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BTL "fraud"
Comments
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"So it's ok to commit a crime to buy a place to live in but not to buy an investment. Is that what you're saying? I don't really see why there would be a difference. I don't think the courts would differentiate when sentencing at the end of a fraud trial."
Well, yes in this case I thought it was. Maybe wrongly. I know its ilegal but I could understand a man/woman looking at the situation as it is and thinking of their families future and taking the chance.
On the other hand the BTLetter in the same position would be doing it solely for financial gain so in my opinion a different moral position altogether.
"I hope the head's not too sore this morning."
Aye it is but I had a bloody good night ;-)0 -
pickles110564 wrote: »I wish it would crash because I would go out and buy up a load more and make loads of tenant's happy with excellant homes to rent
This is an interesting point pickles BUT can you explain to us how you would know exactly when the market had bottomed out as surely you wouldn't want to buy into a falling market? Also, if you are not going to use the evaporating equity in your current portfolio to buy more property and have the ready cash required then why is it not already invested in property?0 -
I'm so glad to know I'm not the only MSE-er who comes home from a night out and logs on to the forums whilst drinking tea and eating toast in an effort to sober up! :rotfl:Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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pickles110564 wrote: »I wish it would crash because I would go out and buy up a load more and make loads of tenant's happy with excellant homes to rent
Using cash, right? Banks use much tougher lending criteria when securing against assets that are falling in value meaning that you will see rising rent:mortgage ratios and falling loan:value ratios across the board.
If I had enough cash to be able to buy up a load of houses I'd stick the lot in index linked bonds, utilities shares and the like and sit on a beach drinking cold beer. I wouldn't be chewing the cud with a loser like Generali on a property website!0 -
pickles110564 wrote: »I wish it would crash because I would go out and buy up a load more and make loads of tenant's happy with excellant homes to rent
The smart money is out of BTL. How do I know that? Well I'm a landord myself, and the bigger players I've spoken to have sold properties to reduce their gearing down to around 50%. Most of the newbies are maxed out on mortgages that the rents don't cover, so are in negative gearing, paying to subsidise their tenants. These will be the first to be in negative equity, so wont be able to finance further properties even if they wanted to! Why bother with yields of 3% when you can get over twice the return on deposit.0 -
Generali, you crack me up!Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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when needs must.....0
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Romani_Ite_Domum wrote: »If you on your tax returns you are robbing schools and hospitals
Why schools and hospitals? Why not bombs for Iraq? Or Afghanistan?
Why schools and hospitals?
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Gorgeous_George wrote: »Why schools and hospitals? Why not bombs for Iraq? Or Afghanistan?
Why schools and hospitals?
GG
Since when has any goverment with shortfalls on their income made cuts on bombs for Iraq? Or Afghanistan? :rolleyes:0 -
Yes. Never any shortage of cash for that sort of thing somehow.0
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