birch-chorley Posted January 17, 2017 Share Posted January 17, 2017 The thing is the B2L investors are one of the primary forces keeping young people off the housing ladder. If I could afford it I'm sure I'd be investing in property, but there does need to be something done. It's much harder and more expensive to get a B2L mortgage in terms of affordability checks, LTV & interest rates so the dice are weighted in favour of the individual I guess you could easily spin what you have said. Without millions of buy to let properties where would all the renters live? Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted January 17, 2017 Site Supporter Share Posted January 17, 2017 Rich bastards?? But of a strange comment Plenty of folk invest in property as an investment, don't think they should be labelled 'rich bastards' I have a number of friends who are private landlords. They buy a run-down property, do it up and let it out. I'm talking here about someone going in and buying all the so-called affordable homes off plan as soon as they're released, thus giving those who would have liked to buy no chance of doing so. They'll have had the clout to go to the developer and make an offer for all. The developer is in a great position that all his new-build are sold. I don't think my interpretation of what a private landlord does includes this massive purchase of stock. Your interpretation may differ. That's the good thing about opinion. You can have yours and I can have mine. I stand by my greedy bastard comment. Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted January 17, 2017 Share Posted January 17, 2017 (edited) I have a number of friends who are private landlords. They buy a run-down property, do it up and let it out. I'm talking here about someone going in and buying all the so-called affordable homes off plan as soon as they're released, thus giving those who would have liked to buy no chance of doing so. They'll have had the clout to go to the developer and make an offer for all. The developer is in a great position that all his new-build are sold. I don't think my interpretation of what a private landlord does includes this massive purchase of stock. Your interpretation may differ. That's the good thing about opinion. You can have yours and I can have mine. I stand by my greedy bastard comment. I don't think what your saying happens actually does Anyone with that sort of clout just builds a development themselves rather than buying from Redrow and giving them profit Nothing wrong with that either, I bet many of our pensions are invested in such schemes Edited January 17, 2017 by birch-chorley Quote Link to comment Share on other sites More sharing options...
gonzo Posted January 17, 2017 Share Posted January 17, 2017 It's always nice when folk buy a brand new house on a brand new development patch and then realise half of it has been given to benefit folk and housing schemes. I do a massive chunk of houses on a new scheme for a social housing company. They bought 70 houses in the middle of about 200 privately owned. Went down well when they started phasing the renters in Quote Link to comment Share on other sites More sharing options...
frank_spencer Posted January 17, 2017 Share Posted January 17, 2017 It's much harder and more expensive to get a B2L mortgage in terms of affordability checks, LTV & interest rates so the dice are weighted in favour of the individual I guess you could easily spin what you have said. Without millions of buy to let properties where would all the renters live? If there was more houses available to buy then they'd be able to afford to own the house themselves. The problem is that ideal first homes are exactly the same properties that are ideal for B2L which drives the prices up often out of the reach of most. Quote Link to comment Share on other sites More sharing options...
birch-chorley Posted January 17, 2017 Share Posted January 17, 2017 Granted it's part of the problem A bigger part is that millions don't have either the credit rating or any reasonable deposit whatsoever so can't get a mortgage Outlaw B2L all you want but that won't change In fact outlawing B2L will harm them as their will be less properties available on the rental market Quote Link to comment Share on other sites More sharing options...
frank_spencer Posted January 17, 2017 Share Posted January 17, 2017 i have no issue with B2L as such, but certainly it has a big impact on the housing ladder Quote Link to comment Share on other sites More sharing options...
Smiffs Posted January 17, 2017 Share Posted January 17, 2017 It's the perfect chance for the rich to become richer by buying up off the plans then selling or renting out. Sure the Government paid a little bit of lip-service to the fact that affordable homes were supposed to be affordable for young couples to buy rather than for rich bastards to buy and young couples to rent. That's one way of looking at it. Another way is folk who don't have a whopping civil service pension to rely on and retire during normal working age to the rest of working society, use the B2L market as their own pension with their own investment risk and reward, getting spanked with scum tenants who spend their housing benefit on ale and fags running up at least 6 months debt before you can get shut of the sponging low life cunts along the way. Quote Link to comment Share on other sites More sharing options...
