Misery of the BTLers and property developers...

Graham_Devon

Kenny4315 wrote: »

How's that you mathematical moron.

£350k purchase price + £70k refurb = £420k, value late 2008 £800k (after getting on for 15% of the drop), another 20% would take that down to £640k, meaning I'd still be up by £220k. The O/S mortgae balance is £225k, as I put £100k down and paid a further 10% without penalty. So it would have to fall over £700k or just over 75% from peak, or well over 65% from the end of 2008 position.

In other words the country well and truly dekcuf, as there are plenty of folk ahead of me in the negative equity queue.

They may have a period of NE but unless your totally stupid which is a significant possibility it is clear that I have no possibility of NE. :money:

Love how you like to get all mathmatical when it comes to this, but come to interest rates you simply resort to getting personal!

Kenny4315

Graham_Devon wrote: »

Love how you like to get all mathmatical when it comes to this, but come to interest rates you simply resort to getting personal!

You still don't get it GD, if interest goes up on my debts, it will go up on my cash on deposit. So it matters not a jot.

ad9898_3

Kenny4315 wrote: »

You still don't get it GD, if interest goes up on my debts, it will go up on my cash on deposit. So it matters not a jot.

The interest on your debts are almost certainly going to outstrip the interest on your cash on deposit. Thats how banks make their money, didn't you know.

Kenny4315

ad9898 wrote: »

The interest on your debts are almost certainly going to outstrip the interest on your cash on deposit. Thats how banks make their money, didn't you know.

That's boule ocks... currently I'm in a fixed rate at 7% with good old HBOS, while my main house is a 5%, and will soon drop to a level of around 4%, and my BTL is at 2.15%. In fact I can't remember the last time I invested heavily and was not making considerably more than the mortgage rate, the reason why is because it's never happened. Or I'd just pay it off. :money:

If I can't get an investment return on the amounts I'm talking about, at above my debt interest rate then I'll go down to No10 bend Mr Clown over and give him one .... as I don't fancy the prospect of that I am pretty confident.

Graham_Devon

Kenny4315 wrote: »

You still don't get it GD, if interest goes up on my debts, it will go up on my cash on deposit. So it matters not a jot.

I get it.

I somewhat think maybe you don't.

Your interest goes up on your deposit pot, of 250k? Wow.

It will also go up on your mortgages, and as you have said your mortgages outweigh the savings.

You called someone a mathmatical moron beforehand, than came up with that peice of genius? Let's see. Next you'll be on a better savings rate than the rest of the UK.

You hear the news that the CPI is on the up? All that talk about interest rates you were guarenteeing not going up?

Oh deary me.

Kenny4315

Graham_Devon wrote: »

I get it.

I somewhat think maybe you don't.

Your interest goes up on your deposit pot, of 250k? Wow.

It will also go up on your mortgages, and as you have said your mortgages outweigh the savings.

You called someone a mathmatical moron beforehand, than came up with that peice of genius? Let's see. Next you'll be on a better savings rate than the rest of the UK.

You hear the news that the CPI is on the up? All that talk about interest rates going up?

Oh deary me.

I did get A level mathematics when it was a difficult subject with a good grade..... old bean. Are you forgetting my rental income more than covers the BTL ... or has that passed you by ....

and I'm also a qualified accountant ... and a certifed SAP FI-CO & SEM consultant.... so I could always go back to that if things get really tough ... don't know what rates are at present for that type of thing probably around £100k ish at a permanent, or around £800 per day on contract.

Mortgage rates would need to go upto approx 7.66% for me the break-even, that's not happening is it GD ..... on the BTL

t1gger

can people please use "you're" for you are and not "your"

I thank you

Kenny4315

Graham_Devon wrote: »

Next you'll be on a better savings rate than the rest of the UK.

How do banks and building societies structure their saving schemes GD, I can be sure that I'll get a better rate than someone investing £1 or £100. Ever heard of rate tiers of interest rates ... go into a branch and pick up a brochure .... I can't be bothered to explain the obvious to you. :rolleyes:

Graham_Devon

Kenny4315 wrote: »

I did get A level mathematics when it was a difficult subject with a good grade..... old bean. Are you forgetting my rental income more than covers the BTL ... or has that passed you by ....

and I'm also a qualified accountant ... and a certifed SAP FI-CO & SEM consultant.... so I could always go back to that if things get really tough ... don't know what rates are at present for that type of thing probably around £100k ish at a permanent, or around £800 per day on contract.

Mortgage rates would need to go upto approx 7.66% for me the break-even, that's not happening is it GD .....

So your a qualified accountant. Have an A level in maths.

Yet, every post, you base all your maths on TODAY.

The above, is based on today, and not taking into account your asset price going down. Neither are you factoring in the fact that rental prices are coming down.

But carry on boasting. I actually got bored now.

before_hollywood

i remember there was someone i was friendly with about a year ago, we got to the point of nearly getting together infact, she was in a graduate job and i was working for my towns biggest employer, she mentioned that she was looking for somewhere to start a btl portfolio with her brother. then she said 'who do you live with?' i said family cos house prices around here are too expensive for a would be ftb like me.

we never spoke again, shame, apart from the greed she seemed quite pleasant and funny, wonder if she realised the reason she was still in a rented flat in somewhere i wouldnt live was because of people being btl landlords before her