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Buy-to-let revival is a curse for new buyers!


Portal11

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Intresting but to the point is this story!

Where i live there is so many houses for sale or to rent i dont think ive ever seen it so bad? just today i went to pick my son up from school and on the way home i noticed another 6 houses had either gone on the market or was for rent, in one street alone near me there is 26 for sale or to let houses it looks terrible as you start to enter the street with all these signs up?

link text

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wee eddie

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I'm not sure that your Title makes sense.

The large number of Properties on the Market should make life easier for a New Buyer, who is able to get a Mortgage, not more difficult.

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wee eddie

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I have read the article and it is the kind of rubbish that caused the Housing Boom in the first place.

It's a cornucopia of figures, ostensibly related, but if fact giving a totally erroneous impression. The only part that is true is that those without sufficient Capital are finding it hard to get the necessary loans.

It was advice such as this that caused many people to invest in 'Properties to Let' when there was no Market for them, in the price range suggested.

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Portal11

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oh well i see, i dont read the papers at all really so thanks for the input guys!

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morddwyd

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"those without sufficient Capital are finding it hard to get the necessary loans."

Which is hardly a new concept!

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ventanas

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Buy to let is a curse, all it did before was to cause freeholders to increase their asking prices, forcing out a great many potential first time buyers, and leaving renatl as their only option, which is far more costly than buying on a mortgage. Of course when prices crashed they lost a lot of money, and in my view it served them right. Now it could start all over again, but rental is not only a curse for potential buyers, but for existing leaseholders as well. Last year I sold my too large house, pending retirement, and put a small percentage of the sale price into purchasing an apartment, one of 40 in a single development. I was the 12th leaseholder at that time. The rest of the apartments are let on shorthold tenancies, and regretably tenants (or many of them) do not have the same degree of care or consideration that leaseholders would have. Why should they, they have no investment in the place. But they seem to have habits of dropping litter when they feel like it, letting their children use the car park as a playground, which I have had stopped, they didn't like it, but the lease forbids it. Also there are numerous washing lines behind the apartments, also forbidden, and are all coming down tomorrow, unbeknown to whoever put them up. They are also all getting a warning letter as to future conduct. In the 9 months I have been in this apartment I have already had to force two evictions due to behaviour issues, and we leaseholders have now got together to put a stop to all excesses by tenants. One has even placed a satellite dish on his balcony and put the cable through the wall. He is about to be faced with the cost of putting things back as they were. The point of this is, that we who buy take care that what we get is what we want. Those who cannot do this are often faced with whatever may come along, never mind how unsuitable, or what the covenants say. This only serves to make those like me antagonisic to them, which is not really desirable. I blame increasingly desperate letting agents, who make no effort to impart the "rules" when granting tenancies, and people who find themselves in an also desperate situation due to the current economic climate. Buy to let will only make things worse.

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Chegs ®™

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I recall a development here of smaller homes beside a council estate with a reputation.Within a few years,these once smart homes were looking tired and now the police visit the smaller development more often than they seem to be at the much larger council estate with the reputation.Is it conceivable that this might be due to the extra stress of buying a home on a low income results in the higher crime rate?I am only able to form this opinion as I live in a town where everyone knows everyone else and I was observing this lifestyle change in the communities as a resident of both estates for a period.I think I have lived on every estate within the town as I once moved home 36 times during the year(I would move home if I ran out of milk as my next home was nearer a late opening shop)and have wondered if there were similar happenings in other towns to reinforce my opinions eg: an area gains a reputation in a short time,worse than the estates elsewhere built around the same time(the small development seems to have residents with a particular attitude,& there are pockets of residents on other estates with a similar attitude where trouble seems above average requiring an increased police presense)or whether its just a regional thing.

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