No Fault Evictions {Merged}

caprikid1

Yellowsub2000 said:

The only way to get inflation under control is raise rates above inflation and inflation is raging over 10%.

Sad to say, your limited youtube economic theories may be interesting but those who are actually putting their necks on the line and lending money are not seeing it that way.

What are today's UK mortgage rates? | 22 May 2023 | Uswitch

5 year rates are lower than 2 year rates, that is not an indication that the smart people think rates are upward trending. Obviously those making sensational youtube videos for wanabee influencer economists may be upset at this reality but these are the facts by the people making the real decisions with real money.

MultiFuelBurner

caprikid1 said:

Yellowsub2000 said:

The only way to get inflation under control is raise rates above inflation and inflation is raging over 10%.

Sad to say, your limited youtube economic theories may be interesting but those who are actually putting their necks on the line and lending money are not seeing it that way.

What are today's UK mortgage rates? | 22 May 2023 | Uswitch

5 year rates are lower than 2 year rates, that is not an indication that the smart people think rates are upward trending. Obviously those making sensational youtube videos for wanabee influencer economists may be upset at this reality but these are the facts by the people making the real decisions with real money.

To add to this there was a mortgage vehicle offered to us by our broker of 4.5% 5 year fix on BTL should we want to increase the portfolio. We have a long history with this broker and the mortgage company behind the curtain.

As you say lenders don't give you below bank rates fixed for 5 years if they believe interest rates will be above what they are lending on average. It suggests the 3% or lower mark in 5 years time.

Yellowsub2000

Banks are in dire straits many more will go bust around the world 

they are desperate 

the debt ceiling in the USA catastrophe will have repercussions around the world.

all they can is print more trillions of units of depreciating currency which makes more inflation and interest rates have to go higher 

Tucosalamanca

Yellowsub2000 said:

Banks are in dire straits many more will go bust around the world 

they are desperate 

the debt ceiling in the USA catastrophe will have repercussions around the world.

all they can is print more trillions of units of depreciating currency which makes more inflation and interest rates have to go higher 

Banks are making a good profit for first time in years. We are in a period of quantitative tightening. Debt ceiling is a non issue.

Try following the newsflow rather than listening to Dave on youtube

Yellowsub2000

Tucosalamanca said:

Yellowsub2000 said:

Banks are in dire straits many more will go bust around the world 

they are desperate 

the debt ceiling in the USA catastrophe will have repercussions around the world.

all they can is print more trillions of units of depreciating currency which makes more inflation and interest rates have to go higher 

Banks are making a good profit for first time in years. We are in a period of quantitative tightening. Debt ceiling is a non issue.

Try following the newsflow rather than listening to Dave on youtube

How can you possibly say the debt ceiling is anon issue?

You think they won’t hit it they will cut spending?

Or do you think they will come to an agreement to raise it again and you think this is completely sustainable 🤣🤣🤣🤣

CurlySue2017

caprikid1 said:

CurlySue2017 said:

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

But you cannot possibly know that for sure.  Or if you do know that for sure, I would love to know how you know that.

"How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? "

Ridiculous amounts in rent = Supply Shortage

More legislation restricting landlords will increase supply ? I'd love to know how you think that will happen.

We are already seeing the boards suggesting to potential new landlords don't bother, I had a conversation with a landlord last night "Can't get the figures to work".

No I don't know for sure but I have followed the property market for over 30 years and never called it wrong yet. But if you can tell me how it will have no effect on supply I am open to having it explained.

I would love to know where I said that will happen?

Yellowsub2000

Yellowsub2000 said:

Tucosalamanca said:

Yellowsub2000 said:

Banks are in dire straits many more will go bust around the world 

they are desperate 

the debt ceiling in the USA catastrophe will have repercussions around the world.

all they can is print more trillions of units of depreciating currency which makes more inflation and interest rates have to go higher 

Banks are making a good profit for first time in years. We are in a period of quantitative tightening. Debt ceiling is a non issue.

