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House Price Crash Forum


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Posts posted by righttoleech

  1. Perhaps You lot can help me out. What would you do in my situation.

    I retired a few months ago aged 50.(I wont go into the boring details of why I retired so young)

    Pension is about £550 a month. I can afford to pay off my mortgage with savings. I find that even though I lost my job and have worked for 34 year I am entitled to no benefits at all. ( unlike some one that just got off the boat from Poland).

    I have found another job and I am working at the moment.

    My question is should I sell the house and blow all the money over the next 16 years and then rent and get HB or do I keep the house and keep working?

    In the end I don't think I will be any better off than some one who has never worked.

    Minimum age to deaw an occupational pension is now 55. Do you mean BTL?

  2. Heard him on the radio this morning.

    Apparently the state pension triple lock will be kept to 'reward savers and those who worked hard'. And here was me thinking it was a naked re election bribe.

    In any case, apparently the problem isn't pensions and pensioner benefits, it's housing benefit for under-25s, and the problem of couples on 60k incomes living in council housing.

    So they will offer a 70% discount for those lucky 60k income couples who have escaped the horrors of private renting to buy a 'giveaway' at our expense.

  3. It does seem like the system in the UK is rigged to inflate house prices, i.e. QE and artificially low rates. So being a renter in that environment isn't a great option.

    Although stamp duty does does complicate the issue. It's like the Government gives with one hand with the Help to Buy scheme but takes away with the other with 3% stamp duty.

    A loan is not a gift. It has to be paid back. The purpose of this HTB loan is to enable you to buy something you can't afford in a bid to keep prices rising until the 2015 election. I can't imagine any tricks that could keep prices rising beyond 2015, but they have surprised me before so who knows?

  4. Rates can't raise because the govt is having to borrow £100bn a year to stay afloat. It can only do that with cheap money. Borrowing that amount at "normal" rates and the UK's biggest expense will be interest repayments rather than social security.

    Policy makers have got themselves into a corner but they just hope the 5h1t doesn't hit the fan whilst they are in charge.

    It would be interesting to see the terms of existing UK government debt. If it is loaned at a fixed rate for 5 years+ then rising rates would not be so damaging.......also they would collect more tax from savings accounts if rates rise.

  5. Soap characters lead strange lives. They are housed in places that would rent for 2 or 3 times the menial wages their employment would pay. They drink like alcoholics but never fall to liver disease, in fact they never have coughs or colds but frequently die violent or unusual deaths. Many marry divorce then marry the same person again. the bride or groom normally 'cheats' on the stag/hen night, and it is rare that both parties turn up for the wedding. Most transactions be it a round of drinks that would be a days knicker factory wage, or a newspaper are accompanied by the purchaser chanting 'keep the change'.

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