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Velgud

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Everything posted by Velgud

  1. I think that what you are inferring is a bit of a generalisation though. In my situation, an I/O mortgage is a good thing. I work freelance with no guaranteed monthly income so my preference is to keep compulsory monthly expenses to a minimum. When I get paid from a project, I pay a chunk of the mortgage off and certainly pay more than a repayment mortgage would every 12 months. In my opinion, I/O mortgage is not necessarily a bad thing, the problem lies with the reasoning behind people taking them out and this is caused by their own stupidity (and to an extent the brokers who sell these commission based products). But again, it all comes down to the sentiment that property can only ever go up and property porn tv shows have a lot to answer for.
  2. On Sunday, we went for Sunday roast at a place which sold it for £4.75 (great price) 3 months ago. 3 months later... £8.95.. same meal.
  3. lol.. and there's the speculative option! and to be honest, I like it
  4. Christ, I better make sure I have this page closed when she comes over later!
  5. Yep that is pretty much bang on the conclusion I seemed to have arrived at - see my last post. If I told you, I'd have to kill you but watch this space!
  6. You know what guys, I think this is what I'm going to do. Call me impressionable lol but I wouldn't of even considered this an hour ago, but you are right. If I pay off that loan, aside from the mortgage, I am entirely debt free and with a little savings left over. And you are 100% right when you say that would help me sleep better at night. I think my grandad would also appreciate that prudence and also I could then basically say that he paid for my education and that my education got me to start this business, so I could (kinda) logically attribute it all to him and that'd be a really nice positive thought Yep, that's definitely the best option so far. Regarding comments on the startup, yes, dot com is most definitely high risk for sure, but I'm feeling pretty confident in my ability on that one I'm gonna resurrect this thread the day I launch the private test so you can get a sneak preview if anyone's interested
  7. 31 - but an extremely young and immature 31 ! I've never done the 9-5 lifestyle to fit in and thus still a bit 'lost' and naive to be honest. 23% equity but with massive added value from a highly experienced investor team - it was the people more than the money that sold me
  8. I will presume you're joking, but given the "mega discount" remark, perhaps you're not! Thanks for the advice, but frankly I value integrity far higher than profit and I will never have anything to do with destroying communities for personal gain in my life. IMHO BTL is one of the most selfish forms of business to go in to. No offence meant though, that's just my opinion. Yep, you're pretty much spot on with that. I have actually been considering point 1, but not a sports car but a boat as my grandfather was very much into boating. I figured that could mean I inherit a lifestyle trait from him rather than a digital number that means very little. I've had one eye on a Regal 2150 (I've been researching this for a week or two now so am clearly an 'expert' lol) but I figure that this would significantly up my monthly expense which isn't a very good idea when starting a new business!! Plus, again it's the time issue. To save it for a rainy day in case the business doesn't work out is very good advice indeed and frankly something I haven't even considered such is my blind confidence. Hmmm... Once again, thank you all for your comments so far. I bl00dy love this forum
  9. Yep, definitely don't want to p1ss it away on daily expenses, although I do pride myself in having very low fixed outgoings so that shouldn't really be a problem. Yeah, maybe I should dump the bitterness, you're right there, bitterness doesn't really do any constructive ever does it. I just fr1gging hate the fact I had to pay for my education. I dunno, I guess in the back of my mind I'm thinking that I will leave this country and that debt behind one day, b0llocks to them. 1 - yes it does, I'm an 'Earth Horse' and generally spend what I earn on fun 2 - see above 3 - I have 21 years left on the IO mortgage, I've worked hard to over pay during the last 4 years based on what I've learnt from this forum in the past I have £24k outstanding on the balance now. 4 - I'm not exactly educated to make a judgement here, but frankly I can see no way out other than the government inflating away the debt. I understand this will devalue GBP but only if the other countries don't follow suit right (which I'm guessing they would ) - but hey, I have no idea to be perfectly honest! 5 - to clarify, I like calculated risk, moreover, I like good value returns! Thanks for all the responses so far though people, it is very much appreciated
  10. lol.. yeah to be honest that would be an option were I not busy with my new business. Plus, fortunately I have a very beautiful girlfriend whom I intend to stay faithful to! lol, he was
