Accidental Landlords are starting to sweat.

chewmylegoff

amcluesent wrote: »

I for one am putting some serious folding in a vulture fund to snap up the assets of distressed BTLers as soon as the margins calls start coming in.

all you will achieve is making the people who run the vulture fund richer. why not just do it yourself.

StevieJ

ad9898 wrote: »

Seems like the flood of people who thought the market was going to recover, and so let out their property are starting to sweat, with mainstream opinion starting to seep through that there is zero chance of a 'recovery' in the housing market in the forseeable future.

Means the recovery is just around the corner then :T

ad9898_3

ukjoel wrote: »

Erm maybe I am stating the obvious but someone with a 200k tracker mortgage may have seen their rent drop from 950 to 795 but wouldnt they have also seen an interest only mortgage drop from 4.5% down to .5% as well.

Thats a drop of about 10k a year down to 2k a year.

I bet they are really kicking themselves about losing £150 rental income when they are also saving £700 a month on the morgage.

Of course you are correct, however I would hazard a guess that out of the 1 million + BTL mortages out there, all of them aren't on trackers, and then you have the small matter that of those that do have trackers, how many have got one that is down at .5% ? It would be interesting to find out, as this is being rolled out all the time to counter the argument.

ad9898_3

StevieJ wrote: »

Means the recovery is just around the corner then :T

You're probably right, but there is only one corner on this road, and it's a 1000 miles away, and we're walking, with a broken leg and a crutch.:D

Geenie

Things seem to be moving here in Devon. Sold signs are becoming quite noticeable, and an estate agent in the weekend property rag said that they had 60 offers in 6 weeks, if to be believed!!!

Not sure what prices they went for of course, but supply and demand is what matters, and there isn't a great deal when it comes to family sized, detached in the country around here, as I know from EA's hassling me after placing an advert for a rental recently.

StevieJ

ad9898 wrote: »

You're probably right, but there is only one corner on this road, and it's a 1000 miles away, and we're walking, with a broken leg and a crutch.:D

Maybe it is me but I always think the opposite is going to happen to what Mr Mainstream thinks Call me contrarian:cool:

penguine

StevieJ wrote: »

Maybe it is me but I always think the opposite is going to happen to what Mr Mainstream thinks Call me contrarian:cool:

Out in the real world, Mr Mainstream seems to think the housing market has bottomed out and it's a great time to buy. That's what I keep hearing from most people I know. So you're not that contrarian, except on here.

ess0two

penguine wrote: »

Out in the real world, Mr Mainstream seems to think the housing market has bottomed out and it's a great time to buy. That's what I keep hearing from most people I know. So you're not that contrarian, except on here.

Probably right,not everyone needs to consult an internet forum before buying property.

Cleaver

ess0two wrote: »

Probably right,not everyone needs to consult an internet forum before buying property.

True. Some of them probably should though.

I raised the old house price issue in our office last week and the general consensus seemed to be that the worst was over and it was time to get buying again. Can't say I agree and I don't think they are right, but it shows what Mr / Mrs Average is thinking.

Right, can't sit here and argue about houses and Jade Goody all night, I'm off to buy some chocolate and watch Superbad on DVD with Mrs Cleaver. Or, as amcluesent may put it:

"off to bury my head in the sand through the purchase of uneccessary confectionary that the masses induldge in, and that Clown will no doubt tax to death before long. And I will show a reluctance to accept my pitiful existance in life through pathetic indulgance of idiotic American films which won't be produced much longer due to the stupid, over-spending of the Hollywood smulch industry, of which Clown obviously played a part."

Night all.

StevieJ

penguine wrote: »

Out in the real world, Mr Mainstream seems to think the housing market has bottomed out and it's a great time to buy. That's what I keep hearing from most people I know. So you're not that contrarian, except on here.

Not the ones AD knows and I probably live closer to him than I do to you

mainstream opinion starting to seep through that there is zero chance of a 'recovery' in the housing market in the forseeable future.