Halifax... Down -2.4% for April

homelessskilledworker

StevieJ wrote: »

And this months fall as a result of this months buys being dragged forward into March

Probably yes :huh:

wotsthat

RenovationMan wrote: »

With a HPC and stagnating economy, the government will keep interest rates low, resulting in my having very low mortgage costs and allowing me to channel these saving into a combination of house renovations, mortgage overpayments and pensions investments. I'm much better off at the moment than I ever was during the boom years. My main aim is to come out of this recession in a far better financial state than when I went into it. So far so good.

I'm a little embarrassed by just how great the recession's been for my family and I.

I would never have been able to afford a holiday place if the housing market had kept rising. I was able to knock the seller down and sensible money management prior to 2007 and since meant I found getting a decent mortgage a breeze. Bargains to be had on furnishings and the like. When I sit on the balcony looking at the sea with a glass of Rioja I must admit that the status of the UK's AAA rating simply doesn't enter my head.

The major change to my behaviour is that whereas I was mad keen to make mortgage overpayments I'm now actively avoiding capital repayments like the plague.

If the scaremongers can keep talking down the economy it suits me just fine.

Is the part where I should say it's children, old people and animals I'm most worried about? (and world peace).

RenovationMan

the_flying_pig wrote: »

yeah.

i am currently in the process of buying [agreed price, move dates, etc, with buyer & seller and have a relatively short chain, only three UK houses in it, but not completed the transaction].

this is the biggest, most expensive, house i'll ever own so in a narrow sense i will have an interest in prices going up, but will still hope for further modest falls because, in short, i care about my children's future. i'd like them to be able to able to afford to live near to me in an equal or better than quality of housing.

the 'bulls' one sees on here talking up the benefits and or/inevitability of rapid inflation in the near future are, almost to a man [or sock puppet] childless and/or landlords or [in whatever shape] multiple home owners. HPI confers almost no real benefits on regular 'homeowners'.

Good luck with the house purchase, it sounds like it's going to be a relatively painless experience with such a short chain.

shortchanged_2

chucknorris wrote: »

Why would I want to get out with my mortgage rates averaging only 1.1%, in 21 years of being a landlord it has never been more profitable than the last 3 years (by some margin), I'll get out in about 10-15 years when the market is good.

I would naturally expect your rental business to be very profitable these days because you got into many years ago and therefore probably paid a very small sum for the properties in your portfolio compared to what somone would have to pay today for the same group of properties.

That combined with the fact that people getting BTL's today certainly aren't going to be on rates of 1.1% in my eyes doesn't really make BTL today no where near as attractive as it used to be and potentially quite a high risk investment.

RenovationMan

shortchanged wrote: »

I would naturally expect your rental business to be very profitable these days because you got into many years ago and therefore probably paid a very small sum for the properties in your portfolio compared to what somone would have to pay today for the same group of properties.

That combined with the fact that people getting BTL's today certainly aren't going to be on rates of 1.1% in my eyes doesn't really make BTL today no where near as attractive as it used to be and potentially quite a high risk investment.

Does it not enter your head that perhaps 'many years ago' when chuck got into BTL that it wasn't as lucrative as it was be for someone who got into BTL 'many years' before him? And conversely, that people who get into it now will find it more lucrative than people who get into it in 'many years' hence?

shortchanged_2

RenovationMan wrote: »

Does it not enter your head that perhaps 'many years ago' when chuck got into BTL that it wasn't as lucrative as it was be for someone who got into BTL 'many years' before him? And conversely, that people who get into it now will find it more lucrative than people who get into it in 'many years' hence?

No, it's just common sense again.

And for someone who likes to accuse people of stalking renoman, you're on a bit of a mission at the moment.

chucky

shortchanged wrote: »

I would naturally expect your rental business to be very profitable these days because you got into many years ago and therefore probably paid a very small sum for the properties in your portfolio compared to what somone would have to pay today for the same group of properties.

That combined with the fact that people getting BTL's today certainly aren't going to be on rates of 1.1% in my eyes doesn't really make BTL today no where near as attractive as it used to be and potentially quite a high risk investment.

Actually no you're wrong again. I got back into BTL at the back end of 2008 and I certainly have no complaints. Two are on a BR tracker and the other is fixed, make the most of the opportunity.

IveSeenTheLight

simonSE15 wrote: »

Can the last person to get out of BTL turn out the light. _pale_

BTL is expanding, not contracting.
There's not going to be a last person scenario.

Personally, I'm seeing increased profits in the last three years as rents have increased and mortgage rates have dropped.

shortchanged_2

IveSeenTheLight wrote: »

BTL is expanding, not contracting.
There's not going to be a last person scenario.

Personally, I'm seeing increased profits in the last three years as rents have increased and mortgage rates have dropped.

But lets face it ISTL you are in the Scottish market equivalent of London.

IveSeenTheLight

shortchanged wrote: »

doesn't really make BTL today no where near as attractive as it used to be and potentially quite a high risk investment.

Whilst a new BTL bought today will not be as profitable than one bought twenty years ago is irrelevant.
Similarly, I would envisage that a BTL bought today will be more profitable than one bought in 20 years time.
As an investor, you look at the returns expected against the current price only.
I can assure you that there are profitable opportunities for BTL investors, arguably backed up with the continued expansion in BTL.