Jump to content
House Price Crash Forum

Bruce Banner

  • Posts

  • Joined

Everything posted by Bruce Banner

  1. Up until I draw money out of my account it's just a number. If I draw €1,000 out of my account in €10 notes I will have 100 banknotes which could have originated anywhere, but up until that time my euros don't have serial numbers, surely.
  2. Sky News are spinning it even more than the BBC. To be honest, I doubt if it's company policy spin. More likely to be producers and presenters, (being reasonably well paid individuals, probably drawn into buy to let and now in some distress), putting their own spin on it.
  3. I had the same account (Northern Rock Guernsey). They offered me a 2.75% fixed rate bond which matures 1st November but with absolutely no withdrawals. When asked, they stressed that offshore accounts are different to mainland ones insofar as when the Government guarantee is removed it will not remain in force for the duration of fixed rate bonds. Bearing in mind, that in the event of trouble, the Government are less likely to look favourably on offshore Euro accounts (even though I paid full UK income tax on the interest), I've now moved the money to my French account (BNP Paribas) at 1% variable.
  4. Blimey, twenty plus posts in the last couple of hours and your posting style seems familiar, did you previously post as 'Charterhouse'?
  5. A couple of weeks ago, I withdrew a substantial amount of money from Northern Rock rather than put it into a one year bond. They were offering a good rate of interest but the money could not be withdrawn, under any circumstances, until maturity. As the sum was many times the FSA limit, I couldn't take a chance of the government guarantee being withdrawn during the period.
  6. Hmmmm...there are a few sock puppets coming out of the drawer on this thread .
  7. My advice would be not to make an offer at all at the moment. But, if you must, don't offer any more than the current market price less 30%, for the reasons I explained in an earlier post.
  8. Well, yes, you possibly won't get 30% off asking price at the moment, but it makes no sense to buy at anything more than 30% off today's inflated prices. Let me explain: I expect prices to drop 40% over the next few years. For argument's sake, lets take a £400K house and say 40% off over four years. Now, 40% of £400K is £160K, which is £40K per year . And, 30% of £400K is £120K which is £30K per year, so the difference is £10K per year, about what I pay in rent... quod erat demonstrandum .
  9. I did almost exactly the same thing a few years ago. Asking price was £360K, I offered £270K and stressed that it was a non negotiable cash offer that would be on the table for one week. They said that £275K was their minimum, I spent the rest of the week hoping that they wouldn't drop the extra £5K as I'd changed my mind but would, of course, have honoured my offer had they taken it up within the week. A lucky escape. That was the last offer I have made.
  10. You are one lucky SOB. Whatever you do don't buy again for a few years.
  11. He asked for advice (on housepricecrash.co.uk)and I gave my honest opinion.
  12. I gave a sensible answer. I wouldn't even consider buying at the moment as I expect prices to fall in the region of 40% over the nest few years.
  13. Offer 30% below the asking price and, if accepted, keep you fingers crossed that prices don't drop too much more than 30% over the next few years.
  14. Of course they're fixed, all of them including the Land Registry. If they show 1% monthly fall it's probably more like 2%. http://www.housepricecrash.co.uk/forum/index.php?showtopic=130065
  15. I have about half of my net worth in EUR and half in GBP. I did this a couple of years ago as I was about to retire and not sure where, if anywhere, I may want to buy a house, or live, so it made sense to hold the two currencies that I need to spend as a hedge against failure of either currency. I was extremely fortunate as I bought my EUR at 1.5EUR/1.0GBP. We currently spend about four or five months of the year in Mainland Europe but have not, as yet, bought a house. Would I do the same at today's exchange rate? Yes, I probably would.
  16. Believe what you wish, nobody is likely to post audited accounts.
  17. Really? You get a feeling of power from owning property? . Would you not feel as powerful with the cash in the bank? . Oh, of course, you don't own the property at all, it's on the never never . This is one perverse troll .
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.