National PropertyPortfolio Posted December 14, 2011 Report Share Posted December 14, 2011 I am doing a bit of research to establish what the current state of the buy to let market is. I was hoping to get some feedback from a number of forums to see if people are actively buying investment property and if so what channels are you using to source them? I.e. traditional estate agent route or BMV sourcing companies etc.... Your feedback would be much appreciated! Regards, www.nationalpropertyportfolio.co.uk Link to comment Share on other sites More sharing options...
Melboy Posted December 14, 2011 Report Share Posted December 14, 2011 I have been buying and selling property for 25 years and finished my last renovation and sold last August. I will not be buying any property for the forseeable future but I never say never. My reasons being is that the market around my location is unstable, some, if not all are overpriced and very few coming to market but more importantly there are few buyers around. I have a source of local EA's who contact me privately to offer me property that I may be interested in purchasing and it's a case of scratch my back and I'll scratch yours. Mel. Link to comment Share on other sites More sharing options...
National PropertyPortfolio Posted December 15, 2011 Author Report Share Posted December 15, 2011 Thanks for the feedback Mel, much appreciated. Link to comment Share on other sites More sharing options...
Mortitia Posted December 15, 2011 Report Share Posted December 15, 2011 My last purchase was end of August and a 'distressed sale' hence a very reasonable price for the location. In a recession I am always on the lookout for this sort of thing in my catchment area - where the price is usually unrealistically high. I trawl the agents - some are more helpful than others and avoid the ones that are trying to sell me stuff in naf areas and who don't listen to what I, the customer want. Occasionally an agent will approach me with something that needs moving quickly which can be a bonus. Will I buy any more? Never say never - always on the lookout...... Mortitia Link to comment Share on other sites More sharing options...
Richlist Posted December 15, 2011 Report Share Posted December 15, 2011 My last BTL purchase was completed just over a year ago.....a repossession flagged up by a friendly agent. I won't be buying any more for the forseeable future because of the lack of suitable finance. I don't mind paying cash as I have the resources and short term finance already in place BUT in the past I always mortgaged the places and paid myself back. The problem now with BTL loans is that they have ridiculously high interest rates, astronomic arrangement fees and onerous terms and conditions.......which I just will not agree to. Perhaps I've been spoilt as I have a large portfolio of lifetime loans at 0.59% above base.....so I'm paying 1.09% and few others at 1.32% above base. The only reason I'd buy now is : * If the price to value ratio outweighed the finance costs. * It was a property that could have value added eg potential for a one bed convertion to 2 beds. * A property with a large garden that could be split for a building plot. * An attractive house that could be converted to flats (or vice versa) * etc etc Straight forward BTL property, even at todays lower prices, just doesn't make sense. The business equation doesn't work in 99 cases out of 100. Link to comment Share on other sites More sharing options...
National PropertyPortfolio Posted December 16, 2011 Author Report Share Posted December 16, 2011 All very useful stuff, thanks guys. Link to comment Share on other sites More sharing options...
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