TheCountOfNowhere Posted June 20, 2019 Share Posted June 20, 2019 (edited) 7 hours ago, dugsbody said: My apologies, I can now leave the website, since houses in London are cheap and I should go out and buy one. Start a thread.... London prime is crashing so why isn't the cheaper crappy end that people can still just about afford doing the same. Those prine drops put pressure on other semi prime areas which in turn put pressure on non prime areas. I have a look at Clapham area now and again, there are 2 bed flats being listed for 800k and similar flats now down as low as 500k. There are 3 bed flats asking more than 3 bed terraces. None of them affordable to someone on average income. Sales volumes are low, we are facing another sh#tstorm, the market is not really a functioning market. As I said, top marks to damik he called the prime London collapse. I know he wanted to buy despite prices being mad, wonder how he's getting on. Edited June 20, 2019 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
btd1981 Posted June 20, 2019 Share Posted June 20, 2019 "in real terms" is really pointless. Why don't we measure relative to wages, instead of some manipulated basket of conveniently representative goods? Quote Link to comment Share on other sites More sharing options...
eric pebble Posted June 20, 2019 Share Posted June 20, 2019 On 28/04/2019 at 08:36, spyguy said: Almost as everything connected to Brown is crumbling to dust - biggest banks in the world, TCs, high house prices, everyone working in the public sector, free bus pass. Almost like Brown blew the biggest credit bubble in the world outside of Japan. As I said many, many, MANY times on this forum for YEARS........ G Idiot-Broon was the WORST Chancellor & PM this country has EVER known..... He was a TOTAL MORON. The biggest C**T that ever lived. HE DESTROYED MILLIONS of ordinary working peoples' lives. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 20, 2019 Share Posted June 20, 2019 1 hour ago, btd1981 said: "in real terms" is really pointless. Why don't we measure relative to wages, instead of some manipulated basket of conveniently representative goods? Tell the truth!!!!! Are you mad? Look what they are doing to Assange for daring to speak truth and facts. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 20, 2019 Share Posted June 20, 2019 15 hours ago, Si1 said: Charlotte (Lottie) Bodillie: http://propertyhouse.co.uk/meet-phms-newest-recruit/ Daughter of property developing parents. Managed to take a round the world air ticket straight out of university. Nice. Works for some kind of housing marketing agency. Now she's being interviewed in the ft saying house prices are about to rocket, by the FT's property correspondent. Let me guess, dresses 20 years her age. Lottie Bodilly has just bought her first home. After months of searching, the 25-year-old, together with her partner, Jackson, has found a large two-bedroom apartment in a Victorian building in Streatham, south-west London. The couple completed last Friday. The price: just under £500,000. Maibybex Oxbridge or some naice Uni, doing something like EngLit. Some provincial private girl school. Mam housewife/something horsey. Dad a banker or lawyer. Im raising my eyebrosw at a partner called jackson. Mrspys a teacher. All the kids called Jackson (or Jaxson, Jakzon, Jaksoon) are little ucnts. https://houseofcoco.net/girlbossesofgreatbritain-i-cant-adult-today-with-lottie-bodilly-founder-of-the-adult-bible/ https://misssquiggles.com/the-adult-bible/ http://propertyhouse.co.uk/meet-phms-newest-recruit/ We’re very pleased to introduce our new Account Executive, Charlotte Bodilly, who joined the Property House Marketing team two weeks ago. Lottie graduated from the University of the West of England in 2014 after achieving a degree in Business Management and Marketing. After university she spent a year travelling around the world, before returning to the UK and working for a family-run property development company. 500k mortgage. Doomed. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 20, 2019 Share Posted June 20, 2019 34 minutes ago, spyguy said: Let me guess, dresses 20 years her age. Lottie Bodilly has just bought her first home. After months of searching, the 25-year-old, together with her partner, Jackson, has found a large two-bedroom apartment in a Victorian building in Streatham, south-west London. The couple completed last Friday. The price: just under £500,000. Maibybex Oxbridge or some naice Uni, doing something like EngLit. Some provincial private girl school. Mam housewife/something horsey. Dad a banker or lawyer. Im raising my eyebrosw at a partner called jackson. Mrspys a teacher. All the kids called Jackson (or Jaxson, Jakzon, Jaksoon) are little ucnts. https://houseofcoco.net/girlbossesofgreatbritain-i-cant-adult-today-with-lottie-bodilly-founder-of-the-adult-bible/ https://misssquiggles.com/the-adult-bible/ http://propertyhouse.co.uk/meet-phms-newest-recruit/ We’re very pleased to introduce our new Account Executive, Charlotte Bodilly, who joined the Property House Marketing team two weeks ago. Lottie graduated from the University of the West of England in 2014 after achieving a degree in Business Management and Marketing. After university she spent a year travelling around the world, before returning to the UK and working for a family-run property development company. 