Sell Your House Now Or Face 80% Falls, what is YOUR prediction?

John_Pierpoint

Now which island would that be?

dopester

IveSeenTheLight wrote: »

Agreed, stupid landlords subsidise the tenants (if this is the case). I've not seen any facts or figures for this, just opinions.

Its stated as fact in so many different online newspapers - Telegraph, Times, Guardian ect... and you read forum articles quite frequently where landlords are in exactly this position.

I take on board what you say here...

IveSeenTheLight wrote: »

BTL / LL's has been arround a lot longer than the last two years. Even those who have bought in the last two years could as I have, have properties which meets the requirements

Therefore it was and possibly still is possible to buy properties in certain area which fall into the requirement of 125% rent to mortgage

... yet I think you are neglecting to take in just how buy-to-let has exploded in popularity these past 4 years as everyone and his aunt has piled in to become property magnates.

Again in today's Independent:

The first signs of a collapse in Britain's buy-to-let property market emerged yesterday as Bradford & Bingley, the UK's largest lender to private landlords, revealed a 50 per cent jump in arrears on its mortgage book over the first four months of the year.

The number of buy-to-let mortgages has more than doubled over the past four years, as thousands of new amateur landlords looked to cash in on the meteoric rise in residential property prices. However, rents failed to keep up with the rise in prices, leaving many landlords committed to monthly mortgage payments which were greater than their regular rental income. As economic conditions have worsened in recent months, and the cost of borrowing has risen, many of these landlords have been left struggling.

Mr Postlethwaite added that many landlords could now see their mortgage rates jump by as much as 2 percentage points as they come to the end of their current deals, putting them under further pressure. "The worry is, if we get a situation where large numbers of private landlords are trying to offload properties at the same time and needing to do it quickly because they cannot afford the new mortgage payments, property prices will fall even further and faster than they are now," he said.

patchwork_cat

OFF TOPIC - re the killing of fulltime baby girls in China - did you not see the documentary 'the dying rooms' in 95?

John_Pierpoint

Thanks for reminding me!
Was this the "foundlings" that had been dumped on the local "parish" and were basically being warehoused and under fed until they eventually "faded away"?
I did see that C4 documentary last year (?) where boy babies were being stolen and sold at a profit for couples to pass off as their own - honour satisfied all round..
I also seemed to remember the spiv trader involved said he could get about 20% of the price for a girl - but by that time perhaps she was nearer the age of having a commercial "marriage" value.

http://en.wikipedia.org/wiki/The_Mayor_of_Casterbridge

Hmmm.

I think we had better create our own thread if we want to take this discussion further?