Comments on: The Type Of Landlords That Are Getting Repossessed http://www.propertyinvestmentproject.co.uk/blog/the-type-of-landlords-that-are-getting-repossessed/ DOCUMENTING ONE MAN'S JOURNEY TO BECOMING A PROPERTY MILLIONAIRE Thu, 09 Feb 2012 02:45:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: GillsMan http://www.propertyinvestmentproject.co.uk/blog/the-type-of-landlords-that-are-getting-repossessed/comment-page-1/#comment-58943 GillsMan Sat, 01 Aug 2009 13:11:53 +0000 http://www.propertyinvestmentproject.co.uk/blog/?p=1711#comment-58943 A really interesting article this. Even though I'm probably what the media term a "reluctant landlord", I've wanted to be a landlord for some time now, and I did something quite revolutionary before becoming a landlord: I did some research. If more landlords did this before going in, there'd be fewer problems for landlords. A really interesting article this. Even though I’m probably what the media term a “reluctant landlord”, I’ve wanted to be a landlord for some time now, and I did something quite revolutionary before becoming a landlord: I did some research. If more landlords did this before going in, there’d be fewer problems for landlords.

]]> By: The Landlord http://www.propertyinvestmentproject.co.uk/blog/the-type-of-landlords-that-are-getting-repossessed/comment-page-1/#comment-58616 The Landlord Wed, 29 Jul 2009 07:27:49 +0000 http://www.propertyinvestmentproject.co.uk/blog/?p=1711#comment-58616 Simon, That only happened to those who were able to hold on that long. Rates didn't drop to the current base rate 0.5% until long after the recession started, hence why the rates dropped. No, "most" people didn't benefit, because most people didn't fall into the SVR at the perfect time, as you may have- they fell onto the SVR when it was averaging 7.5%.. Those that came off their mortgage in the last few months and before rates started dropping, most likely struggled/are struggling with payments. And as I said, didn't have enough equity to remortgage. Simon,

That only happened to those who were able to hold on that long. Rates didn’t drop to the current base rate 0.5% until long after the recession started, hence why the rates dropped.

No, “most” people didn’t benefit, because most people didn’t fall into the SVR at the perfect time, as you may have- they fell onto the SVR when it was averaging 7.5%.. Those that came off their mortgage in the last few months and before rates started dropping, most likely struggled/are struggling with payments. And as I said, didn’t have enough equity to remortgage.

]]> By: Simon Pickard http://www.propertyinvestmentproject.co.uk/blog/the-type-of-landlords-that-are-getting-repossessed/comment-page-1/#comment-58580 Simon Pickard Wed, 29 Jul 2009 00:38:06 +0000 http://www.propertyinvestmentproject.co.uk/blog/?p=1711#comment-58580 "The rent no longer covers the mortgage payments because you’ve come off your fixed rate and onto your lenders variable rate. You can’t remortgage to get better rates because you don’t have enough equity. You’re getting repossessed." Erm.. No. Most people went from 6% or so rates to 3%. I'm now using this extra saving per month to overpay faster. I'm not getting repossessed. I'm paying off my mortgage sooner. “The rent no longer covers the mortgage payments because you’ve come off your fixed rate and onto your lenders variable rate. You can’t remortgage to get better rates because you don’t have enough equity.

You’re getting repossessed.”

Erm.. No. Most people went from 6% or so rates to 3%. I’m now using this extra saving per month to overpay faster.
I’m not getting repossessed. I’m paying off my mortgage sooner.

]]> By: Daniel Harrison http://www.propertyinvestmentproject.co.uk/blog/the-type-of-landlords-that-are-getting-repossessed/comment-page-1/#comment-58524 Daniel Harrison Tue, 28 Jul 2009 13:09:52 +0000 http://www.propertyinvestmentproject.co.uk/blog/?p=1711#comment-58524 Thankfully I don't fall into any of those brackets. I follow your rule, pay off the mortgage as quickly as is practical, then save a fortune on interest. Doh! Dan Thankfully I don’t fall into any of those brackets. I follow your rule, pay off the mortgage as quickly as is practical, then save a fortune on interest. Doh!

Dan

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