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Everything posted by NuBrit

  1. Can you imagine someone starting a political party whose core principle is abolishing the NHS? I think if you spent a billion pounds funding such a project, you would still not win a single seat.
  2. Is selling crypto to get into BTL really a thing? Most of the people I know who hold crypto are waiting for much higher prices before they consider selling.
  3. A colleague of mine was desperate to get a new Range Rover. He was told there's a wait time until 2023 (!) to get one. Instead of waiting, he bought a used model that's a year old for more than the price to get it new (!!!!!!). Talking about doubling down on the lunacy.
  4. Are they though? If you are one of those prudent savers, you're getting about 1% interest on your savings. The BoE official inflation figure is at 4.2%. Even if you use the understated official figure, you're losing a huge 3.2% of your purchasing power every year. The Pound has been relegated to something that's not much better than an emerging market currency like the Turkish Lira or the Argentine Peso. Debt is so high and growth is so fragile, the government and central bank don't dare raise rates in fear of damaging the economy. The result is runaway inflation and a rapidly devaluating Pound.
  5. I think that was my point, no? Demand for social housing is already overwhelming supply, just imagine what it'll be like when we've got all these extra pensioners who are no longer working and will no longer be able to afford higher private market rents.
  6. Yep. In 30 years time, there'll be 100,000's of renters hitting pension age with small/private pensions. They will not be able to afford to rent in the private market, it's going to cost the taxpayer billions every year to support them.
  7. +1 Evergrande is probably the weakest link in the chain, the Chinese property equivalent of our Northern Rock. The question now is what other domino's are going to fall next. If Evergrande is an isolated event, the Chinese will probably be able to bail them out and stop the spread of contagion to the wider economy. If it turns out there are more failing property companies, then all bets are off. If a number of Chinese property companies all go bust at the same time, it's going to have the second order effect of possibly putting the Chinese banking sector in trouble. If the Chinese banking sector is in trouble, then the crisis has the potential to go global. Which western firms are most exposed?
  8. Anyone coming to get fuel with a boot load of jerry cans should be turned away, disgusting behaviour that is only making something that should be a minor blip into a crisis. We saw the same thing with the bog roll earlier this year, absolutely no need for this stockpiling nonsense.
  9. Thanks for posting this. I literally had no clue that if you earned over £50k a year, child benefit would taper off until you lose it all after £60k. I was over the £50k limit last year even after pension contributions, looks like I am going to have to pony up! This tax is a real kick in the balls. I really don't like the idea of giving up £2k a year in child benefit, especially given I'd need to earn an extra £4k to replace it! I think I am going to seriously have to look into upping my contributions to my pension via salary sacrifice. It's probably no harm to be saving more into my pension anyway, given how much more tax efficient it is.
  10. Meh. Afghanistan was a basket case before the Taliban took power, it was a basket case when they were in power, a basket case when supposedly democratic, and will undoubtedly continue to be a basket case when the Taliban re-take power. It's not even a factor in global markets. Considering what happened and how many Taliban died in the last 20 years, I don't think they will be in a rush to sponsor terrorism abroad again.
  11. It's already happening though. The best value easy access interest rate will yield just 0.5%. CPI on the other hand is currently running at 2%. The oldies who predominantly keep their savings in cash are losing 1.5% a year in real terms.
  12. Yet the best value I can get on my savings is just 0.5%. It's a complete fiddle.
  13. Sorry, I know this was posted elsewhere, but I think it's worth its own thread. A 1% hike in national insurance to fund social care is incoming. This is just another wealth transfer tax on young working people to the elderly that exempts the landed asset owning elite who won't have to pay a penny. How is it a sustainable recovery when you keep gouging the most productive class of people in this country? https://www.thesun.co.uk/news/politics/15636214/national-insurance-hike-to-pay-for-social-care/
  14. The Conservatives have been in power for 11 years now, house prices have gone insane since. All government measures are actively interfering in the market with the intent of pushing prices higher. The Tories are the fat sow that devours its young.
  15. It's not just a regular ponzi scheme though. It's a state sponsored ponzi scheme that transfers wealth from the young to the old. All brought to you by Boris and his mates, with the great British public acting as cheerleaders for it all. Labour actually have a pretty decent proposal for dealing with the housing crisis (1 million council houses to be built over 10 years), but it'll never win an election. Far too many people have too much to lose from falling house prices. Therefore I see house prices just continuing to rise, in the short-term at least. The longer it all goes on though, the more likely we are to get something similar to the 2007 implosion of the market.
  16. Find it hard to have too much sympathy for those who may be affected by a reduction in the pension cap. Between pensions, ISA, and LISA's, the options for saving in this country are fantastic and very generous even if they are slightly reduced. Unless you have a crazy amount of income, then I most people who are threatening to hit the cap will have options to shuffle things around so that they still come out very well. I actually don't think the limit will even end up being cut anyway. At worst, they Daily Wailers will kick up enough of a fuss that it either doesn't happen, or will be watered down/pushed out.
  17. The market is definitely on fire at the moment, I see so much retail at the moment with help wanted signs in the window. At the higher end, it looks like IT in particular has went crazy. Experienced developers contracting in London on £700-800 a day.
  18. Savings bonds do exist in Ireland, there's a lot of options, but don't expect rates to be any better than here https://www.askaboutmoney.com/threads/term-deposits-fixed-lump-sum-savings.101813/ I don't think it's a very good idea for someone on a basic UK state pension to retire in Ireland. The cost of living in Ireland is a little more expensive than the UK, and the UK state pension is quite a bit lower the Irish equivalent. You also have to pay for GP visits, something to bear in mind as you get older. Not saying it can't be done, but I think you'd want to either have a lot of money already, or be very frugal.
  19. 40 year mortgages are the work of the devil. Sure, your monthly payment looks lower, but as you start to increase the mortgage term, the amount of interest paid on the mortgage balloons. monthly payment total interest paid capital repaid after 5 yrs 25 years £528 £58,284 £12,902 30 years £477 £71,788 £9,558 35 year £443 £85,867 £7,261 40 years £418 £100,491 £5,614
  20. At least Keir Starmer gets it. All this fiddling in the house market only pushes prices up.
  21. 95% mortgages, stamp duty tax relief. It's almost like they don't want house prices to go down 🤣
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