I’ve Had Enough! Landlord with 150 properties quits rental sector

"If you're into buy to let - invest in Scotland"
Now that's something I never expected anyone to say.

He's being flippant !

Strange comment about Scotland. Flippant or joking or whatever.

ROI of BTL in Scotland is profitable. Example….2 bed Flat bought for £68k: mortgage payment of £88, rent received £725 = nice profit. Only downside is a leftist government hell-bent on destroying BTL.

Wow, the local councils had better get some camp beds in 🫤

Invest in Scotland? You'd be mad to get into the buy to let market in Scotland these days!!

Been Selling all mine bar a few that will be mortgage free had 85 at one point had enough but evicting to sell is becoming a nightmare taking up to 9 months there arnt any homes for these people to go

150 properties that’s what happened to B2L making a nonsense out of the Business.
All started about 26 years ago with B2L Mortgage’s I believe Woolwich was one of the first, of Course the 1988 Act & S.21 was 36 years ago, which they now want removed to destroy the business even further.
Before that we bought properties with Commercial Loans and always paying about 8%. The BoE done enormous damage bringing down Base Rates so ridiculously low abolishing Savers, forcing people to buy property that they didn’t necessarily need or want.
The B2L racket put the Minimum Deposit down on a property then after a few months re value get some equity out put that on another and so on. I see one guy so over 300 properties all over the Country didn’t care what condition they were in just rent them out. All completely tax efficient and loan interest tax deductible. Regulation’s weren’t there and still not there in some parts but we got hammered trying to comply and playing by normal rules.
That’s what happened no wonder some couldn’t buy a home when others had 300, that’s what happened to
Rental Market and Buy to Let.

My pcl properties let through top level agents will see me through , I’m betting most of his are dumps in crap areas

Whilst this is a 'headline' story, the added regulation ultimately will reduce stock and that helps no one. I just had a ridiculous notice from The London Borough of Hillingdon, for works following complaints from a tenant, this property had only been mortgaged 6 months earlier so passed the survey. Had a similar issue, and my agents say its all following government adverts, from Windsor and Maidenhead Council, the Officer in this case was less of a tenant supporting fellow (that's my polite wording!) and told the tenant the truth, there is nothing wrong. Of course the tenant forgot how generous I was at the last rent review!

one more comment! I am very active in the sale of life tenancies, there has never been more interest in them, the tenants are responsible to maintain and that seems to be a big attraction, one can understand why.
best wishes
Guy

Bingo!!
Your all in luck then, if that what he is saying to do👍
I have access to an off market, 20 property tenanted portfolio for sale in Scotland if anyone is interested, for sale as a income producing package, all in same town so easy managed, at present it’s self managed but you can be self manage or by agency
Message me if interested and can provide proof of funds
If this one sells okay landlord is also looking at selling another 10 + 2 x HMO’s

As a landlord, I am unable to comment on his reasons for quitting and/or government 'common' law Policy. However in 2 test cases: personally, it was discovered that tenants and landlords did not have Implied statute for customer protection and/or due processs when things go wrong in breach of good faith agreements -believer/nonbeliever source God focus and the law of the land fused loop (Implied statute + confirmed confimed by common law top Industry solicitors) -- compared against world-class contract systems fused loop (Implied statute +common law).
Instead of a happy marriage, the divided we stand power groups have turn against landlords unfairly in breach of good faith agreements in a system's failure as the Implied statute + common law loop has not been FUSED, requiring another amended statue in an ACT of parliament whether the common law is lawful/unlawful for 2 sides: 1) The power groups common law side and 2) The Implied statute side for tenants and landlords protection noted missing across the UK in the common law unaccountability saga. Clarification is impossible

The Courts seemingly requires the believer/non believer God’s focus truth ‘top-down’ plan: Richard Heaton’s talk at the Institute of Advanced Legal Studies on common law and statute law, but with the missing fusion ‘MISTAKE’ for the law of the land (Implied statute + common law) – existing in world-class comparable systems to protect customers, there must be some doubt about the integrity of our ‘U’-turn common law solicitors UK wide. Unfortunately, the Private Tenancy Bill and/or one sided ‘PropertyMark’ common law cannot deliver unless there are 2 sides: 1) common law and 2) The implied statute for customer care by PropertyMark.

William, my friend have you been to the Pub and that’s only implied.

Andrew it looks like we have open ended Tenancies already.
I have Contracts ended trying for weeks to communicate with them, don’t answer or return phone calls, ignore letters through the door and emails. It looks like a conspiracy as none of the 5 responded someone must be advising them.
How do you increase the rent when they won’t make themselves a available, this is what you can all expect when Section 21 is gone, where is our remedy. Thank you Mr Michael Gove you are full of it.

Micheal
Sounds like you need possession friend ?

I am not at loggerheads yet and careful not to rock the boat.
I understand they have an extra person staying there that they brought in, so I do need a Contract to Regularise the let and must comply with Right 2 Rent check and share codes etc

Yes I understand but Tenants do move about come and go especially on joint & several Tenancy’s, so when there’s a change of occupancy a new Contract is required.

Before anyone actually believes anything, please Google the name of the guy in the article. You'd be surprised.

He even sells properties in Scotland without the home report, claiming it's because they're part of a portfolio. There's no such exception in the law.

To not mention that he got sued by so many people, judges started to have hearings for multiple cases at a time.

Just read about him Andreea. I would say that he has to sell as he has massively over leveraged himself and now rates have gone up he will go bust.
I hope that he has been successful in other areas or there will be only one direction of travel for him!

As a suffering landlord, I cannot comment as the top civil service refuse to reply under the Freedom of Information ACT. But with comparables and failure in fused loop (Implied statute +common law), the customers' tenants and landlords do not have customers' protection because of a common law Policy failure in the system. Instead of a fused loop, the unlawful common law power groups--top-industry solicitors or politicians or ‘woke’ (Letting agents, Property Mark, Landlord Law, SAL, NRLA, solicitors, media groups (Mashroom/ NRLA/Landlord Law), course providers), refuse landlord protection or due processes when things go wrong. The best practice plan has been turned upside down. Study common law and implied statute good faith agreements. The Communities' common law element is incomplete deliveries are unlawful, unless there is a fused loop (common law + Implied law) and/or (implied law Statute + common law).

The Courts seemingly requires the believer/non believer God’s focus truth ‘top-down’ plan: Richard Heaton’s talk at the Institute of Advanced Legal Studies on common law and statute law, but with the missing fusion ‘MISTAKE’ for the law of the land (Implied statute + common law) the government seems to have simply washed their hands of landlords as the answer would be go for another amended statute Act of Parliament needed to make business credibility (1 side common law and th other side Implied statute). As a Landlord, I am perfectly withing my Rights to TERMINATE all all common law policies for repudiatory breaches as the very core of all good faith agreements have been wiped out as the out-of-control groups cannot be trusted to Deliver fair trading in high percentage of negligent cases

And the