will desist from further dribble.