Banks Buying Homes ~ What Does It Mean For You?
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- Опубликовано: 10 июн 2024
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In recent years, the UK housing market has witnessed a novel trend: banks increasingly show interest in the property rental sector. This shift could potentially reshape the housing landscape in the UK, with far-reaching implications for renters, homeowners, and the economy at large.
Traditionally, banks have been the gatekeepers of mortgages, enabling individuals to purchase homes. However, their move into property management and rental signifies a new role as direct stakeholders in the housing market. This transition raises questions about the future of housing affordability and availability.
One potential effect of banks entering the rental market is increased professionalism and standardization. Banks, with their substantial resources and regulatory oversight, will likely bring a more systematic approach to property management. This could lead to improvements in the quality of rental accommodations and more efficient handling of tenant issues.
However, there are concerns about the implications for housing prices and rent. Banks, driven by profit motives, might prioritize higher returns, increasing rental costs. This could exacerbate housing affordability in the UK, particularly in major cities like London, with steep rental prices.
Moreover, the involvement of banks in property rentals might impact the availability of houses for purchase. If banks hold a significant portion of properties for rental purposes, it could reduce the number of homes available for sale, potentially driving up house prices. Homeownership might be even more elusive for the average person, especially first-time buyers.
Another aspect to consider is the effect on small landlords. Banks entering the market could create stiffer competition, possibly pushing out individual landlords. This shift might lead to a less diverse rental market, with large corporate entities holding more sway.
While the involvement of banks in the UK rental market could bring particular efficiencies, it also raises concerns about affordability, availability, and market diversity. As this trend evolves, it will be crucial for policymakers to monitor and address potential challenges to ensure a balanced and equitable housing market.
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#homeownership #mortgage #housingmarket
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"You'll own nothing and be happy" The great reset
Blah blah.
@@EvoraGT430you’re a moron
@@EvoraGT430 baaa baaa
Conspiracy. Own nothing and be happy is a not a goal of WEF but ensuring access to the owning of property is.
@@David-bi6lf You've had too many vaccines.🥴
this started in USA and it's worse than you think. Their advantage is that they can buy the houses using leveraged money (they can 'lend - or use' the same deposited money multiple times). So yes, first time buyers are not competing against each other but against 'funny money'. Just to help the banks further the government is encouraging private landlords out of the market. When they stated at the WEF that you will own nothing - they were absolutely right. They will not reposes peoples houses, they will convert them to renters - nice. They want to own everything.
If we all say fuck you with our actions they can't do anything about it. The fact I am saying this means it's past time.
@@namethem00 Here here these p4 ra cites think they can write " I own you on" a piece of paper and steal everything we OWN enough is enough the people need to write their own pieces of paper, enforcing OUR property and OUR comm0n L4 w rights ! and send these crooks to jail while we're about it ! stop paying t4 x and stop paying mortgages, we're just giving money to thieves at this point !
@namethem00 Unfortunately not true. What we need to do is limit the Power of the Government and accountability measures will be created for public and performance benefits. Housing is a necessity. The Government can create rules, laws, controls to make the Housing market more Fair. I am a landlord for 12 years and understand both sides of this issue. My total expenses a year are 57% then pay 12.5% Fed Tax, then 5.2% State Tax. Total Expenses and Taxes 74.7%. Wait there's more paid 5.7% in buyers fees and then pay 11% in sellers fees. I think you see Fed, State Government, Banks and Realtors, are making an excessive amount off the work I do every year. They have ZERO risk but profit from everything.
@@jbranche8024 landlords are the sharks who started all this shit.
@@PazLeBonYou provide Zero value information to support your flawed theory. Try harder next time.
All part of a big plan. They punished landlords so that they sold up and rents increased.... so that the banks could take over.
Banks have free money (yours) to buy the properties. Landlords generally have to pay the bank (landlords rent money by way of a mortgage).
So before the bank made money via the mortgage, but missed out on the increase in value of the property. Now they take the entire cake while using your money to take it. They can also own a large share of properties in a given area and so control the prices. A bank won't care about keeping the rent low for a long term good tenant, so rents will always be maximized.
Worse - banks create out of thin air most of the money they lend to the public
ponzi money scheme we live in means they dont need real money
You are spot on. They are trying to make it nearly impossible to make a profit for small landlords to get started and then make a profit.
If you are allowed to magic up any amount of money you want like banks can, then you don't pay a mortgage and it's all profit.
You’ve got it.
I was going to post the exact same thing but you’ve done it better than I would have! 👍
I came to exactly the same conclusion.
