Misery of the BTLers and property developers...

Dan:_4

FungusFighter wrote: »

Yeah, and I've been stuck int he pub with boring tw@ts like you:beer:

You can choose who you drink with, if you don't like the company why don't you just go home?

Davesnave

You can't win an argument with a stupid person.

I'm dyslexic ie I can't be @rsed to check for typos

Says it all. I can't be asred to argue with your kind either.

Makes for harmony though.

Peace n' love!

Dan:_4

FungusFighter and ad44downey.....sad first time buyers, who don't enough to buy a house....so it's everyone else's fault but their own.

mewbie_2

Dan: wrote: »

Rent will easily cover the mortgage payments esp right now with historic low interest rates.

Assuming they can keep renting out. In the heady days three years ago a 100k loan was just a nothing, after all with HPI then 100k would soon be covered. Now it's getting back to reality - a lifetime of strangling debt - a gamble too far - a bandwagon jumped on after it had left town.

So from looking at the profit, surely a large number of BTL owners must slowly be starting to see the debt. It's bad enough living with one mortgage, but half a dozen must be hell.

Edit: On topic - am I enjoying it? Well put it this way. I didn't enjoy while people bought and bought, borrowed and borrowed, and priced FTB's out of the market - oh and collapsed the economy. If they now get theirs, I guess that's for the collective good.

FungusFighter

Dan: wrote: »

No, im not a BTLer.....too much hassle for me!

This does not mean they can't pay off their mortgage. Rent will easily cover the mortgage payments esp right now with historic low interest rates.

Weather you like it or not, the economy will recover and so will house prices, so the majority will ride this out.

Let me guess - your a desperate FTB who earns a crap salary?

Nah, got me own business, 2 shops knocked into one, 4 flats above, emply 8 people and no debts to speak of :T

Just can't stand boring tw@ts

Oh, and rent will only cover mortagge if you can get a tenant :rotfl::rotfl::rotfl:

FungusFighter

mewbie wrote: »

Assuming they can keep renting out. In the heady days three years ago a 100k loan was just a nothing, after all with HPI then 100k would soon be covered. Now it's getting back to reality - a lifetime of strangling debt - a gamble too far - a bandwagon jumped on after it had left town.

So from looking at the profit, surely a large number of BTL owners must slowly be starting to see the debt. It's bad enough living with one mortgage, but half a dozen must be hell.

Edit: On topic - am I enjoying it? Well put it this way. I didn't enjoy while people bought and bought, borrowed and borrowed, and priced FTB's out of the market - oh and collapsed the economy. If they now get theirs, I guess that's for the collective good.

Touche babe, couldn't have put it better meself

Dan:_4

mewbie wrote: »

Assuming they can keep renting out. In the heady days three years ago a 100k loan was just a nothing, after all with HPI then 100k would soon be covered. Now it's getting back to reality - a lifetime of strangling debt - a gamble too far - a bandwagon jumped on after it had left town.

So from looking at the profit, surely a large number of BTL owners must slowly be starting to see the debt. It's bad enough living with one mortgage, but half a dozen must be hell.

Why shouldn't they manage to keep renting it out? The demand, as always, is still there. With the current low interest rates many landlords can pay their monthly mortgage payment 3 or 4 times over with the rent income.

I can see what your getting at Mewbie, and for some this will spell the end. For the majority - I can't see why they will not survive.

Dan:_4

FungusFighter wrote: »

Nah, got me own business, 2 shops knocked into one, 4 flats above, emply 8 people and no debts to speak of :T

I don't believe you.

FungusFighter

Dan: wrote: »

Why shouldn't they manage to keep renting it out? The demand, as always, is still there. With the current low interest rates many landlords can pay their monthly mortgage payment 3 or 4 times over with the rent income.

I can see what your getting at Mewbie, and for some this will spell the end. For the majority - I can't see why they will not survive.

Sorry mate but your pontificating out your anus:D
Record numbers are being repod and goig bankrupt, don't you read the papers?:T

mewbie_2

Dan: wrote: »

Why shouldn't they manage to keep renting it out?

To rent you need money. Big recession, unemployment - particularly affecting young people - ie. the main rent forever losers (to borrow a term) - means less renters in the pool. New build areas, funded largely by mortgage debt and lies, for the BTL wannabees - now choice of no rent, or DHSS rent. DHSS gradually reduces capital values, and makes area less likely to attract the 'young professional' as most of them are looking for work.

It's one way of looking at it. Enjoy your lunch.