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Lloyds Banking Group to become a private landlord


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  • 3 weeks later...
On 3/6/2021 at 7:22 PM, Curious1 said:

Lloyds banking group plans to buy and rent out housing stock across the UK, and aims to have tenants by the end of the year:

 

https://www.ft.com/content/0f4f74dc-7e32-448d-9eb0-9fb264a3c8c7

 

The chilling words of Klaus Schwab come to mind when reading the above - 'You will own nothing and be happy'.

 

 

 

Paywalled link, can't read article.

https://www.propertyreporter.co.uk/landlords/project-generation-lloyds-bank-to-become-private-landlord.html

 

My take on this?

 

As well as 'buying and renting out existing properties', I wonder if they're expecting a lot of homeowners to be 'defaulting' on their mortgage payments sometime soon?

 

Its been explained before by people like David Icke how this 'credit scam' works - in a nutshell, banks loan money created out of thin air, so people can buy houses, then when these people can't afford to make repayments because of interest, the banks seize the property, thus gaining tangible collateral.

 

I must admit I do not know what happens to such properties in these circumstances, perhaps the banks just sell them off to developers or via auctions (thus keeping the cycle moving, as more people take on debt to buy these houses).

 

With the rental prices skyrocketing of late, perhaps this particular bank has an eye on taking a different approach?

 

If the economy crashes at some point in the near future - which it undoubtedly will - banks will be acquiring a lot of assets in the form of homes. Fewer people will be able to afford to buy homes, so the housing 'market' will be reduced to speculators, investors and wealthier landlords looking to grow their 'portfolio'.

 

If the banks then become landlords, the housing market can be controlled, and banks can make a nice income from renting out these properties, rather than just selling them off on the cheap at auction.

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3 minutes ago, metak88 said:

 

Thanks, it makes for interesting reading, and pretty much confirms what I was thinking myself.

 

Quote
The radical plan highlights the pressure on retail banks to find ways to boost their income as low rates squeeze the profit margins on their traditional lending businesses.
As well as providing direct benefits through rental yield and house price growth, the bank is hoping the move will boost its existing businesses, for example by providing an opportunity to cross-sell rental deposit loans or insurance.

 

Snap up most of the housing stock in the country when people default on their mortage payments, then rent the properties back to them.

 

Oh and yeah, make it so potential renters need to take out a loan so they can pay for their rental deposit.

 

This is just another step on the path to 'abolishing private property ownership'...

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  • 1 month later...
On 3/26/2021 at 1:32 PM, Grumpy Owl said:

Its been explained before by people like David Icke how this 'credit scam' works - in a nutshell, banks loan money created out of thin air, so people can buy houses, then when these people can't afford to make repayments because of interest, the banks seize the property, thus gaining tangible collateral.

 

I must admit I do not know what happens to such properties in these circumstances, perhaps the banks just sell them off to developers or via auctions (thus keeping the cycle moving, as more people take on debt to buy these houses).

 

 

After the 2008 financial crisis, there were massive defaults on loan payments in the USA and not surprisingly these properties were seized by the banks. Of course they wanted to sell them but many just decayed and became practically worthless lots.  In other cases they were sold for a price less than the loans taken on them, so the banks lost some of their equity.

 

 I assume in some cases it was the owners themselves who took the financial hit. 

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2 minutes ago, Claude said:

In other cases they were sold for a price less than the loans taken on them, so the banks lost some of their equity.

 

It can be argued that the bank 'always wins'.

 

The loan taken out on the property was money that never existed, the bank lent nothing but money created by entering numbers into a computer.

 

Whatever they get in return for the assets that get seized is 'profit'. And no doubt some assets get sold off 'on the cheap' to their buddies to then make further profits on.

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  • 2 weeks later...

People should write to their MPs about this one. It is very significant. It means that every day folk who have to work for a living and have limited funds now have to compete against a bank with unlimited, printed and fractional reserve funds......

 

All part of the banksters wanting to own it all......

 

Young people won't have a chance!

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