Buy-To-Let scammers crying over their financial losses (10Jun09)

The buy-to-let property market, which helped create the unsustainable UK property market and subsequent UK recession has collapsed. Now the same people are crying that they are not making any money in rents, or getting repossessed. So what! About time people that want to live in houses as a home got their hands on a house / flat, and not feeding the people who see a house as some sort of cash-cow.

Recorded from BBC 6pm News, 10 June 2009.

Category:

News & Politics

Tags:

• uk
• buy
• to
• let
• property
• scam
• scammers
• investors
• speculators
• house
• price
• crash
• repossession
• reposessions

[Straightsix76]

BTL is DEAD.

Good effing riddance !

[liarpoliticians]

@Straightsix76 Unfortunately not, the BTL scammers have been given a shot in the arm by the coalitions 2011 budget. They get tax breaks to "invest" in more. The house price scam is continuing.

[Straightsix76]

@liarpoliticians It wont make any difference, the yields are paltry, the average house has lost over £40,000 in value since the credit crunch. BTL isn't viable anymore, it's now a MUGS game

[liarpoliticians]

@Straightsix76 There are plenty of mugs still out there.

[Straightsix76]

@liarpoliticians How are these ppl getting mortgages in a credit famine??

[liarpoliticians]

@Straightsix76 Ask the BoE, they are the ones claiming people are still getting loans.

[Straightsix76]

No, they are not, house price growth has almost stalled to 0.1%. We are heading for another full blown crash again. The economy has collapsed and the fundamentals are not strong enough to support high prices. The recent rises in prices were just a temporary artificial blip propped up by funny money (QE)

[measuringstick]

they buy a house with a mortgage, and then move someone in, so in reality they are getting the mortgage paid off for them, so they end up getting the house for nothing, its the biggest scam going, house prices have dropped but to rent a house it's still the same if not more. so why is rent so high

[TheGonzaPoker]

I meen, I know i'm probably in the wrong crowd here but I'm seriously considerin getting involved in buy to let investing, although it goes against my personal beleifs since i hate captatalism as a whole, and buy to let is parasitic i admit, I cant deny in this captalistic structure its a good investment oppurtunity depending on what you buy and how you manage it.

[kiserd13]

I really hope these buy to let slumlords all die of aids!

[Straightsix76]

David Newnes, estate agency managing director of the firm, commented: "The recent loosening in the buy-to-let mortgage market has boosted the supply of rental homes on the market, a crucial factor in the temporary drop in rents."

[Straightsix76]

Landlords' rent books may not have been as strong last month as new figures show that the cost of renting a property fell for the second month in a row.

The Buy-to-Let Index from LSL Property Services reveals that throughout England and Wales, the average rent stood at £682 per month, marking a decline of 0.3 per cent from December.