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House Price Crash Forum


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Everything posted by roger196

  1. Sorry to sound hard, but your mother should be advised to plan on the basis this share dealing venture could result in bankruptcy for dad. Any venture should be structured, if at all possible, so that ones personal assets are not at risk. This would normally mean a limited company or limited liability partnership (not sure if share dealing is one of the permitted trades so open to correction). Advise mother to make sure house is in both names ( or even better her name only), close all joint bank and building society accounts and revoke any loan or overdraft guarantees.
  2. [] Why does she not suggest to ex swopping the deposit in exchange for no maintanance for son.
  3. I would inspect roof from outside looking for missing tiles, chimney for poor pointing ( take binoculars) and gutters and drainpipes. Inspect outside walls for any cracks or poorly fitted windows. Lift manhole covers ( i take a wrecking bar) and ask owners to flush each wc in turn, this will tell you how well each drain works, repeat for each sink and bath. Inside the property, go into loft ( take collapsable ladder and torch) and inspect roof from inside. Go into each room, check each wall for cracks and windows and door for fit. Ask owner to turn on central heating and check each radiator co
  4. Rather than sacking staff, I would prefer the maximum salary in any public funded institution to be £50,000 per year. Those on £25,000or less not to be affected. To implement this:- Excess over £75,000 to be reduced by 100% Balance between £25,000 and £75,000 to be reduced by 50% Band under £25,000 no reduction. For public funded pensions, a similar process to achieve a max pension of £25,000 per year with those on £12,500 or less unaffected.
  5. The problem with politicians is that they have only allowed HMRC specific anti-avoidance provisions, which can be got round by the loophole experts, rather than general anti-avoidance provisions. A general anti-avoidance provision does not need retrospective legislation to the same extent. The difficulty with those jurisdictions that have general anti-avoidance provisions eg New Zealand, is that the judiciary have been very keen on restricting them. Some laws favour the rich and their friends. In contrast the social security system in the UK, which deals with poor people, has a very comprehe
  6. These types of shower frequently do not work because the holes in the shower head are blocked with scale and /or the inner rubber tube in the flexible pipe from the taps to the shower head has got twisted / collapsed. If cleaning the shower head does not work, go to B&Q or similar and replace flexible pipe and shower head. Cost about £20...a lot cheaper than all the aggro that seems to be being created.
  7. It is worth getting your solicitor or yourself to physically check that the property is vacant on completion day before handing over 90% of the sale price or a substantial retention to cover your temporary housing costs etc. I have had to do this in the past with, of all people, a building society manager who regarded himself as above the law when honouring contracts. I had warned my removal people to unload on the following day, which was not too difficult as I was moving a considerable distance.
  8. These situations look very similar to the forward and backward stock stripping operations which were prevalent during the fifties and sixties. If you have access to Tolleys Tax Cases, look at the chapters on artificial transactions in securities and artificial transactions in land. Then the underlying theme was to transfer income tax profits to capital profits, then not liable to tax as this pre-dated capital gains tax. Then the other objective was to remove an asset pregnant with profit from a limited company, so that the bulk of the profit would accrue to the favoured directors ( or their
  9. Has anyone considered that the failure to include a conditional clause ( inability to obtain a mortgage releases the buyer from the contract, common in France under Loi Scrivener) in the contract amounts to negligence by the solicitors involved. The reluctance to go down the court route may be an unwillingness to open this can of worms and some very expensive claims against the solicitors involved.
  10. Plenty can be done, Article 6 of the Human Rights Act requires that everyone is entitled to a fair and public hearing in determination of his civil rights and obligations. The Secretary of State might also have enormous problems with Article 8 which states that everyone has the right to respect for his .....home. There shall be no interference by a public body with the exercise of that right except such as is in accordance with the law and is necessary in a democratic society in the interests of national security, public safety or the economic well being of the country, prevention of crime, pr
