Buy to Let trash

silvercar

If I was looking to rent, I would be grateful for the BTL brigade increasing the number of rental properties. If renting was my only option I'd be annoyed by the STRs grabbing the best properties when they could have stayed as OOs rather than competing with those who have to rent.

FATBALLZ

silvercar wrote: »

1. Those who sold-to-rent. Sold their home to rent for a while and then buy back after the crash. So in the meantime they are increasing the number of tenants which forces rents up (supply and demand) and also they tend to be the people who are working with deposit money, so can nab the best rentals. I would have expected the long term renters to be up in arms at these STRs.

I don't think the 6 people who sold to rent in the hope of a nominal price crash had enough impact on the market for anyone to care. Apart from a couple of people on the 'debate...' board.

silverchair

sarahevie wrote: »

completely disagree with this notion that a whole generation have been priced out.

At 26, myself and all my friends from uni are now owner occupiers. No, I didn't have parental help, we OH earns the minimum wage if we can do it anyone can.

Adjust your area, aspirations, get on with it

I suppose it depends on where you live. If you live in London & are on the minimum wage, I doubt very much you can buy somewhere at 26 & with no help from parents. Not unless you live with your parents & dont contribute anything. Living with parents isnt an option for some people (Im not talking about pride). It also depends whether you have an OH, someone else to help pay the mortgage

ukcarper

silverchair wrote: »

I suppose it depends on where you live. If you live in London & are on the minimum wage, I doubt very much you can buy somewhere at 26 & with no help from parents. Not unless you live with your parents & dont contribute anything. Living with parents isnt an option for some people (Im not talking about pride). It also depends whether you have an OH, someone else to help pay the mortgage

I wouldn’t have thought you could have ever bought in London on the minimum wage I had to move to 40 miles outside to buy in the seventies and that was earning a lot more than minimum wage.

tbs624

B_Blank wrote: »

I didnt say your worse, I said I couldnt get on with a BTL LL. Hardly means I think you should all be locked up..

and yet looking back at the OP.........

B_Blank wrote: »

........I simply can't stomach paying rent to pay off mortgages (+some) of buy to let landlords who I genuinely think are the worst people in society today. I think I could be friends with a murderer before I could be friends with one of these idiots with 100 properties, renting them out thinking they are some big shot

B Blanks politics seem so muddled : in another thread he blurts:

B_Blank wrote: »

It is like we are heading back to Victorian times and the great work thatcher did to increase home ownership is being reversed now. A new landed class is now exploting those less fortunate. This time it isnt a class divide though, it is an age divide.

Thatcher and great works? Decimating the social housing stock via RTB? Don't get me started........

Brallaqueen

There are many on here who can, and have, refuted the idea that FTBs have been priced out (thanks sarahevie) and I'll add my voice to the choir. Late twenties, single, sub 20k income and bought a flat a year ago. It can be done!

OP, think positive - you have saved money and live at home so you can save some more! You too can be a homeowner if that is what you want but it really would do you good to stop thinking about the past and concentrate on the future - how do you think the market will go? who do you trust to give you sensible advice and information? Time to make a decision and run with it, rather than being stuck in this 'but if only' state of mind that leaves you in a dither!

poppysarah

Brallaqueen wrote: »

Late twenties, single, sub 20k income and bought a flat a year ago. It can be done!

How much did you spend? How much deposit did you save?

Brallaqueen

Bought a 75k ex-council flat, saved the 10% deposit plus fees over 4 years since I had left Uni (helped by living at home with my mum for the final year like OP here).

I admit that I'm lucky - I live in the middle of England where prices are less mental than London for example!

However I still think that the OP is think more about all the things against him/her (high prices, BTL, mortgage restrictions) rather than accepting the situation as it is and working out a strategy from there. I'm only saying this because I did it for 3 years of saving, I wanted a house in a nice area with a garden and this and that - I was your typical dreamer until reality hit

ninjapoundit5

sarahevie wrote: »

completely disagree with this notion that a whole generation have been priced out.

At 26, myself and all my friends from uni are now owner occupiers. No, I didn't have parental help, we OH earns the minimum wage if we can do it anyone can.

Adjust your area, aspirations, get on with it

sarahevie wrote: »

We are aiming for more of a life balance this year:D

We are particularly frugal though as we owe 7X our salary for mortgage - so have probably the worst mortgage to income ratio on the board. :eek:

We have decided that we will have a holiday, we will take the kids out for lunch, I will stop avoiding expensive play dates and have a bit more fun, I might even let something not value hit the shopping basket:rotfl:

We won't waste money though - I couldn't bear to - but I don't want to only spend £15 per child at christmas this year and a year of not going out just isn't that fun.

Dear god... :wall:

This is the sort you should be aiming more of your anger at IMHO B Blank. I'm no fan of borrow-to-let 'investors' but people that borrow 7x earnings, and banks that let them are totally irresponsible.

Unbelievable.

SwipernoSwiping

While I can understand the sentiment of the OP - realistically life isn't fair, I don't see why I should line the pockets of others but that said, when you buy anything your lining someone's pocket. It't the nature of the world.
Its the sheer greed of some landlords that gets us lowly tenants all upset. The lack of care for their property, basically seeing us peasants as property maintainance bodies.
Sure if you want to line your pockets do so, but have the decency to look after what you own, not expect us to repair everything. - Thats what it says in the contract.

It is about time that the "wishy washy" ways in which tenants are "looked after" from county to county. You have more rights in a council home than you do a private one.