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House Price Crash Forum

Bott

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About Bott

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  1. Hi all, I am a british expat living and working in dubai. For the first time ever I am able to save up some money, not much but enough for a 10 per cent deposit back home when things get sensible... anyway the Dirhams i have seem to be continually being devalued against the pound. I thought the pound was very weak or was heading towards being weak. Now I am a numpty so be gentle with me. Also I heard that the AED is pegged to the dollar. Why is this? and is there any chance of this arrangement changing in the near future. I will probably be out here for a good few years so don't mind saving and waiting for the exchange rate to go my way. Any advice would be greatly appreciated as well as any thoughts on the dubai economy. Cheers Botty
  2. hey all, I am currently working in Dubai and seem to be saving money up for the first time in my life! woohoo anyway, i want to know whether i should convert it to pounds in the summer or should i hang fire and wait for the exchange rate to be more accommodating? I hear (i am an economics numpty so be gentle with me) that the AED is tied to the dollar thereby making it extremely weak at the moment, why is this? and is there any chance they ditch this arrangement in the near future (say next 2 or 3 years) any advice and observations about the economy in the UAE would be appreciated as well Many thanks Botty
  3. didn't he win the tour de france 5 times? sorry. coat is being retrieved as we speak
  4. this is one of my guilty pleasures i am afraid.. if only cos, unlike the property porn progs, they include terraces of 50 K in absolute shiteholes. anyway watched it the other day and they had 2 complete muppets presenting it, i mean different ones from the usual 2. They made martin and the bint seem like, well, someone who knew what they were talking about.
  5. Hats off to the Alvinator! may i suggest a HPC "celebrity" of the week award for someone in a position of some influence telling it like it is? well tough cos i have!
  6. Hello all, i posted the other day about sending an email to ian mccartney and getting a letter back asking for details. Here is the letter i have put together. I have emailed the money programme and asked for the transmission date and cheekily asked for a copy of the program to be sent to my mp. Anyway probably tilting at windmills and all that but any editorial comments (and grammatical!!)will be gladly received!! Dear Mr. McCartney, Thank you very much for you swift reply and request for more information. I shall try to be brief because I know you are a busy man. I am a primary school teacher and have found to my horror that I am unable and unwilling to commit myself to a huge mortgage to buy, a possibly, overpriced house. I am also unwilling to purchase 50% of a house as in various “shared equity” schemes as they seem designed to simply “prop up” the market at an artificial high. I believe the main reason for the “crazy” increases in price over the last 2/3 years, in this area especially, is because of the current mania in speculating in property and the craze in BTL. However, after watching the money programme (I am sorry I can’t recall the broadcast date) which investigated the increase in self certification mortgages and the “lie-to buy” ethos that some estate agents seemed to advocate, I was horrified to see that FTBers were being advised to lie about their salary to get the required mortgage amount. This was deemed acceptable practice because of the historically low interest rates making them “affordable” and the “fact” that house only go up in value. The Money Programmes findings seemed to suggest that a figure of 30% of new mortgages were self certificate rather than the 1% that the mortgage lenders said was the true figure! If this is indeed true, then my suggestion of “massive mortgage fraud” would not be wide of the mark! May I suggest that you look deeper into this scandal as it is simply one factor that is driving this house price inflation that is stopping hard working families from buying a home and I believe is detrimental to the economy as a whole, who actually benefits from high house prices? Would it be possible for the Inland Revenue to investigate mortgage applications and if there is a discrepancy in the tax paid then they could endeavour to recover any tax owed. I believe that this would stop people lying about their salaries in one swift stroke. I do apologise, as I am patently not an expert in these matters. I am just frustrated that at 34 years old I am unable to move on in my life and just refuse to buy into the “pyramid selling scheme” that the housing market seems to be at the moment. I do also appreciate that this could open up a can of worms that possibly an incumbent government simply do not want opening. I believe that given a level playing field the market will correct itself when sanity prevails, I just hope that this “socialist” government do not try and prop up the whole thing artificially. Thank you for listening to me and very best regards
