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'Social Housing' .. and Rip Off Landlords
Comments
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So... how does this play out?
Whats coming next?
(Genuine questions)0 -
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.4 -
Politicians and Central Bankers getting spooked by falling house prices and responding by massively increasing the money supply and cutting interest rates. The consequences for inflation and the currency will be catastrophic.Siv_in_Norfolk said:So... how does this play out?
Whats coming next?
(Genuine questions)0 -
I understand why you would feel no sympathy for landlords however its the tenants who will feel this too. Landlords lose an asset, tenants probably lose their homekentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.5 -
I think many people will mind due to the adverse it will have on the housing market and rents increasing further. Might be good if you are looking to buy and prices continue to fallkentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.0 -
surely if these greedy landlords all go to the wall and the rental market shrinks then the property market will be flooded and prices go down and the renters can buy?8
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If the small landlords get squeezed out the places they sell will go to whoever pays most. Councils are buying back right to buy flats at a massive loss because it's still cheaper than using B&B. Overseas investors will buy as a safe place to park their money and may not even rent them out1
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what greedy landlords? Are all landlords the same? What about those who can't afford/are unable to buy, notably with the time of low interest rates over for now?Greenhithe said:surely if these greedy landlords all go to the wall and the rental market shrinks then the property market will be flooded and prices go down and the renters can buy?
Agreed rananegra about overseas investers0 -
shhhhh supply and demand only affects renters not landlords.Greenhithe said:surely if these greedy landlords all go to the wall and the rental market shrinks then the property market will be flooded and prices go down and the renters can buy?1 -
no one is a landlord simply through the goodness of their hearts.PrincessFiona said:
what greedy landlords? Are all landlords the same? What about those who can't afford/are unable to buy, notably with the time of low interest rates over for now?Greenhithe said:surely if these greedy landlords all go to the wall and the rental market shrinks then the property market will be flooded and prices go down and the renters can buy?
Agreed rananegra about overseas investers9 -
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Yep.Greenhithe said:surely if these greedy landlords all go to the wall and the rental market shrinks then the property market will be flooded and prices go down and the renters can buy?
I'm hoping for a 25% crash in the next 2 years.
Will then buy a 2nd property and rent it out.7 -
leveraging yourself to your eyeballs to make an investment expecting it to only go up, what could go wrong?2
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Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
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I personally don't see a problem with buying a second property outright and then letting it out at a fair price.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.14 -
Ah, so not doing something out of the goodness of their hearts means you are greedy, nothing in between?! Actually there are landlords through the goodness of their hearts, a minority, but not 'no one'kentaddick said:
no one is a landlord simply through the goodness of their hearts.PrincessFiona said:
what greedy landlords? Are all landlords the same? What about those who can't afford/are unable to buy, notably with the time of low interest rates over for now?Greenhithe said:surely if these greedy landlords all go to the wall and the rental market shrinks then the property market will be flooded and prices go down and the renters can buy?
Agreed rananegra about overseas investers1 -
Because ALL landlords are greedy - not!clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.1 -
This fair price, should it work both ways?Manic_mania said:
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
Should Shine offer his Landlord the extra 25% a month?2 -
I'm not sure what you mean. If you own the second property outright then there would be no extra 25%clb74 said:
This fair price, should it work both ways?Manic_mania said:
I personally don't see a problem with buying a second property outright and then letting it out at a fair price.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
I do have an issue with taking out a mortgage and expecting tenants to pay for it.
Should Shine offer his Landlord the extra 25% a month?
I don't agree with people who already own a home taking out a mortgage on a second property and expecting their tenant to pay that mortgage off.
Either buy the place outright, then rent it out or if you can't afford to buy it then don't.2 -
For 95% of landlords they should have gone into it with their eyes wide open and understand the potential pitfalls. However some of the changes over the past 10 years have moved the goal posts considerably, tax and EPC requirements to name a couple.kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
But pretty much for every BTL (aside from air&b and holiday lets) it is also someones home. Even if prices dropped 25% (which I don't think they will go that far) for the vast majority of renters that won't mean they can now afford to buy the property they are living in. There will be a huge swathe of people suddenly homeless. When banks repossess even if they sell relatively quickly and to a BTL landlord that's an empty property for many many months usually.
