|Bristol & London
||EPS - Basic
||Market Cap (m)
Bristol & London Share Discussion Threads
Showing 101 to 122 of 125 messages
|"An acquaintance, who worked in investment banking, spent most of the nineties and noughties taking huge cash advances on 0% credit card deals and maxing-out current account mortgages. He spent the money on deposits for a mini-empire of flats in London, which he runs in a shambolic manner, with many of the later purchases worth considerably less than their interest-only mortgages, which are barely covered, if at all, by rent (e.g. off-plan flats in Docklands). He has also stopped working, living off his payment from his former employer, having taken it to the cleaners as he does the taxpayer, the financial institutions and his tenants.
How have we rewarded this inept, speculative, greedy, economically unproductive behaviour? We've kept interest rates artificially low, to keep people like him and his stupid lenders solvent, and the house price bubble inflated, at the expense of pensioners and the thrifty, who have been robbed blind. People like him should have, and should soon, face realistic interest rates. If some landlords lose their buy-to-let empires and have to sell the properties to working families at realistic prices, I won't be crying.
We also need to end the farce of landlords being able claim tax relief on the mortgage interest from their property portfolio when working families cannot do so on the family home since the abolition of MIRAS. The unfair tax advantage provided to landlords is the main reason for the decline in home ownership in the UK. Property prices have not corrected fully either - our family home is supposedly worth twice what we paid for it at the end of 2000 and only 15% below its value at the absolute height of the madness of crowds. Let's just have proper interest rates and return to sanity."
Bank of England must return interest levels to normal,
hes an educated fellow!
dugganjoe - 15 Aug'11 - 19:18 - 2651 of 2651
u want reliability....Ill give u bum.....Ill give you bum water|
|lol Obviously not a home owner or a BTLer|
|dugganjoe - 07 Aug'11 - 13:03
How does a landlord increase the rent for a regulated tenancy?
you must be a right prat if you have to ask that question!|
How does a landlord increase the rent for a regulated tenancy?|
|They appear to be propped up by the low interest rates. No cataclysmic collapse yet.|
|Wilsons sell buy-to-let empire for £180m
Laura Powell, Daily Mail
12 October 2009
Reader comments (45)
Fergus and Judith Wilson were the unlikely pin-ups of the buy-to-let boom.
Selling up: Judith and Fergus Wilson want £180m for their property empire, but will they get it?
WANT TO KNOW MORE?
Buy-to-let gurus anger village
Wilsons sell after doing the maths
Negative vs positive equity calculator
Ten tips for buy-to-let
It's vital to ensure your property can be a sound investment.
- Buy-to-let test
Now they are selling up with an asking price of £180m for their property empire that is claimed to only hold £45m worth of debt against it.
Foreign investors are rumoured to be interested in the portfolio, but property experts suggest they will want a discount to market value and question whether the Wilsons will reach their target.
Laura Powell meets the Kent property magnates who are confident that now is the best time to sell and finds out how they made their fortune.
Read more: http://www.thisismoney.co.uk/mortgages-and-homes/buy-to-let/article.html?in_article_id=491788&in_page_id=56#ixzz1HnUuY0oB
what happened to them>|
|'Bidding war' for homes to rent
By Nigel Cassidy
Business correspondent, BBC News
Moving house can be comical at times but is often stressful
People looking for houses to rent in many parts of the UK are encountering a new hurdle in their hunt for a home.
Landlords, or more often their letting agents, are increasingly asking would-be tenants to compete by making "sealed bid" offers for the home they want.
|............UK property has much further to fall anyway, so anybody buying for buy to let purposes now is a complete mug.|
|Standard Pricing Package
Max LTV 60%
HSBC Premier Buy to Let Tracker Mortgage
Booking Fee £1499
Bank of England Base Rate + Base Rate + 4.99% for term
Overall cost for Comparison 5.9% APR
Dont look too attractive!|
|If it's condensation you are concerned about, an airbrick is often of minimal benefit and will sometimes make matters worse.
Airborne moisture will condense on whatever is the coldest available surface. An ill-positioned airbrick can contribute to the chilling of the area immediately adjacent. Haphazard attempts to deal with condensation without fully assessing its causes will often merely shift the problem from one corner to another. If you are VERY lucky, a single airbrick might turn out to be all that was needed - but most times it won't. And if the tenant becomes aware of cold air entering, they will likely block it - especially if they also regard it as raising their heating bill.
If you do wish to install an airbrick, be aware that if it's in a cavity wall you need to use an appropriate connection duct between the airbrick in the outer leaf, and the air grille in the inner leaf - and will need to avoid compromising any cavity wall ties or cavity insulation. Externally the airbrick must not be in close proximity to any source of pollutants, such as other extract outlets and flue terminals.
People who are out at work all day will very often switch on the heating for no more than an hour each morning and perhaps 5 hours each evening. That's 25% of each day - which normally isn't enough to heat the fabric of the building before it gets switched off again - and the walls therefore remain below the 'dewpoint' of the moisture in the air. In those situations, condensation is not unexpected, and it's merely a question of where in the home it will happen. Hot air absorbs and carries more moisture - which gets dumped in the cooler rooms or cooler corners.