  7. cheers mush, when i work out how to do it i will...he he fred, you are prolly right but i am gonna reply anyway. and i want to not come across like some kind of ill informed muppet.
  8. maybe i need to be more specific... what are the figures for self cert mortgages and what have they been in the past? are the multiple based on basic wage or any "possible" overtime as well (i know my mates basic is 22K but he gor a mortgage for 155 in sheffield on his basic and overtime of about 33K, even tho that is still just under X5!!) any other info gladly received!! Scott
  9. alright all, i tried that email thingy that somebody posted whereby you can email your MP councillor, euromp etc. Anyway i emailed before the election about house prices and didnt get a response...it was the election mind so i let it go...anyway i sent a slightly acidic one a few days ago about "massive mortgage fraud" undertaken with support from the mortgage lenders. He has sent a letter back asking for details. Now i was just going to direct him to the money programme of a few months ago, but i think a more reasoned response with some facts will be better. So considerinfg that I am a bit of a numpty some assistance will be handy please.....many thanks. his letterhead..its Ian mcCartney by the way...says "socialist M.P. Makerfield" which is nice and quaint but maybe he is someone who can look deeper into this...maybe anyway cheers all..Scotty
  10. Someone mentioned this before but why, with their sweeping powers, does the Inland revenue not get involved in this. There must be millions in unpaid taxes on these "fictitious"earnings. Either you get the mortgage you are after but have to pay the requisite tax or you tell the truth and dont get stung for the tax, but hey you will only get a piddling mortgage! Is it not in the Revenues interest to open up this can of worms? my instincts say that it is not!!
  11. jesus where has that world renowned "scouse sense of humour" gone?? or was it eroded by living with the "cockney *****as" too long? ho hum
  12. hey mate, sorry a bit late to the whole thread but been out in ash vegas (if you know wigan you know where i mean) and a good mate of mine who is a lawyer or whatever they are called sollliciiiteeerr or sommat i dunno...i am abit pished...anyway he is a good sort and he took me aside to offer me a deal where he helps me get on the property ladder...his words...now i love him to bits and all that...but i couldnt help thinking i shouldnt need help to buy my first home so i politely declined his offer... but we all have our decisions to make..and if you have to buy a house now i hionestly wish you all the best cos you are the one who makes me laugh most on here..and i know i am bladdered but i dont give a feck cos all my best emotions come out when langered...anyway i just wanted to say good luck and all that and i hope it all goes well....jesus i need a coffee...gnight all scottyboy
  13. tomfoolery outside the crowning imaginings of the chuckle-brothers. yep I am definitely having that one!
  14. To be honest I am not surprised. With the advent of Betting Exchanges the days of bookies valued "afternoon" business... i.e singles on the next available race are numbered. You will always get a better price on the exchanges and you can lay it off for an inbuilt profit. I enjoy a multiple bet (that the exchanges cannot offer at the moment) but i bet online after comparing prices. I can see a gradual cutting back of high street bookies over the next 20 years as the "older" less computer literate punters die off.
  15. Dunno if this is true. And I dont know anything about the circumstances. But on face value this is incredible!! My mate lived in low bank road bought at 39K and sold for 45K about 3 years ago to give you an idea. A fair price is 50K in my opinion. I would even think of buying at that level. If the link dont work then it a nethouse prices search....WN4 post code and low bank road. No 34. Sod it ive cut and pasted the page... 34, Low Bank Road Ashton In Makerfield, Wigan Greater Manchester WN4 9RZ £61,560 Terraced Leasehold Build status not stated 17 Jul 2005 Map(WN4 9RZ) 60, Low Bank Road Ashton In Makerfield, Wigan Greater Manchester WN4 9RZ £67,500 Semi-Detached Leasehold Build status not stated 02 Jun 2005 Map(WN4 9RZ) 34, Low Bank Road Ashton In Makerfield, Wigan Greater Manchester WN4 9RZ £92,500 Terraced Leasehold Build status not stated 23 Aug 2004 Map(WN4 9RZ) 90, Low Bank Road Ashton In Makerfield, Wigan Greater Manchester WN4 9RZ £93,250 Terraced Leasehold Build status not stated 03 Aug 2004 Map(WN4 9RZ) 10, Low Bank Road Ashton In Makerfield, Wigan Greater Manchester WN4 9RZ £91,950 Semi-Detached Freehold Build status not stated 08 Jul 2004 Map(WN4 9RZ) Whats that a 30 per cent reduction in a year?? Keep it coming!
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