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House Price Crash Forum

Bruce Banner

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Everything posted by Bruce Banner

  1. What, and lose 30%+ on a depreciating asset, not to mention maintenance etc, I think not .
  2. Another one trying to catch me out If I were to draw £350K out of the bank I'd lose £11,200 a year in interest. £350K @ 4% = £14K gross interest, less 20% tax = £11,200 net interest.
  3. You were referring to a post about my situation. I pay less than £11K a year in rent. My tax rate is 20%. I do not pay NI. Read my posts on this thread before posting nonsense.
  4. It's not a case of right or wrong, I am merely posting my own situation. I rent a £350K house for less than £933 a month. If I were to draw £350K out of the bank and buy it, I'd lose more in bank interest (after tax) than I pay in rent. Fact, not opinion.
  5. Hmmm, there seem to be a few worried estate agent types posting on this thread . They try to pick holes in my figures and when they fail they suggest I'm lying .
  6. I pay less that £933 a month rent, £350K house, south east, top area .
  7. BBC News just reported: "mortgage lending is at it's lowest level, for the month of October, for a decade......... the figure was 9% lower than October a year ago".
  8. Yes I did, but you have not quoted the complete post.
  9. But your questions are not based on what I have said. Can you not read?
  10. Actually, even that's not a certainty. Governments can kick you out of your house if they want to, they call it compulsory purchase.
  11. You post as though stupidity were a virtue . When in a hole, stop digging.
  12. There are quite a lot of posters here who are in a similar position to me. If you shop around for good rental deals and interest rates, it can be done.
  13. Some is in banks, a lot is in NS&I. Nothing is certain in life, but I'm very relaxed. I would certainly be 'shitting myself' if my money was tied up in an, illiquid, depreciating asset though. You are stupid . Sums are not your strong point , are they .
  14. If I were to draw £350K out of the bank and buy the house I'm renting, I'd lose £11,200 per annum in interest after tax (I'm retired and no longer pay 40%), I pay less than that in rent and my money is sitting in the bank rather than being tied up in a depreciating, illiquid, asset. Of course, if you factor in maintenance, falling house prices etc, I'm substantially better off renting.
  15. It's not cheaper if paid for in full because your money is tied up in the house and not earning interest.
  16. I have 100% cash and it's cheaper for me to rent than buy.
  17. They just need to fill in the box on their computer screen. I drew out £15K at the peak of the 'banking crisis'. They asked if I could give them a couple of days to get it together as I wanted it in £50s and they didn't have many of them at the branch. I said 'no problem' and the girl politely, and in a matter of fact way, asked what I wanted it for. I said that I wanted to keep some cash on me in case anything happened to the bank, she replied, with a smile, 'I don't blame you'. I picked up the cash two days later with no further questions. When I paid it back in, nine months later at a different branch, they asked where the money came from, I told them and they accepted it without question.
  18. I've already answered all of those questions on this thread alone. Read before you post, circular arguments are a waste of everyone's time. Bye.
  19. I'm bored now, I've explained it many times and can't be bothered to go through it all again. I'll leave you the last word, as usual .
  20. I know exactly what I'm getting, it's a pretty simple calculation . You goldbugs seem a bit desperate today, gold isn't falling is it?
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