Matthew James

Registered with Property118.com
Tuesday 18th June 2013


Latest Comments

Total Number of Property118 Comments: 22

Matthew James

0:12 AM, 9th October 2013, About 8 years ago

My property investment career - please help me to make some choices

Reply to the comment left by "Geezer Butler" at "08/10/2013 - 19:53":

Hi Geezer,

If you hail from sunny Bazra, there's a chance we have at least been to the same pubs etc! I grew up in Barry so know it, and the area very well. Would be good to chat about this next time I'm back home. I have a good mate who is also interested in the local market there. What part of Barry are you based?

I agree with what you are saying, but given that my big purchases are in popular areas of London, the voids are relatively very low. I had about 20 people come to see the flat in Acton last time it was free, all in a position to rent it. Dodgy tenants is a bigger risk, but I've vetted them myself and ever since I had some nightmare ones back along, I've been fortunate to have very good ones in the last 5 years.... Read More

Matthew James

18:51 PM, 8th October 2013, About 8 years ago

My property investment career - please help me to make some choices

Reply to the comment left by "Richard Knight" at "08/10/2013 - 09:04":

Hi Richard,

Your advice is sound and so are the figures. I've been experimenting with Excel and came to a very similar conclusion that the lack of income from southern properties is evened out by the higher equity gain in the medium to long term. The less properties idea is better from an admin perspective, but means I need to keep (or in my case, find!) the 9-5 to augment income and put on hold the dream of being a property developer.

I think that if I were totally immersed in the 'property scene', I would be more exposed to opportunities to expand the portfolio than if I just but a couple more houses now and dabble in my spare time. Right now, I'm leaning towards the latter as I can't see a low risk option to go full time, but I'm always open to ideas!... Read More

Matthew James

18:30 PM, 8th October 2013, About 8 years ago

Now I’m worried Birmingham Midshires will raise their Tracker margins

I think all possible changes which could represent a disaster to your income need to be viewed seriously. I'm not that affected (yet) but I imagine there are many landlords that would be if there was a 2% hike across the board.

Even if people could manage the 2% hike, what's to stop this happening again? It's as much about the precedent that people can broadly describe a policy as something (a tracker) and then include a complete contradiction in the T&C's. It's like selling sugar free products and then having in the ingredients "If we think it tastes better, we may add sugar when we feel like".

I understand there are many time served financial folk that think this won't happen, but how many people could see the sub prime disaster which was going on, on a continental scale?

@Mark, as much as I agree with your idea that landlords should unite, financially, to fight this battle, I think there is a clear case for a class action to use existing powers to stop lenders selling contradictory products, and we should not need to fund something so obvious? (BTW, I'm a paying subscriber for P118, great site!)... Read More

Matthew James

22:24 PM, 7th October 2013, About 8 years ago

My property investment career - please help me to make some choices

PPP Look interesting. I'll have a good read of the site tomorrow. Has anyone else had any dealings with PPP?

Thanks!... Read More

Matthew James

21:17 PM, 7th October 2013, About 8 years ago

Now I’m worried Birmingham Midshires will raise their Tracker margins

Hi All,

I've got a BM mortgage on my domicile (OK, it's not a BTL, but I also have a similar one with the Bank of Scotland). I too enjoy a great interest rate which is 1% above BoE base rate. I'm concerned that there will be a ground swell of activity which encourages other lenders to follow suit and before we know it, it will become de facto for every lender to execute the minute small print and stitch all their customers whenever it suits them.

I say this needs to be nipped in the bud sooner rather than later.

Correct me if I'm wrong, but this feels like mis-selling in the same sense as the disastrous tactics of PPI? Since when did any of us have it explained that the capped interest above BoE is not actually capped and subject to the whims, and extraordinarily, can influenced by competitor lender activities?!

I for one would testify that the financial advisor explained that the capped rate was fixed above BoE for the term of the loan, and not subject to change. Given that this contradicts the small print, this alone should manifest as a selling misdemeanour under legal scrutiny?... Read More