Misery of the BTLers and property developers...

Kenny4315

That's comfortably buys me at £625k worth of property at a 40% deposit level or more if I choose a lower deposit.

Kenny4315

mewbie wrote: »

Sorry to butt in but I think you're talking nonsense. The days of BTL's being able to equity release some profits to buy another place are so over. Even if they could, why would they?

Mewbie what are you on about ... I never said anything about equity release. GO and read the post. It says that they have equity ..... ie in the portfolio to cover market corrections.

Graham_Devon

Kenny4315 wrote: »

That's comfortably buys me at £625k worth of property at a 40% deposit level or more if I choose a lower deposit.

Why would a lender lend you 60% of the price of a property, when you have already got loans on other homes, probably in negative equity, that are costing you x amount of pounds per month to service? (When interest rates go up and your getting less in rent than your outgoings).

We are kind of over those times. It's done and dusted. It's not 2007 anymore.

Why would the lender not tell you to pay off your existing exposure and then come back?

mewbie_2

Kenny4315 wrote: »

Mewbie what are you on about ... I never said anything about equity release.

You didn't need to, I read between the lines.

Kenny4315

GD ... i have concluded that you don't read the posts.

I already have DIP's in place.

Graham_Devon

Kenny4315 wrote: »

GD ... i have concluded that you don't read the posts.

I'm reading. Your just not answering any questions and keep relating everything to the bubble thats just popped.

Can we talk interest rates yet!? Or is that a no no?

Kev09

mewbie wrote: »

Hi Dan, I am not talking about landlords. I am talking about BTLetters. They're not landlords. They are wannabees - little experience - saw the pound signs and had some equity to play with in their own property. It's been a massive game for a few years. They will go gradually, and for some, painfully.

Leaving the landlords. The pro's. The old timers.

That sounds very exclusive to me! the "landlords" as you put it were and are raging at the fact lots of new entrants came into the market and forced up prices for them meaning that it became less and less viable to buy properties. Margins have and will be continued to be squeezed however it is not as bad as the media makes out fear sells newspapers!

The BTL market has been opened up for good!

Dan:_4

mewbie wrote: »

Hi Dan, I am not talking about landlords. I am talking about BTLetters. They're not landlords. They are wannabees - little experience - saw the pound signs and had some equity to play with in their own property. It's been a massive game for a few years. They will go gradually, and for some, painfully.

Leaving the landlords. The pro's. The old timers.

Agreed 100%.

Kenny4315

GD .. we can safely say that interest rates are low, and are going to remain so for so time to come, at under 1% for the next 6 months and below 3% for the next 2 years. What more is there to say.

What's your current position. renting, or owner (is so what's your equity).

Kenny4315

mewbie wrote: »

You didn't need to, I read between the lines.

Well your not a very good reader then are you ? :rolleyes:

What I have been saying is that many investors pulled out of thr market at the peak and have cash sat in the bank. And many like msyelf have heaps of equity even if there's a 35% correction.