  11. Hi everyone, I know this isn't a free financial advice forum, but I've been an avid reader of these forums for about 3 years now and I have a great deal of respect for a lot of posters on here. I am firmly of the belief that this country is about to go to pot and share most of the common ideals on here, and thus I am very interested to hear your views. I've recently inherited £10k from my grandfather and am unsure what to do with it. I'm a fairly young lad, I have no credit card, loan, store card etc debts. The only debt I have is £24k on an interest only mortgage currently costing about £37 per month (I know what most of you think about IO mortgages, but I'm a freelancer so prefer to keep my monthly expenses to a minimum and then overpay when I complete a job) and I have about £6k in student debt (which I am very keen to drag on for as long as possible due to being rather bitter about it!). In my humble opinion: - Savings interest is pathetic and I'm concerned that future inflation will make saving even less worthwhile - Gold is possibly in a bubble and silver is VAT chargeable (I think) - Property... well, we all know where that is right now - and I am certainly not going to use it for a deposit on a BTL because I'm not stupid or evil So the way I see it, the only decent investment right now is in either business or education (i.e. investing in one's self). However, I'm currently working on a dot com startup and about to get around £150k investment for an equity stake, so to invest my grandfather's £10k into that would basically swallow it up and not really add very much extra value. I'm real busy with this startup so investing in education is a no go. Likewise, due to my current work, I don't really have the time to just blow it on travelling. So, what should I do? At a guess, I suspect you'll say NS&I or an ISA or something.. but hmmmm.. well basically I have quite a speculative personality and that seems a bit dull, plus I'm expecting/hoping to earn a shedload over the next few years from the success of my new startup so at that point the £10k would be a bit trivial. Right now, I'm thinking it should be a lifestyle investment, i.e. wait for 12-18 months until Spain really tanks and then use it as a deposit on a nice little home in the sun. Anyways, very keen to hear your thoughts because like I said, I very much respect the opinions of people on here and (cue the sad story) I don't really have a significant male role model in my life to give me any advice!! (not being sexist or anything, I'm sure females can give great advice too, but my mum isn't Warren Buffet lol) Thanks in advance
  12. Just getting my early Sunday morning HPC fix and wondering what it actually is that the majority of readers on here really want... I love the gore as much as the next person, but what is the end of the means? I'll assume that the general answer will be "to see houses become affordable again" but given that affordability is relative, is this really a tangible goal? Moreover, aren't the majority of the STRers on here going to go out and buy an 'affordable' house once it becomes 'affordable' and thus cushion the crash before affordability reaches FTBers? Is that "suits me sir" attitude not blatant hypocrisy and at all any better than a BTLer's attitude? Point being, is the core of this forum actually about HPC? From what I read on here, the majority of people here want to see: - a revolution - the fall of the 'middle class' - a return to domestic farming etc etc.. - war So here's a poll.. what would you honestly prefer to see? A a house price crash B a full blown revolution to be honest, I think I'm kinda gunning for B
  13. Just getting my early Sunday morning HPC fix and wondering what it actually is that the majority of readers on here really want... I love the gore as much as the next person, but what is the end of the means? I'll assume that the general answer will be "to see houses become affordable again" but given that affordability is relative, is this really a tangible goal? Moreover, aren't the majority of the STRers on here going to go out and buy an 'affordable' house once it becomes 'affordable' and thus cushion the crash before affordability reaches FTBers? Is that "suits me sir" attitude not blatant hypocrisy and at all any better than a BTLer's attitude? Point being, is the core of this forum actually about HPC? From what I read on here, the majority of people here want to see: - a revolution - the fall of the 'middle class' - a return to domestic farming etc etc.. - war So here's a poll.. what would you honestly prefer to see? a) a house price crash a full blown revolution to be honest, I think I'm kinda gunning for (
  14. 10 reasons why you should never get a job... http://www.stevepavlina.com/blog/2006/07/10-reasons-you-should-never-get-a-job/
  15. Hear hear, don't justify yourself to anyone, you do what you do. Quite funny though, we both joined Q3 '07, and this was my 70th post while you're on over 30,000 haha! You must be manically depressed though, Christ, I have bouts of reading HPC and I swear it amplifies any negative thoughts I have on society and I only read it for a few hours each week!