Whilst you may not like the 'landlord' for whatever reason, I'd have thought you would have understood the knock on effect to those renting who cannot afford to buy even if house prices reduce.
It's something I'm struggling with at the moment, with over 50 properties (I might add I do not own them, it is the friendly society branch I am a trustee of) it is highly likely we will look to sell the majority or even all of them, some of our tenants have been in the houses literally for decades and I really don't want to take away their homes, but as it stands unless we follow the market rent levels (which for most of our tenants would be unaffordable) I'm left with little choice.3 -
It's an investment, and like all investments they can go tits up if you don't manage your risk. You can't expect the value to always go up.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
press x to doubtRob7Lee said:
There will be a huge swathe of people suddenly homeless.kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
Oh no, you're going to be forced to liquidate millions of £ in assets..! As i said, oh dear, nevermind.Rob7Lee said:kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
It's something I'm struggling with at the moment, with over 50 properties (I might add I do not own them, it is the friendly society branch I am a trustee of) it is highly likely we will look to sell the majority or even all of them, some of our tenants have been in the houses literally for decades and I really don't want to take away their homes, but as it stands unless we follow the market rent levels (which for most of our tenants would be unaffordable) I'm left with little choice.0 -
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Not for the reasons you think, they are owned outright (the society built 90% of them over 100 years ago) so it's not an affordability issue at all, aside from any capital gain we net between 250- 300k a year. But not sure why you have so little sympathy for people who will lose their homes.kentaddick said:
It's an investment, and like all investments they can go tits up if you don't manage your risk. You can't expect the value to always go up.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
press x to doubtRob7Lee said:
There will be a huge swathe of people suddenly homeless.kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
Oh no, you're going to be forced to liquidate millions of £ in assets..! As i said, oh dear, nevermind.Rob7Lee said:kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
It's something I'm struggling with at the moment, with over 50 properties (I might add I do not own them, it is the friendly society branch I am a trustee of) it is highly likely we will look to sell the majority or even all of them, some of our tenants have been in the houses literally for decades and I really don't want to take away their homes, but as it stands unless we follow the market rent levels (which for most of our tenants would be unaffordable) I'm left with little choice.6 -
Shame mate that was your only takeaway from that you felt worth highlighting.Algarveaddick said:
Despite everything you have just written, you are still suggesting that the Tories are better than a potential new Labour government?soapy_jones said:My ex wife and youngest daughter (33yrs old) share a modest 2 bed semi detached down in Medway. They both work bloody hard on minimum wage zero hours contracts, they pay £750pm rent and struggle to make that most months, they live hand to mouth basically. They have been settled there for 5-6 years, made it a home and never complained when things go wrong with it, it's about 20ish years old. Two months ago, the landlords, a pleasant enough couple announced they were selling, the girls had to be out by December (Meherry Christmas everybody). Without the means for an exhorbitant deposit for anywhere else, IF such a place could be found, they are moving in with another daughter and her family.
At the time, I imagined that everyone is getting shafted here, except the bank as is usual. The girls of course, shafted, the landlords probably seeing their mortgage payments explode, shafted. At the time I was sceptical that the house would sell quickly, standard as it is, they are building hundreds like it in and around Medway.
So, it has come to pass that today, I found out that, the landlords has said, "No, you can stay, but the rent will be £1450pm!!!!". Obviously no-one is biting their hand off and they are getting butt fucked by the mortgage payments.
This is the UK in 2023. I am not a political person, I am a contrarian by nature, hence my snipes back at the obvious Red Wedge tinge on CL, nothing personal chaps. As I sit here in my rented flat, I am a sitting duck. This could be me.
They say you get more Tory as you get older but I do not trust any promises from any government of any colour, especially the stinkers lining up to oust the shower currently floundering in power.
Not sure if I have a point here. Just a commentary on two decent hard working people, landlords getting shafted both ways and the banks, always in charge, always winning.
Unbeliveable Jeff.
Nothing personal.I read a really depressing, sobering tale of a reality example of how spiralled events have impacted a section of society, and how some people have completely lost faith with the political spectrum across the board in this country. They won’t be alone with that.