500k mortgage. Doomed. There are currently around 250 2 bed properties on rightmove for 500k or under. I hope they offered 200k....supply and demand innit. Surprised they had to search for one. You can buy a 2bed Vic conversion for 300k on St Reatham, share of leasehold. There is a new build type flat for 280k that would be better than a conversion. Someone might want to stop them buying before it's too late.... Its all aspirational bills hit of course to convince tarquin and Charlotte to prop up the editors house price imho Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted June 20, 2019 Share Posted June 20, 2019 16 hours ago, Bear Hug said: Nice. It's not just a somewhat biased article, it's a full-on property advert. This may as well be Daily Mail. Same quality of writing but at least DM is easier to read for free. The Telegraph seems to be nosediving past the Mail down to express territory. Last week an article referred to smirking Remainers. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted June 20, 2019 Share Posted June 20, 2019 36 minutes ago, spyguy said: 500k mortgage. Doomed. Nice wodge from the folks on both sides for deposit. Say her and partner are making £100k a year, lots of lenders will do 4.5 joint. Even at 4x they'll be able to get a 5 year fix for under 2.5%/£1800pm. £900 each - easy. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 20, 2019 Share Posted June 20, 2019 (edited) 6 minutes ago, PeanutButter said: . Say her and partner are making £100k a year, lots of lenders will do 4.5 joint. No way, sorry, "accounts executive" - lucky if she's North of 25k Edited June 20, 2019 by Si1 Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 20, 2019 Share Posted June 20, 2019 7 minutes ago, PeanutButter said: Nice wodge from the folks on both sides for deposit. Say her and partner are making £100k a year, lots of lenders will do 4.5 joint. Even at 4x they'll be able to get a 5 year fix for under 2.5%/£1800pm. £900 each - easy. hahahahahahahahahahahahahahaha Shes gone some made up marketing/addy job in London. After a pointless degree at bristol poly nd a year travelling. I doubt either are on anything above 30k. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted June 20, 2019 Share Posted June 20, 2019 1 hour ago, spyguy said: hahahahahahahahahahahahahahaha Shes gone some made up marketing/addy job in London. After a pointless degree at bristol poly nd a year travelling. I doubt either are on anything above 30k. So then BOMAD give more deposit. Simples. Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted June 20, 2019 Share Posted June 20, 2019 1 hour ago, Si1 said: No way, sorry, "accounts executive" - lucky if she's North of 25k I guess I'm skewed from knowing so many young people on way more than that. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 20, 2019 Share Posted June 20, 2019 39 minutes ago, PeanutButter said: I guess I'm skewed from knowing so many young people on way more than that. P'raps Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 20, 2019 Share Posted June 20, 2019 41 minutes ago, PeanutButter said: So then BOMAD give more deposit. Simples. Yes. Parents are property developers / bubble surfers Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 20, 2019 Share Posted June 20, 2019 1 hour ago, PeanutButter said: So then BOMAD give more deposit. Simples. I dont think its that easy. MMR looks at spend, so theyd hand ove their bank accounts and the bank would see that their 20-30k salary is all being spent. Quote Link to comment Share on other sites More sharing options...
highcontrast Posted June 26, 2019 Share Posted June 26, 2019 https://www.google.com/amp/s/www.telegraph.co.uk/news/2019/06/26/record-numbers-people-leaving-london-property-prices-drive-people/amp/ Sorry if off topic but as mentioned in the article knife crime and general crime must be a big reason for wanting/thinking to get out of Dodge? Not a Londoner myself but visit often, so curious as to what Londoners think. The current trial is a great example IMO https://www.bbc.co.uk/news/uk-england-surrey-48771889 Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted June 27, 2019 Share Posted June 27, 2019 7 hours ago, highcontrast said: https://www.google.com/amp/s/www.telegraph.co.uk/news/2019/06/26/record-numbers-people-leaving-london-property-prices-drive-people/amp/ Sorry if off topic but as mentioned in the article knife crime and general crime must be a big reason for wanting/thinking to get out of Dodge? Not a Londoner myself but visit often, so curious as to what Londoners think. The current trial is a great example IMO https://www.bbc.co.uk/news/uk-england-surrey-48771889 Knife crime has no bearing on my life, or on anyone I know. I’m more likely to leave because of the air pollution, the heathrow extension, the tourists, the phone jackings, the commute. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 27, 2019 Share Posted June 27, 2019 9 minutes ago, PeanutButter said: Knife crime has no bearing on my life, or on anyone I know. I’m more likely to leave because of the air pollution, the heathrow extension, the tourists, the phone jackings, the commute. Agree.....London seems safer now than it has for a longtime.....people do fear that the police will not be able to solve minor crimes so sometimes don't bother to report it. Interesting to find out why people are leaving and where they are going.....any stats on that?? Quote Link to comment Share on other sites More sharing options...
