First Time Buyers

Marwan2010 · Mar 24, 2009

So we hear that it is even more tougher now for the First Time Buyers.
It is said that Flats are there to sell, but still expensive for FTB

So are you a prospective FTB?
Are you desperate to buy your house?
Are you renting the property?

If Yes to above I suggest the following - create a scenario where all the BTL properties are flooded into the market - YES create a PANIC, real PANIC amongst BIL investors, who mostly have flats.

Once there is more supply the demand prices will crash further. So how can you create excess supply???

STOP RENTING!!!! Move with parents/family etc etc. This will mean empty properties for investors. who will panic and then SELL

What you think??

gedward3 · Mar 24, 2009

Most of the BTL investors will more than likely be linked to the base
rate and you know where the base rate is at the moment. They are
actually probably making money if they have the right morgages
and their flats let out on higher rents.

Ged

shadowninja · Mar 24, 2009

I know someone who's paying about £100pm for two mortgages thanks to Clown.

Marwan2010 · Mar 25, 2009

gedward3 said:
They are actually probably making money if they have the right morgages and their flats let out on higher rents.

Ged

Thats exactly my point all the BTL investors are making money as the rents have not gone down, but the mortgages have gone down substantially.

So look at the scenario where where they are faced with EMPTY properties ( If tenanats vacate them) and they see falling property prices!

PANIC sets in, change of sentiment and they dump the properties

So if you are a tenent, and wants to get on the property ladder, the first thing you can do is to dump the rented property,

I think year 2009 and 2010 will see further decreases in value in housing. It will speed if the BTL investors dump them

gedward3 · Mar 25, 2009

shadowninja said:
I know someone who's paying about £100pm for two mortgages thanks to Clown.

Shadow,

My missus works for a bank and got ours fixed at .56 under base.
We currently pay 8 pence per month and then they take that of our
capital. We should be overpaying now but were getting married in
Vegas this year so alll the money is going on the wedding.

Swings and roundabouts :clap:

Marwan2010 · Mar 25, 2009

gedward3 said:
Shadow,

We currently pay 8 pence per month and then they take that of our
capital. :clap:

f*** Me !!!
8p per month, no wonder the BTL investors are laughing!
cos they will have ridiculous small mortgages

foredog · Mar 25, 2009

gedward3 said:
Shadow,

My missus works for a bank and got ours fixed at .56 under base.
We currently pay 8 pence per month and then they take that of our
capital. We should be overpaying now but were getting married in
Vegas this year so alll the money is going on the wedding.

Swings and roundabouts :clap:

off topic but, if you can afford it try and get one of the private rooms at the top of the stratosphere, amazing place for a reception.

Where are you having the ceremony?

gedward3 · Mar 25, 2009

foredog said:
off topic but, if you can afford it try and get one of the private rooms at the top of the stratosphere, amazing place for a reception.

Where are you having the ceremony?

Do you know what mate the missus is organising everything even my suit.
Told her if she wants to get married im just turning up. She has booked
an Alfresco Restaurant on the 76th Floor or 80th Floor in one of the big
hotels with outside dining.

Marwan2010 · Mar 26, 2009

BBC - Newsbeat - The P Word - Tenants who rent face losing homes

more of this will flood the market with BIL props

abha · Jul 13, 2010

Laeeque Ahmad is a sick and he approached our brokerage with some felicitous deal. We asked him that he do no involve our firm in shady deals like these. Our guess is, stay away from him while buying or selling. His sales pitch may seem too good to be true and it definitely is.

Jason101 · Sep 22, 2010

gedward3 said:
Do you know what mate the missus is organising everything even my suit.
Told her if she wants to get married im just turning up. She has booked
an Alfresco Restaurant on the 76th Floor or 80th Floor in one of the big
hotels with outside dining.

I got married in Vegas 2 years ago, in a helicopter flight above the strip at night.
It was one big party.:drunk:

My BTL mortgage is good at the mo, but it does make up for the losses of that bright idea that housing benefit claimants should "feel empowered by paying for there own rent."
i.e. no more direct payments to the landlord. What a completely SH*%&*T! idea.

The low interest rates are now beginning to yin that yang.

I have a letting agency in Scotland that is now only taking on tenants who sign away to direct payments only.

