Lanavalentine
VIP Member
I blame Homes Under The Hammer.
House Prices
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I blame Kirsty and Phil, remember when she accused
But the daytime and evening schedule for over a decade has been full of property ramping shite
Lanavalentine
VIP Member
I blame Kirsty and Phil, remember when she accusedsirlordAlan sugar of looking at her tits during the apprentice on twitter then claimed she had been hacked
But the daytime and evening schedule for over a decade has been full of property ramping shite
Yeah, all the property TV shows have a lot to answer for.
It’s like everyone thinking they’re an interior designer now because they’ve slapped on some Farrow & Ball and bought a velvet sofa from Made.com and a berber rug from La Redoute. Got to start a new Instagram account to document it!
Agreed! It's been like the shoeshine boy metaphor for the last 15 years and people patting themselves on the back for being savvy investors as their speculation has paid off due to the money printing and loose lending that's perpetuated the asset bubble.
There was some landlord group spokesperson on the news saying how unfair the short term banning on evictions was as lots of landlords are shop workers on not very much money. Cry me a river, it's not a human right to be a landlord and get guaranteed returns. If you didn't plan for voids and non payment you shouldn't have got into it. Covid or no covid tenants can stop paying and at best takes 6 months to evict so contingency money is a necessity.
So many amateur landlords only could do this because they were born at the right time so could buy property cheap and then remortgage and outbid first time buyers with this unearnt income. It needs to unwind for the good of society.
Boutros-Boutros Ghali
VIP Member
You’ve forgotten the rattan and the plastic plants
New lender Perenna looks to offer 95% lending – Mortgage Strategy
Start-up mortgage lender Perenna has announced that it intends to lend at up to 95 per cent LTV. As well as offering products for first-time buyers it says it will be servicing “later-life borrowers who have few options to remortgage as they enter retirement.” The lender boasts that its...
www.mortgagestrategy.co.uk
What do you guys think of this?
A puff piece, they "intend" to do something long before they've got FCA clearance.What do you guys think of this?
New lender Perenna looks to offer 95% lending – Mortgage Strategy
Start-up mortgage lender Perenna has announced that it intends to lend at up to 95 per cent LTV. As well as offering products for first-time buyers it says it will be servicing “later-life borrowers who have few options to remortgage as they enter retirement.” The lender boasts that its...
It all sounds very wE'Ve gOt aN ApP based on hot air, who wants an app for their mortgage? It changes so infrequently a yearly statement is quite enough.
Back to the economy I do wonder what state it will be in come next spring. I know lots are celebrating not going into the office again and thinking screw pret, but I already know one person in a tech company where they've all been given a 20% pay cut. Once a lot less money is sloshing around these "unaffected" people will very much become affected. It was very apparent not long into covid that the Swedish approach was the best.
What is the future of the south east if people will forever work from home?
Boutros-Boutros Ghali
VIP Member
I read an interesting article the other day (can’t remember where from now) about the future of the square mile. I worked around there for years and loved it but hated it all at the same time. So many businesses are based on having workers in the city. I think people are expecting it to eventually come back to normal but the article mentioned that the government hadn’t taken into account human behaviour as part of the recovery, the fact that people are enjoying not spending 3 hours plus a day travelling to work and spending £20 on a sandwich for lunch....it’ll be difficult to ever go back to what it was there and as you say I think the fall out will take a while to filter through but it’ll definitely be very prevalent in the South East....glad to have got out when we did
Lanavalentine
VIP Member
The Sunday Times has an awful article today about where to invest for BTL, completely ignoring the potential second homes/capital gains tax changes and just making some silly assumptions that the places with highest rental yield the best places to invest.
This has really pissed me off! I loathe the whole culture of investing in multiple properties anyway, but particularly in current times, it just seems incredibly selfish and myopic, attempting to profiteer off other people’s misery and misfortune.
This has really pissed me off! I loathe the whole culture of investing in multiple properties anyway, but particularly in current times, it just seems incredibly selfish and myopic, attempting to profiteer off other people’s misery and misfortune.
Buy to let is the dream for so many, they imagine sitting at home while other people go out all day to work to pay them. A return to landed gentry, just as long as they are the owners and don't need to work. It's ghastly.
This buy to let / gambling on mortgage debt won't last. It's so easy to tax an asset like that and the tax rules have already changed significantly.
I'm surprised that already the government is talking about tax rises and targeting 2nd home owners. That's going to have a downward pressure on house prices. Also it's making furlough less likely to be extended now people are being reminded it has to be paid back.
This buy to let / gambling on mortgage debt won't last. It's so easy to tax an asset like that and the tax rules have already changed significantly.
