A Boost in Buy to Let Property

Thrugelmir

IveSeenTheLight wrote: »

:rotfl: You say I only read headlins and then include a link to a website that quotes the info I gave you from the source 13 posts ago

I will give you that it would appear (without knowing the Q3 data) that the number of BTL reposessions has increased.
To 1300 out of 1.182 million

If we estimate that the 2700 reposessions in the first three quarters were 700, 900 & 1,100 (produces a nice linear line ) then your rapidly increasing BTL reposessions went from 0.093% to 0.11%

If you are getting your knickers in a twist about less than 0.02%, then my god, you are going to be strung up by your knackers with all the larger data available.

Can I ask where you get your figure of 1.182 million repossessions from? :j

If you look at the CML website you won't see the all information that I gave on the link. :rolleyes:

I'm certainly not getting in any sort of a twist. At the moment I merely hold a personal view that the huge number of amateur buy to let investors. (I repeat amateur as opposed to professional, of whom I know a couple). Are heading for trouble in these difficult times. I'm not gloating more worried that all of us as taxpayers will have yet debt to service in order to bail out this sector.

brit1234

The simple fact is that house prices are falling at the fastest rate ever. This is reducing buy to let equity in their property, with the effect making remortgages more expensive and harder to release equity to buy new properties (gearing).

Also there are a number of banks charging Margin Calls whilst the others try to get rid of there buy to let services it doesn't look rosy.

Buy to let together with self certs are the British subprime. All the gift deposits, fraud, overvalued properties and gearing make it very suceptable. If you don't believe me watch the treasury select committee meeting with HBOS and their views back in November where they said the same thing. They were especially worried about the big landlords.

Remember this economic slow down has only just started and the US has been in it for 18 months before us, things are getting worse there. We have a long way to go yet.

ad9898_3

Good to see you back posting Brit, even chucky says we're being overcome with loonies.:D

chucky

ad9898 wrote: »

Good to see you back posting Brit, even chucky says we're being overcome with loonies.:D

you got to love Brit aka Mr Policeman...

so tell me Brit which banks have actually enforced these margin calls?

IveSeenTheLight

Thrugelmir wrote: »

Can I ask where you get your figure of 1.182 million repossessions from? :j

I didn't say 1.182 million reposessions :rofl:
I said that was the number of BTL mortgages

Simple mathematics

1300 reposessions in Q4 represented 0.11% of all BTL mortgages

1300 / 0.0011 = 1.181818 million
rounded up to 1.182 million

This also tied up roughly with the CML data that was available from the CML before they closed off their statistics

IveSeenTheLight

chucky wrote: »

you got to love Brit aka Mr Policeman...

so tell me Brit which banks have actually enforced these margin calls?

Yawn, Brit's slighly trying to raise the non issue of margin calls yet again.
Its not been seen and therefore not implemented

ess0two

Brit the accepted MSE troll.

Thrugelmir

IveSeenTheLight wrote: »

I didn't say 1.182 million reposessions :rofl:
I said that was the number of BTL mortgages

Simple mathematics

1300 reposessions in Q4 represented 0.11% of all BTL mortgages

1300 / 0.0011 = 1.181818 million
rounded up to 1.182 million

This also tied up roughly with the CML data that was available from the CML before they closed off their statistics

The increase in the number of mortgages in arrears is a far better indicator of current trends. Let's see what happens over the next 2 quarters. :beer:

brit1234

ess0two wrote: »

Brit the accepted MSE troll.

Things have certainly changed when the trolls call normal members trolls now.:eek: Time to reclaim the forum for sensible debate. :j

mewbie_2

ess0two wrote: »

Brit the accepted MSE troll.

He is indeed accepted and his contributions are welcomed.