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The UK rental/ buy to let industry is getting out of hand IMO.

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posted on Jul, 7 2015 @ 04:24 PM
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There was a time when renting a house in the UK was pretty easy, you either went to the council or a private landlord/lady and that was that.

I understand how landlords could get shafted and that certain things should be put in place to protect an investment but it's getting a little out of control now in my opinion.

Anyone that owns a buy to let property is doing well and fair play to them but...

Our landlord has decided to sell up as it is no longer financially prefereable to them. We rent though an agency.

We have a bond of around 500gbp(773 USD) and pay 675gbp(1043USD)

in order to rent a new house WITH THE SAME AGENCY BTW on another property we need to put down a bond of 710GBP(1197USD) and a months rent of 710gbp(1197USD) before we get our money refunded.

We also need to pay fees to the agency we already rent with of around 625GBP(966USD) for the contract on the new house.

Put simply we have just over 5 weeks to find an additional 2054 GBP(3161USD) on top of our normal outgoings just to move before the cost of moving.

Although we will get some of this back it is very hard for some people to raise these kinds of funds in a short space of time and I imagine that others find this hard.

All from people that own several houses and keep the cost of housing out of the reach of average people just to build there own bank accounts.




posted on Jul, 7 2015 @ 04:31 PM
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Dude!!!

That sucks.

I have to say when it comes to landlords mine is the most straightforward there is £400 into his bank every month no questions and that's it, if I have a problem the guy is at my door with in a few hours to sort it out.



posted on Jul, 7 2015 @ 04:41 PM
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a reply to: OtherSideOfTheCoin

I would ask where you live but the more mportant question is WHEN?

Good luck living in the early 90's???



posted on Jul, 7 2015 @ 04:47 PM
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a reply to: nonspecific

wait, you mean this is not 1986?



posted on Jul, 7 2015 @ 04:54 PM
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a reply to: nonspecific

Man, that's dirty. I hope you find something soon. Good luck to you.



posted on Jul, 7 2015 @ 05:05 PM
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Those prices look great to me but I feel your pain man, it's a bump. Last time I rented was a couple of years ago and we were paying £1300 a month for a run down 2 bedroom house with a crap garden. London prices are insane.

Everything in the capital is being sold off hand over fist to russian and chinese slum lords who are now charging extoritionate sums for basic properties. Good luck ever getting them to fix stuff.



posted on Jul, 7 2015 @ 05:21 PM
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Okay, have you been issued with a 'notice to quit'?

If you haven't, then remain where you are, Landlord's need to issue this as part of the rental laws.

Even if they have still stay put. Wait until they take you to court and allow the court to make the decision. Once you have done this, make a visit to your local council's customer service point and present yourself as homeless.

It will be a cheaper alternative, but you really shouldn't be in this position. Thatcher allowed the council accommodation to be sold off, she had no right, but did it anyway. We are now witnessing her Utopia, people having to keep up payments, therefore work hard, keep your nose clean, don't strike, in order to keep up with the payments.

Good luck with whatever you decide to do.



posted on Jul, 7 2015 @ 05:31 PM
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originally posted by: MagnaCarta2015
Everything in the capital is being sold off hand over fist to russian and chinese slum lords who are now charging extoritionate sums for basic properties. Good luck ever getting them to fix stuff.



It's interesting that they are allowing this. Should we expect a crash in the housing market anytime soon? After all, if it crashes, then how much will they be willing to sell them off for? I'm sure the Russians and Chinese have made provision for such an eventuality.



posted on Jul, 7 2015 @ 05:50 PM
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Sounds similar to many places in the states, just with different words ("bond" is "deposit" here).

I don't own properties, but my mom does. I manage them for her now, to some extent, that she is older. So i get both sides here. Sounds like you are in a landlords market, and are getting the shaft because of it.



posted on Jul, 7 2015 @ 06:48 PM
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With the price of houses and the rising cost of living, on my minimum wage job I would have a 2 bed room house paid off in about 250 years.



posted on Jul, 7 2015 @ 07:29 PM
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It was like that back in the 1990's. I remember a college classmate graduating and going down to the SE of England for a job - even made it to the local newspapers. They went down to the London area, found that they could only afford those places advertised in the small adverts section of the local paper. They visited an open day and discovered the landlord was auctioning off ... rooms. He was getting couples to bid to rent a room. Highest bidder won the room.