I'm surprised that already the government is talking about tax rises and targeting 2nd home owners. That's going to have a downward pressure on house prices. Also it's making furlough less likely to be extended now people are being reminded it has to be paid back.
and even a solicitor!We live in the south east and have decided to take a gamble and sold our house (it sold within 5days of being on the market) and have just had an offer accepted on a house. It will be depressing if the housing market collapses and our new house looses value but if this goes through we will be in a much nicer area and beautiful house.
Hopefully we will have nice neighbours and stay there for 10years or so which by then it should have increased in value.
my brother his girlfriend are looking to buy their first property in London and are now waiting it out. My brother has had to take a pay cut as he works in entertainment but his girlfriend is in a stable job earning an average London living wage. It’s so hard to know what to do. I do think it’s all going to slow down soon
Hopefully we will have nice neighbours and stay there for 10years or so which by then it should have increased in value.
my brother his girlfriend are looking to buy their first property in London and are now waiting it out. My brother has had to take a pay cut as he works in entertainment but his girlfriend is in a stable job earning an average London living wage. It’s so hard to know what to do. I do think it’s all going to slow down soon
actuallyeducated
Member
I don’t understand the hate on here for landlords. It’s supply and demand. People need/want to rent, therefore landlords provide this service. With investing people can make money investing in morally questionable companies. Yes people have taken advantage of a situation if they’ve been lucky enough to make money from their house. Don’t be bitter about it. I’m sure you’d be glad if it had happened to you, just, it didn’t.
Isn't that the dream
I honestly don't care about my next house too much, just want neighbours that aren't shits.It's not difficult to get. People have borrowed money to speculate on houses, pushed up the prices and forced other people to rent.
Now they should just be happy that they've been outpriced and by landlords often seen as an underclass? It's nothing to do with supply and demand as it's been a fixed market for many years to ever stop them falling.
I'd have more respect for landlords if they just admitted they want other people to go out all day to pay off their mortgage so they don't have to work. But instead they often pretend as if they're the pillars of society.
People are perfectly entitled to complain about an unfair system and the fast-rising generational inequality. Just labelling them as bitter when there are genuine concerns isn't helping anyone.
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Lanavalentine
VIP Member
Erm yeah, I could very easily become a landlord if I wanted to
It’s not about bitterness. It’s about not contributing further to an already skewed system that makes owning a property incredibly difficult for many people in our society.
Oh I'm sorry I was born in late 90s when the house prices now are not proportionate to people's salaries than in 1980s when they were cheaper and 90-95% LTV mortgages for landlords were easy to get. It's definitely my fault that I'm born at a wrong time when houses are looked upon as investment vehicles and businesses for profit making and not as a home for a little family who works hard.
actuallyeducated
Member
I was also born in the 90’s. But I have worked hard and saved and have now sold my first home looking to buy my second. (On my own I might add with one income) It’s what you make of it. If you were able to do something that would make you money I’m sure you would. It just comes across as very bitter saying that landlords want to not work and have others pay their mortgage - of course, who wouldn’t want that?! I have been a student and rented. Landlords are necessary and it’s a service that wouldn’t be there but for these people able to buy a second property and rent it out to you
Lanavalentine
VIP Member
I was also born in the 90’s. But I have worked hard and saved and have now sold my first home looking to buy my second. (On my own I might add with one income) It’s what you make of it. If you were able to do something that would make you money I’m sure you would. It just comes across as very bitter saying that landlords want to not work and have others pay their mortgage - of course, who wouldn’t want that?! I have been a student and rented. Landlords are necessary and it’s a service that wouldn’t be there but for these people able to buy a second property and rent it out to you
Except that if swathes of people who benefitted from becoming an adult in a time where living costs and mortgages were easily affordable on a basic wage hadn’t decided that property were THE thing to invest in, buying a home would be more affordable for many, and therefore a lot of people wouldn’t need to rent.
By the way, privilege and luck account for most success in life, especially financial success. Where you live is also of the essence. Not many people born in the 90s buying houses where I live. I’m in my mid-30s and will be one of the youngest people on my new street.
Attempting to re-frame greed as an essential service is a bit silly, too. We all know nobody is thinking about the service they provide when they become a landlord.
Mamacita
VIP Member
I think that's pretty rich to imply those who haven't been able to buy didn't work hardI was also born in the 90’s. But I have worked hard and saved and have now sold my first home looking to buy my second. (On my own I might add with one income) It’s what you make of it. If you were able to do something that would make you money I’m sure you would. It just comes across as very bitter saying that landlords want to not work and have others pay their mortgage - of course, who wouldn’t want that?! I have been a student and rented. Landlords are necessary and it’s a service that wouldn’t be there but for these people able to buy a second property and rent it out to you
it's not always what you make of it, lots of people work hard and still can't afford a house. In some places the prices are extremely unaffordable.- Status