Just 3% of mortgage approvals are buy to let

Samuel T. Cogley

zig wrote: »

Silly question, but is it possible people are getting mortgages without telling the bank they intend to rent the house and this might skew the figures?

I would have assumed its harder to get approval for those kind of mortgages.

It's possible but the figures show the number of LL's is declining so I doubt it's large numbers of people doing it.

BDI

Samuel T. Cogley wrote: »

It's possible but the figures show the number of LL's is declining so I doubt it's large numbers of people doing it.

Or that landlords are coining it so much they are buying the houses in cash.

Could do anything with the statistics really

Samuel T. Cogley

BDI wrote: »

Or that landlords are coining it so much they are buying the houses in cash.

Could do anything with the statistics really

The figures I mentioned are registered tenancies so they would incorporate properties bought outright. Most LL's are far from making huge amounts of money most have a negative cash-flow, if positive profit due to equity. Even if they did have the positive cash flow to purchase other properties - again not borne out by the stats showing most of us have one property - you're better off buying with a loan of some-sort for the tax relief.

beauf

BDI wrote: »

Or that landlords are coining it so much they are buying the houses in cash.

Could do anything with the statistics really

If there were so many doing it to distort the stats then there wouldn't be a shortage of accommodation. There would be huge amounts of complaints about it also. What you do have is complaints about LL selling up, or going bankrupt, and a shortage of places available.

There is also a huge increase in population and thus demand. That's what's causing the issue. Gallon into a pint pot.

I'm curious what you think cash buyer means when it comes to property. That it's unrecorded or something?

handlemaster

BDI wrote: »

Samuel T. Cogley wrote: »

It's possible but the figures show the number of LL's is declining so I doubt it's large numbers of people doing it.

Or that landlords are coining it so much they are buying the houses in cash.

Could do anything with the statistics really

Most likely. Been a landlord is a no lose game. I take it your trying to be a landlord as soon as possible, knowing this ? Money for nothing , money tree in the garden. No tax and no tenant issues.... I am sure you will have no problem picking up a very cheap property from a current landlord trying to get out of this great business. Dont forget you will also get the sitting tenants which is a double bonus... nothing could go wrong with that. ..

GGTrek

BDI wrote: »

Or that landlords are coining it so much they are buying the houses in cash.

Could do anything with the statistics really

This is what I was talking about in my previous post about interference in the threads: just moral judgments spouting or worse pushing forward baseless assertions (no data whatsoever to support it) that are part of the political propaganda of hard left parties like PBP.

Look how many reply posts were caused by just this post: I just rest my case that this forum utility for BTL investors is greatly diminished because of interference.

Graham

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