Try following the newsflow rather than listening to Dave on youtube

How can you possibly say the debt ceiling is anon issue?

You think they won’t hit it they will cut spending?

Or do you think they will come to an agreement to raise it again and you think this is completely sustainable 🤣🤣🤣🤣

Well we are 9 days away from USA default or mega high money printing which means even more inflation and higher interest rates around the world

my guess is the latter but maybe they really will default 

Sarah1Mitty2

CurlySue2017 said:

Tucosalamanca said:

CurlySue2017 said:

Tucosalamanca said:

I recently visited Sheffield for a University open day. Part of my research was looking at property to rent/buy.
Coming from SW England, I was amazed at how cheap properties seem to be.

Looking on Rightmove this morning, houses for sale within 40miles of Sheffield (chosen as it's reasonably central and encompasses many towns) up to £100k. There are approx 1,000 properties available, 500 or so at up to £80k

Minimum wage is now £10.42ph or £20,319pa based on a 37.5hr week.

With an £8,000 deposit, a minimum wage worker can buy a two bedroom house for £80,000, with mortgage repayments around £428 per month.

A young couple, both on minimum wage will be earning over £40k per year. That two bed home is a mere 2 x combined salary.
They can comfortably buy a far better home and they're just minimum wage workers.

And some people think there's a crash coming??? Looks like plenty of scope for further price increases to me...

This is the problem.

How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? 

That would take me years and of course by the time I have reached the magic target figure, it would be worth much less and the saving would have to start all over again.  And so it goes on.

Without wanting to get personal, my kids have saved more than £8,000 just from two years part time working in preparation for Uni.

I'm employing 18yr olds who are driving around in 10k cars and paying £2,500 in insurance for the privilige!

I have a 20yr old niece who's doing care work and lots of overtime. She's living in an HMO (£700 per month), running a car and still managing to save hundreds every month.

It's not a problem for everyone.

That's great, are your kids paying full rent on their own places also?  And paying all the bills that come along with that?

Do any of them have dependants?  Do they care for anyone vulnerable?

It may not be a problem for everyone, but I suspect it is a big stumbling block for a lot of people who don't have such straight forward circumstances

And as there is no link to the mortgage deal we could assume that it won`t be around long as mortgage rates rise, maybe FTB are biding their time until interest rates do their job of bringing down prices?

Sarah1Mitty2

caprikid1 said:

CurlySue2017 said:

caprikid1 said:

"Any decent landlord will have no problem with these new rules because they are not the ones who use a Section 21 as a weapon.  The ones who are getting all upset about it, well, that tells me what I need to know"

The problem is that it won't have a positive effect on supply and we already have a shortage.

But you cannot possibly know that for sure.  Or if you do know that for sure, I would love to know how you know that.

"How is someone paying out ridiculous amounts in rent and also other spiralling bills supposed to save £8000? "

Ridiculous amounts in rent = Supply Shortage

More legislation restricting landlords will increase supply ? I'd love to know how you think that will happen.

We are already seeing the boards suggesting to potential new landlords don't bother, I had a conversation with a landlord last night "Can't get the figures to work".

No I don't know for sure but I have followed the property market for over 30 years and never called it wrong yet. But if you can tell me how it will have no effect on supply I am open to having it explained.

Are you asking why it will increase supply, or why it will have no effect on supply?

Sarah1Mitty2

Tucosalamanca said:

Yellowsub2000 said:

Mortgage rates could be double digits by 2025.

many are agreeing here is just one example 

https://youtu.be/8BnZvz1bRoM

I pray that you're correct. It'll bring my retirement several years forward.

Sadly, there is absolutely no indication that this is going to happen.

The consensus is that now is a good time to secure fixed term incomes (as rates are likely to fall in the medium term), you're suggesting that returns could double within the next two years. That's quite a prediction!

How will it do that?