Old model: loan against an asset that you gradually sell over 25 years in return for a fixed £800 a month
New model: own the asset and charge rent forever, starting at £1200 and ramping that number up whenever you feel like it
The only surprise is that it took so long for UK banks to get into this game.
It's all the same. Instead of interest they're receiving rent/income, it's all just profit.
I've no doubt because Banks can see interest rates dropping in the future, therefore that form of income, and moving in to rent which will continue to rise.
they've been plotting it for a long time, now they've got their dodgy p0liticians of all parties, making new "laws" to make life difficult for private individuals to own more than 1 property, so the banks can reap the harvest
@@Kazi2812That's right and previously didn't have to deal with tenants. Easy
“It’s all the same” except you pay rent until you die and you never end up with an asset that has appreciated in value. It staggers me how stupid people like you are.
How about fight back with "we are the last generation"
That is interesting that banks are buying the well insulated New Builds, and they can later on make a rule where they will not grant a mortgage on properties that do not meet the right energy performance scheme, thus making their own investment more attractive.
What I don't get is that new houses are stuffed with insulation, then you have to open the windows to allow for ventilation....
@@rob5944correct they did this abroad but they fitted a hvac system in to provide clean air and prevent dampness and mould in the uk they skipped that bit hence the problem they have caused.
@@rob5944 yes you do, but the extra insulation does keep more heat in and lower the bills. What I think is bad is that many housing estates and especially blocks of flats make it a breach of contract to dry clothes outside
Good point
@@laurieproctor3572 as I said before, we use a clothes airer with a dehumidifier. It'll dry light to medium weight clothing off in a day, ready for the boiler cupboard, with thicker item going over the towel rail. It has a 40w motor so not that power hungry, you can even tip the tank down the loo to help save water!
Only 1 minute in, but felt the need to say that my feeling is that it should not be allowed. Its hard enough for people to get onto the property ladder and there is a shortage of housing as it is.(why cant the banks by industrial units or even the empty commercial units instead, the people/businesses that rent those can claim that back at least)
Rents are normally more then a mortgage payment so people are further out of pocket.
We are truely becoming a world were we will never own anything and never have anything to hand down to our children
Yep....ready for socialism yet?
Own nothing and for to wages become just enough to pay off the interest on debts you are forced into by being paid so little.
That is the plan WAKE UP FFS.
Just call a spade a spade - serfdom.@@stephena1196
Should be illegal, rents have no economic positive effect. Ciphoning of money & mark-up applied; less money for circulation in the wider economy. Not to mention the huge detrimental effect of instability & frustration of paying someone else's mortgage.
Shared ownership = you pay all maintenance costs, insurance and repairs; then when you try to sell your property partners refuses to accept a market price unless you pay them more money.
Something like this happaned to me when I was trying to buy my house, a local property developer had somehow been given the nod for practically unlimited funds from the bank.
For what this meant to me was that I kept ending up in unwinnable bidding wars against the same property developer for every house I was looking at. As a first time buyer, I found it absolutely insane that there was nothing stopping this. This developer was snapping up every local property they could get their hands on so they could flip them quickly for vast profits.
I found out after buying my house (wasn't on the market) that same developer had ended up in some serious financial trouble and little was heard of from them again, probably bankrupt.
Was the bank every held to account for enabling all of this? Nope. They'd probably made a tidy sum from the whole farce.
probably bought him out on the cheap
This is a completely made up story isn't it
@@chester6343 Nope.
7x houses I went to view that were within my price range for a mortgage. I put down a reasonable offer, that same day I am told I've been outbid. I raise my offer, same again...and again..and it keeps going until the price is now twice the original offer was. Needless to say, well beyond what I could afford. This happened every time.
How I caught this out was that one of the houses I had made a bid on was a real wreck, it needed a total rebuild and I mean new floors and internal walls, plumbing, electrics...the works. The bidding war with that developer commenced right up until that gutted shell of a house was nuzzling £250k and I called bullshit on the estate agent. This house had nothing going for it, it barely even had windows and wasn't in a desireable area.I tapped out, only to find that same day it had sold to that developer again for less than my original offer. I threatened fraud on the estate agent, who fessed it all up once he was convinced I was serious about it. I was livid on this guy for wasting my time for weeks on end just to shift his property stock to this developer to make it all seem legit. We parted ways and I reported him anyway, because why tf not?
So I was back to square one and facing eviction, when my landlord did a 180-turn and made me an offer I would have been completely batshit to refuse. Glad I got out of that situation, even if it was just by chance, never again.
