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deflation

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Everything posted by deflation

  1. To get the 20% interest free, you need to apply for a 75% mortgage. It'll be difficult to completely hide all your circumstances (you'd need a fake separate address I'd have thought) and since it isn't actually a gift, i.e. you DO have to pay it back, would it be worth the risk?
  2. Personally, I used the scrappage scheme because it made buying a new car more reasonable. Sold it after 6 months. I doubt I'll ever buy a new car again (lottery win notwithstanding of course).
  3. Current a/c -£14bn instead of the forecasted -£12.8bn though. Oops.
  4. Is it me or are the maths complete cobblers in that? You sell a house for £5k less than you bought it for, but you have "built up" equity!
  5. I would agree that more and more people are having cars 'on the knock.' As people in their 40s and 50s (which includes me) have grown older, we are less inclined to maintain our cars ourselves, and generally want an 'easier life' regarding cars and their reliability. After all, they're getting sod all on their savings. 2 of my friends now lease cars for 3 years at a time who in their previous 30 years of driving always bought their cars. I would be interested in the demographic of car finance to private buyers. A lot of under 25s (free insurance) and aged 40+ possibly? The fact it isn't actually 'their' car, bur a finance companies is something some people are almost embarrassed to admit. The car companies are becoming very good at marketing cars as only £xx per month, failing to mention the often large deposits. I've almost been persuaded myself.
  6. Farage frequently, and again tonight, admitted that mass immigration had been good for big business because it suppressed wages and gave them cheap employees. By repeating this, he doesn't sound like a true Tory on the side of the big firms to me. And mass building of social housing, so depressing house prices isn't that Tory either.
  7. Nigel Farage is on Newsnight in about 3 mins, after Larry Summers criticises the Tory policy.
  8. I'm not sure it's up to date. 1.2.2 outlines the imposition of HIPs on us by the EU. They were got rid of as soon as the coalition was formed in 2010. Only the need for an EPC was retained. Interested that they would make gazumping illegal, adopting the Scottish system for the UK.
  9. A lot of money has come to London precisely because hard assets don't get confiscated here (except after a proceeds of crime case). They've been deemed illegal and bulldozed in Spain, probably elsewhere too. And other govts probably seize your stuff at a whim. There is a lot of property ownership law in the UK, and the increased taxes on offshore property holdings will hold up because foreign wealth funds would rather pay a tax than risk losing the whole thing in another country. However, I think a lot of money for property in London is mostly here already. That could change if there's whiff of bank deposit seizures elsewhere. We don't need The Funding for Lending scheme, when we could tap into this foreign wealth by having a Foreign Lending Scheme. UK passport if they lend to a FTB?
  10. In that case, it's part of the scheme starting next year. These loans aren't interest free, it's a 'guarantee' to the lender to encourage them to lend. There's a treasury scheme outline now, and covers what happens if there are defaults on page14. http://cdn.hm-treasury.gov.uk/help_to_buy_mortgage_guarantee_scheme_outline.pdf
  11. Why not? You're not believing the press about their 'xenephobia' are you? They are anti-EU, not anti Europe. Farage's wife is German.
  12. He was much more measured and less ranty than usual on the Jeremy Vine Show on R2 today, about 12:10 pm. I think he did well in what was only a 10 minute discussion.
  13. I don't know if it's Europe wide, but I can withdraw £500 a day if required. As far back as 2004, I could get €450 from a bank ATM in Spain in one go.
  14. The average time anyone stays in one home is 7 years, so it;s only slightly less than the average. People who move a lot heavily offset those (and I know some) who've been in the same house 30+ years.
  15. Bank levy plan scrapped: http://www.bbc.co.uk/news/world-europe-21875246 "Cyprus is required to find 7bn euros (£6bn; $9bn) in order to get a 10bn-euro EU-IMF loan, but it is not yet clear what new proposals Cyprus has for finding that money...."
  16. It was widely reported last Dec: http://www.bbc.co.uk/news/uk-20768345 I suppose not all changes get debated, and it was an amendment, not a new law. It's important though so if the opposition really cared, they'd have kicked up a fuss in the commons, 10 minute rule bill, question to minister, whatever weird ways they do this.
  17. 90 days was the norm when letters were the major form of communication. Getting people together for selection meetings took a lot of time, applying for jobs and arranging redundancy the same. You could always get round it by laying off less than 100 anyway. In the era of near-instant communication and computers, 90 days really isn't necessary, it almost prolongs the agony. In fact, for some employers it gave time for people to jump before they are pushed, so actually saving on redundancy payments. I have a relative who did this, calculating that if she waited, there would be a lot of instant job competition in the same area for people with the same skills. If you lay off 20-99, you only have to give 30 days as it is.
  18. Good point. However, I doubt you would owe 20% of the value, only the amount lent, since that would require a load of re-valuations to be carried out. Hang on, new jobs.... govt 'valuation engineers.'
  19. Have you made a Freudian slip? They actually flew out €1 million, not pounds. However, they may have to fly them back and replace them with £ sterling so that the troops / civil servants can buy Cypriot pounds. They'll get a better rate than to the €. They've probably still got loads left in a vault anyway, having only had the Euro for 5 years.
  20. That 'up to 20%' interest fee loan Help to Buy is only on new builds. At least, this year...... I doubt the overall effect will be more than slight. The chance to remortgage next year for those with high LTVs may well suck up most of the funds without many people actually moving house.
  21. Not that much of a dig really, he agrees: ".. when even estate agents are openly worrying about Government intervention inflating a house price bubble, prospective borrowers should beware of using easy credit to pay too much for properties whose price may fall."
  22. I think debit card payments will be working OK. It's an unusual way of reducing the cash in circulation, and hence, the 'black' economy.
  23. It isn't clear under the new buy scheme if you have to have a mortgage. Being devil's advocate, if I have enough to buy the whole house, why not take advantage of a 5 year interest free loan? I think the problem here is that developers won't take a haircut if they're struggling to sell because punters can get 20% loaned to them by the govt. So you have to pay the full, over-valued price for a new build to get one.
  24. I agree, and so did a spokeswoman on Today on R4 this morning. After listening to a rant from a stay at home mum, it was mentioned that mothers who stop work when they have children are on mumsnet a lot and treat their decision as some kind of badge of honour. I did smile.
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