i think he thinks its a good thing for "real" owners
Mortgage Rate Rises
- Thread starter glenimp617
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Soldato
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Are you being sarcastic when you say lovely?
As what you posted about btl is a good thing for anyone wanting to join the property ladder.
House prices are higher in part because of btl
People live in BTL properties you know? The Angst directed at BTL landlords is once again a classic example of othering from our governments. The issue in this country is a huge shortage of housing both to rent and buy so of course the market is broken rents are obscene, house prices inflated to a ridiculous level etc etc but the solution isn't punishing BTL landlords as that in reality jus punishes renters by further reducing supply and pushing up rents the answer is and always has been simple ..... BUILD MORE HOUSES this boost availability and brings down both prices and rents.what to be a btl? suckspeople need roof over their heads not more BTL properties.
all BTL's do is increase rent, demand and prices. We'll have generation rent soon and we'll end up with people getting to retirement with no roof over their head. That is the problem. Many landlords with massive portfolios are exploiting the market and creating demand.
More BTL = higher rent?!?! have you even thought about this? Lots of people need to rent and there is a huge shortage that is why rents are high you seem to have a simple misunderstanding of how a market works.
If I had the luxury of not buying then I would. But it means looking for a new place to rent in London (not cheap) and I have a complex job situation that probably wouldn't allow me to get another mortgage offer.
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Similar to my sister.
If she misses her current offer it's probably off cards thus can't negotiate.
Different circumstances, same outcome.
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My mortgage is due to mature end of March next year and I mentioned before, they have offered 4.1% to renew with them for 2 years.
I've since spoken to a broker and also the current provider. It seems this is the best rate around at the moment. The current provider has said you can cancel at any time before the switch should the rate improve and also, you can make unlimited over payments in the last month of the current product.
Might help someone!
I've since spoken to a broker and also the current provider. It seems this is the best rate around at the moment. The current provider has said you can cancel at any time before the switch should the rate improve and also, you can make unlimited over payments in the last month of the current product.
Might help someone!
When housing is a very good way to make a very large amount of money by renting then yes, BTL landlords are sucking up the available housing, driving prices up even more and profiting from the lack of housing.
Is this caused largely by not enough houses being built? Yes. Would it still happen if we built enough? Yes, to an extent because housing in certain areas will always be at a premium and building more in those areas is not always possible.
BTL landlords are doing it to make as much money as possible in most cases. Trying to absolve them from their part in the current housing crisis is silly.
More money in our pockets... Thank kamikwasi.
It's a solution but it's too slow and many if not all get snapped up by the Buy To Leach folk. By the time a few houses are built there's more folk on the waiting list.
The problem is a lot of lenders get in to the game to make money - pure and simple. The first chance they get to raise the rent they take it - then another lender sees what they can get and so they raise the rent as well. The more lenders, the more prices rise. The more the profit, the more lenders.
So if you ban BTL where do the renters live? Simple question but given the national shortage of rental property driving a huge rent spike what's your solution for them?
Rent can only go up if supply of property is constricted, the current competition is renters out bidding each other for a limited supply of property, build more housing and you get landlords competing for tenants and rents fall.
The issue in this country is a long term systemic lack of house building fix that and you fix the buying and renting markets it really is pretty simple.
The banks are already pricing in the rise in the base rate in November and betting on a pretty large one, realistically mortgage rates shouldn't need to rise at that point (Not saying they won't but they shouldn't, would really help if the OBR published some positive stuff about the government budget just before the meeting lol)
Mortgage rates are only loosely based on the BoE base rate.
There are a lot of other factors behind it all.
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You're being ridiculous. There is always a place for renters and therefore landlords. The issue is that for a long time now, BTL landlords have been able to take a disproportionate amount of the available housing stock because its guaranteed money. You get an interest only mortgage, 10 years later your asset has nearly doubled in price, you have been getting an income from it for those 10 years and you continue to watch this trend until you cash out.
They are very much exacerbating a bad issue. No one is stating that we don't need landlords. Thats not the issue. The issue is how attractive crazy house prices have made being a landlord to those who have the initial capital to invest. That very much disadvantages young homebuyers and inflates prices even more.
Yes when we build enough houses this issue will be solved but you are trying to absolve a group of their part in the mess by making out that they have no say in it. They do.
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