HouseSharingIsMyLifeNow Posted June 27, 2019 Share Posted June 27, 2019 I also agree. Not to make light of knife crime, but overall, the number of homicides in London per year has shown a long term downward trend since around 2002/3. Knife crime seemed pretty prevalent when I was a teenager in London in the early noughties as well. Myself and most of my friends growing up were mugged at knife point at least once. It's great it's getting reported on more now, and maybe the increased scrutiny is a factor in the fear of it, but I don't imagine it's a big factor in influencing 30 something's to get out of dodge. The increase in internal migration out of London seems to have happened in line with when house prices started going bananas, and probably an increasing realisation amongst younger people already in London that staying in London is increasingly not worth it in financial terms, alongside with 20-somethings realising that moving to London in the first place may be a losing game: London has always lost older age groups in terms of net internal migration, so some of the increase may be explained by younger people just not moving to London in the first place. There's a map in this article that gives a bit of an idea of where people in London are moving to, at least for 2016/17 (https://www.citymetric.com/politics/five-maps-showing-london-s-population-changing-demographics-languages-immigration-4154). Quote Link to comment Share on other sites More sharing options...
PeanutButter Posted June 27, 2019 Share Posted June 27, 2019 If you ever read the Guardian Let's Move To... column https://www.theguardian.com/money/series/letsmoveto there are often comments btl about awful Londoners moving to nice places and ruining them. It seems to have been going on a long time - and set to continue. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted June 27, 2019 Share Posted June 27, 2019 On 20/06/2019 at 14:42, spyguy said: I dont think its that easy. MMR looks at spend, so theyd hand ove their bank accounts and the bank would see that their 20-30k salary is all being spent. It's not too difficult the bank only looks at your last 6 months spending. For anyone seeking a large mortgage getting their spending in order is now part and parcel of buying a house. Tricks that have been used by the sons/daughters of people I know include using parents cash card for lifestyle spending/holidays, getting parent to buy travelcards and claiming commuting is done by bicycle, getting parents to pay for childcare costs and claiming granny is looking after the kids. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 27, 2019 Share Posted June 27, 2019 34 minutes ago, Confusion of VIs said: . Tricks that have been used by the sons/daughters of people I know include using parents cash card for lifestyle spending/holidays, getting parent to buy travelcards and claiming commuting is done by bicycle, getting parents to pay for childcare costs and claiming granny is looking after the kids. That's quite spectacular. Of course there used to be a long term empirically arrived-at set of mortgage multipliers, that worked at keeping the banks solvent with minimal govt intervention. Hey ho. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 27, 2019 Share Posted June 27, 2019 1 hour ago, Confusion of VIs said: It's not too difficult the bank only looks at your last 6 months spending. For anyone seeking a large mortgage getting their spending in order is now part and parcel of buying a house. Tricks that have been used by the sons/daughters of people I know include using parents cash card for lifestyle spending/holidays, getting parent to buy travelcards and claiming commuting is done by bicycle, getting parents to pay for childcare costs and claiming granny is looking after the kids. Which becomes a very murky position. The are breaching their mortgage contract, which might result in the finance being pulled if they encounter a payment problem. If the parent is party to this, they might also be committing mortgage fraud which could see a large fine levied on the parent. There are large sums involved. The bank wont roll over and let this stuff go. Tehy be after the parents. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 27, 2019 Share Posted June 27, 2019 https://forums.moneysavingexpert.com/showthread.php?t=2845920 Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 27, 2019 Share Posted June 27, 2019 https://www.fca.org.uk/consumers/mortgage-fraud Quote Link to comment Share on other sites More sharing options...
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