Buy To Let

Giraffe · Feb 5, 2013

Buy to let is here to stay, and will not crash.

Tenant demand is higher than ever before and average rents reflect this. Even if there was no buy to let there would be no chance for first time buyers to get on the housing ladder as deposits needed are too high.

The reality is that is actually too little buy to let at the moment. Property stock as a percentage of tenant demand for the rental market is lower than it has been for many years. And this in itself is increasing average rents, basic supply and demand. Therefore buy to let should be more encouraged by the government as the more property available, the lower rents will be the more tenants can find homes without government support.

As for agents, some are good , some are bad. My own advice would be landlords and tenants should always chose an ARLA registered agent. Yes they may be that little bit more expensive but you know your money will be safe. There are a huge amount of rogue agents out there who will misappropriate your funds into their own money. An ARLA agent has to have an annual audit of their client fund and all funds are protected by ARLA, so if the agent went bust you would still be able to get your money back. Any agent that isn't ARLA registered is potentially nicking your funds.

Uncle C · Feb 5, 2013

Lokki 7 said:
You sound embittered because you have missed the boat, if so then you have nobody to blame but yourself. I worked hard to get on the property ladder in 2000 and luckily didn't listen to doom sayers like yourself. I bought my first buy to let in 2001 and have bought and sold several properties since both here and abroad. If you work hard and invest sensibly there is no reason why you cannot build a solid return over time. If people chase the illusion of risk free short term gains, or over stretch themselves then they deserve to lose money.

I didn't miss any boat. Thanks for your concern.

Lokki 7 · Feb 5, 2013

Uncle Spielberg said:
First time buyers have had access to 95% mortgages for generations, the latest generation has not and very few have a 20% deposit.

Boo hoo for them. Why in this country should we assume the right to buy our first house whenever we choose regardless of our financial circumstances?

User removed 4 · Feb 5, 2013

Uncle C said:
Well that's your street cred shot to pieces. I will remember in future its not worth wasting my time discussing things with a lowlife city broker. BTW if your so clever why did you ask the dumb question that started this thread. I know 11 year olds that would know the answer.

Hahahah , this from that font of respectability an estate agent :lolol:

, all you are is a wannabe broker thats never made it , yet still tries to look and act the part but fails miserably with your cheap suits and pointy shoes.

PS Notice you didnt try and argue my point about inflation making my debt smaller, just tried to gloss over it with a cheap soundbite.

Lokki 7 · Feb 5, 2013

Uncle C said:
I didn't miss any boat. Thanks for your concern.

Phew!

Lokki 7 · Feb 5, 2013

Uncle C said:
Well that's your street cred shot to pieces. I will remember in future its not worth wasting my time discussing things with a lowlife city broker.

You are way off the mark here Uncle C, bushy never had any street cred.

User removed 4 · Feb 5, 2013

Lokki 7 said:
You are way off the mark here Uncle C, bushy never had any street cred.

I did once , about 1983 i think.

LamieRobertson · Feb 5, 2013

Uncle C said:
Well that's your street cred shot to pieces. I will remember in future its not worth wasting my time discussing things with a lowlife city broker.

BTW if your so clever why did you ask the dumb question that started this thread. I know 11 year olds that would know the answer.

Lol re the last bit I was thinking the same ..the answer is easily googled

Westdene Seagull · Feb 5, 2013

bushy said:
Hahahah , this from that font of respectability an estate agent ,

My God !!!! An estate agent predicted a crash two years ago which never happened ! Kind of tells you everything you need to know about estate agents.

Uncle Spielberg · Feb 5, 2013

Lokki 7 said:
Boo hoo for them. Why in this country should we assume the right to buy our first house whenever we choose regardless of our financial circumstances?

I was explaining in a clear and concise way that you may be able to understand why buy to let is flourishing but it seems to have gone over your head. Never mind.

sully · Feb 5, 2013

Uncle C said:
So sorry. Didn't realise you were a charitable organisation.

What an unbelievably stupid response!

I presume you don't invest any money anywhere, have a pension fund, etc. Just live from hand to mouth, do you? How very modern!!!

Lokki 7 · Feb 5, 2013

Uncle Spielberg said:
I was explaining in a clear and concise way that you may be able to understand why buy to let is flourishing

Oh ok, so when you wrote this;

Uncle Spielberg said:
This is the problem, not buy to let investors who have seen an opportunity to buy and rent to people who are unable to get a mortgage or prefer to rent for flexibility.

Perhaps I have not got my head around this, but it seems to me that your insightful analysis points us in the direction that if people BUY and then LET that property out to other PEOPLE, then they are fuelling the BUY-to-LET market. Have I got that right? Maybe a bit technical for us non-industry simpletons.

Uncle C · Feb 5, 2013

bushy said:
Hahahah , this from that font of respectability an estate agent ,.

Why dont you tell your first brain cell to have a word with the other one and tell it I'm not an Estate Agent.

sydney · Feb 5, 2013

it's amazing how much cool shit from my investment property ends up back at my house.... :moo:

Herr Tubthumper · Feb 5, 2013

Uncle C said:
I think you are working on a business model that was excellent in the 1970's. Most people are in denial and still expect their house price to rise 10% a year. Read the predictions by even those with a vested interest. The market will AT BEST be flat for many years. If it goes down then please come back on here again to boast about your investment prowess.

6% in Brighton and Hove last year.

Herr Tubthumper · Feb 5, 2013

Uncle C said:
BTW if your so clever why did you ask the dumb question that started this thread. I know 11 year olds that would know the answer.

This is of course a good point. The information is freely available on the net. Maybe it's a 'look at me, I can afford two properties.'. HB&B but less direct.

Uncle Spielberg · Feb 5, 2013

Lokki 7 said:
Oh ok, so when you wrote this;

Perhaps I have not got my head around this, but it seems to me that your insightful analysis points us in the direction that if people BUY and then LET that property out to other PEOPLE, then they are fuelling the BUY-to-LET market. Have I got that right? Maybe a bit technical for us non-industry simpletons.

I am not sure how to answer that as made it about as simple as it was possible to be. 1. First time buyers cannot buy , due to lack of mortgages or huge deposits now required 2. Their options are live with parents, which most do now, rent or live in a tent 3. With huge demand from tenants not able to buy or get a mortgage buy to let investors have taken the opportunity to invest in this marketplace

Herr Tubthumper · Feb 5, 2013

With a merging of threads, will you discriminate against male gays in your buy-2-lets Bushy?

Lokki 7 · Feb 5, 2013

Herr Tubthumper said:
6% in Brighton and Hove last year.

Indeed. And recent Land Registry data shows London prices up 8.4% last 12 months.

Herr Tubthumper · Feb 5, 2013

Uncle Spielberg said:
I am not sure how to answer that as made it about as simple as it was possible to be. 1. First time buyers cannot buy , due to lack of mortgages or huge deposits now required 2. Their options are live with parents, which most do now, rent or live in a tent 3. With huge demand from tenants not able to buy or get a mortgage buy to let investors have taken the opportunity to invest in this marketplace

Is it lack of mortgages and huge deposits or the over-inflated price of UK property? I will say the latter. The UK needs some serious flat-lining on property prices.

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