If the developer was 'flipping them quickly for vast profits' how did he go skint????
@@mazdamaniac4643 so, you put in a reasonable offer and then end up offering twice the amount in a bidding war???????
Agents don't waste time fucking about like that, they just tell you the owner has already accepted an offer the first time you ask about the property.
BS
My girlfriend and I bought our first house in N London in 1982 for £23,000.. Our re-build Insurance was £20,000 valueing the land at £3,000.. That same house was sold a couple of years ago for about £800,000.. As a retired Builder I know I could easily build that property from the ground up for £100,000 making the land value £700,000.. Thats about £7m per acre..
Corporate Greed! This selfishness must end it only benefits the already rich and the majority are left struggling to find a forever home. The poor desperately need affordable council homes. Ignoring this pushes people onto the streets homelessness will rise along with crime and mental illnesses. People renting are being charged a large portion of their earnings on rent and food leaving very little for heating and other bills.
So it's basically gone from public landlords, as in councils that built council houses, to private landlords, as in privately owned and private profit banks. Councils are accountable to the people they serve and they can be voted out whereas private banks are there to make profit and only accountable to private shareholders.
One thing that strikes me, banks create most of the money they lend, out of thin air..it's not all savings
Being allowed to buy and support the market themselves with money they create is a bit of a ponzi scheme
A Bit!! The entire banking system is such. That's why a certain German corporal got hammered, because he went against the scheme. And we know what group controls 'the scheme'
@@martinwarner1178- say it, man, say it!
It is borrowed money. Hence the interest rate being tied to the BoE.
Unfortunately we Goyim can't do anything. A certain group has a monopoly over private banking.
@@chester6343your opinion is the illusion we’re meant to believe.
Here’s a radical thought: Normalise ownership once again. It’s not just houses now though either, it’s everything - it’s media, it’s software, it’s even the right to use the heated seats in the car you ‘purchased’.
Unfortunately with ownership comes responsibility, for many years now people and certainly our younger generations have been steered away from this mindset.
I believe much of this stems from how mobile phones and things like Xbox sit in our lives. It grabs kids from an early age, they get used to upgrading stuff every five minutes, which means they don`t take responsible ownership for making something last, as its going to be replaced within a short time. Then there`s the growth in leasing vehicles or taking out warranty cover. Anything goes wrong they just pick up the phone, or should I say email someone! The days are gone where folk used to get the spanners out on a weekend. Homeownership is much the same, as we have become a finance and service based Country, no one has nor develops any practical skills to maintain a property. Anyone who needs to rely on contractors needs deep pockets. It`s amazing how many homeowners of today don`t even know a decent plumber or electrician, and are completely at the mercy of Google reviews!
They`re making property ownership more of a millstone than a positive aspect of life. A 25 year mortgage was easy to see the back of, even paid off earlier with a fair wind and some decent opportunity to earn well. Now kids are looking at 30 years and more, that`s half their life, the best years of their life, as a mortgage slave, then Local Authority come along and steal it when you need a care home!
Banks have been buying homes since pre pandemic. Why do you think the floor price for homes sky rocketed accross the UK?
Prices skyrocketed all around the world not just uk
@flaviokonti5522 Ever heard of the 1 world order.
Banks are probably in trouble themselves ,
Supply and demand is the ultimate issue
Roger, you are our hero and an inspiration! Once you have a platform, why not diversify, I say?! You are also our Davos without the need for a private jet! Please keep up your excellent work!
Roger, whilst I've been a little scathing about your videos when it come to interpretation of facts on property matters in other countries, it has to be said I have a great deal of respect for what you look into in the UK - and publish. Thanks for a very good series of videos.
I would suggest (to be polite) that the UK establishment (read both Lab and Con) has all the worst tenets of communism/hardcore socialism and the worst of capitalism, yet neither of the good parts of either.
It honestly stuns me to see what HMG does - and as for corruption, the only country in Europe worse than Ukraine is the UK, not least as a lot of total moral corruption is legalised/grey area/excused and anyway the police won't touch the rest - and that certainly includes the courts which no longer bother to follow the law, as (provably) inept as they are in any case.
I hope you won't mind me saying directly that the banks taking over housing is part of an overview plan which could easily have been dismissed as paranoia, had not Sunak (and so many other 'leaders' and the influential) publicly admitted his (their) obeisance to WEF dictat. For anyone who hasn't read the WEFs public statements, please do so - they are very sick people.
