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About Ah-so

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    HPC Guru
  • Birthday 07/27/1910

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  1. And flat sales have plummeted: "In July, the number of apartments sold in the capital fell by 47pc compared to 12 months previously, according to figures from Home.co.uk, which analyses data from the Office for National Statistics and property portals." http://www.telegraph.co.uk/property/house-prices/number-flats-sold-london-tumbles-first-time-buyers-priced/ "This slowdown in sales signals that affordability has been crunched and many first-time buyers, who would typically purchase these properties, are sitting on their hands and waiting for a correction in prices. "
  2. Take the £10k pay rise and put the entire lot in your pension, saving £4k in tax and it will allow you to retire that little bit earlier.
  3. We have already discussed these hidden derivatives elsewhere and came to the conclusion that it was basically bullsh1t. It was a real stretch of the definition of derivative.
  4. If you have a paid for home you can definitely do it for less. But if you want to have a couple of holidays a year, restaurant visits, a car and are bringing up a couple of kids, less that £30k would be very tight. At that level, the marginal benefit of each extra pound would still be quite high for me.
  5. You could argue that removing any interest rate risk from Bank pensions is the most appropriate thing to do since it limits the risk of self-interest from rate setters' decisions.
  6. I think I read somewhere that c. £70k is the point where you get the most happiness from money and after that it adds little extra happiness.
  7. "Wilson, representing himself" It just adds to the comedy. Wish I had the time to pop down to Maidstone. Wilson is something of a multi-talented renaissance figure: businessman, landlord, author, boxer, teacher, political candidate, barrister. Unlike Hitler, he doesn't seem to paint.
  8. Vital cost cutting to pay his salary. After all, it's not like the Bank can print its own money, or anything.
  9. Letter From Landlord

    Dear Landlord I will consider accepting a rise in rents as long as you can also demonstrate how you reduced rents when your mortgage costs fell. If you did not, I would be grateful if you could explain what you did with this surplus income and why it cannot be used to cover the modest reduction in your tax relief that occurred in April. Unless you are able to do so I will not be able to accept any further discussion on this matter. However, I note that rental values are actually falling at present, so I am keen to discuss a reduction in rent with you. Yours etc
  10. From what I understand about the Bank's scheme is that it is a career average pension scheme - obviously less generous than a final salary pension scheme but still very generous. The value of the annual contributions is based on what it would cost to buy that future income stream based on today's yield curve. The more lower the gilt yield, the more expensive gilts become and therefore the more they have to pay today to buy that future income. When gilts fall in value and interest rates rise, this contribution level will fall. Run of the mill Bank staff are quite poorly paid compared to the industry they are in so the generous pension helps balance things. But it is worth emphasising that the value of contributions today is only an expression of the guaranteed future annual pension that you can receive. But what the employees cannot do is receive the cash equivalent today. This is probably the same as any other defined benefit scheme that you get in the public sector.
  11. Of course it will be fully covered. The idea that the FSCS will not in reality cover depositors is a theme that keeps on popping up here and it is childish and rather tiresome.
  12. Yes. They are already law. But it would be very unlikely to be retail depositors who pay, but rather bond holders. In fact, you are most likely to get bailed in as a depositor if you have a balance above the FSCS limit and you bank with a small building society that doesn't really issue unsecured bonds or take wholesale deposits.
  13. They took their time working that one out
  14. How do we know that they are not doing this already? HMRC has access to a lot of data
  15. Buy To Let Finance Watch

    No. It's the one that was popular when stamp duty was increased for second properties.