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Methinkshe

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Everything posted by Methinkshe

  1. It wasn't only mortgage brokers who were encouraging the impecunious to take on more debt than they could pssibly handle. My daughter worked in a Hight Street bank about 3 yrs ago as a Loan Adviser. She was on a low basic salary with commission paid for meeting sales targets for arranging loans and insurance etc. The way the bonus scheme worked was that if targets were not met during that quarter, even by the smallest amount, NO commission was paid at all and there was no roll-over to the next quarter, so all sales efforts for that quarter were lost. So, come the end of each quarter, all L
  2. Sure! Had I been able at the time to buy, I would have done so. In fact, at the time (1996) I had an even better deal offered - converting a £500pcm tenancy of a 5-bed house in 5 acres into a purchase for £130,00. The same property sold a couple of months ago for £850,000. I know I missed out on the buying opportunities but circumstances prevented. So. forgetting the missed buying opportunity, I was trying to look at the rental deal from a BTL POV. My landlord hasn't done very welll as far as I can tell, but as a tenant, I haven't done too badly. At least, I think that is the case.
  3. Don't be too sure - who knows what yet may crawl out from the woodwork? A couple of years ago my daughter briefly worked for a small independent mortgage broker. Self-certified mortgages were limited only by the imagination of the broker. No-one who wanted a motgage was turned down whatever their financial staus or impecunity. In short, fraudulent accounts were the order of the day.
  4. I rented a 5 bed property in Cornwall 10 years ago for £500 pcm. The rent has now risen to £650.00 pcm. (One single rent rise of £150 pcm 2 years ago) The current value of the property is probably in the region of £350K. The value 10 years ago when we started renting was circa £100K. Anyone care to comment on what the figures say - I'm too damn stupid to work it out. All I know is that it seems like I've got a good deal.
  5. Hi, I've been hopping in and out of this site for about a year and have decided to join in the hope that I can get some good advice. I've been bearish about property since before the last housing crash when I managed to sell at the top of the market for £140,00 (with OPP for conversion to a nursing home) and watched as the poor buyer had to put it back on the market for £90,000 just a year later. I'm hoping to get some good advice re how to invest a C 100K lump sum that my son is due as compensation for a work-related injury. BTL is no longer an option, but he's going to need an addition
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