We live in awful times where the laws of decency and acceptance are abused daily and to an extent that no one seems shocked by it any longer. Perhaps it has always been so, but the speed of communications now, and broad access to law and knowledge, leaves little excuse for pleading ignorance any longer, and also facilitates ever faster corruption - by analogy to 'cops and robbers' - each outdoing the other in skills each alternating year.
The UK has to change and change wholesale and face some very tough years to put right what successive governments have put wrong and where each tries simply to get through its tenure acceptably well simply to get voted in at the next election - in the knowledge that it's 'all' going to end in total collapse - but just not 'on their watch' and certainly not before their pockets are lined. I hope some people will wake up and shape up to just what is going on in the UK. The very idea of banks being, or even aiming to be, primary landlords is so sick and twisted it doesn't bare thinking about.
One simple maxim springs to mind and that is "if you have a debt with the bank, you've got a problem, but if the debt gets big enough, it becomes the bank's problem" - in followance of the same logic - if the banks get big enough ad into enough trouble, governments have a problem - and that has certainly been the case as the taxpayer has bailed the banks out time after time. The (private) banks should be nowhere near in control and should be without leverage - for that is the business of a National Bank without private/investor interests, and one whose government sees to the well-being of the people first, as it's their money it is using.
One doesn't need to be a 'raving socialist' to ask for a reasonable foundation on which to build.
/All started with THatcher of course,
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people at least in California, where I currently reside are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
@@joshbarney114 I want to play the long term game with well diversified fund. Please how can i reach this CFP of yours?
Colleen Janie Towe covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
A while back banks could not own property by law. That was changed, can’t remember if this was a labour or Conservative law change.
It’s idiotic. It’s pushed up the value of houses which people think is nice but it isn’t.
Thatchers policy of right to buy was fine but the problem was that they didn’t ring fence the money and the subsidy can from the public pocket and people were allowed to keep the subsidy.
Interestingly enough thatcher’s government built more council houses in one year that New Labour did in the entire time they had in power with the worst year labour only built 420 houses.
Many of the houses sold off under right to buy were in a very poor state and not financially viable.
Dont be fooled. There is only one party. The bankers party. Who does tony blair work for, who does richi sunak work for? Its obvious.
My guess is it happened under Blair/Brown when restrictions were lifted and people could get 100% mortgages etc This should not be allowed.
Thatcher apparently instigated the fall in council house construction from 100,000 per year to zero which occured during her tenure. New labour enabled so called affordable houses built within private estates rather than council estates, for obvious reasons.
That`s not strictly true. It was in the 80`s when right to buy came into being, councils were glad to get rid of poor housing stock. Labour rolled out the decent homes directive, which saw things greatly improved. These properties were sold for well below market value, which shouldn`t have happened. I guess it`s of no consequence to councils anyway, as the revenue can`t be used to build more housing. @@jennywren8937
When a righteous man speaks the truth it will always resonate with others. Thank you for shining your light and enabling others to see the reality behind the illusion. We should all be extremely grateful for such examples of courage. 🙏
Great to hear someone talking about the value of council housing and security of tenure for stability. So long as misbehaviour is robustly tackled, it could be made to work again.
They will be buying houses from people who are defaulting on their mortgages and renting it back to them. So turning a falling investment (as mortgages are paid off) into a rising investment (where rents increase as time goes by). So the residents don’t get humiliated in front of their neighbours and lots of houses don’t reach the open market crashing it.
Let’s face it, when CBDC arrives the banks will be out of business because VISA will be running it for the government and skimming a percentage off the top. Note - banks don’t operate the credit card system.
Lloyds will be by newbuilds which would be built specifically for them and will confirm to all the latest building regs and insulation carbon reduction requirements. They won’t be running around buying secondhand scummy properties that need millions of pounds spent in terms of renovation. The problem is it will then be difficult for the private sector to compete as Lloyds obviously have the nose in the money trough and can effectively creative Currency, via bookkeeping entries, rather than having to hold the assets in the first place, like any other citizen or business. It’s shocking that this is going to be allowed as they have an unfair competitive advantage. Imagine if you could create currency at the flick of a pen,……. If you could, how many properties you buy With his free money?
@@DJ-uk5mm to be fair it’s only the Bank of England who can write a note lending imaginary money to the clearing/investment banks. But of course Lloyds will buy tranches of homes from developers. They will love seeing a ready buyer for their developments and the bank won’t be as choosy over the quality or details that a private buyer would be. By letting this happen the government saves the property industry. Ch-ching!
I predicted this five years ago. Corporate landlords will be the norm, rents will be higher and there will be fewer property owners.