  16. Just read this article and read the original thread on here a few weeks back - good work Daily Mail, very innovative journalism there, not! When I read the original post a few weeks ago, I thought perhaps it was a wind up, yet since then my eyes have been more open to middle class poor spotting and actually the other day I was staying with a friend in London who has a good job, brand new Mercedes, missus has a brand new car, 3 year old kid already in private school, talking about wanting to buy a £100k car next year etc etc.. Yet Sky TV was cancelled through missing payments and he didn't have any money for petrol to drive his car into work for a meeting.... damn. To be fair, he's not even a credit card monster either, I think the lack of income is mostly due to spanking it all on the house rent. I absolutely shudder to think about what will happen over the next few years though, people are SKINT and trying to cover it up as much as possible. The sheeple aspire to reach celebrity like status of designer clothes and fast cars etc, but they cannot sustain it. The old rich have done a really great job here; they've opened up windows into their lifestyles which breeds insecurity amongst the sheeple. They then try to bring themselves up to that level and completely cripple themselves in the process. The 'middle class' become poor and the wealth divide grows - and all through a process which revolves around the upper class promoting their wealth. To be fair, it's a very elegant model that seems to work beautifully well. If people are stupid enough to not see what is happening, then so be it. I'm quite positive about it all to be honest, because the more stupid pr1cks on this planet there are, the more opportunities an opportunist like me will have
  17. 30 posts a day 365 days a year is though.. 30,000 posts / 1000 days since you joined.. lol That said, IMO the OP does sound like an attention seeking wh0re. How many HPCers sold a 5 bedroom house in their 20's while the GF was out studying for a "1st Class Law Degree daaaarrrrling" the only thing this muppet needs to worry about is whether the bank of mum and dad remains stable.
  18. Damn.. yeah maybe I'll give it a miss lol... I signed up a couple of days ago and already have a couple people asking to stay at my place. The concept was great, but now the opportunity to actually do it seems a little daunting. Of the two members requesting a stay, one is two sisters from Croatia and they're pretty hot too lol.. the missus (who doesn't live with me) isn't so keen needless to say
  19. Couch Surfing - a global community of people ready to lend you their couch or spare bed. Free accommodation, anywhere, anytime. A truly wonderful concept. I signed up immediately. http://www.couchsurfing.org Has anyone here used it before? The more resourceful we can be with our homes, the less demand there is on housing/accommodation and the better this world will be. Thoughts?
  20. One of the biggest problems in housing is that there simply aren't enough medium sized (3/4 bedroom) houses available. I have no idea on the numbers, but I suspect there is a very high percentage of elderly couples who've children have moved out living in houses much larger than they actually require. Obviously they have worked hard all their lives and deserve to have a happy home but perhaps more could be done to encourage them to downsize. Perhaps a council tax cut for people who have a high occupants/bedrooms ratio thus encouraging lodgers to subsequently relieve the one bedroom flat rental market. Or vice versa, an increase in tax on homes with empty bedrooms. Sounds a bit drastic, but perhaps it would help. Thoughts?
  21. I have the Property Bee Firefox plugin, but it only records it from the first time I visited the page right? So I can't tell how long it's been listed.. Blue Lou... erm.. yeah.. that and the off topic dog comments are making it hard to actually justify a reply.. so I won't
  22. It's Southwest.. about 20 miles from Exeter, on the coast.
  23. I really truly wish that I could believe that.. but I just think as soon as homes become 'affordable' once more, ftb's, families lookin to upsize and landlords will all jump on the bandwagon at the earliest opportunity.. then there's foreign investor waiting to spend some weak sterling.. I dunno.. it's listed at £300k.. if that same property is available for £150k in 12 months, I think I'd have alot more to worry about than saving on property.. But like I said, I absolutely hope youre right my friend. Regarding the comment of "there'll be plenty more places to fall in love with" lol.. you're right there for sure... I tend to fall in love fairly quick as well
  24. Which is 2.5x joint salary... and we're young.. it's fine..
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