Some years back, we ventured into the realm of James O'Brien, the outspoken LBC radio presenter known for his fearless approach to contentious issues. At the time, O'Brien was fervently condemning buy-to-let property investors, accusing them of inflating rent prices and obstructing the younger generation's path to homeownership. However, our revelation about O'Brien's involvement in the buy-to-let market left many across the nation shocked and bewildered. The Big Retort
Moses on Mortgages
In 2014, LBC’s James O'Brien engaged in a spirited on-air
exchange with the Archbishop of Canterbury, Justin Welby, focusing on the
Church's land ownership and its impact on tenants. O'Brien's Moses-like critique implied
that God had ventured into the realm of demon buy-to-let landlords.
O'Brien's relentless sermon
O'Brien's relentless sermon on buy-to-let painted landlords as the culprits behind housing unaffordability and skyrocketing rental costs. In his view, there were demons lurking within the whole sordid property system.
St James passionately singled out pensioner investors. Igniting a heated on-air debate, O'Brien ranted: “If we’d have invented this [buy-to-let] system now and tried to sell it to the British public, they’d have chased us out of the country. Yeah… what we’re gonna do… we’re gonna create a system in which people have already got a lot of money; they will 'sort' of buy a house. But they’ll borrow a bunch of cash to buy it! You who have got less than them, you’re gonna pay their mortgage for them. [Smiling inanely in his Podcast] Okay!"
Significantly he added: " Is
everybody cool with that - yeah...? Rich bloke here, already got a house. Got a
bit of money in the bank! Uses it… uses it to get a - put a - deposit in a
flat. You! You’re earning enough to pay a mortgage, but you haven’t got a lump
sum to pay the deposit on-- So you’re gonna buy him another house! Is that
okay! You’re just gonna buy him a flat...? By living in it and paying for the
privilege. (Smiles) Vote me!”
Vote me indeed. First-time buyers were ‘nowhere near being
able to afford’ to purchase O’Brien’s former Queen’s Park home - and even if
they could, they couldn't - because James held on to it to rent it out.
Begone, Satan!
Our revelation that O'Brien was both an outspoken critic and also a secret player in the buy-to-let market came as a shock to many. Archbishop Welby though seemed unaware of it when he was pushed by O'Brien into defending God's right to rent for profit. It added an intriguing layer to our story.
While lambasting others for their involvement
in buy-to-let, we revealed that O'Brien had retained his former home in Queen's Park as a
buy-to-let. All while moving on to pastures new in buttered-parsnips Chiswick -
a move often dubbed 'rent-to-buy' in buy-to-let jargon.
Property Investment
Details
O'Brien's former property in Queen's Park was prominently advertised for rent at a substantial monthly price. While he claimed to be living there making much-needed improvements to get planning permission. It was eventually sold in 2013, netting him a considerable profit. This then allowed him one year later to sit in front of God’s property managing agent Archbishop Justin Welby and point the moral finger and condemn the rest of the buy-to-let flock too.
The Rachman of the Airwaves
While it might not be entirely fair to compare O'Brien the Prophet
from Ampleforth to notorious landlords like *Rachman, he undoubtedly profited
from his retention of his then former home - for five and a half years. Given his
past experience as a buy-to-let landlord, which he did not confess to the
Archbishop Justin Welby, or his listeners, his vocal criticism of buy-to-let
investors seemed somewhat dubious. Our report raised questions about the
consistency of his stance and whether his critiques might be perceived as
hypocritical, given his substantial financial gains from buy-to-let. Our estimates
suggested that he may have earned well over a million pounds from his property
investment endeavours. It does seem somewhat ironic, doesn't it?
Buy-to-Let on
Damascus Road
In light of James O'Brien's history in the buy-to-let market, this
story prompts us to re-evaluate the consistency and integrity of some of his
viewpoints, surely. While he once profited from buy-to-let, he now vehemently argues
against it. A transformation akin to Paul's conversion on the Road to Damascus.
It reminds us that, while he can significantly influence public opinions and
positions, O’Brien’s personal involvement in buy-to-let also leads him to conveniently
forget his own past as a demon landlord. A past from which he profited, hugely. Is everybody cool with
that?
[*Perec "Peter" Rachman (16 August 1919 – 29 November 1962) was a Polish-born landlord He operated in Notting Hill, London, England in the 1950s and early 1960s. He became notorious for his exploitation of his tenants, with the word "Rachmanism" entering the Oxford English Dictionary as a synonym for the exploitation and intimidation of tenants.]
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