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House Price Crash Forum


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Posts posted by righttoleech

  1. Currently you can only take out a maximum of 25% of the pot and only when your at least 55 , the rest must buy a annuity at some time , if you have over 10k in a cash fund now with markets at 40/50% off peak i would think about putting some of that cash into unit trusts/funds etc , just an idea choose 2 funds rather than one so as to spread the risk , furthermore i would make one of the funds a asian or far east fund .... you need to forget about short term volatility and think in terms of a minimum of 5/6 years time .

    In April 2010 it changes to 55......minimum age to take a pension till then is 50.

  2. I can understand ignorant bulls - people who have known no recession, who have been semi-brainwashed by the house prices can only ever go up / "location location location" meme, and who are just basically unaware of the facts. I would have even almost put myself in that category not too long ago, as someone who was vaguely aware that despite being salarywise much better off than my parents ever were, I could not afford nearly as big a house as them. It kind of felt wrong, but no more, and I bought houses just the same, in ignorance.

    But Bulls on here, on this site, who read the threads stuffed with clear counter-arguments, and must know more than "Joe public" - how on earth can they still be bulls?

    Clearly there is no crystal ball, and no-one whether bull or bear can say with 100% certainty what will happen in the next 3-10 years. But for now, the only way is down. How can they ignore so many facts, let alone the overwhelming evidence of the historical precedents? Is it a psychological condition? Is it genetic? It's easy to slag them off, but I am on one level almost academically curious.

    They can't all just be winding us up for laugh? Surely?! :blink:

    ........It's like a religion to them.........not in a quiet churchgoing way.......more fire and brimstone fanaticism

  3. need to get out of RBS

    The top rate is Natwest's* e-ISA, which pays 3.51%, if you put over £10,000 in the account. To get this, you must have a Natwest current or savings account, but if you don't, simply open it's instant access e-Savings account with £1.

    If you've got less than £10,000, you can still transfer into this account but it pays a lower 3.25%.

    Is this the best one to go for?


    Natwest/RBS spawn of Sir Fred.............The Natwest Branches will be happy to advise you on preservation of capital

  4. If interest rates rise to, say, 10%, then there would be massive defaults on mortgages. The consequences would be disastorous for the economy.

    How can the government increase interest rates, whilst allowing people to still afford their mortgages?

    I propose one method that the government might try is to introduce mortgage interest relief at source.

    Is this likely? if so, what are the other consequences?

    Consequence would be a more rapid reversion to form........HPI...........at least it would give owner occupiers the tax advantage that BTLrs enjoy......I favour removing the priviledge from BTL rather than extending it.

  5. Lets see what happens when we are closer to the general election and we have found that the banks are still (rightly) panicking about lending yet more money against depreciating assets like houses. The one eyed scottish idiot will wrestle Merv to the floor to print a load more cash.....

    Just cos a bank takes out a full page ad in the press, does not make it so

    Cannot believe the Nat West press advert........or the television advert where the middle class twits ask NAT WEST for advise about PRESERVING CAPITAL. Not content having inflicted appalling wounds on us, they are pouring in a solution of lemon juice and salt.....OUCH

  6. We have to pay more to attract talent.

    They have foregone high paying jobs destroying banks to scrape our bone marrow. (Note the habit they have of always assuming that they would have reached to top of whatever profession they failed in before becoming MPs).

    I have heard arguments on phone in programmes that the McNulty scam for instance is chicken feed compared to the sum spent bailing out failed banks. I disagree. My anger level at what is going on now includes anger towards myself for being honest all my life to the detriment of myself and my family. I am becoming ambivilent towards common criminals and thieves as I realise the level of dishonesty polluting 'the establishment' is setting an apalling example to all. Far from each year of McNulty's theivery being 'only 5 or 6 years of income tax' for the average mug citizen, it will undermine any morality and decency left in this country. A curse on the robbing incompetent scum

  7. Sibber's, I need your help.

    We desperately need some advice (have to decide if we accept developers 'offer' today)

    Been offered a nice 3 bed new build at 'discount' of 18% off already discounted price, ready about Sept/Oct.

    We can also chouse up to £5K of extras in this figure!

    But, we have to accept or decline today, had a very difficult weekend trying to decide what to do, we just don't know.

    Bargains are out there, but are they bargains long term? We be confused.

    Thanks in advance,


    I'm sure that Sibley will give impartial advice.........always best to consult an expert.

  8. Got to agree, what you mean is that he has spent the tax :rolleyes: You have to set your tax and vat aside (It's not yours to spend) so a tax bill or vat bill that cannot be paid is the sign of a silly businessman or a failing business.

    Sorry to hear about the other examples, we all know somebody now..........

    1 in 56 sounds like good news to me as long as I am not a "1"

    I am a 1 after over 30 years paying substantial tax and NI bills. Now it's time to run down the savings earmarked for retirement.........(no means tested benefit). This is a lifetimes work down the shitter. It is 90% down to the property obsession and associated greed in this country. This disease found hosts in the incompetence of Gordon Brown and the greed of the bankers. It is now a pandemic. It strikes me as incredible that house prices are ONLY down 20% when the economy is being destroyed at the current rate.

    Any business that made plans to remain viable for say a 60% drop in demand.......(e.g. what has happened the car industry), would fail in normal times. It would be considered paranoid, mental, and would not be able to compete with companies that did not anticipate financial armeggedon. I would not blame a business for having trouble meeting tax bills in this environment.

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    Thank you thank you......so pleased to see that there are still philanthropists around in this dep.....recession. I am greedy. Can you help me make some money? I have heard that pwoperdy is good....if I can get someone to pay my mortgage...a home is a basic human need but I would like to profit from it.....or food.....yes soft commodities.....we need some very hungry people with money.....maybe a war would be helpful?

  10. Beyond belief.......I was speakless when reading this. Hamish where are you to defend the good Sir Fred? Why did the directors of Enron face criminal charges we shoudl have given them pensions as a punsihment?

    Oh well......when we are all dead it will not matter that our lives were poisoned to keep this destructive vermin in luxury.......and a plague on any posters who dare to say that 'Sir Fred' is a minor detail. He is a symbol of the the burial in shit of all the 'genuine hard working people'

  11. been buying a flat for the last two months. Offered £182,000 end November but circumstances have brought it down to £175,000 if I complete by end of month.

    Last flat in block went for £232,000 in April 2008, £220,000 in November 2007...it needs some doing up but I can afford it just....what should I do...I've a 10% deposit...am I risking losing it allo by taking it?

    Have till end of day to decided before they offer it to another bloke...help...woman on my own and mega confused!

    Who are they offering it to?.........the first person in a massive queue to buy?.....cash buyer?....or survey done and mortgage in place? The person probably does not exist. If the flat is such a bargain that it will sell so easily then they would not have to pressure you.

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