The WEF predicted it 8 years ago. odysee.com/@shortXXvids:e/WEF-2030-Predictions-:3
...............You will own nothing and be happy.
Yep, same. People didn't want to listen or thought it was a "conspiracy theory"
And here's the thing, it's not just the bank mentioned in this video, it's a few other corp organisations.
The intent is clear. And the power it hands over is significant.
Cbdcs, corp owned houses for rent back to citizens..... Connect the dots.
But what did you do with the prediction to cash in?
@@tomjones8715 kept hold of a rental property and increased the rent. I wouldn't say I exactly cashed in though!
Roger, you should run for Reform. You would be very popular
Right wing policies have bought this about. You expect Reform to be agents of change in this area?
The so called reform party wont shut down the house of commons or house of lords. Pull the other one matey.
@@user-pf5xq3lq8iIt’s controlled opposition
@@user-pf5xq3lq8i Got a better idea?
Well said Roger. As in every YT blog, brilliant with all DIY and building advice, gold star standard; and also putting UK politics and economics to right. Love it.
Roger, excellent content and excellent delivery as always. Thought provoking, at the very least. Keep up the good work
It is a truly complex issue. It seems that no rule is good or bad in isolation. If banks are allowed to hold hard assets (property, oil, grain), which can be hoarded, in addition to soft financial assets (which do not hoard real things, critical for survival of society) then other rules must be put in place, removing special privileges from banks (e.g. creating new money in the system from a mortgage, anti hoarding laws, who knows what else), as well as vibrant market with competition to big 4 banks, to keep the prices down. Or don't allow them to own (or rather control) any real assets, critical for society. But the issue is a number of asymmetries in the system, which have various causes. For example, the tax payer builds council houses, then government sells it to the occupier at a discount, occupier-come-owner sells the property at a profit, mismanages the money and is now homeless, asking taxpayer to house them. Is it fair? Don't know, but it's asymmetric. The main cause for inflated house prices is banks lending at 4.7 times the wages. If banks stopped lending and people were buying with cache, house prices would drop 5 times. Banks lend this money not from their reserves but from legal accounting privilege (effectively create new money). Once mortgage paid, that money is destroyed, so long term it's ok for the currency, but is it fair? Don't know but it's asymmetric. If banks don't lend 5 times the salary but UK allows foreign investment, the local people will be out-priced, unless international currency exchange is is freely floating. But if currency exchange is is freely floating some UK businesses may be outcompeted by foreign businesses whose government subsidises the sector. Is it all fair? Don't know, but it's asymmetric. Inheritance tax on property bought after tax, is it fair? Very asymmetric. Two-bedroom terrace in Burnley, Howden and many other places sell for 20K. Is it affordable? Yes. Do we see a stampede of buyers, including banks? No. Do people move to these affordable houses or stretch themselves beyond what they can bare and buy 1 bedroom flat for 10 times this amount? The latter. Do they also complain that houses are unaffordable? Yes. Is it fair? Don't know, but it's asymmetric. On and on ...
Love all your videos. Thank you for your time and effort. 😊
Sir Keith Joseph was a key influence in "Thatcherism". His father headed the vast family construction and project management company, Bovis.
And we know what group he was from. Answers on a post card.
Meaning what? The Thatcher governments pushed personal home ownership: the very opposite of the Great Reset's, "You'll own nothing and be happy". Only a slave owns nothing.
2,400,000 council houses and flats sold off at one time discounts by tory and labour since 1979 and not replaced, what did we think would be the outcome.
Smaller freehold property should be ring-fenced for owner-occupation: seeking rent on them prohibited. Everything has been made more expensive and harder/riskier to do in the UK by soaring cost of accommodation.
I think we should regulate banks so that they only do their core business - keeping money and issuing loans. Not buying property with the money they could have loaned to someone.
This isn't how banks work, they don't have any money to lend. They borrow money to lend money and make a margin. Same with the property business.
So, they borrow money from the "central bank" at the low "central bank" rate and buy property? That's exactly what they should be prohibited from doing. They are being loaned that money to make loans. @@ridethelakes
The banks should not be allowed to buy up the property market with their ill gotten gains from financial speculation like the 2008 financial disaster, where they got bailed out at our expense. Unlike home buyers, these banks can write their own tickets as concerns typing themselves in the leverage necessary to buy everything up.
I know of a site in London which is being developed by a large insurance company. It comprises 1 and 2-bed properties for rent. A couple of years ago at Davos, we were told that we would own nothing but be happy. You can start to see the result of that statement. It will become harder and harder to own a home, and our cars will be leased. Finally, we become prisoners of the big corporations. Why do you think Bill Gates has become the biggest Landowner in America? Land is finite and long term can only increase in value if population growth continues.
