House prices rose 7.3% this year, average now almost £250k

[dowie]

So what? She borrowed money to make an investment and it didn't pay off, so she has to dig in and pay it back or declare bankruptcy.

This is exactly what she signed up for when she bought an investment on leverage. What do you think would happen if you borrow money to buy stocks and they go down?

I'm not sure what point you're trying to make here that hasn't already been made in the post you're quoted? What are you saying "so what" in response to? If stocks go down you lose money... what do you think happens?

She doesn't necessarily have to declare bankruptcy yet - the point was re: selling the house at the current time might not change much w.r.t. bankrupcy.

 

[Psycho Sonny]

So what? She borrowed money to make an investment and it didn't pay off, so she has to dig in and pay it back or declare bankruptcy.

This is exactly what she signed up for when she bought an investment on leverage. What do you think would happen if you borrow money to buy stocks and they go down?

She is being forced to keep the property though as she cannot evict the tenants which are refusing to pay rent.

That's the problem here. Dodgy tenants.

 

[HACO]

I'm not sure what point you're trying to make here that hasn't already been made in the post you're quoted? What are you saying "so what" in response to? If stocks go down you lose money... what do you think happens?

She doesn't necessarily have to declare bankruptcy yet - the point was re: selling the house at the current time might not change much w.r.t. bankrupcy.

My point was, people shouldn't be concerned that it's bad or difficult for her to get out of this situation, in the same way that we're not concerned when people took other gambles that don't pay off. If she can't afford the payments then she will need to sell the property at wherever value she can and if she goes into negative equity then so be it. She's not a victim.

 

[dowie]

My point was, people shouldn't be concerned that it's bad or difficult for her to get out of this situation, in the same way that we're not concerned when people took other gambles that don't pay off. If she can't afford the payments then she will need to sell the property at wherever value she can and if she goes into negative equity then so be it. She's not a victim.

Where did anyone argue that she was? What argument/point do you think you're replying to?

 

[HACO]

Where did anyone argue that she was? What argument/point do you think you're replying to?

Clearly BBC thought so, and someone on this very page did that too. Not sure why you're taking this personally.

 

[HACO]

She is being forced to keep the property though as she cannot evict the tenants which are refusing to pay rent.

That's the problem here. Dodgy tenants.

She can sell the property at its current market rate, given its current condition (which includes a tenant that doesn't pay rent). She's not forced to keep it any more than someone who bought stocks before they tanked are forced to keep them because they company stops paying dividend.

The problem is the entitlement of the landlord class who believe they deserve to have risk-free profits.

 

[dowie]

Clearly BBC thought so, and someone on this very page did that too. Not sure why you're taking this personally.

I'm not, I just fail to see the relevance to the quote or the questions directed at me given what I actually posted... thus questioning what you think you're querying in that post as opposed to the actual article itself.

 

[HACO]

I'm not, I just fail to see the relevance to the quote or the questions directed at me given what I actually posted... thus questioning what you think you're querying in that post as opposed to the actual article itself.

I was just adding to what you said, rather than directing anything towards you. Sorry for the confusion.

 

[413x]

Given most tenants are paying more than most mortgages on compariable properties, you'd probably find the monthly cost of a mortgage/additional taxation is not so much of a barrier as having to find ridiculous multiples of your salary as an initial deposit.

It's exactly that.

Mortgage is 800ppm

But I needed a big deposit.
It also maxed out the value the bank would lend.

They even questioned my living costs.
Because I have one 25ppm debt and only a netflix subscription (not even TV licence) and absolutely nothing on finance.

Despite that I do kind of agree with the cap they have now. Because obviously interest rates are volatile

 

[Colonel_Klinck]

Personally I'd like to see an end to people buying up properties to rent out. All it does is push up property values in areas that are already short of housing. Our housing market is out of control. I pity young people now in the south east or any area of affluence. Good luck getting on the housing ladder unless you earn 6 figures or your parents are in a position to back you with a mega deposit. It can't continue like this but no government has had the balls to tackle it.

 

[Psycho Sonny]

She can sell the property at its current market rate, given its current condition (which includes a tenant that doesn't pay rent). She's not forced to keep it any more than someone who bought stocks before they tanked are forced to keep them because they company stops paying dividend.

The problem is the entitlement of the landlord class who believe they deserve to have risk-free profits.

Can't argue with stupid.

This is nothing like selling stocks that stopped paying a dividend.

It's got nothing to do with risk free investment either.

She cannot start proceedings to evict them which is going to cause her further financial damage if it weren't for the fact that the tenants rights are being overly protected by the government.

Reason being they would need to pick up the tab otherwise.

So the government are doing exactly what you want screwing over landlords to help tenants and their own budget.

Must be a joyous occasion for you. Must have had to change your underwear several times already today.

 

[PureAppleJuice]

So what? She borrowed money to make an investment and it didn't pay off, so she has to dig in and pay it back or declare bankruptcy.

