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About Houdini

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  1. The issue will be that most marginal buyer won't be able to pay enough to ensure the outstanding IO mortgage on the property the landlord seriously overpaid for is paid off. After all the market for the last few years has just been the most desperate greatest fools buying in the hope prices continue to rise. I suspect most landlords will never be in a position where they can sell their properties and will now end up in a holding pattern, desperately trying to keep their rowing boat from sinking until a Bank decides enough is enough and makes their move. And remember Natwest have already moved their more worrying customers to a department who will just pull the plug as soon as any opportunity arrives to pull that plug.
  2. Carillion in Crisis

    An interesting comment from Robert Peston here https://blogs.spectator.co.uk/2018/01/carillions-collapse-ends-the-love-affair-between-governments-and-private-contractors/ I'll quote the core argument but I really can't see here keeping things in the public sector solves the issue of how do you delivery things efficiently....
  3. Equally many landlords may not be able to bear the loss especially if (as will be the case) the market value of the property is lower than the outstanding mortgage. That is why I suspect this market change will take a long time to filter through - there will be a lot of crap property sat above the current market hoping for the market to turn before things fall apart.
  4. Equally it may not be worth them moving depending on where you live. My parents could leave their property and walk away with £200,000 or so. Problem is that a good 2 bedroom flat is £550,000 and their 4 bedroom semi is worth £750,000... Sadly all house prices are tied to the size of the mortgage you can get based on the monthly rent. The solution as others have constantly repeated here is to ensure interest only mortgages are priced higher...
  5. I quick glance tells me that motorpoint the big second hand car chain has 330 astras for sale or 1.5% of last years registrations
  6. Due to when my wife goes Christmas shopping my Xmas bill was paid off on December 22nd...
  7. What/who will collapse first in 2018

    Mountain Warehouse seems to be well run - slow expansion as appropriate sites become available rather than massive expansion. I discovered this week that Fat Face now has over 200 shops including a lot of places that are strange choices - Durhamborn will know what I mean when I say Barnard Castle.... @spyguy that one looks to be as much insane new rent levels and a break point that allows them to walk away...
  8. Buy To Let Finance Watch

    History sadly (and only currently) shows that you statement is wrong as the one way trend / bet on house prices has means that for the past 20 years there has been little risk in underpricing io btl loans. The fact that history is not a good guide for the future means that challenger banks won’t understand this until it’s too late.
  9. Buy To Let Finance Watch

    I Don’t know any legal reason why they can’t give notice if they believe the money received as an empty property after lost rent would be greater than the tenanted property. equally I don’t think they have any reason to recover any more than necessary so it wouldnt surprise me if over time the reserve price dropped while the tenants were allowed to stay in situ. So if you aren’t in a hurry and like the location it may be worth keeping an eye on it.
  10. Pension modelling

    The thing is that it’s achievable (or at least it was) if you didn’t have kids. I know people who did it by throwing £40k into a pension for 15 years when total income was £65,000. Then again I have children and wouldn’t miss them for that life. And I’m saying that as someone about to move from a £120k a year contract to one paying more than that. the important thing is understanding your real worth when working and ensuring you are either earning it or enjoying your time off
  11. It’s easily achievable Hmrc already have access to bank account information and can see how much has been charged in interest. The question you need to ask is whether it was as worthwhile to chase people up in 2016 or in 2018. In 2016 it was likely that interest fully offset the profit now that isn’t the case and hence it’s now very interesting
  12. The entertainer has virtually no debt and is still owned by the founder and his family - I would go and look at the accounts...
  13. Peak Kite flying?

    The house is worth £250k-£290k based on the prices on the square behind - prices between the have always roughly matched with the houses on the square trading a bit of space for lack of noise. Basically they want to charge £200,000 for fancy paint and the fact someone has knocked a wall down which I'm not sure was a great idea anyway...
  14. Peak Kite flying?

    Being bored I'm looking at rightmove for a laugh and found this http://www.rightmove.co.uk/property-for-sale/property-70670462.html Sold in September 2015 for £221,500 https://houseprices.io/?q=67+woodland+road%2C+darlington and its on the main road into central Darlington directly opposite the hospital. I don't think there is a time of day when traffic won't be going past.