Coronavirus bounce back loan

[Mottie]

Parasitic BTL is the biggest scourge affecting young buyers. Always nice to see a decline in BTL.

Personally, I couldn’t be bothered with that BTL malarkey. It looks a right load of aggro to me with extra taxes, repairs and maintenance, regulations etc etc and that’s before the tenant stops paying and it takes you 18 months and thousands of pounds to get them out, just to get repossession of your destroyed property. Nightmare!

 

[motorbiking]

There was a trend a few years ago where people leveraged their credit rating to get btl mortgages, only to moan that they didn't make enough rent to cover the cost. Well no sh*t. Any business that has minimal entry barriers is a business that should expect a lot of competition.

If you take away the private rented sector, a lot of people wont have anywhere to live. One of my tenants has been renting off me for over 10 years - he seems to like it that way.

 

[Notch7]

Yeah. I’ll tell you what’s wrong, they’ve not scrimped and scraped for years to get a deposit together. That’s what we did. Too busy buying new clothes, going on holidays, latest mobile phone, cars on lease etc etc. Not prepared to sacrifice anything and think they should just be able to walk into a brand new house with new furniture, carpets and curtains and the latest gadgets. We weren’t poorly paid and had to save like mad for years to be able to get a deposit to buy our first house. Even then, we had to buy a run down hovel that needed complete renovation and everything we had except the bed was second or third hand. Most of my mates did the same. We had to live upstairs for the first year as downstairs just wasn’t habitable. Many young couples won’t do that these days I’m afraid.

thats just the same as the 'benefit scroungers' argument.

it conveniently conflates a few with the many on which to make a point.

I agree that it has always been very hard to get on the property ladder, but now it is far harder now than it used to be -it is that which causes the problem, not some unproven changes on the financial habits of young people.

Also wages have bee suppressed at the lower end for many year increasing the disparity.

 

[fillyboy]

I do love your early morning trolling Noseall. It always makes me smile.

 

[noseall]

The truth can be cutting, even in the mornings.

 

[EFLImpudence]

Noseall -

Fell free to use your business to build houses and sell or rent them really cheaply to today's youngsters.


JohnD -

Not sure what you do but are you ashamed of ripping-off your customers to pay for your lifestyle - possibly even to have bought your house?

 

[Mottie]

I agree that it has always been very hard to get on the property ladder, but now it is far harder now than it used to be -it is that which causes the problem, not some unproven changes on the financial habits of young people.

Also wages have bee suppressed at the lower end for many year increasing the disparity.

And yet a respected financial website puts out articles like this so where do they get their mortgages from or are they all lottery winners?

 

[noseall]

Noseall -

Fell free to use your business to build houses and sell or rent them really cheaply to today's youngsters.

I'd like to be a philanthropic builder. That would be nice.