1 million additional renter's to be made homeless(evicted)?

Yellowsub2000

Flugelhorn said:

Yellowsub2000 said:

We have never really seen much real poverty in the UK. 

I think you may be wrong - there was  a lot of poverty in the UK pre welfare state.

Never as bad as some 3rd world countries here in the UK.

but yes I think we are going back to higher levers if poverty and many families and low income people will have to share houses or live in tiny studio places in cheap places

Yellowsub2000

[Deleted User] said:

Hopefully this will drive prices down so people can buy.

Prices will go down a lot but so will cost of borrowing 


once interest rates go over 6% and back to normal levels property prices will also correct to normal levels where they should be in relation to earnings

Keep_pedalling

Yellowsub2000 said:

Flugelhorn said:

Yellowsub2000 said:

We have never really seen much real poverty in the UK. 

I think you may be wrong - there was  a lot of poverty in the UK pre welfare state.

Never as bad as some 3rd world countries here in the UK.

You obviously know very little history of these isles.

Yellowsub2000

Keep_pedalling said:

Yellowsub2000 said:

Flugelhorn said:

Yellowsub2000 said:

We have never really seen much real poverty in the UK. 

I think you may be wrong - there was  a lot of poverty in the UK pre welfare state.

Never as bad as some 3rd world countries here in the UK.

You obviously know very little history of these isles.

Well I wasn’t going back that far, if you are talking about Roman times?

im talking about our great grandparents times during the wars.

I think we are going back to those times but it will be slightly different hardships.

there will be enough low quality food for the poor so nobody will starve but there will be a lot of people in very very cheap overcrowded housing, still better than being homeless 

Keep_pedalling

Yellowsub2000 said:

Keep_pedalling said:

Yellowsub2000 said:

Flugelhorn said:

Yellowsub2000 said:

We have never really seen much real poverty in the UK. 

I think you may be wrong - there was  a lot of poverty in the UK pre welfare state.

Never as bad as some 3rd world countries here in the UK.

You obviously know very little history of these isles.

Well I wasn’t going back that far, if you are talking about Roman times?

You used the word never so I was thinking at least back to Dickensian times. 

im talking about our great grandparents times during the wars.
I think we are going back to those times but it will be slightly different hardships.

Why didn’t you say then? But you are still wrong we work houses were still in use until 1930 and they were still being used well beyond then in the guise of Public Assistance Institutions and god help you got ill and could not afford a doctor. In 1933 there were over 3,000,000 unemployed. At the outbreak of WW2 there were 100,000 people living in former workhouses 

_Penny_Dreadful

LegallyLandlord said:

It’s all based on assumptions. I’m buying another rental property at the moment as I’m in it for the long haul. If rents go up, that will encourage landlords to stay rather than sell. 

I think there’s been a lot of nonsense said about the Renters Reform Bill. It’s a bit more admin and landlords will need to be choosy with tenants. I already accept pets and families. But I’m essence, it’s a good thing. 

I agree. I have 2 rental properties in England and my others are in Scotland. Even Patrick Harvie MSP’s nonsense hasn’t made me sell up my Scottish properties so the RRB south of the border doesn’t worry me. 

I think it helps that I’m not heavily geared so I can roll with the punches more easily and like you I’m in it for the long haul. I think managing the properties myself also helps as I need to keep myself up to date with the legislation and I know who’s renting my places.  

Yellowsub2000

Yellowsub2000 said:

[Deleted User] said:

Hopefully this will drive prices down so people can buy.

Prices will go down a lot but so will cost of borrowing 


once interest rates go over 6% and back to normal levels property prices will also correct to normal levels where they should be in relation to earnings

6 or 7% is just going back to normal that’s all.


it’s the extreme low interest rates that have been so unusual and why property went up so much more than everything else. Now everything else will go up to match property this is the correction 


Moving homes with Charlie says he predicts average of 10% inflation over next 5 years and average house prices will be about the same as they are now by then. This is a 50% crash in relation to everything else

MultiFuelBurner

LegallyLandlord said:

It’s all based on assumptions. I’m buying another rental property at the moment as I’m in it for the long haul. If rents go up, that will encourage landlords to stay rather than sell. 

I think there’s been a lot of nonsense said about the Renters Reform Bill. It’s a bit more admin and landlords will need to be choosy with tenants. I already accept pets and families. But I’m essence, it’s a good thing. 

I think you are right but from previous posts on this board the reform bill is scaring away a number of single property landlords.

It will be a bit more admin and I agree again we will definitely be more choosey over tenants.

MultiFuelBurner

Sea_Shell said:

Assuming they can find enough buyers (at a price they're happy with) to offload all these unwanted let properties to!

If not, don't we just end up with either empty properties, or a "cooling" market.

Are there enough buyers, with the capital (or lending), to keep the market stable?

I would summise there will be a price point that investors cannot ignore to snap up property. 

Even with the potential 4.5% BTL mortgage vehicle we have been offered if local 2-3 bed properties come on at our "price point" knowing the local market for rents and demand for the last 20+ years we will expand. Even given the upcoming legislation changes.

Yellowsub2000

MultiFuelBurner said:

LegallyLandlord said:

It’s all based on assumptions. I’m buying another rental property at the moment as I’m in it for the long haul. If rents go up, that will encourage landlords to stay rather than sell. 

I think there’s been a lot of nonsense said about the Renters Reform Bill. It’s a bit more admin and landlords will need to be choosy with tenants. I already accept pets and families. But I’m essence, it’s a good thing. 

I think you are right but from previous posts on this board the reform bill is scaring away a number of single property landlords.

It will be a bit more admin and I agree again we will definitely be more choosey over tenants.

It’s a lot more than a bit more admin.

many things are now in the tenants favour, LLs have to pay for the ombudsman while it will be free for the tenants to keep contacting them if they are unhappy about anything.

It’s Avery good thing for tenants who before we’re asking the LL to sort out a problem and they didn’t do anything. From now they will have to go pay for a pest control service or fix things that need it.

otherwise there could be a £25k fine