advice please on landlord selling my rented house

Captain_Mainwaring_2

Tori_Bellatrix wrote: »

Shucks ... How do you sleep at night with that weighing heavily on your mind ... :rolleyes: ...

It's tough you know.

It's tough not winning the lottery on demand.

It's tough having to save for things I want.

It's tough paying off those credit card debts without beating for ways to get out of them.

It's tough not looking for some get out clause in a contract where I really do honestly owe the money.

It's tough remembering how it was in the past and not buying property in a false market out of greed.

It's tough you know.

ejh18

Captain_Mainwaring wrote: »

Then you must change your job and get a bigger wage packet.

Sooner you get used to the fact that life isn't fair the better. You think I don't get p155ed off becuase I can only buy a £600K house without a mortgage and not a million pound house - it's tough you know.

That's not fair. For some people, in some professions a hefty increase in salary is just not going to happen. I can only afford somewhere to buy as my OH works in private industry, whereas I work in the public sector, but I could do something else and earn loads more, however I choose not to. That was my choice and I'm happy with it, but if we weren't buying together there would be absolutely nowhere that i could afford to live within a reasonable commute to work, regardless of shared ownership schemes and the like. If my OH didn't earn decent money, say if he did the same job as me, I think we would definately move out of London, as we could not afford to raise a family here. I'm sure others are in exactly this position, but does that mean that they instead choose to be bankers rather than police, teachers, nurses etc? Is that a good thing for their community? Or does it not matter if the most capable people choose not to do these kind of jobs?

I know I seem like I am complaining, but really I am not. I realise that I am lucky and that things don't come easy in this life, and I'm quite happy with my situation. I'm just using my circumstances as an example of how difficult it can be for some. For some people they are fighting a losing battle. It is not a case of wanting a mansion, they just want a home. Full stop.

Snooze

ejh18 wrote: »

You have just contradicted your previous post. You were suggesting people should buy, rather than rent, and that if they do rent they deserve all the !!!! landlords throw at them.

If you open your eyes and actually read what I wrote :rolleyes: you will see that my argument was if you don't want your rented house from being sold from underneath you then buy your own place so that can't happen. I never said anywhere that all people should buy and not rent. :rolleyes:

What do you really think? If we shouldn't be renting, but also shouldn't be buying, where do you suggest people live?! Some people have happy experiences is rented accomodation, but some landlords are unscrupulous and don't meet their legal obligations.

So what? If you don't like the situation do something about it, like move. :rolleyes:

BTW, if you first bought in the 1980's, and sold in the last decade, haven't you already made a mint in equity, regardless of the fact you bought your last home in 2000? Just think yourself lucky

Not "luck" at all. I saw the market was turning and flogged it (along with 2 others) and made a "mint in equity" as you put it. What's wrong? Jealous? Tough. Life isn't fair - get used to it.

and don't make unhelpful suggestions to others without your good fortune.

There's nothing unhelpful about them at all. If people followed the advice then they wouldn't be sat here moaning that they'll never be able to own a house of their own.

Rob

Snooze

scorpio_princess wrote: »

I'm sick of the 'haves' looking down on the 'have nots' declaring that they should be working harder. It is NOT that black and white! If only the ability to buy a house was solely reliant on working hard - we all know it is not.

Of course it is. How else do you expect to afford one? :rolleyes: It's not going to be handed to you on a plate is it?!! :rolleyes:

Of course, working hard and progressing in your career are all good things, and you're heading in the right direction if you can do that, but some people are not so fortunate. You might live in an area with high unemployment

And who's fault is this? Simple solution is to move.

or have a disability which puts you at a disadvantage of progressing in the job market (welcome to my world - and no, it's not an excuse, it's a reality).

Thousands of very successful and wealthy people with disabilities of various forms in the world.

The crazy house price bubble is also compounded if you're a singleton - unless I go out and find the nearest man and say 'you'll do', I don't have a hope in hell of ever owning a home again (I did buy a flat in 2001 with an ex - it all went sour and ended up selling in 2002). How things are at the moment, i'd need to earn 40k a year +

But no-one in their right mind would be buying right now, that is the point. We all know the house prices are vastly inflated above their true values and the only reason they've stayed so high is because people have kept buying them. A house is only worth what someone is willing to pay for it and the late-comer's when common sense was being handed out have now seemingly woken up to this fact hence why the prices are falling cos no-one's buying.

and salaries like that aren't all that common where I live!

Move then. No-one's forcing you to live where you live.

So please, let's stop with the you-youngsters-want-it-all-and-don't-want-to-work-for-it attitude.

In 99% of cases it's true.

Like ejh, I also save what I can, which isn't easy as i'm on a low income

Get a better job. Take night classes to get better qualifications if you have none.

paying a disproportionate amount in rent.

Move.

It's very easy to get demoralised when you see that after a year of saving hard, you only have about a grand saved - oh well, only another 50 years to go before i'll have a decent deposit...:rolleyes:

Same closing reply as my last one - life isn't fair, get used to it.

Rob

Snooze

PasturesNew wrote: »

This is untrue in many areas.
In 2007 many houses went up in price £20-30k.
In 2006 they had already gone up £20+k

If you were saving for a deposit you could never outpace the HPI.

The figures simply never added up.

Even on smaller/cheaper houses it got to the point where they were increasing £6-7k/year.

As said to scorpion princess :

But no-one in their right mind would be buying right now, that is the point. We all know the house prices are vastly inflated above their true values and the only reason they've stayed so high is because people have kept buying them. A house is only worth what someone is willing to pay for it and the late-comer's when common sense was being handed out have now seemingly woken up to this fact hence why the prices are falling cos no-one's buying.

Therefore your argument does not hold water.

