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House Price Crash Forum


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Everything posted by Letsdance

  1. I think partner A who holds the deed will have created a situation of allowing Partner B to correctly believe that they have a holding interest in the property and therefore creating an estopple. Estoppel in its broadest sense is a legal term referring to a series of legal and equitable doctrines that preclude "a person from denying or asserting anything to the contrary of that which has, in contemplation of law, been established as the truth, either by the acts of judicial or legislative officers, or by his own deed, acts, or representations, either express or implied."[1] This term appears to come from the French estoupail (or a variation), which meant "stopper plug", referring to placing a halt on the imbalance of the situation. The term is related to the verb "estop" which comes from the Old French term estopper, meaning "stop up, impede". Therefore a test of reasonableness would be applied and should favour Partner B
  2. Lets strike a balance, theres a lot of mixed messages. However what concerns me is your lead on deflation. Deflation is damaging in the extreme, house prices are only a small part of this. I would prefer and would hope for a hike in IR. This I believe would kill off HPI and basically reboot the machine, we not going to get this with deflation, why even promote it for HPC reasoning?
  3. The news is back to economy recovery, possible suspension of QE, interest rate rises, inflation and again RB looks for delfation. Getting rather like Sibley and massive HPI back in 4th Q 2008. Are you a bond trader? Do you have a vi for deflation???
  4. +1 recent stats show it the biggest single tourist ride/attraction in europe, even beating the effiel tower, colliseum, pisa etc. Was on it 5 weeks ago this is where the stats came from. edit crap spelling
  5. Bernanke calls end, King calls for caution, unemployment up, HPC crash still on cards. Why predict any outcome? Tails you win, Heads I lose!!
  6. Been on here a couple of years now, don't post much but on every day reading the threads. Seems to me that no body expected what we have got now and where we are now!! 2 years ago we were just hitting the top and expecting the drop into the black hole. As yet it has not happened (or has it). Nobody expected this bear or bull. The bears expected the massive fall, it should of happened, its happening in drips and draps, 2% here 3% there. Frustration is setting in. The bulls riding the wave 2 years ago also thought , christ this is for real,what do I do now. 12 months later confidence has returned somewhat. Both bears and bulls at the moment are in limbo. Nobody can predict next week, never mind next year. The hard core bears foretelling the FTSE sinking, banks crashing, Inflation, Deflation. The bulls Sibley, Valerius, Hamish jumping on the Express headlines. The government, Brown and Co, will either be saints or lunitics in 50 years. I don't know!! Nobody else does!! At this moment in time HPC.co.uk can not predict next week (forget next year), the threads reflect this. Interesting times. Can this site and all who contribute hold it together to see the next few years through. I say this as we have lost a lot of good posters during the last 12 months. Mick Dundee today. Can you accept this state of limbo?
  7. Prof Besley, who is standing down from the MPC in the autumn, said that the MPC "will need at some point to tighten policy through... raising nominal interest rates and 'quantitative tightening,' to make clear that upside risks to inflation can be headed off and to maintain a credible policy reaction function." This is the bit that does it for me. They are already talking about raising the interest rates. This guy leaves in autum and he will probably start promoting the tightening of the policy before he goes. Why you lot go on about "what recovery" bewilders me. Let them think we have got the green shoots they desperately desire. We are out of the mire and over the rainbow, all is well. SO GET THE BASE RATE UP. Then what do you think will happen.
  8. BL you are a knowledgable chap, is this the cast below So am I correct in assuming that say Lloyds and a&l are legally obliged to keep their SVR's at or about 2.5%. It is strange as Yorkshire and Clydesdale bank SVR 4.5% even is you are an exisiting borrower coming off a deal. In the light of things 2% is some difference.
  9. So am I correct in assuming that say Lloyds and a&l are legally obliged to keep their SVR's at or about 2.5%. It is strange as Yorkshire and Clydesdale bank SVR 4.5% even is you are an exisiting borrower coming off a deal. In the light of things 2% is some difference.