Smiffs Posted January 17, 2017 Share Posted January 17, 2017 I'm talking here about someone going in and buying all the so-called affordable homes off plan as soon as they're released, thus giving those who would have liked to buy no chance of doing so. They'll have had the clout to go to the developer and make an offer for all. The developer is in a great position that all his new-build are sold. I don't think my interpretation of what a private landlord does includes this massive purchase of stock. Your interpretation may differ. That's the good thing about opinion. You can have yours and I can have mine. I stand by my greedy bastard comment. Your talking shit. Much of the affordable housing, designated under planning law and approvals, is either funded and controlled by housing associations or passed over to them either at cost or FOC by those greedy bastard developers who top up your pension with their taxes. The stock is then either sold to FTB, many via HTB or rented out. The rest done by private developers within their own schemes are sold to FTB or those with low incomes on HTB. The build cost is massively subsidised by profits made from rich greedy bastards who buy the big houses which then allows the affordable ones to be provided. Over 150000 help to buy deals have been done since 2013 with 80% of them to FTB. The days of spec landlords coming in and buying up whole blocks of flats stopped in 2004 which is where the housing crash started. Quote Link to comment Share on other sites More sharing options...
Salford Trotter Posted January 17, 2017 Share Posted January 17, 2017 It's the perfect chance for the rich to become richer by buying up off the plans then selling or renting out. Sure the Government paid a little bit of lip-service to the fact that affordable homes were supposed to be affordable for young couples to buy rather than for rich bastards to buy and young couples to rent.This is my pension scheme and i am not being greedy just in the same way you will invest your money to make the best return is not being greedy. Quote Link to comment Share on other sites More sharing options...
Site Supporter MickyD Posted January 17, 2017 Site Supporter Share Posted January 17, 2017 The days of spec landlords coming in and buying up whole blocks of flats stopped in 2004 which is where the housing crash started. So I'm not so much talking shit as talking historically? I can only go off anecdotal tales of friends and friends of friends being unable to purchase affordable homes on a brand new affordable home mini-estate on the land formally occupied by United Utilities on Crompton Way. They were unable to do so due to the number of speculators getting in there first. Quote Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted January 17, 2017 Site Supporter Share Posted January 17, 2017 There's plenty of information out there about the problems associated with loss of green space and the covering of land with buildings and concrete etc. Both from a health and environmental point of view (indeed they are connected). Quote Link to comment Share on other sites More sharing options...
Smiffs Posted January 17, 2017 Share Posted January 17, 2017 There simply not enough brownfield land to meet the supply demands. Folk living longer, people living alone, divorces, immigration...overall demographical changes mean the country needs more houses. The problem I have with it is successive governments haven't invested in the infrastructure around it to serve that demand. Quote Link to comment Share on other sites More sharing options...
Site Supporter Tonge moor green jacket Posted January 17, 2017 Site Supporter Share Posted January 17, 2017 There simply not enough brownfield land to meet the supply demands. Folk living longer, people living alone, divorces, immigration...overall demographical changes mean the country needs more houses. The problem I have with it is successive governments haven't invested in the infrastructure around it to serve that demand. Too expensive maybe. With immigration yielding a town bigger than Bolton every year, its not just roads, utilities etc, but power supply, reservoirs, sewage works etc that gets stretched. Just don't see it as sunstainable. Back to the foreign aid debate... Quote Link to comment Share on other sites More sharing options...
Whites man Posted January 17, 2017 Share Posted January 17, 2017 I can only go off anecdotal tales of friends and friends of friends That is known as FACT on here Michael. Quote Link to comment Share on other sites More sharing options...
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