Getting a mortgage is going to get even tougher.

Percy1983

Don’t forget that without booming prices a lot of would BTL landlords won’t have the equity to cash to deposit on the BTL they want.
In short without free money they have done nothing to earn their ‘business’ is a none starter.

Buy_It_Now

Percy1983 wrote: »

Don’t forget that without booming prices a lot of would BTL landlords won’t have the equity to cash to deposit on the BTL they want.
In short without free money they have done nothing to earn their ‘business’ is a none starter.

A little difficult to understand your point. But, if i take a stab, not all landlords need to mortgage their existing primary residence to obtain a BTL property.

Percy1983

Buy_It_Now wrote: »

A little difficult to understand your point. But, if i take a stab, not all landlords need to mortgage their existing primary residence to obtain a BTL property.

I agree not all do, but many of them have built the empire based on borrowing against and empire constantly increasing in value.

The sums wouldn't have worked in a level or falling market.

nearlynew

Buy_It_Now wrote: »

A little difficult to understand your point. But, if i take a stab, not all landlords need to mortgage their existing primary residence to obtain a BTL property.

Have a look at at post #17 for a more detailed explanation of percy's point.

wotsthat

Graham_Devon wrote: »

Exactly.

I've read about how the fee's mount up for the tenant on the house buying board. Inventory checks on the way in and inventory checks on the way out...£200 thanks.

Of course, if they are moving, theres likely an inventory check on the way in to the next rental too. Could be £300 in the space of 6-8 months which the tenant has to find, because the landlord and the agency both want to protect themselves.

S**t. I've a horrible feeling that we've just agreed on something.

It's the same with anything in life. Spending other people's money encourages a generosity that otherwise wouldn't happen.

homelessskilledworker

Buy_It_Now wrote: »

Good news for BTL investors :beer: Rents will soar :j

So will arrears, how are you going to deal with that?

Buy_It_Now

homelessskilledworker wrote: »

So will arrears, how are you going to deal with that?

Tenants vetted....professionals only (nice big deposit), no cats, no dogs and no smoking :beer:

nearlynew

Buy_It_Now wrote: »

Tenants vetted....professionals only (nice big deposit), no cats, no dogs and no smoking :beer:

And that's how you prevent arrears is it?

IveSeenTheLight

homelessskilledworker wrote: »

So will arrears, how are you going to deal with that?

IIRC the current stats showing rents rising and arrears falling?

Inevitably in life, people have choices.

We can all moan when prices increase i.e. utility / petrol etc, but we have a choice to either use or not.

Far from rent increases causing further arrears, I think most people would find their cloth cut in other areas first before risking the roof over their head.

Buy_It_Now

nearlynew wrote: »

And that's how you prevent arrears is it?

Yes. NICE BIG DEPOSIT, just in case you missed it.