He wants to own the food supply from family owned farms. Then he will supply his soylent green to the peasants who cannot afford to grow their own quality food.
yes, and the west will 'sanction' the rest of the world effectively imprisioning their own population as a captive market
steady Eddy, the inheritance tax bracket is only 4% of foke, so a bit of scare monger going on.
Brilliant video. Covered so much ❤
Roger. that is so spot on mate everything you said is exactly how things are . i never thought anyone would think the same as me but thank fuck you do mate. keep it up
You are a good man Roger. Keep up the good work.
Excellent analysis of the housing market and its problems.
You don't pay inheritance tax if you set up a Trust, just look at the Duke of Westminster.
Ordinary people don't have trusts.
Blair knew what would happen to property prices. Just have to look at the historic values of houses in London after he first got in between 1997 - 1999, they often doubled! Can't think why.
Excellent video, thank you. I haven't lived in a council house but I thought selling off council houses was a terrible thing to do. A complete nonsense.
Property ownership is essential to freedom. Only slaves own nothing. Renting is serfdom.
It wouldn`t have been such a failure had the money been ring fenced for building some replacement stock. Not everyone is cut out for home ownership, especially with the far too complicated system we live by. Anyone would think its done deliberately for people to fail!!!
Plus they`ll always be those who pump out endless amounts of kids, or never have a job. Still part of society.
And selling them for so little too, for absolute peanuts
very well informed commentary!
Brilliant as usual Roger .
Black Rock have been buying private houses in the US , so Black Horse are following .
Roger for PM .
We like your direction of travel Roger.
This is something that we all know should be outlawed, but the government would never do such a thing. Too many powerful people, many of whom are in government would stand to lose out.
If houses became affordable for the average person overnight, the economy would crash. Britain is literally run on house prices and without them being the lucrative investments that they are, we haven’t got much else going for us.
Excellent summation of the situation and future risk to ordinary people. 'Do you trust banks?' Absolutely not! I used to work for one and they're utterly ruthless with only one aim. I'm now also cynical about shared ownership schemes having had to 'dig' my 22 year old daughter out of one as her circumstances changed (it wasn't cheap or easy). The UK has had a big housing problem for a long time and I can't honestly see a fair solution. Banks as landlords sure as hell isn't a solution either.
It`s not going to be fair, it`s going to control and keep any sort of wealth out of the hands of the average joe.
Banks as landlords, = secure tenancies for renters, no risk of eviction or landlord selling up. Guaranteed revenue stream for banks as it`s never paid off like a mortgage, no messing with repossessions.
Glad you got your daughter out of that though. Shared ownership, help to buy, and whatever other nonsense has been created, nothing but an absolute con.
Wow, very insightful.
Explaining things so that we can all understand, thanks again Roger. I could never afford a house or flat in the UK so had to move to Spain. Just bought my first place in a nice little town which needs loads of work. Luckily I've learnt so much watching your channel I'm able to do the work myself.
Well said Roger!
Another strange one. My local authority offer to purchase homes directly from the seller, at market value. The idea is to increase social rent homes available, by preventing 2nd home owners buying up. Buy to Let ended in Scotland about a decade ago. Scotgov have built around 120,000 affordable homes, 70% social rent since then.
That seems like a blinding idea
Buy to Let should be illegal - many owners have their own home maintenence costs billed as repairs to their rental property in order to lower the tax on it too
Thats a really great idea. Only problem is Scotlands population is less than the whole of Yorkshire so its easier to actually do more sensible things there. No chance in England, capitalism & tax revenue are the first two things on the list...
@@grahamshillingford8229 The population of Scotland is much the same as Norway, Finland and Ireland. Not really sure why you think this is relevant. It’s how a country looks after its citizens that is important, not its population size. 14 EU member States are smaller in population terms than Scotland, but are all doing just fine.
What a amazing disclosure right on, thank you
Brilliantly explained
It means that we all continue to just be Economic Units for large financial institutions in everything that we do with no stake in the game or investment for our future. Its back to a feudal society in the UK . Our forefathers fought, struggled and often died to give us a better life and futures for ourselves and we are squandering it. Thank you to this channel for highlighting one of the important areas of re take and wealth grab. Call it what it is it wont be rental property its TITHED houses to the new aristocracy .
Would this not be classed as inside or immoral trading. Seeing they'll be acquiring but to let mortgages from their own brand and most likely at low interest rates we'll never see the likes off.