This is exactly what she signed up for when she bought an investment on leverage. What do you think would happen if you borrow money to buy stocks and they go down?

Haha quite. Landlords seem to be the one group of people who expect stonks, and fail to acknowledge that their investment can decrease in value.

 

[Simon]

Can’t really sell it to someone who wants to live in it if it’s got a tenant in though !

 

[HACO]

Can't argue with stupid.

This is nothing like selling stocks that stopped paying a dividend.

It's got nothing to do with risk free investment either.

She cannot start proceedings to evict them which is going to cause her further financial damage if it weren't for the fact that the tenants rights are being overly protected by the government.

Reason being they would need to pick up the tab otherwise.

So the government are doing exactly what you want screwing over landlords to help tenants and their own budget.

Tenants rights are some of the worst in the UK compared to other European countries. The fact that you believe landlords are the victims shows how out of touch you are.

If you're a landlord sometimes tenants don't pay rent. Deal with it. Funny you want a helping hand from the government to fix your problems. Good old "socialism for me, capitalism for thee".

Must be a joyous occasion for you. Must have had to change your underwear several times already today.

What's with you and your obsession with these insults Are you 14?

 

[Psycho Sonny]

Can’t really sell it to someone who wants to live in it if it’s got a tenant in though !

He's saying that she can and technically she can but whoever buy it is going to factor in the potential damage that tenant will cause. They aren't paying rent so they have no reason not to strip the place and sell everything before they are evicted.

They also have to factor in not being given rent for several years. Then factor in all the legal and eviction costs.

So she will get an offer of £75k less than what it's worth.

The other side is she should be able to evict them because the tenant isn't paying rent but haco doesn't care about this. He's saying that is her problem. Well it's not these new protective measures were put in recently and fast without any time to prepare for them. It's obvious that tenants wouldn't be able to pay if they lost income.

You cannot say it's fair to hold a gun to landlords heads like this.

The government should be covering the rent or allowing evictions one or the other. No way should they be forcing landlords to keep non paying tenants.

That's essentially making landlords into charities.

 

[Psycho Sonny]

Tenants rights are some of the worst in the UK compared to other European countries. The fact that you believe landlords are the victims shows how out of touch you are.

If you're a landlord sometimes tenants don't pay rent. Deal with it. Funny you want a helping hand from the government to fix your problems. Good old "socialism for me, capitalism for thee".



What's with you and your obsession with these insults Are you 14?

Yeah we normally would deal with it.

By evicting them.

Problem is that cannot be done.

So how do you propose they deal with it?

 

[HACO]

Yeah we normally would deal with it.

By evicting them.

Problem is that cannot be done.

So how do you propose they deal with it?

You deal with it like any other business deals with changes in regulations. Sometimes they're not in your favour and you have to adapt. If you can't, you go out of business. Simple as that.

The government should be covering the rent

Hahahahahaha. Welfare for landlords? Government guaranteeing you receive rent?

 

[Psycho Sonny]

You deal with it like any other business deals with changes in regulations. Sometimes they're not in your favour and you have to adapt. If you can't, you go out of business. Simple as that.



Hahahahahaha. Welfare for landlords? Government guaranteeing you receive rent?

They are already covering wages and furlough.

What's so funny?

They should not be saying okay we will help these people under this circumstance bit not these.

If you want to prevent eviction then cover the rent.

Or let landlords evict and don't pay the rent.

You can't have it both ways. Which is the current situation.

If you cannot understand that then that's why like above you are being treated like a 14 year old who cannot see anything from anyone elses point of view but their own.

How's your house search going? Now we know that it's your own interests that you really care about rather than future generations.

Don't cover the rent then let them evict simple as that.

 

[Scam]

You cannot say it's fair to hold a gun to landlords heads like this.

But it's fair to hold a gun to her tenants heads by threatening to evict them? Oh sorry I forgot tenants are second class citizens in this country right How is it fair that homeowners can get mortgage holidays, income protection etc from their bank yet tenants are being made homeless within two months notice?

More importantly, I finally watched the video and where does it say she even has tenants in? I took it to mean she doesn't have any tenants in the property right now, so she'd be free to sell or whatever.

Also, last point. If you own a property and you're made jobless, you can claim benefits immediately. On the other hand if you're a tenant who has been sensibly saving up for a rainy day and have more than £16k in the bank, the government will tell you to GTFO of the claims office and you'll be entitled to nothing. Another example of tenants getting screwed at all economic levels in this country.

 

[Surveyor]

Also, last point. If you own a property and you're made jobless, you can claim benefits immediately. On the other hand if you're a tenant who has been sensibly saving up for a rainy day and have more than £16k in the bank, the government will tell you to GTFO of the claims office and you'll be entitled to nothing. Another example of tenants getting screwed at all economic levels in this country.

You're saying home owners are exempt from means-testing?