Financial hurricane coming?

[Bilioustrumpstaine]

My heart goes out to all those buy to let landlords , shame that loads of those properties are laying empty now and no one is paying for there pension.

Far from it, rents have gone up considerably in the last 12 months or so, rental properties are in demand. People can't buy at the moment as mortgages are hard to come by so they are renting instead.

The buy to let people who will be in a bit of bother are those who have bought new builds at over inflated prices and are now in a negative equity situation. Any property investor who has done their homework should not be suffering.

 

[Bilioustrumpstaine]

This rescue plan was supposed to be the savior of the world what next?

The US are 35 days away from an election, the politicians will be circling round this problem like a pack of dogs around a lampost.

 

[Norcon]

I wish our feeble politicians had the same balls as those in congress.
Why should the tax payer have to bail out greedy gamblers on wall street and banking corporations who will sell out your posessions and put you on the road when you fail on the repayments ?.
Hell skelp it into them.
They have feathered their own nests for long enough with honest peoples money and now they have had their comuppence.

 

[namsag]

So if the buy to let market is so buoyant and rents are going up ,why are we seeing programmes on every channel about people loosing fortunes in every big city through not having any tenants and owners not being able to afford the mortgage.

Ayear ago in the local property page we had maybe a page of to let properties now its 5 and six pages . Drive around and all you see is to let boards then maybe a month or so later its changed to a for sale sign.

And when the polaks etc fek off home its going to get worse, property will crash even further and the people who could not afford to get onto the property ladder will then be able to and release more of the buy to lets onto the market causing prices to drop further.

Think i`m talking shi#e look at america already been happening for the past year and still collapsing entire towns devistated financially

 

[Rob]

Why don't mortgates get written off if these private banks go bust.

 

[Trazor]

Why don't mortgates get written off if these private banks go bust.

They would if no one intervened, but other banks always buy up their viable assets, which unfortunately for you includes mortgages.

 

[plugwash]

Why don't mortgates get written off if these private banks go bust.

Because that isn't how bankrupcies work (though no banks have actually gone bankrupt, Many have been taken over by each other and by government but none have actually gone bankrups).

Basically a bankrupcy seperates a companies assets (and to the bank your mortgage is an asset) from thier debts. Then the assets (either liquidated in a firesale or kept together as a going concern) are used to pay as much of the debts as possible.

 

[mark vincent]

Is ironic the right word, or maybe pathetic would be a better description of these "financial masterminds"who for years have complained that government interference in the financial markets was stopping them making the country and themselves rich, they said the people and the government didn't understand how the financial markets worked. It nows seems they were not much more enlightened themselves, the whole scam was nothing more than a game of financial pass the parcel of worthless loans, now the music has stopped those holding the parcels are fecked.

 

[hi1]

I'm as concerned as the next over buy to let landlords not being able to find tenants for their properties. Why don't we invite some more people from africa and asia to come and live in them. Gordon will feel happy that he's doing his bit for africa, the landlords will get their money, social workers will be employed for years to come, printers can work overtime to print the claimants forms and the taxpayer can go to bed at night with a nice warm feeling (the only one he will have, being unable to afford to put the heating on) that his taxes are being well spent. We can then all live together in multicultral poverty.

 

[mark vincent]

With so many people getting repossessed these days the buy to let merchants shouldn't have any problems getting tenants.

 

[Norcon]

Well so much for the financial hurricane caused by banks.

brown is probably responsible for reeking the large part of the hurricane shovelling large amounts of tax payers money in order to sustain their greedy life styles.

One banker on a night out recently quipped to the waitress when given his enormous bill " I shall pay by card, I use cash as toilet paper".
The last year has been one of their most profitable ever thanks to the tax payer.

 

[oompah]

Whats happened to the £175 bn of extra printed money by the BofE,I have'nt got any extra in my back pocket come on own up who's got it?

 

[Thermo]

and newcastle

dont know, but i was right about newcastle 8 months in advance!