Struggling BTL Investors

Kenny4315

I have worked my arZe off on my developments and BTL's hence I have very little debt. Most folk would not have had the balls to take on some of the zhit holes I have take on, let alone complete them. I talking no floors, no CH, no electric/ no water, no ceiling, no plaster.

Ther are greedy BTL's but there are also plenty who are not, and provide a genuine service. It is not only BTL that has forced up the market, the percentage of BTL's in terms of the whole market in fairly small.

A major reason is normal households, who have gone that little bit further to buy their dream house, why has the £1m plus houses gone through the roof not because of BTL's. Why has mortgage debt gone up when no move has taken place (remortgaging) not because of BTL. It is because it was to everyone's advantage to keep money in the economy, remortage buy flash car, stick two fingers at neighbours, consumer spending high Mr Clown says BOOM bust is finished, bank lend in theory make more money. etc

leveller2911

Call me "Old Fashioned" but whats is so wrong with "owning" 1 home and living a life?????
It seems SO many people are intent on owning the "world",, just leave a little piece for us "underclass"...I work my @rse off too, been self employed for 22yrs, I work around 55hrs a week, earn a decent wage .I would still love to own my own house and due to rediculous local prices I havent played the "Game" ive just saved...
seems LIKE A "DIRTY" word now !!!!!!

I agree someone has to own the housing stock.....

I stand by my last coments ............in general BTL Landlords are one up on the evolution scale from MP,s...............
************GREED..........GREED...GREED...........

ad44downey

They should throw all buy to let chancers in debtors prisons and throw away the key. Horrible greedy people they are.

Kenny4315

ad44downey wrote: »

They should throw all buy to let chancers in debtors prisons and throw away the key. Horrible greedy people they are.

I think there are three types of BTL's

1. the dinner party or chancer BTLer - these have jumped on the bandwagon have no idea what they are doing, it is just some spare cash or dinner party chit chat..... these are now the guys in the zhit, they have now too much debt. I'd be happy for these spoilers to be thrown in with the lions. (particularly common in the London area)

2. the professional/sensible BTL - these guys provide a service, are not in trouble and are in it for the long term. They have not bought up entire estates on the back huge debts, but have some property with a sensible proportion of debt to equity. If it where not for these guys, there would be alot of young professionals sleeping on the streets.

3. professional BTLers with large portfolio (often inherited) - these guys have tons of Rackman style places, and rack in loads of DSS loot, while doing !!!!!! all to maintain the property. I have one of these BAR STEWARDS next to one of mine and I'd love to get the BAR STEWARD in a back alley and educate him about his maintenance procedures. Although the council might get there first.

ad44downey

Kenny4315 wrote: »

I think there are three types of BTL's

.

No, only one type. They're invariably very greedy, inconsiderate people who inflated house prices by borrowing large amounts of other people's cash. And who deprive ordinary, hard-working people of the chance of owning their own home

chucky

Kenny4315 wrote: »

I have worked my arZe off on my developments and BTL's hence I have very little debt. Most folk would not have had the balls to take on some of the zhit holes I have take on, let alone complete them. I talking no floors, no CH, no electric/ no water, no ceiling, no plaster.

Ther are greedy BTL's but there are also plenty who are not, and provide a genuine service. It is not only BTL that has forced up the market, the percentage of BTL's in terms of the whole market in fairly small.

A major reason is normal households, who have gone that little bit further to buy their dream house, why has the £1m plus houses gone through the roof not because of BTL's. Why has mortgage debt gone up when no move has taken place (remortgaging) not because of BTL. It is because it was to everyone's advantage to keep money in the economy, remortage buy flash car, stick two fingers at neighbours, consumer spending high Mr Clown says BOOM bust is finished, bank lend in theory make more money. etc

very, very true

leveller2911

ad44downey wrote: »

No, only one type. They're invariably very greedy, inconsiderate people who inflated house prices by borrowing large amounts of other people's cash. And who deprive ordinary, hard-working people of the chance of owning their own home

:beer: :beer: IN A NUTSHELL !!!:beer: :beer:

Kenny4315

ad44downey wrote: »

No, only one type. They're invariably very greedy, inconsiderate people who inflated house prices by borrowing large amounts of other people's cash. And who deprive ordinary, hard-working people of the chance of owning their own home

Not correct. I have 3 flats. I bought it well under market value, anyone could have outbid me. The recent development I did went to sealed bids, after essentially the council forced sale on a direlict building, that was 3 flats and in now a single house (as originally built). Even the builders ran from it.

Borrowed huge amounts .. not true.

I put £100k down on the development, and £90k on the BTL. The development mortgage can be paid be cash currently held on deposit.

Current market value of BTL £600k mortgage £270k, development £800k mortgage £225k. That's less than 50%, how much will you be putting down as a percentage more or LESS ??

Cleaver

ad44downey wrote: »

No, only one type. They're invariably very greedy, inconsiderate people who inflated house prices by borrowing large amounts of other people's cash. And who deprive ordinary, hard-working people of the chance of owning their own home

That's a stupid generalisation.

leveller2911

Kenny4315 wrote: »

Not correct. I have 3 flats. I bought it well under market value, anyone could have outbid me. The recent development I did went to sealed bids, after essentially the council forced sale on a direlict building, that was 3 flats and in now a single house. Even the builders ran from it.

Borrowed huge amounts .. not true.

I put £100k down on the development, and £90k on the BTL. The development mortgage can be paid be cash currently held on deposit.

Current market value of BTL £600k mortgage £270k, development £800k mortgage £225k. That's less than 50%, how much will you be putting down as a percentage more or LESS ??

YEP IM RIGHT AGAIN.....GREED...GREED...GREED.......WHY DO YOU NEED ALL THAT KENNY.???..SEEMS LIKE ITS JUST A GAME TO YOU....ITS PEOPLES LIFES TOO

YOU SOUND LIKE ANOTHER NICOLAS VAN HOOKSTRATEN (forgive the bad spelling) I can just picture the fur coat and big cigar...lol