to think all this nonsense about house prices being too high is just that - Nonsense!

[RazahFluffy]

DH and I have long been in the property game. We actually met whilst working as Estate Agents back in 1999!

I've seen a lot in my time as an agent - 2008/2009 were a bit of a blip, but overall, there's one thing I've always had faith in, and that's bricks and mortar and that prices always go up. They aren't making more land after all 😁

As well as working in property, we've got a few of our own. We started off as accidental landlords after we got together and kept both our homes to rent out when we decided it was time to move in together and find a place of our own. Over time we've added a few more to the portfolio.

We are lovely landlords. We let our tenants have our houses as their homes, and we like to do little things like send them Christmas hampers, and know their birthdays so we can send a card and usually a Pizza Express voucher.

Anyway, there's a lot of rubbish being written recently about interest rates and the economy affecting the market. Nothing could be further from the truth where we are!

It's still buoyant and the buyers registering at the agency are no different to usual - excited to either 'get on the ladder' or move to their next step towards their eventual forever home😊Vendors are still confident. They agree with us that houses are actually a bit too cheap, all things considered because inflation is quite high.

The one thing I'd have to say is if you can't afford a mortgage at the moment - think about your expectations. You might have thought previously that you could afford a 4 bed, but if you can only get a 3 bed for now is that really so bad? First time buyers especially I feel need to be realistic!

Property always goes up and it's no different now. We're really confident and having seen it all in this game, we really think it's time to believe in the market💪

Oakleaffy there are very few good estate agents, most are like OP over here - bit dim and obsessed with property.

A lot of landlords are overextended on interest only long mortgages. As they gradually come out of low fixed rates over the next 2-4 years there will be a lot of forced sellers. Wage rises aren't keeping up, which will limit the ability of rent to rise. The government also won't bolster up private rents because they would end up paying for via housing benefit.

We paid off our mortgage early a few years ago, so no skin in the game here.

The OP is being a goady twat and I think she knows it.

OP, my advice to you is to try to be a better person in future. It might help with your sleep problems.

We are to hide it if we don’t like it 🤷‍♀️

Also a very good point made above that the fall in property prices AND the fall in sterling makes the market ripe for being bought up by foreign investors. Again another massive OG.

Hence my point - they could bolster private rents by reinstating tax relief on mortgage interest

If this post is really then part of me is worried about the OP not understanding affordability, interest rates and the idea of a stagnant market - property prices only rise if enough people can afford to buy them, if interest rates price out first time buyers then that ripples through the entire market.

Loving that you and your spouse are "accidental landlords", OP!
Yes, I felt a bit dizzy, woke up and I was a landlord with pizza vouchers.

New vendors probably coming in. Because they are already starting to struggle with their mortgages and this will become more of a problem.

Also not being able to pay private rent doesn’t automatically qualify you for housing benefit. If benefits thresholds are not updated at the same rate as rents then there’s a growing group of people who can’t afford anything at all AND also not qualify for housing benefit.

op, Estate agents and then landlords! Lol, and why won’t you say all that you said!?
Let me guess, you are either neck deep in debt and trying to make yourself feel better or just plain wishful thinking.

I didn’t meet very clever EAs ever, so not expecting much from you. Try to read up and educate yourself.

TLDR: House prices don’t ALWAYS go up. Interest rates don’t always go down! Lol 😂

We have very little mortgage either and we are due to pay it all by the time our current fix ends so we have no skin in the game either.

OP doesnt get it. Most people (us included) think the property market has become dissociated from the primary purpose of providing housing for people. Values have been propped up by low interest rate and stupid government incentives because the conservatives love a landlord. The conservatives are currently breathtakingly unlikely to be re-elected, and the next government are unlikely to keep up the same approach.

Didn’t read enough of the thread before I commented. It can’t be for real!

Hence my point - they could bolster private rents by reinstating tax relief on mortgage interest

Why would they do that? The government has a crashing hole in its budget right now and reinstating miras would cost a huge huge amount and a huge proportion of the value would flow to the wealthiest. As a nation it would be an absolutely stupid idea when there are nurses and teachers struggling to afford food, petrol and electricity.

Have I understood correctly that the OP is desperately worried that what is in essence a pyramid selling scheme in UK house prices is about to collapse and they are massively exposed to it?

One thing this thread has taught me is to stop using exclamation marks so much as it makes you look a thick fucker. I am guilty of this. So thanks op.

Is nightbulb op? Probably

You have to rethink op. The only people who benefit from high property values are well off landlords. Why would the government choose to protect a relatively small group of landlords at a huge wider cost to the economy?

DH and i have a combined income of 260k and both work in finance/investment. We are running a mile from property right now.

Millions of people are about to be plunged into abject poverty and that doesn't usually help house prices, it's not hard to grasp.

Not only is there cgt on property as you say in fact it’s now at a higher rate than other gains 8% more, and capital gains tax on residential property now has to be paid within 60 days of sale rather than through usual tax return deadlines

Jgw1 spot on. OP (a landlord) thinks a bit of jovial thick skinned optimism can talk up the market and keep the bubble floating. Bit like peeing in the bathwater to keep it warm really.

Ha, that s is definitely a wind up. Nice try op!

You need to give your head a wobble op.

You canno

OP. Stop encouraging people to ask their parents for money they can't afford to give. It's appalling of you and completely unethical.

You need to give your head a wobble op.

You cannot be that dense.

And please stop with the !!!!!!!

I’m not a Tory supporter by a long shot but I work in tax and your post is factually incorrect. Over the last few years there has been a lot that has made it less lucrative to be a landlord than it was previously , loss of higher rate tax relief on mortgage interest, increase in capital gains tax rate on residential properties, reduction in reliefs available to reduce capital gains, cgt becoming due much sooner after sale, increase in stamp duty rates on 2nd homes to name a few

If this is "in the spirit" I'd love to read an actual definition of what "the spirit" is