#811

Really want to ask my landlord (who is also a good friend of mine) if he is having a mortgage holiday but too awkward to do it.

#812

Looks like someone needs a side hustle!

1 Like
#813

Should probably sell his iPhone or ask his parents for money.

4 Likes
#814

2 Likes
#815

So one of my flat mates texted today and said he’d handed in his notice, and is moving out on the 11th. He works in music and obviously his finances have plummeted.

There’s three of us and I have an informal rolling agreement.

Apparently the landlord suggested us remaining 2 could pay the absent rent if he can’t find a new tenant…good luck with that.

I’m thinking about pushing for a rent reduction for next month. I’m back home, doesn’t look like I’ll be living in the flat for the foreseeable future. If I decide to move out there’ll be potentially 2 empty rooms during a pandemic.

I’m not sure how I’m going to pay the full rent next month, and at the moment it’s ridiculous to be paying a substantial amount for a redundant room.

I’m not sure how renters are getting on in the rest of London. The extortionate rents in London seem to be predicated on 2 things:

  1. That London is thriving economy with workers making money
  2. London is an attractive place to live, with lots to do and see and therefore people will pay for the cultural capital

At the moment neither of these things apply. It’s a joke that landlords expect to collect the same sums while this is happening.

1 Like
#816

Edit: Guy is actually trolling a landlords group according to follow ups but the responses are real

#818

Timbo Tort

#819

I think this is what I’m going to do, yep!

1 Like
#820

“Markets go both ways, fucko”

2 Likes
#824

The entire mortgage? That’s obscene

1 Like
#826

Fucking hell :open_mouth: she’s genuinely convinced herself that she’s doing them a favour!

1 Like
#828

one of my most radical, adidas tracksuit wearing, squatting left wing mates INHERITED a house last year and is now renting out a room :smiley:

1 Like
#830

And she actually works as a housing something or other for a charity.

Was like ‘errr okay mate’ when she told me.

1 Like
#832

fuck em all

Landlordpricks
Landlordpricks1066×166 13.4 KB

2 Likes
#833

https://www.9news.com.au/world/coronavirus-sex-for-rent-reports-increase-in-hawaii-since-covid19-pandemic/b5954e87-5f1b-47b8-9406-ea3826142323

#834

Can’t believe there isn’t going to be a housing market crash after this. The buy-to-let market has fucked everything for years, and it arose from the (unsurprising to us Marxists) diminishing returns available from the stock market. Hopefully the house of cards will collapse soon.

Difficult to escape the impact of (in particular) London property being seen as safe haven for cash globally though. Needs to massively taxed or banned.

1 Like
#835

Low interest rates in the last 15 years have led to very cheap BTL mortgages, meaning that rental returns only have to cover the low cost of the mortgage plus maintenance. And the shortage of housing stock in the UK has meant that capital gains on property is almost guaranteed. And finally, the tax regime in the UK has been very kind to landlords.

While it is possible to borrow money to invest in the stock market, this borrowing is relatively expensive. Returns are a lot more uncertain, and stocks are attracting multiple tax charges (stamp duty, dividend tax, capital gains tax).

1 Like
#836

You’re absolutely right, many BTL landlords are doing it for capital gains, rather than returns on investment, which are around 4% I believe. Still better than most savings accounts, but not as favourable as 10 years ago when there was tax relief on mortgage interest.

I agree that shortage is a fundamental issue, but if there was a correction in price, more people could afford to buy, so demand for rental would diminish, driving rental incomes even lower and making it less attractive to BTL landlords. They would want to realise their assets, putting further downward pressure on the market and so it goes on.

All depends where the capital goes in the coming recession I guess.

#837

Nationwide approx. 11% of property for rent is owned by foreign investors. In London that number rises to 18%.

2 Likes
#838

Not if the UK economy goes into a deep recession, and unemployment sharply increases as a result.