  10. This has always puzzled me when the rates came down some passed on , some partly passed on and some did nothing. Now the swap rate is going up fixed rates and trackers are being pulled and increased but the saving grace to the MEW crowd is the fact that the SVR's are so low. The bank is not doing good business with people on 2.5%. More and more are ending up on SVR and can not get another deal. Simple answer raise the SVR, one does it they will all follow suit.
  11. I would find it very unlikely the council will provide a compensation payment without a clause barring any further action. Something like this would have gone through the legal department which usually follows up from requests made from the ombudsman. Further to this claims are later audited at both a local and external level.
  12. If you did not accept the £70.00 then maybe go to the local gov ombudsman and explain your predicament. I did this after a botched planning equiry and got back £400.00 costs.
  13. I would sort this mess out before you move. Councils do talk to each other and make no mistake your local authority will ask for your previous council tax details, benefits records etc. Will only be a matter of time. Also if you accepted £70.00 compensation the chances are that would be a settlement on the basis of full and final without any future comebacks through a small claims court. edit:typo
  14. I think as far as sub prime lenders go there is not much worse than C&G. I know of a few basket case households on Liar loans with ridiculous sums outstanding on high LTV's at this moment in time saved by the very low SVR of 2.5%. Roll on inflation and the inevitable IR increase.
  15. Still the going rate in my area. Rents never increased nor decreased since.
  16. What I am advising here was not all BTL investors were reckless
  17. I bank with Yorkshire bank (part of NAB) when I bought this place I was restricted to 60% LTV. I have paid this off since however another property I owe £4k on and a small personal loan is cheaper than a mortgage. Couple of friends have remortgaged (not MEW) on similar properties (SR8 post code) which are their homes not BTL and to be honest they got a shock on the state of the mortgage market. C&G said no, Halifax £1k setup fee - could only get most 85% LTV think with coventry.
  18. In all fairness the NE never saw the bubble to that extent. The most I could say this property increased to was £65k. Now dropped back to £40k. You could buy a street for £170k in the NE.
  19. My first house for BTL I paid £17k and have been getting £300 p/m since 2002.
  20. Evenin all, I do BTL. Have done now since 2002. I was doing plant hire before then; JCB's, wagons and trailers in chemical plants and steel works. I found plant hire hard and very troublesome. Vehicles cost 20k plus and have a 3 to 5 year life span. Very high maintenance breakdowns frequent and repair bills high. After 5 years the vehicle is scrap. Did plant hire for 10+ years and decided to change houses, (late 90's). Sold plant did not renew contracts and bought houses. Plain simple terrace house in the NE of E. This works for me and find quite profitable. In the NE the council sold of the housing stock and the waiting lists are massive. I find the maintenance levels far easier than vehicles and rent is not on 90 days credit like the vehicle hire. 10 years ago I would now be changing a clutch on a digger not sat on the internet. Support the crash 100% got all too stupid. People I knew would say I bought a house last week how do I go about Letting. Daft thing is some did not now what a CP12 was, complete stupidity.
  21. Fact is sooner or later they will be right. The markets will pick up. Maybe in 5 years Sibley will be stating I told you all this will happen. The same as in 2005 CGNAO reporting future meltdowns in the derivatives. If we were all the same what a boring world it would be.
  22. I know of a similar story Couple with house valued at 900k have mortgaged to 850k i/o with yes the C&G on a tracker. MEWed 4 times in 2 years. Must be paying mortgage with MEW. Not only this house but there previous house which they took off market last year cause they could not sell, this also mortgaged to 200k i/o with C&G. Repayments on interest alone last year = 4k per month, now must be under 1k. When the tide comes it this will get interesting
  23. Good thread, I am aware of a family with a £550k i/o tracker. All show with Merc on the drive and fountain in the garden and hoped to make a killing 2 years ago. Can't wait for hyper inflation lets have interest rates in double figures.
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