James Fraser

Registered with Property118.com
Wednesday 2nd September 2015


Latest Comments

Total Number of Property118 Comments: 235

James Fraser

21:29 PM, 9th May 2022, About 2 weeks ago

Bank Base rate kicking us when we're down

Reply to the comment left by Gromit at 09/05/2022 - 21:22
Oh come now, Gromit, to be fair to Dave he hasn’t even got as far as trying to rubbish another point of view - all he’s done so far is stick his fingers in his ears and go ‘lalalalalalal-la-la-laaaaaaaaaa’ etc.... Read More

James Fraser

21:02 PM, 9th May 2022, About 2 weeks ago

Bank Base rate kicking us when we're down

Reply to the comment left by Daveknowstheregs at 09/05/2022 - 20:50
Well I've got a couple of bananas here if you want them, Dave. Any chance of you answering any of my previous points? Y'know, maybe using a rational and referenceable fact, or even just an informed counter-argument?? Let's start with 'Does the rising interest rate environment make things better or (unnecessarily) worse for tenants? Give examples with particular reference to Section 24'.... Read More

James Fraser

9:25 AM, 9th May 2022, About 2 weeks ago

Bank Base rate kicking us when we're down

Reply to the comment left by Daveknowstheregs at 09/05/2022 - 09:21Or you could deal with the provable facts rather than your invented and misguided hypothesis?... Read More

James Fraser

9:18 AM, 9th May 2022, About 2 weeks ago

Bank Base rate kicking us when we're down

Reply to the comment left by Neil Patterson at 09/05/2022 - 09:00
Indeed Neil. Back to the subject.

I had never, ever worried about the BOE. My very earliest investment purchase was during the 15% era, so I’ve seen it all. Base rates come and go and you adjust accordingly, either more to the bank or more to the tax man. But S24 has crushed that. As rates rise it becomes impossible to survive in an environment where they’re not treated as a legitimate cost. We know tenants have faced higher rents and homelessness as landlords are forced to react to this stupidity, but now the rising rates will literally cause greater homelessness as pressure on landlords to sell up increases. More and more innocent tenant families will become victims of the BOE decisions where rent prices and evictions are concerned as landlords are left with no other choice but to escape. Scrap S24, and none of this matters quite so much.... Read More

James Fraser

8:50 AM, 9th May 2022, About 2 weeks ago

Bank Base rate kicking us when we're down

Reply to the comment left by Daveknowstheregs at 09/05/2022 - 07:50
You’re an absolute prize-winner, Dave. So many false assumptions, so little knowledge of facts.

1. There has never ever been a situation, ever, where landlords are buying 90% of the housing stock, let alone for cash. In fact, even at the very over-subscribed, runaway peak of all landlord purchasing in 2002, around 16% of purchases were to investors (some of whom were bringing back derelict stock, as I do). Your example is pointless as it could never happen. In fact, the reality of the situation that the media never want to report on is that your figures are almost precisely the wrong way round - 90% of homes currently go to owners outbidding landlords, with the tenth one hotly contested between owners and those trying to supply the rental market.

2. Since you’re such a genius with the ol’ common sense, can you quantify what happens to rents and homelessness when Section 24 squeezes supply?

3. If there were no landlords at all, what happens to renters, be they by necessity or choice?

4. If there were no landlords at all, there would be very little if any discernible effect on house prices. The knowledgeable reports, from NHPAU and the LSE, conclude this. House prices in this country were doubling on average every 7.5 years since 1948 (ONS), or a whole half a century before retail BTL had even started! Plus, we’re currently witnessing one of the biggest landlord sell-offs in history at 11,000 properties a month (don’t worry, no tenants at all were disrupted by this) and what is happening to prices? Yes that’s right Dave, they’re - err - rising at their fastest rate ever! How does that sit with your little theory?... Read More