In any other country like Canada or the USA, they would be demolishing the old blocks of terraced streets to build condo units. These would stll be bought up as investments and rented out, but at least it would take the pressure off the property market, and encourage the lower end of the market to improve quality.



posted on Jul, 7 2015 @ 11:35 PM
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My advice is avoid agencies/councils like the plague. They have one interest, and only one...collecting the rent. Good luck with getting them to sort out any other problems you might have. Stick to a landlord - much simpler when you're dealing with one person, and that person actually owns the property.

Don't know anything about 'buy-to-let', never done it. Sounds like a rip-off.

If you're going to buy a place then for goodness' sake buy it; if not, rent. Keep life simple.
edit on 7.7.2015 by CJCrawley because: (no reason given)



posted on Jul, 8 2015 @ 02:38 AM
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a reply to: nonspecific

I'm totally against revolution. Peaceful, lawful rebellion and co-operation with various groups is the way to create lasting social change without danger of unwanted destruction. But this is good cause for revolution. Probably pushing us to this deliberately.

Should you miraculously get put at the top of the council list you'll most likely be offered the worst home in the area. The one no-one wants. Then you'll be dealing with the most corrupt fat-cats you've ever encountered. There'll be one or two decent ones surrounded by plump, tanned, smirking, self-serving, politically correct pieces of excrement. I'm not jaded, I know them.

A housing association may be a better bet. They will probably interfere less.

If you can locate the 'right' private landlord you'll be doing well. The trouble is you're then tied in to the landlords personal ups and downs.

Looking on the bright side at least you can't afford to buy a new house built where it will undoubtedly get flooded.



posted on Jul, 8 2015 @ 04:24 AM
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Its all about screwing people . Govt don't care otherwise in their professed claim about "serving the people' they would look at this kind of thing with a view to seeing if regulation was in order.

But then it depends on their idea of SERVING as they may consider they are serving the people they want to serve.

You just gotta try n put more pressure on them than their friends do.



posted on Jul, 8 2015 @ 05:09 AM
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originally posted by: CJCrawley
My advice is avoid agencies/councils like the plague. They have one interest, and only one...collecting the rent. Good luck with getting them to sort out any other problems you might have. Stick to a landlord - much simpler when you're dealing with one person, and that person actually owns the property.

Don't know anything about 'buy-to-let', never done it. Sounds like a rip-off.

If you're going to buy a place then for goodness' sake buy it; if not, rent. Keep life simple.


Sorry this makes no sense - brain fart. Too late to delete.



posted on Jul, 8 2015 @ 07:51 AM
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a reply to: Kester

I would need to wait around 15 years to be eligble for a council house!

The system has been totally screwed up to benifit the middle and upper classes imo.

If you have equity you can get a buy to let mortgage and then take on a family on benifits, this effectivley means that the UK taxpayer is buying you another house.

It also keeps the house prices high making it harder for first time buyers to get out of the rental market which in turn drives up the rental costs and keeps the whole sick system working.



posted on Jul, 8 2015 @ 07:53 AM
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a reply to: CJCrawley

There are very few private landlords right now, most property is through an agency wich also adds to the cost of renting.

As I said even if you stay with the same agency you only get an initial 6 month tennancy, if this ends then you have to pay the 600 plus fees again, and again, and.....

Buy to let mortgages are for investors with equity where you buy a house for the sole purpose of renting it out as an additional income/retirement fund.



posted on Jul, 8 2015 @ 08:22 AM
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a reply to: nonspecific


Buy to let mortgages are for investors with equity where you buy a house for the sole purpose of renting it out as an additional income/retirement fund.


Yes, sorry about that. I was thinking of something else. Where you move into a property and pay rent but you're buying at the same time? I'll make a coffee.



posted on Jul, 8 2015 @ 08:48 AM
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a reply to: CJCrawley

There is a scheme where you buy a share in the property with the local council and it's an outright scam.

Although you "own" a percentage of the property you are also fully responsible for the upkeep and maintenance and have to pay rental on the councils share on top of your mortgage

I know loads of people that have done this and not one of them came out on top.



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