Top man, bang on,
Just like here in Ireland,
Heard last week some institution bought 85 new houses in one go,
It's almost as if the banks have no faith in the £'s ability to maintain its purchasing power, so they're moving into tangible assests
Builders' call their accrued building land..."land banks". Private house ownership has no chance when the banks (and other corporations) have easier access to cash to pay for the house outright at the point of sale. The UK is such a deppressing country.
I subscribed to this channel to get a better insight into building matters that I'm probably never going to put into practice. I'm very pleased to find that my man here is someone to be trusted. Great content!
Explained brilliantly
I think it should be considered a conflict of interest. Banks can't lend to people and then gazump them. All the money from right to buy should be ploughed right back in and right to buy should only be after 20 years of tenancy. Also the points system of getting a council house should be scrapped back to just a waiting list. I know at least one youtube investor who doesn't raise his rents each year if he has a good tenant, which is how it should be - profit gouging is the pits.
BLACKROCK 2.0 Roger you are about 2.5 years behind old boy.
Ha I was thinking exactly the same.
The doctor told him to spread out his rants to keep his blood pressure low. He has a backlog! :D
Better late than never though...The masses are completely asleep at the wheel and if this wakes a few more up to the reality of things then great. The naivete of some on here talking about conspiracy this and that when the evidence is there for all to see if they'd just get their head out their ass and look. There is an all out war being waged on the middle class, they want 2 classes, the rich and the poor. The rich will own everything, the poor will own nothing. Blackrock is the largest shareholder of Lloyds........Go figure.
Nice one Roger. Any thoughts on “cohousing“ like they have in Denmark and LILAC in Leeds? I think they are amazing for community building and affordable homes while keeping environmental impacts to a minimum.
This is why we should be taxed on property not income. As wealth is increasingly concentrated into small groups of landlords, many regular working people will give up. If people have opportunity choked off, things will turn really bad for all of us.
Our local taxes are taxes on property. These can be a struggle for retired folk on reduced income.
Brilliant mate, note house prices are going southbound even worse, makes me think what to do next 😢
I had a landlord call me on a Sunday about a job and they stated that "I should give them a good price, because they are a landlord" and the old "there'll be much more work down the line".
I stupidly went to look at the job as it was around the corner, it turned out the handrail the wanted refitted was connected to a newel post that was simply sitting on the landing floor and screwed to the floor.
Great video thanks
Part of the problem as I see it, the increase in house prices causes a rent increase.
If an investor puts in 100K they will expect 5-10% return per year (depending on inflation and interest rates) So as prices rise expect rents to rise.
There`s lots of dynamics to it.
Banks being more resistive to giving mortgages.
Kids not having favorable credit rating or stable work history, all leads to them either getting the knock back, or an impossibly poor mortgage offer. This forces them into rental sector, so it becomes a case of supply and demand.
At the other end of the scale, when couples split up, they don`t earn enough to keep a property on, so it`s sold and they both end up in rentals also.
The cost of land, remediation, tendering and design, along with the amount of time it takes for planning applications, means developers are not in the market to build cheaper housing.
Very good!
Well said 👏 Sir!❤❤❤
The danger isn't just that they buy new builds to rent out - the danger is now, if you have a mortgage but get behind on your payments, the bank can repossess the house and either rent it back to you or else rent it out to someone else, not only getting the money they're owed but also indefinite money from future rentals too. It shouldn't be allowed.
Good information
As a carpenter I have worked for landlords on their own homes but they do not want to maintain their rental properties.
Well said Roger 👍👍
For once Rodger, I fully agree and can’t argue with anything you said you’ll bang on the money 👍
I don't suppose any bank will want to buy my house (2-bed terrace built 1988) when the tenants leave later this year, but if one comes along I will be happy to sell to them.
I think the banks know that in future the traditional mortgaged home ownership model will be gone due to affordability limits being breached, and they are looking to the future, being private renting for the majority of the population. They need a new income stream, basically.
Home ownership means no mortgage payments when you’ve paid a mortgage off. Renting never stops and increases over time
yes, and many people are unable to do their jobs until retirement age, so they are screwed
What you fail to realise is even if you pay of your (debt pledge) mortgage in french, you still do not own your property the the crown does .. why do you think you have to register it with the HM Land registry? you own nothing, you only have the contractual right to the "air space" ie "title deeds" as in entilitment. you all so do not own your cars, you are the "keeper" the DVLA owns your cars, thats why they can clamp it or tow it away, you gave them consent to do so.. the DVLA is a private business owned by the crown again, god save the king... i think not.