Rob

Snooze

PasturesNew wrote: »

You're lucky to have got an affordable LHA house to rent that enabled you to save. It's not available to many people in many areas.

Where I grew up, the list was 20+ years long in the early 80s for a single person. In that town private rents were prohibitively high.

I moved about 10 years ago - and that area too is 4-5 years for a HIGH priority household. Over 20 years (if ever) for single people.

You had your leg up.
That leg up is not available everywhere. Not even back when you had it.

We didn't have a "leg up" at all. My Old Dear only ended up with a place because she was getting knocked around badly at the time and had 2 kids in tow. It was 4 years before she got a place (a real shithole riddled with damp, but it was roof over our heads). I lived at home til I was 26 which was the point when I could afford a room in a shared house with mates for a couple of years before finally having enough saved up for a mortgage deposit, so please don't give me the "you were lucky and had a leg up" whining.

Rob

Snooze

scorpio_princess wrote: »

Sorry, but if you were living in a council house (and paying considerably less in rent than you would have done if you were renting privately, as many of us who can't afford to buy are) then you can't really say that you know what we're talking about! You cannot get a council house for love nor money these days - the only people that get them now are those that cannot or will not work for whatever reason. If you are on a low to moderate income, have no children or disabilities that require you to need a house with adaptations etc, then you won't get any 'points' that would enable you to get housed by the council. Simple as that.

If I was living in a council place and paying £70 a week in rent, I would be able to save a couple of hundred pounds more per month and therefore boost my deposit fund considerably. It ain't going to happen!

I wasn't paying anything in rent to the LHA as I was still living at home. :rolleyes: See reply to PasturesNew.

Rob

ejh18

Snooze wrote: »

If you open your eyes and actually read what I wrote :rolleyes: you will see that my argument was if you don't want your rented house from being sold from underneath you then buy your own place so that can't happen. I never said anywhere that all people should buy and not rent. :rolleyes:

Some people cannot afford to buy anywhere, they are not choosing to rent, they have no choice.

Snooze wrote: »

So what? If you don't like the situation do something about it, like move. :rolleyes:

So everyone who can not afford to buy should be willing to move every six months?

Snooze wrote: »

Not "luck" at all. I saw the market was turning and flogged it (along with 2 others) and made a "mint in equity" as you put it. What's wrong? Jealous? Tough. Life isn't fair - get used to it.

Yes I am a bit jealous, but there you go, I don't begrudge you your profit. You can't deny that most people who bought 20 years ago and held on to their property aren't doing too badly. It wasn't only you. Unfortuantely I was about 10 at the time, so I don't think a bank would have given me a mortgage in order for me to also make a killing. I'm well aware that life is tough, and I'm not complaining as my life is grand:T. But others aren't so lucky, their life IS really tough. That is where some sensible measures in housing policy are needed. If there was more publically owned housing stock, and less speculative investors with BTL's, second homes etc. the situation would be far better. The BTL's that entered the market hoping to gain quickly and then sell up when things get tough have ruined the rental market.

Snooze wrote: »

There's nothing unhelpful about them at all. If people followed the advice then they wouldn't be sat here moaning that they'll never be able to own a house of their own.

Rob

It is unhelpful. Again, some people DO NOT have a choice but to rent. And what advice are you giving them exactly? Save, don't spend, earn more etc. Change the record. What if they are already doing everything they can? Changes in policy are needed, not just advice, as without it the situation is not going to change. Buying is far beyond the reach of so many, but there isn't the social housing to home them. Is the rental sector as it stands really an adequate alternative?

Snooze

ejh18 wrote: »

So everyone who can not afford to buy should be willing to move every six months?

Willing - no. Prepared - yes. The house isn't yours and you're only being allowed to live there for however long the owner dictates. If they decide they don't want you living in their house anymore or they decide to sell then there's nothing you can do about it provided they give you the required notice as agreed in your tenancy agreement. Harsh, yes, but unfortunately it's a fact of life and goes back to the "life isn't fair" thing.

Yes I am a bit jealous, but there you go, I don't begrudge you your profit.

I admire your honesty :T .

That is where some sensible measures in housing policy are needed. If there was more publically owned housing stock

Yes, I won't disagree with that.

and less speculative investors with BTL's, second homes etc. the situation would be far better. The BTL's that entered the market hoping to gain quickly and then sell up when things get tough have ruined the rental market.

Is that your jealousy rearing its head again? Let's be honest, if you'd had the money when the market last boomed are you telling me you wouldn't have done the same? Regardless of ones morals etc, you'd have been foolish to turn down the opportunity to make some fast cash when all you had to do was sit on your property(ies) and flog them all at 50% more in 7 years time. I made a very tidy profit out of it which will nicely cover my retirement; call it 'business sense' if you like.

It is unhelpful. Again, some people DO NOT have a choice but to rent. And what advice are you giving them exactly? Save, don't spend, earn more etc. Change the record. What if they are already doing everything they can? Changes in policy are needed, not just advice, as without it the situation is not going to change. Buying is far beyond the reach of so many, but there isn't the social housing to home them. Is the rental sector as it stands really an adequate alternative?

Give me an example of where someone has no option but to rent.

Rob

kaiser051

thank you for all the advice it was appreciated ,guess i have to learn the hard way i am not planning on renting all my life just a year or two while i save a deposit to go for my own place.i just wanted somewhere to live in the meantime while i saved and i only decorated as i was certain i would be there for a year or two as the landlord made references to her other tenants in her other property that have been renting there for a few years and told me she was happy for me to stay there as long as i wanted which is my fault for being too gullible i guess,i will take the advice on board and look for somewhere else asap and leave her with a empty property for a few months at least that she will have to pay for herself now,thanks again