BTL: "... a ticking time bomb."

System

I really don't understand the dislike for BTLers.

mewbie_2

Joeskeppi wrote: »

I really don't understand the dislike for BTLers.

Here's some reasons.

1. They are rich and successful (a few of them).

2. They are held at least partly responsible for the housing boom in this country that saw FTB's and Brown's hard working families priced out of buying propertires to live.

3. They are also held partly responsible for wrecking the world's economy through crazy and reckless gambling with other peopl's money.

4. Those on Singing Pig (for example) went out of their way to rub people's noses in how much money they had made with their gambling.

5. The Wilsons.

6. The Boveys.

7. Krusty (ed: not BTL?)

8. er. that's it.

pizzagirl

Joeskeppi wrote: »

I really don't understand the dislike for BTLers.

If BTLers didn't own the properties then presumably normal people could instead? I think BTLers are generally viewed as speculators who caused a shortage of homes to buy, pushing prices up, and so deprived the ordinary person of the chance of owning their own home

ukcarper

If it weren’t for BTL rents would be higher because of the shortage of rental properties.
BTL did contribute to HPI but HPI would have happened anyway and the people who cant afford a house now still wouldn’t have been able to in 2007.

As most landlords would have bought their property initially surely they are nearly all BTL

PasturesNew

ukcarper wrote: »

If it weren’t for BTL rents would be higher because of the shortage of rental properties.
BTL did contribute to HPI but HPI would have happened anyway and the people who cant afford a house now still wouldn’t have been able to in 2007.

As most landlords would have bought their property initially surely they are nearly all BTL

There wouldn't be a shortage of rental properties because more people would own their own home at an affordable rate.

And, rents might even be lower because the house prices weren't as much so the landlords weren't having to ask more because it cost them more.

HPI wouldn't have happened anyway in the way that it did, it was inflated with speculative/fake money from people just trying to make fast/easy cash.

Alan_M_2

ad9898 wrote: »

I disagree, I think he was a very lucky speculator, just because someone is lucky, doesn't necessarily mean they are professional......... not by a long chalk.

The rental income is his income, so by definition it is his profession.

Out of pure curiosity what is your definition of a professional landlord? The Duke of Westminster maybe and anything less than that just a fly by night?

Alan_M_2

PasturesNew wrote: »

There wouldn't be a shortage of rental properties because more people would own their own home at an affordable rate.

And, rents might even be lower because the house prices weren't as much so the landlords weren't having to ask more because it cost them more.

HPI wouldn't have happened anyway in the way that it did, it was inflated with speculative/fake money from people just trying to make fast/easy cash.

I still don't buy this....I see the BTL phenomena a result of HPI not a casue.

I believe (correct me if I'm wrong) that no more than 8% of total mortgages are BTL.

You can't seriously suggest that 8% is driving the market?

My previous posts in this trhead about my builder friend I don't see him as a speculator. He bought for pure investment yield veiwing capital increases as a bonus not a necessity. That's not speculation that's investment...something many people seem to overlook the moment the evil BTL acronym is mentioned.

wolfplayer

Out of pure curiosity what is your definition of a professional landlord?

What qualifications make these women professional landlords?
http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=478509&in_page_id=56

Buy-to-let landladies are still thriving
Duncan Farmer, Mail on Sunday
24 February 2009



'I get a lot of much bigger developers coming to me and asking advice,' says 45-year-old Teresa, who bought her first buy-to-let in London in 2001 and now owns 20 houses and flats worth more than £1.5m, most in her native Doncaster.

She bought five more houses last summer and finished work on five flats, but has stopped buying to concentrate on her latest venture - a lettings agency



Helen Currie, from Leigh in Lancashire, gave up her full-time job last month to concentrate on her portfolio of eight buy-to-let homes.

I couldn't cope with work and running the properties,' she says. 'I suffer from depression, which is brought on by high levels of stress.' Now she wants to buy more houses, but the cost of mortgages is too high.

'The lenders want two or 3% above the base rate and a huge arrangement fee,' says Currie, 44, a mother of three and married to a police inspector. 'Prices here have fallen and in the next couple of weeks I am looking at a few places to buy.'

wolfplayer

Alan_M wrote: »

You can't seriously suggest that 8% is driving the market?

That is exactly what drove the market to totally unaffordable levels.

Alan_M_2

I see a profession as that which brings in your majority income, therefore by definition, the above examples are professional landlords.

What qualifications would you like to see these people have before they embark on this route? Should they all be required to be Chartered Surveyors or similar?