Why do people resent buy-to-letters so much?

Crashy_Time

chucknorris wrote: »

Birds of a feather stick together, you just happen to know a lot of other trolls/jealous people, and misery does like company. Do you really think that I care what the likes of you think about me?

It`s very obvious from the amount of time and energy that you spend on here that you do care, so why not just take it as a given that you care and we know that you care, and debate from that standpoint?

chucknorris

Crashy_Time wrote: »

It`s very obvious from the amount of time and energy that you spend on here that you do care, so why not just take it as a given that you care and we know that you care, and debate from that standpoint?

But I really don't care what he (and you) think of me, why on earth would you think that I would? Are you also saying that you care what I think of you? LOL (you must be, but why would you care?)

westernpromise

HENRY78 wrote: »

My mrs father came from nothing but through hard work and sacrifice became FD for a multi national company.

Oh, so one of the functions. Didn't add any value, didn't make anything, never won a customer, was a pure out and out cost centre, only in his role at all because it's a legal requirement. Just spent his days fiddling the company's earnings to avoid as much tax as possible.

Not impressed, sorry.

BananaRepublic

westernpromise wrote: »

Oh, so one of the functions. Didn't add any value, didn't make anything, never won a customer, was a pure out and out cost centre, only in his role at all because it's a legal requirement. Just spent his days fiddling the company's earnings to avoid as much tax as possible.

Not impressed, sorry.

You don't come out looking good when you make that sort of comment.

I think I wrote earlier that although I was against BTL tax subsidies, I had nothing against BTL landlords. Reading through this thread, the comments from BTL landlords make them look very arrogant, greedy and self satisfied. They seem to think we should pat them on the back for being so selfless.

chucknorris

BananaRepublic wrote: »

You don't come out looking good when you make that sort of comment.

I think I wrote earlier that although I was against BTL tax subsidies, I had nothing against BTL landlords. Reading through this thread, the comments from BTL landlords make them look very arrogant, greedy and self satisfied. They seem to think we should pat them on the back for being so selfless.

You can't group all landlords together and talk about them as if they were all the same. I'm not defending all landlords for the same reason, I just don't see myself as the same, we are all individuals that have just happened to have invested in property. But that said, I think a lot of the comments that you refer to are instigated by comments from some trolls/people (not you, I hasten to add) with issues, I definitely don't think all tenants are the same, and of course most are fine.

I was out for a few drinks with a friend of mine last night and we were talking about his daughter who will be going to university next September, she wants to live in London, but he is concerned that she will end up with much more debt. It is a real problem that I can't see an answer to.

BobQ

westernpromise wrote: »

Oh, so one of the functions. Didn't add any value, didn't make anything, never won a customer, was a pure out and out cost centre, only in his role at all because it's a legal requirement. Just spent his days fiddling the company's earnings to avoid as much tax as possible.

Not impressed, sorry.

Yes it would all be so easy if we did not bother how much it costs to run a business or bother about maintaining control of it. After all you could win these contracts without having to consider if it was profitable.

While I accept that the finance role in any organisation is an overhead, suggesting it is not required is fanciful.

BananaRepublic wrote: »

You don't come out looking good when you make that sort of comment.

I think I wrote earlier that although I was against BTL tax subsidies, I had nothing against BTL landlords. Reading through this thread, the comments from BTL landlords make them look very arrogant, greedy and self satisfied. They seem to think we should pat them on the back for being so selfless.

I agree with your first sentence, but the reaction you get from the BTL community is hardly surprising when idiots create threads like this couched in such pejorative terms. A sensible debate about whether BTL is or is not subsidised is quite fair, but we should stick to the facts not the prejudices.

I doubt that BTL Landlords are treated any more favourably than any other business. It is arguable that BTL skews the market price of a house, but how is this any different to other spheres. I would argue that the price of energy and transport is higher than it should be because of the lack of competition in those markets. Also the cost of food is being brought down by the growth of firms like Lidl and Aldi, which means that when the big supermarkets faced little competition the prices were artificially higher. Is BTL any worse?

BobQ

alchemist.1 wrote: »

BTL landlords dont want to just generate rent. They want capital growth too.

I was stating your point about first time buyers not wanting to buy a house that needs renovating was wrong. I firmly believe that is the case. Do BTL landlords/property developers make it harder to buy for people in my positon. Yes they do. again most people will deal with that

That's something me and other first time buyers will have deal with and our look out. Whether i end up buying in a different area/different type of house that is a different issue

However, your reply sums up the attitude of BTL landlords and this is what causes resentment.

Just because you believe something does not make it so. The decline in DIY over the past 10 years suggests otherwise. You may not mind doing up properties but many FTBs do. They seek new houses or those maintained to a high standard so they can move their new furniture in as soon as possible.

That said you are conflating property development with BTL. There have always been builders who buy very cheap property and modernise it to sell. That is not BTL Landlording.

Attacking my attitude is a poor response, I could reciprocate but will not.

mwpt

BobQ wrote: »

Just because you believe something does not make it so. The decline in DIY over the past 10 years suggests otherwise. You may not mind doing up properties but many FTBs do. They seek new houses or those maintained to a high standard so they can move their new furniture in as soon as possible.

Eh? You choose to correlate this with FTBers but actually, if we're looking to correlate it with anything it would be the rise of BTL! I'm not saying it's correlated but in the time that DIY has declined, BTL has increased.

I doubt that BTL Landlords are treated any more favourably than any other business. It is arguable that BTL skews the market price of a house, but how is this any different to other spheres. I would argue that the price of energy and transport is higher than it should be because of the lack of competition in those markets. Also the cost of food is being brought down by the growth of firms like Lidl and Aldi, which means that when the big supermarkets faced little competition the prices were artificially higher. Is BTL any worse?

This same argument has come up again and again "how is BTL any worse than supermarkets" blah blah.

It is nonsense because housing costs have gone up while food costs have gone down.

But probably most importantly, stop denying the evidence in front of your (collective) eyes. People are !!!!ed off with the property situation and the fact that BTL landlords seem to be expanding while almost everyone else is finding it harder is a focal point. People are !!!!ed off, but yet instead of thinking, hey maybe they have a point, you guys just keep saying they're wrong and/or stupid and there is no problem with the current system. Well, even the government now seem to disagree with you.

HENRY78

BobQ wrote: »

Just because you believe something does not make it so. The decline in DIY over the past 10 years suggests otherwise. You may not mind doing up properties but many FTBs do. They seek new houses or those maintained to a high standard so they can move their new furniture in as soon as possible.

That said you are conflating property development with BTL. There have always been builders who buy very cheap property and modernise it to sell. That is not BTL Landlording.

Attacking my attitude is a poor response, I could reciprocate but will not.

Where I live the houses that need a bit of work are being snapped up by portfolio BTL Landlords very quickly by outbidding any FTB who are interested. Time and time this happens. You are wrong that FTB would not be interested in a property that needs a bit of work.

HappyMJ

HENRY78 wrote: »

Where I live the houses that need a bit of work are being snapped up by portfolio BTL Landlords very quickly by outbidding any FTB who are interested. Time and time this happens. You are wrong that FTB would not be interested in a property that needs a bit of work.

It's much harder for a FTB with minimal deposit to buy a renovation project. Not only do they need the deposit on the reduced value of the property but they then need the cash on top to complete the work. That extra cash could be in the form of a personal loan if granted and once the work is complete they may be able to re-mortgage to a lower rate. It might have been a good idea with a 125% mortgage but they no longer exist.