Cost to build: 10m Sale price: 3.4m - the real face of deflation?

Mail: Scotland’s most expensive modern home that backs on to Gleneagles is up for sale for £3.4million

The property had originally cost £10million to build and is thought to be Scotland's most expensive modern home Built in 2007, it boasts a gymnasium, cinema, spa, a two-bedroom house, billiards room and a man-made lake Its previous owner is former Rangers FC shareholder Graham Gillespie who went bankrupt in 2012

Posted by hpwatcher @ 07:01 PM 2 Comments

On The Market opens tomorrow

Guardian: New property portal challenges duopoly of Rightmove and Zoopla

Homeowners who want to sell their properties are being warned that from tomorrow they could miss out on potential buyers, as thousands of estate agents will stop listing homes on either Rightmove or Zoopla. A serious challenger to the two sites,, goes live on Monday and agents who sign up to it will do so on the condition that they stop listing on one of the other two property portals. Between them Rightmove and Zoopla get 100m hits a month. How will this site impact the current market?

Posted by debtserf @ 12:13 PM 6 Comments

Saturday, Jan 24, 2015

What is in store when we follow suit, as promised by Carney Mortgage interest rates: new historic all-time low

Interest rates on the Swiss mortgage market continue to drop. The year 2014 started out with a surprise: in the first quarter of the year, the interest rates for fixed-rate mortgages sank again – after an interim high in the previous year. - 10-year fixed-rate mortgages started at 2.7 percent in January 2014 and reached a new, historic low of 1.8 percent by the end of the year. - 5-year fixed-rate mortgages exhibited a similar curve. Their interest rates were at 1.8 percent at the beginning of the year and likewise dropped to an all-time low of 1.3 percent at the end of December. They currently are at the same level as 1-year fixed-rate mortgages.

Posted by libertas @ 06:34 PM 0 Comments

Mark Carney opens window for rate cut + QE

Telegraph: Mark Carney warns of liquidity storm as global currency system turns upside down

Quote: The Governor vowed to bring inflation back to its 2pc target after it dropped to 0.5pc in December, and may soon go negative by some estimates. "We have a very low inflation environment right now, largely caused by commodity prices," he said. Mr Carney said the Bank will "look through" the latest dip but do WHATEVER IT TAKES to meet its mandate over the next two years. "WE HAVE THE MEANS, AND THE WILL, and the responsibility (Moral high horse) to do it, and WE WILL DO IT. People can rely on that," he said. And for all those of you banking on rate rise and house price crash, it ain't gonna happen for a good few years yet. 1992 & 2008 only happen every 17yrs or so.

Posted by libertas @ 06:25 PM 7 Comments

Friday, Jan 23, 2015

The great rotation becomes exponential

Uk.investing: US Dollar Index spikes to 95. 120 next? Dow 25,000 here we come

The Swiss set it off. Now EU QE has set the tone for the next move. It is however clear that €1tn will not solve Europe's dissipative forces, demonstrating that further easing is on the way, and Euro weakness has a way to go. Some say it needs €3tn, but is that figure not exponential without Eurozone wide debt pooling that Germany will never agree to? And so this spike in the US Dollar index, soaring Sterling, Krona, Swissie & stocks have a way to go, with Eurozone bond holders continuing to position themselves for Eurozone collapse by investing in the bonds of stronger EU economies. London property, from Euroland, looks a great investment for wealthy Europeans who require an EU base & relatively low taxes, with values rising a few percent a day now for them as the Euro plummets.

Posted by libertas @ 01:23 PM 21 Comments

The Great Unwinding

MoneyWeek: UK house prices could fall 50%

"We’ve seen price falls in the housing market in the past in the early ‘90s and they went down 50%, and I think that we’re at the start of that kind of decline now – as I think, indeed, fairly soon we will be at the start of that in the stock market as well. As I say, I’m not depressed about this, because it’s just something that we have to go through to get to reality." Bold prediction, but we deported reality from these shores a long time ago, and I'm not sure she will ever be allowed back in.

Posted by debtserf @ 12:07 PM 13 Comments

Thursday, Jan 22, 2015

Journalist forgets to take his medication

Telegraph: The Tories need to make a fantastic offer to win the election - here's a suggestion

"Sometimes, the best ideas are the oldest, or at least turbo-charged versions of Eighties policies. The Tories should pledge to launch a great council house giveaway – not a mere sale – if they are elected. Anyone who lives in social housing, including those owned by local associations, and who has been in work for the past year should be gifted their council home ... Admittedly, in some ways the policy would be grotesquely unfair. Most people have had to work terribly hard for their homes; yet millions would suddenly be given one for free. It would not directly help the growing number of poor, private renters on housing benefit – but then Help to Buy was equally “unfair”, yet was a huge success. The advantages of a housing giveaway far outweigh the downsides."

Posted by quiet guy @ 09:27 PM 8 Comments

Landlord taking the mick

Guardian: German court allows upright urination

Renting is fun.

Posted by chrisch @ 04:13 PM 1 Comments


Daily Mail: Lender accused of rip-off over buy-to-let deals: Building society accused of raising rates on a 'whim' to boost its coffers

A building society illegally ramped up interest rates for thousands of its buy-to-let customers on a ‘whim’ to boost its coffers, a court heard yesterday. West Bromwich Building Society is accused of ripping off landlords with tracker mortgages by increasing their rates by two percentage points without warning. Tracker mortgages are supposed to follow the Bank of England’s base rate, which has remained at an historic low of 0.5 per cent for almost six years. But the building society shocked customers when they ramped up their rates in December 2013, pushing some from 1.99 per cent above the base rate to 3.99 per cent.

Posted by khards @ 07:59 AM 4 Comments

I am waiting for the 15-20yr fix (Its coming)

This is Money: Nationwide BS launches cheapest ever ten-year fixed rate mortgage at just 2.84%

People here completely fail to understand how profound these low rates are. People are buying homes and paying maybe 30% less than rental on deals like this, with half their payments being re-payments. Plus, the fix means rates do not rise, yet rent rises each yr. Meanwhile debtserf sits on the sidelines paying somebody else's mortgage, supporting buy to let, but he could fix payments for 15yrs, after which time he would own probably 60% of his home. But for those thinking about taking the plunge, variable rates are absolutely plunging. Ours is 1.3% plus base rate. Soon as mortgage providers realise that the next BOE move is DOWN to 0.25% or lower if there is a panic, we will start seeing total flattening of the yield curve and fixed rates better than this, fixed for 15, 20 and even 30yr

Posted by libertas @ 06:50 AM 19 Comments

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