Some people are simply not cut out to be property owners, and lots can happen over the period of a mortgage especially now kids are signing up for 30 years and more.
The odds are growing less and less favorable, and it only takes something like a rise in interest rates, recession, job loss, health conditions, splitting up or a poor credit score, and they`re sunk. Its always been a risk/reward balance, but it`s becoming more and more stacked against people.
We will always need rental stock, how we go about creating it fairly is another matter.
@@GretatheEvilGremlin no, renting is evil, having a secure place to live is the most basic human need especially in a climate like ours
@@utubeape Right. So the property being owned by Sovereign wealth fund/financial institutions/build to rent developers, which is what's happening, will give the secure tenancies that private landlords can't ever do in the longer term.
However you need to accept there's lot's of people who are not good with money, there's lots of people who's skill set will only ever leave them earning a minimum wage, and there's lots of people who pump out more kids than they've had jobs. These folk will never own property.
A nice big landlord tax, and an undeveloped building land tax. That should do the trick.
Exactly. The revenue can then pay for a 7 bed home for a mother of 9 with no job and no partner contributing to bills. Unattached mum can then spend the money on iPhones for all, a 90 inch TV and a range rover.
If I was born into this sht today, it see topping myself as an option.. the climb to a happy life would be impossible, my time not valued, my time not rewarded, my life poor.. why even bother..
Your so right
Great Rant, love it shame the folk in charge will do what ever THEY want
I agree with you that those with sufficient money in concert with those building are able to control supply and keep prices up. As a retired IFA however, I would point out no one needs to pay Inheritance tax. There are a multitude of strategies to legitimately avoid the liability. I think it was Roy Jenkins who derided IHT as the “voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue'.
Great video
Follow the money!
Down the Rabbit Hole ! Sniff your Birth Certificate and see why it’s traded … then you’ll see how the spiders web of corruption keeps the world in debt !
Home ownership has been falling, 71% in 2001, 62% today. There are now 3 million more tenants than twenty years ago. Anyone with a Lloyds and others bank account is directly investing in buy to let, because they are using your money.
Already know it's gonna be a gooden 👍🏻
Right to buy should have been done differently in my view. As the homes were sold at a discount, I cant see how councils could build new to replace those houses without futher money even if that money were specifically allocated for that purpose. There should have been a legal agreement whereby if the house is sold the council would be entitled to levy a CGT on the gain to plug the gap and can only be used for building replacements.
I know sites where Lloyds have brought up 200 plots 😳
if banks are buying houses it feels like a conflict of interest and shoudl be regulated.
Love hearing high end macroeconomic analysis from Roger. He should do more, and yes, I think I would vote for him.
What about good, long term tenants in leveraged property being entitled to the equity, or a portion, accrued during their tenancy. Negotiable. Less, fewer rights, lower rent. More, greater rights but higher rent for a bung towards a deposit.
Good video.
The landlords I know have sold up, they said the legislation is just too much and they cannot get the rent to cover the costs.
This time last year private landlords selling up was up 16%, according to things I read. Risk and reward strategy is always part of anything financially worthwhile, but it`s seriously gone cuckoo over the past 5 years or so.
New fairly airtight home should have heat recovery ventilation. Much more comfortable and no mould issues. But if course there's a cost, do i suspect they're rare.
Many awaken people in comments, encouraging compared to 3 years ago.
Good video Roger, thanks. What could be the solution though...?
They don`t want solutions, they want control. Sovereign wealth funds and financial institutions owning rental housing stock. Home ownership will be taken out of the hands of the average joe. Mid to high earners only thank you. The other option of course is you leave the mortgage to the kids, because it won`t be paid off before you croak!!!!!
good nickname ;) @@GretatheEvilGremlin
Thank you for having turned the background music off.
Roger this is brilliant, however you said Councils should have built new council houses with the proceeds from the sale of the old council houses what to be forced to sell them again at massive discounts. No wonder social housing supply dropped dramatically.
Are Building Societies different..?
Its called Build to Rent (BTR)
Great speech. When are you standing for PM? You've got my vote.
Like the post office scandal and the selling of council housing ..... where has the money gone??.....
Straight into central Government pot!
@@GretatheEvilGremlin lol aye and then splashed out on OVER CHARGED CONTRACTS in which the politicians have family/pal's/or a finger In ...🤔 😀👍
I see an opening in Houseboats, after all we've got plenty of water and building Marinas can't be that difficult. 🇬🇧