clear deterioration in the performance of the BTL index

socrates

Lets not kid ourselves here - this is a very short term position we are all in.

Rates will be higher a lot longer than they are lower.

What we really need is some stability and long term sensible rates all round

There is no way that the powers that be will tolerate a LL paying £300 pcm compared to £1000 pcm (approx) and still getting £1100 pcm in rental income.

Now is the time to set by a contingency fund and to repair like mad in anticipation of the next bunch of clowns with their next inept policies.

Brit tries hard and has to be commended but its not a pretty outlook for any of us - LL or tenants

RomansProperties

Socrates I agree with you it would be far better if we had security in knowing what future rates would be.
I am quite happy paying around the 6% mark for my mortgages as my properties yields are higher than this.
But I dont think its all doom and gloom for landlords as Brit likes to point out.
I have good percentage of my properties full and the rents are staying constant.

stevetodd

RomansProperties wrote: »

Maybe we should talk about worst rates.
I have 2 properties at 6.49% until 2010 and 2011

I have only ever gone for trackers products, so that's all I have

RomansProperties

I have approx 30% on trackers or base rate products but I prefer to know exactly whats going on
I have 4 houses which are coming to the end of fixed deals mid this year and the LIBOR rates they go onto are currently between 3.56% and 4.01%
I plan on leaving these on SVR's until I can fix for longer than 2 years.
I dont see the point in paying 1.25% of fees to fix for only 2 years.
Hopefully in a couple of years banks will be lending again

chucky

RomansProperties wrote: »

Maybe we should talk about worst rates.
I have 2 properties at 6.49% until 2010 and 2011

my worst i have is a 5.39% with mortgage express till April 2010.
not in a big rush to move - will wait and see

stevetodd

brit1234 wrote: »

rental price inflation has stayed flat over the past year

So they don't buy into 'the falling rents' arguement, I personally have not witnessed rents falling, I wonder if falling rents are specific to certain types of peroperty such as non selling new build flats in certain areas where overdevelopment has taken place? If so this would explain rental inflation being flat, i.e. rising as normal but overall the effect of the specific properties falling drags the average rental inflation down to being flat

RomansProperties

Has any of the other landlords on here reduce their rents?

ad44downey

It's never been truer:

Buy to let = Buy to LOSE

The whole seedy Buy to Let trade needs outlawing.

RomansProperties

ad44downey wrote: »

It's never been truer:

Buy to let = Buy to LOSE

The whole seedy Buy to Let trade needs outlawing.

Thanks for your thoughts!!

stevetodd

RomansProperties wrote: »

Thanks for your thoughts!!

Don't feed the troll