Jason

Black Swan · Sep 22, 2010

Jason101 said:
I got married in Vegas 2 years ago, in a helicopter flight above the strip at night.
It was one big party.:drunk:

My BTL mortgage is good at the mo, but it does make up for the losses of that bright idea that housing benefit claimants should "feel empowered by paying for there own rent."
i.e. no more direct payments to the landlord. What a completely SH*%&*T! idea.

The low interest rates are now beginning to yin that yang.

I have a letting agency in Scotland that is now only taking on tenants who sign away to direct payments only.

Jason

The biggest mistake BTL dreamers made with BTL mortgages is that 95% of 'em are on interest only...so they're renting from the bank to then rent it out to someone else...doh, breaking even (at best) whilst property starts its big leg down in value and as we're now in Jap style stagflation mode property probably won't increase in value for a generation or more...

Only solution for BTL players is to swtich to repayment and get the debt paid down or gone inside the next 10 years, problem is most BTL muppets havn't got the 30% equity needed to switch...fook 'em, 'kin parasites...

timaru69 · Sep 22, 2010

So much for the credit crunch

We are looking to move to an area closer to our son's school. Viewed a place over the weekend , offered the asking price on Monday, offer accepted on Tuesday , gazumped today (Wednesday)

and not just by a few grand either but 10's thousands

I'm thinking of changing my nick to "Gutted"

Jason101 · Sep 22, 2010

Black Swan said:
The biggest mistake BTL dreamers made with BTL mortgages is that 95% of 'em are on interest only...so they're renting from the bank to then rent it out to someone else...doh, breaking even (at best) whilst property starts its big leg down in value and as we're now in Jap style stagflation mode property probably won't increase in value for a generation or more...

Only solution for BTL players is to swtich to repayment and get the debt paid down or gone inside the next 10 years, problem is most BTL muppets havn't got the 30% equity needed to switch...fook 'em, 'kin parasites...

:-0Not being a muppet or a "kin parasite" I had an all in break even policy, until I could see the top in the market. Then I sold up, put the dosh into my own house and carried on BTL on a purely income strategy.

On this "kin parasite" business - I have never bought a property to let out that I would not want to live in myself! I am doing tenants a favour, by giving them the opportunity not to buy at a time they may believe the market is top heavy. I see myself more as a philanthropist! Almost like a charity worker :innocent:

Atilla · Sep 25, 2010

I told my brother-in-law to buy a one bed flat - real cheap and good value.

Told him his rent is higher than his mortgage would be. Told him that would include his utility bills too.

Said he didn't have deposit. I said I'll give you the deposit with a little help from his parents.

Said he didn't want to take the risk in the down turn. He is still employed and still renting. That was back around 2002.

Horses for courses.

Makes sense to buy than to rent and the people who will be buying up the flats will be the professional BTL investors who look for income/yield with capital growth over the long term as icing on the cake... Especially with latent inflation already in the system.

Marwan - try blinking harder when you make your wish and it may come true. :cheesy:

gedward3 · Sep 26, 2010

Black Swan said:
The biggest mistake BTL dreamers made with BTL mortgages is that 95% of 'em are on interest only...so they're renting from the bank to then rent it out to someone else...doh, breaking even (at best) whilst property starts its big leg down in value and as we're now in Jap style stagflation mode property probably won't increase in value for a generation or more...

Only solution for BTL players is to swtich to repayment and get the debt paid down or gone inside the next 10 years, problem is most BTL muppets havn't got the 30% equity needed to switch...fook 'em, 'kin parasites...

BS

The idea of BTL is to partake in the properties rise in value and always refinance
as the value goes up this way the investor is not liable for the hefty CGT that will
be payable upon sale. Every time the investor refinances they increase their debt
on the property without having to hand over any dosh in CGT to the taxman and release equity.

By repaying the property off all you are effectively doing is setting yourself up for the CGT payment which will eventually come as it probably wont be the investors main residence.

First Time Buyers

Marwan2010

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gedward3

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shadowninja

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Marwan2010

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gedward3

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Marwan2010

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foredog

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gedward3

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Marwan2010

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abha

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Jason101

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Black Swan

timaru69

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Jason101

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Atilla

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gedward3

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