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The Daily Express............
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GHOULS_ON_THE_RUN wrote: »The Daily Express is the friend of the homeowner and a jolly good read. I can't wait to get my copy first thing in the morning.
Though even the Express likes a bit of a whinge against the unfairness of it all.
WHY BUYING TO LET IS SO UNFAIREXPRESS! wrote:IT seems unfair.
The result of rising property prices mean the growing numbers of people who can't afford to buy are pushing up rents - which means that those lucky enough to be owners already can afford a buy-to-let loan, which, of course, in turn means they are competing with first-time buyers for the one and two-bedroom flats at the lower end of the market, which pushes up prices.
Confused? You might be, but if you own a buy-to-let you don't mind as long as the rent is paid each month.
Rising affordability levels and uncertainty about interest rates means people are looking for places to rent and the competition in that market has persuaded amatuer landlords to invest their pension pot in the rental market.
Rents are at record levels and buy-to-let borrowing has reached an all-time high of £7.8 billion - but buy-to-let isn't all beer and skittles and those gambling their retirement income should be aware of the risks.
The turmoil in the global financial markets is set to hit tens of thousands of British buy-to-let property investors as mortgage lenders are forced to increase rates.
Two buy-to-let lenders - Advantage and Edeus - have already announced rate rises, hard on the heels of increases from Northern Rock and Alliance & Leicester and less than a week after The Daily Express revealed that banks were preparing to raise rates, even though the Bank of England held its base rate at 5.75 per cent.
Any increases could !!!!! the boom in the buy-to-let market, which has surged over the past few years with investors disenchanted with the collapse of the pension system. There are an estimated 400,000 private investors in Britain, owning almost one million properties.
There is already evidence that some highly geared landlords may be feeling the pinch from higher interest rates. In London and the South East, where investment landlords tend to be more sensitive to interest rate changes, the number of people selling properties is above average, the Royal Institution of Chartered Surveyors says.
And across the country as a whole, the number of landlords offloading properties is at its fastest pace for two years.
Professional investors insulate themselves from the vagaries of the market. They are prepared for an interest rate rise. They can cover a void period when the property is empty.
But the tens of thousands of Britons who have all their saving and investment eggs in one basket are much more vulnerable.
http://www.express.co.uk/blogs/post/271/Sarah%20O%27Grady/2007/09/11/18917/Why+buying+to+let+is+so+unfairLong live the faces of t'wunty.0 -
Daily Express??? Are you for real?
I just love this website that generate DM headlines.
http://www.qwghlm.co.uk/toys/dailymail/In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0 -
Daily Express??? Are you for real?
Nice selection of "House Price" articles accessible via this link: http://www.express.co.uk/search/house%20prices/
It demonstrates a VERY narrow mindset. I get the feeling that genuine Daily Express readers must be very lonely and isolated and probably hate all other human beings.
Sort of like a Daily Mail reader, but with more psychopathic self-loathing.Long live the faces of t'wunty.0 -
Can we add a poll to this thread to see who really genuinely believes the Express is a credible news source?
Bit of casual racism...Long live the faces of t'wunty.0
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