The greater the contrast the greater the likelihood of condensation. Contrast between air temperature in different rooms; between warm air and cold walls; between day and night heating levels. Eliminating or reducing contrasts is key. But that's not something a landlord can control - it can only be done by the occupants wanting to do it.
Reducing the amount of moisture being added to the air is beneficial of course; hanging washing outside instead of inside; keeping lids on saucepans; avoiding the use of portable gas or paraffin heaters (paraffin produces about a gallon of water for every gallon of fuel used).
There's a whole lot more to condensation. I think I might write a booklet ;o)|
A friend has asked for a bit of advice. He owns a BTL flat and because tenants never to seem to open windows, he is thinking of getting an airbrick installed in the kitchen. Are there any building regs that he should be aware of ?
Anyone here know please|
|any news on new progs?|
|Check out this one-off refurb opportunity coming up for auction early in 2009
|Check out this one-off refurb opportunity coming up for auction early in 2009
|Bank of England Governor Mervyn King discussed the possibility of lowering the U.K. rate to zero for the first time on Nov. 25 and said the biggest challenge he faces is renewing the flow of credit in the economy.|
|Kirstie and Phil self professed property experts make a return to the UK's TV screens with a more muted version of their long standing delusionally bullish UK property candy floss show titled location, location, location that helped feed the get on the property ladder frenzy of the last few years.
Finally, Kirstie has been forced to recognise the fact that house prices can actually fall which follows earlier near religiously opinionated programming that fed on and reinforced the fervour that gripped much of the country as annual house prices roared ahead every month by more than that which people earned in wages, that house prices are a one way bet.
The credit crash is clearly leaving the presenters in an air of frustration that the wood be buyers are in increasing numbers failing to act on their suggestions of buying found properties as people increasingly realise the risks of buying into a crashing UK housing market. Kirstie is still not getting the message that no matter how much you want house prices to rise, you can't talk up the market. But still the impression is that the presenters desperately want the potential buyers to BUY the located properties upon which the programme still hinges, when most are not wanting to once they do the sums away from the glare of the TV cameras, that BUYING does NOT stack up as the analysis of November 2007 showed and concluded that house prices need to rise by more than 2% per annum to beat renting, anything else and buyers lose money.
Whilst Kirstie's now infamous emotional and angry response against anyone that suggested that house prices could fall on ITV's London Tonight 'appears' to have gone. Still both Kirstie and Phil are attempting to talk people into lemming like house buying decisions that they will likely regret as the housing bear market progresses, as in fact the most recent program illustrates which showed that had prospective buyers acted on Kirstie's and Phil's 'suggestion to buy', they would have lost £20k ! Let alone many of those that acted during the programming's boom years that are now probably sitting in negative equity.
Perhaps Channel 4 should have commissioned a show titled Repossession, Repossession, Repossession, so as to revisit those of Kirstie and Phil's clients that are in the process of handing their keys back as they pack their possessions and head off to some rundown council estate. Instead Channel 4 is holding onto an old programming formula that has been tinkered to at the edges for primarily an era that has now GONE ! No longer exists, instead of focusing on the housing bear market.
The return of the property show location,location, location follows Channel 4's other new money series titled the Ascent of Money, unfortunately again Channel 4 have commissioned a series led by an academic called Niall Ferguson, who appears to have little real world experience of actually trading the financial markets but purports to know the answers that led up to the credit collapse and what is likely to transpire. This from someone who apparently stated in late 1999 and early 2000 that Gold was dead as an investment and held no future other than as jewellery, and in fact published a book to the the same effect in 2001 as this was his conclusion after 'studying' over 500 years of monetary history.
It just goes to show the wide difference between academia that basically does not understand what they are talking about as they have never actually gained the experience and insight that comes with actually trading the markets over a number of years by reacting to price movements in real time. Instead academics rely on sanitised historic events without any of the associated experience of actually being immersed in events in real-time which is from which accurate forecasts are generated, rather grandiose theories of what should happen are employed that usually never stand up to a real market environment.
Given the poor quality of mainstream programming, its no wonder than people are waking up to find out that their banks are bankrupt and the housing market has crashed.
As to where house prices are going ?
The most recent house price data released by the Halifax shows that UK house prices have fallen by more than 16% from the peak of August 2007 and October 2008. The crash in both US and UK housing markets over the last 12 months was increasingly followed in September by the bankrupt banks collapsing one by one like a chain of dominos with governments rushing to their rescue during September and early October to the tune of unheard of amounts of tax payers money that now runs to collectively over $3 trillion. This triggered the near panic co-ordinated interest rate cuts in October of 0.5%, which was followed this month by an near unprecedented 1.5% cut.
The whole trend for the house price crash has been forecast well in advance of events, right from the very peak to the initial down-trend path amidst prevailing mainstream denial that house prices were actually falling as recent as of March of this year, and right up to the most recent data that fulfills the original forecast of a 15% fall in average UK house prices as projected in August 2007.|
|thats cool dude, the brits are slackers anyway|
|westcoastrich, at least all the asylum seekers will have council housing and dole money to spend. New labours policy is to look after them before the Brits. Thats why we all voted for them.|
|unemployment could reach three million by Christmas 2009|
|I think you will find that the gready new labour government is to blame. Fat Mp's with obese wallets. Are you ready to be unemployed and poor?|