So sorry your family is being so impacted Soapy and really hope things work out ok for them.3 -
I just think anyone that does next to fuck all and just sits wanting others to make them rich is greedy. End of.4
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when did i show no sympathy? I just don't believe you when you say a "huge swathe of people suddenly homeless". If the worst that will happen is people have to sell their assets they can't afford my heart bleeds for them, it really does. I just don't know where this self entitled "I should get something for nothing" comes from. If landlords weren't simply in it for greed, they'd bust a gut not to evict their tenants. Quite simple really.Rob7Lee said:
Not for the reasons you think, they are owned outright (the society built 90% of them over 100 years ago) so it's not an affordability issue at all, aside from any capital gain we net between 250- 300k a year. But not sure why you have so little sympathy for people who will lose their homes.kentaddick said:
It's an investment, and like all investments they can go tits up if you don't manage your risk. You can't expect the value to always go up.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
press x to doubtRob7Lee said:
There will be a huge swathe of people suddenly homeless.kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
Oh no, you're going to be forced to liquidate millions of £ in assets..! As i said, oh dear, nevermind.Rob7Lee said:kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
It's something I'm struggling with at the moment, with over 50 properties (I might add I do not own them, it is the friendly society branch I am a trustee of) it is highly likely we will look to sell the majority or even all of them, some of our tenants have been in the houses literally for decades and I really don't want to take away their homes, but as it stands unless we follow the market rent levels (which for most of our tenants would be unaffordable) I'm left with little choice.
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Who is expecting to get something for nothing ?2
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You are selectively commenting as to suit your agenda. If Landlords have to sell/get repossessed what do you think happens to the tenant in that property? You may not care about the landlord, but I would have thought you'd have a little sympathy for the tenants effected.kentaddick said:
when did i show no sympathy? I just don't believe you when you say a "huge swathe of people suddenly homeless". If the worst that will happen is people have to sell their assets they can't afford my heart bleeds for them, it really does. I just don't know where this self entitled "I should get something for nothing" comes from. If landlords weren't simply in it for greed, they'd bust a gut not to evict their tenants. Quite simple really.Rob7Lee said:
Not for the reasons you think, they are owned outright (the society built 90% of them over 100 years ago) so it's not an affordability issue at all, aside from any capital gain we net between 250- 300k a year. But not sure why you have so little sympathy for people who will lose their homes.kentaddick said:
It's an investment, and like all investments they can go tits up if you don't manage your risk. You can't expect the value to always go up.clb74 said:Seriously.
What's the matter with some people?
I'm 49 with no pension.
So if I decided in the next couple of years to buy a 2nd property as a pension, some would be happy to see it go tits up for me.
press x to doubtRob7Lee said:
There will be a huge swathe of people suddenly homeless.kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
Oh no, you're going to be forced to liquidate millions of £ in assets..! As i said, oh dear, nevermind.Rob7Lee said:kentaddick said:
Oh dear, nevermind.Rob7Lee said:Article in the Telegraph today, Landlord mortgage arrears up from £4m to £13m over the past year.
The storm is well and truly coming. No wonder so many BTL landlords are selling.
It's something I'm struggling with at the moment, with over 50 properties (I might add I do not own them, it is the friendly society branch I am a trustee of) it is highly likely we will look to sell the majority or even all of them, some of our tenants have been in the houses literally for decades and I really don't want to take away their homes, but as it stands unless we follow the market rent levels (which for most of our tenants would be unaffordable) I'm left with little choice.
I'm not entirely sure where something for nothing comes from, it's been a long long time since you could buy a BTL with no money. If I put some money in the bank (or pick A N Other investment) am I asking the bank for 'something for nothing'? Or is it a return on investment?
I believe from your previous postings you rent don't you? Assume you'll be partying the night away if your landlord (or his/her bank) ends your tenancy so to sell/repossess?1 -
And don't get me started on those bloody farmers, planting extra crops that they don't eat themselves, and expecting other people to pay for it.11
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why do people become landlords? Out of the goodness of their hearts?MrOneLung said:Who is expecting to get something for nothing ?0 -
ROI,kentaddick said:
why do people become landlords? Out of the goodness of their hearts?MrOneLung said:Who is expecting to get something for nothing ?
https://letmegooglethat.com/?q=ROI2
