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Puzzling goings on
kunekune
Posts: 1,909 Forumite
This morning, when I did my usual check of new listings in Bingley, Keighley and Shipley, I found a lot. That's unusual, but what is really strange is that most of them had been listed by Jump in Armley (not a local agency). One of the houses has been advertised before by a Bingley agency, but all the others are genuinely new to the market.
Is a major property investor jumping ship? Some of them definitely look like rental properties, either empty or not tidied up for the photos.
I know it's not a big mystery in the scheme of things, but the sudden appearance of an agency that doesn't usually operate here, with a huge portfolio, is a puzzle.
Is a major property investor jumping ship? Some of them definitely look like rental properties, either empty or not tidied up for the photos.
I know it's not a big mystery in the scheme of things, but the sudden appearance of an agency that doesn't usually operate here, with a huge portfolio, is a puzzle.
Mortgage started on 22.5.09 : £129,600
Overpayments to date: £3000
June grocery challenge: 400/600
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Comments
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FWIW, I've been reading about BTL empires and expensive houses being put up for sale recently.
It's just annecdote so I've no idea if it's true.
TBH, if I owned a few houses and had a lot of borrowing, I'd be looking to be a little more cautious and sell one or two to reduce gearing levels to something a bit more manageable.
But then WTFDIK...0 -
A lot of BTLer are looking at negative yields, and were waiting to see if there was anything good for them in the budget. Now they know what will be there many are now jumping ship.
Expect to see a lot more "investment" property come on the market in the next few weeks.
Buy low, sell high. Prices are high, so it's time for all the BTLer to sell.
Anyone want to buy 2 million overpriced flea-pits?Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0
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