is it a Crashy wind up ?

Crashy_Time

westernpromise wrote: »

Absolutely correct IMHO.

The fear of negative equity is largely illusory really. At current low rates you pay capital down so quickly that after 5 years you have probably got rid of 15% of the debt. The problem in the 90s was that interest rates were so high, after 5 years you'd got rid of less than 3% of the debt.

https://www.landlordtoday.co.uk/breaking-news/2017/1/number-of-buy-to-let-landlords-struggling-to-pay-mortgages-hits-2-year-high


Many still can`t manage their debt though, if you think that the average person in the UK manages their money and debt like the half dozen or so regular posters here you are dreaming. Any rates movement is going to cause carnage.

westernpromise

Crashy_Time wrote: »

https://www.landlordtoday.co.uk/breaking-news/2017/1/number-of-buy-to-let-landlords-struggling-to-pay-mortgages-hits-2-year-high


Many still can`t manage their debt though, if you think that the average person in the UK manages their money and debt like the half dozen or so regular posters here you are dreaming. Any rates movement is going to cause carnage.

Few BTL landlords seem to have considered regulatory risk at all, hence the outrage about s24. I work in an industry that is constantly being re-regulated; arbitrary, capricious, politically-driven, rationally incoherent regulation is the norm.

The average BTL landlord is probably a bit of a naif. Many look at the headline rent less the mortgage and consider that their profit, resenting any expectation by the tenant that maintenance and upkeep should be properly done. I do it all properly but then my BTL is only about 6% of my income so it's immaterial either way,

Crashy_Time

westernpromise wrote: »

Few BTL landlords seem to have considered regulatory risk at all, hence the outrage about s24. I work in an industry that is constantly being re-regulated; arbitrary, capricious, politically-driven, rationally incoherent regulation is the norm.

The average BTL landlord is probably a bit of a naif. Many look at the headline rent less the mortgage and consider that their profit, resenting any expectation by the tenant that maintenance and upkeep should be properly done. I do it all properly but then my BTL is only about 6% of my income so it's immaterial either way,

My experience is that nearly all of them did the repairs/replacements very promptly, but maybe in London there are enough willing punters looking to rent that they think replacement renters will just turn up when the tenant walks? Can`t see anyone being in business long though if a shower/cooker/boiler etc. wasn`t fixed sharpish.

noddynoo

Jack_Johnson_the_acorn wrote: »

Brilliant bit of anecdotal evidence. I prefer to.use the facts and figures produced by those keeping the records. But each to their own. I'm in my forever home so no, definitely not cashing in.

It's lucky that you know the property market for the whole country. Would have expected you to have bought more properties though tbh.

Your last post from yesterday seemed to indicate that you are currently renting.... What happened to all those properties. I think you may be posting what you want to happen rather what is actually happening.

I also see that you are trying to time the market. Good luck with that......

I sold them at huge profit and banked the cash

Jack_Johnson_the_acorn

noddynoo wrote: »

I sold them at huge profit and banked the cash

And you're now about 7 months further away from being mortgage free. Probably paying more in rent than you would a mortgage and had to pay legal costs associated with selling + the stamp duty when you buy back into the market.... . But best of luck. I personally feel trying to time the housing market is a mugs game. :beer:

noddynoo

noddynoo wrote: »

I sold them at huge profit and banked the cash

They were all bought to sell btw Last one bought for 280 in spring spent 9 on interior only as structurally sound Sold for 375 took 6 weeks I would be lucky to market at 340 now. I am a real advocate of buying a 'home' but working in buying and selling I can see atm only falls or nothing shifting. I am not trying to time anything but by the same token I won't over pay in a falling market(which I think it is but may be wrong which I can swallow)

noddynoo

Jack_Johnson_the_acorn wrote: »

And you're now about 7 months further away from being mortgage free. Probably paying more in rent than you would a mortgage and had to pay legal costs associated with selling + the stamp duty when you buy back into the market.... . But best of luck. I personally feel trying to time the housing market is a mugs game. :beer:

The rent is paid by the profits as thats my earnings!!

noddynoo

Jack_Johnson_the_acorn wrote: »

And you're now about 7 months further away from being mortgage free. Probably paying more in rent than you would a mortgage and had to pay legal costs associated with selling + the stamp duty when you buy back into the market.... . But best of luck. I personally feel trying to time the housing market is a mugs game. :beer:

I haven;t had a mortgage since the 90s

Crashy_Time

noddynoo wrote: »

The rent is paid by the profits as thats my earnings!!

Jack wanted his house to be worth four times what he paid one day, but it will probably be worth less than he paid now that Trump/Brexit/US Rates etc. are all out of the stable. That sticks in his craw so he tries to shut down anyone on here who talks about a falling market. That`s my take anyway.

Jack_Johnson_the_acorn

noddynoo wrote: »

The rent is paid by the profits as thats my earnings!!

Yeah but my mortgage is paid by my earnings.... what kind of statement is that? You're currently renting a property that you live in. What is your point exactly.