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House Price Crash Forum

Bruce Banner

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Everything posted by Bruce Banner

  1. Whatever . It was just a rough guide, how about adding petrol tax, rates and all the other taxes that I didn't bother to factor in. Oh, and don't forget corporation tax and the NI for my employees. And what about the slice over 40K.
  2. How about 22% NI (I ran my own business so effectively paid both employers and employees contributions), 40% Income Tax and 17.5% VAT when I spend it. That means about 80% of my income went to the government . I'm now retired and living on a modest personal pension and the interest on my savings, but don't qualify for my state pension for another seven years, although I still pay income tax and my estate will be subject to death duties when I die. I ran a business that employed people, I have never claimed any kind of benefit and have absolutely no intention of burdening the state, or my children, with my care. My biggest fear is not being able to look after myself and control my own destiny, thus I shall be taking myself off to Switzerland if and when that time comes. I've paid my way, so go pick on someone else sonny :angry:.
  3. ........after paying tax and National Insurance contributions for all of our working lives.
  4. That's pretty much how I feel, although I'm 100% cash (GBP & EUR). There's so much coordinated manipulation, by governments, going on that it's hard to make head or tail of it. I'm relaxed, insofar as I can move quickly if necessary.
  5. And if they're a number in a Channel Islands account? Or a Swiss Account? Or a UK based Euro account?
  6. 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.
  7. 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.
  8. 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.
  9. Blimey, twenty plus posts in the last couple of hours and your posting style seems familiar, did you previously post as 'Charterhouse'?
  10. 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.
  11. Hmmmm...there are a few sock puppets coming out of the drawer on this thread .
  12. 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.
  13. 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 .
  14. 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.
  15. You are one lucky SOB. Whatever you do don't buy again for a few years.
  16. He asked for advice (on housepricecrash.co.uk)and I gave my honest opinion.
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