  11. For JSA( and all other benefits) , the capital value of your main residence is ignored.
  12. Go to one of the snagging websites and download (for a small fee) a list of things to check and what to look for eg how do you spot subsidence ( and where to do research for similar problems at local council etc), how do you check electric sockets have been wired the right way round ( buy a test socket from B&Q or Screwfix)etc. This will enable you to carry out an initial survey. At this point, you either withdraw from the buying process as the cost of the faults you have identified are unlikely to be covered by reduction in purchase price Or you decide to go ahead with a full survey with
  13. Very simple, amend the relevant legislation that the life of a parliament is a maximum of seven years (it used to be this some years ago). I doubt if Cameroon would object, he has not worked out what to do with the depression. A win in 2010 is a poisoned chalice unless you are prepared to heavily cut public expenditure and hang a few bankers. Lifted from Commons website:_ The Parliament Act 1911 established the maximum life of a Parliament as five years. Parliaments have twice been extended beyond five years, during the two world wars. The 1911 Parliament was extended to eight years by the
  14. Great idea if it only applied to company directors and govt/local authority employees earning over £50,000.
  15. Not knowing full details, I can only give an outline answer. Also it is some years since i did a lot of tax, so may be a bit out of date. Tax law changes very rapidly. Seek professional advice, but the following is food for thought.. An outright gift is an potentially exempt transfer(PET) for inheritance tax (IHT) purposes. This means if the donor survives seven years, there is no charge to IHT on the donor's death. Gifts up to a total of £3,000 per annum are also exempt. There are also exemptions for gifts in consideration of marriage ( amount depends on relationship between donor and donee
  16. First I would ask the council about the terms of the HMO. Second I would ring up Corgi to find out if the person who did the safety inspection was registered. If the certificate is more than 12 months old, there is a criminal offence. Whether the illegality is sufficient to break the tenancy agreement I do not know. However you are putting your life at risk if the boiler is at all dodgy. See the council /CAB as a matter of urgency. Read up on the symptoms of carbon monoxide poisoning and install a carbon monoxide detector as soon as possible ( B&Q about £20). The repair work must be d
  17. First check there is a current gas safety certificate. Gas fires are much more potentially dangerous than room sealed boilers. If the flame is yellow not blue, it is dangerous as incomplete combustion is taking place ( methane being burnt to carbon monoxide rather than carbon dioxide). Make sure you have a carbon monoxide detector ( about fifteen pounds). Electric fires are a higher fire risk ( catch your nightie on the elements and you will see why). How old is the fuse box, does it have trip fuses or the older fuse wire types? Get a timer plug so the fire comes on ten minutes before you get
  18. The gas supplier is obliged to provide a supply to your premises and not to anyone else's. (look at the gas regulations on the HMSO website if you are bored. each premise needs a separate supply as if you are servicing/repairing gas appliances on one premise, you cannot check the appliances in the other....a highly dangerous situation. Do the other tenants have access to the emergency control valve at your meter, so that they can turn off the gas in the case of a leak etc. There are special regulations dealing with primary and secondary meters for blocks of flats.). In fairness to the supplier
  19. AFAIK the US did NOT pay off the debts incurred by the Confederacy, despite arguing that the Confederacy did not have the legal authority to leave the Union. Germany did not repay the debts incurred in the run up to WW2. I think the Germans also defaulted on their reparations under the Versaille Treaty in 1936. Mind you a very long time since I did history.
  20. By excluding repo's, they are "unknowingly" contributing to a false market. This is against the spirit if not the letter of S.3 of the Fraud Act 2006:- Fraud by failing to disclose information A person is in breach of this section if he— (a)dishonestly fails to disclose to another person information which he is under a legal duty to disclose, and (b)intends, by failing to disclose the information— (i)to make a gain for himself or another, or (ii)to cause loss to another or to expose another to a risk of loss. They are also contributing to ( ?aiding and abetting) Estate Agents making
  21. Just had a look at the Revenue website. The number of monthly property transactions for England (not seasonally adjusted) were as follows for March 2006 113,000 2007 119,000 2008 69,000 2009 51,000 The March 2009 figure is a fall of 57% compared to March 2007. The 40% jump for March 2009 is compared to February 2009. http://www.hmrc.gov.uk/stats/survey_of_pro...00-or-above.pdf
  22. Do you know the name of the bill?,thanks.
  23. The legislation is already there....The Theft Act. Quoting from a previous post of mine.... If the LL did not have a BTL mortgage, then the LL falsely pretended to the tenant that he was able to grant a 6 month AST giving the tenant peaceful enjoyment of the property for six months. Thus the rent was obtained by false pretences. IMO obtaining money by false pretences falls within the criminal code. If the bank are saying that the mortgage was not BTL, then you should consider reporting the LL to the police for obtaining money by false pretences. If you can demonstrate that the bank knew or b
  24. If the children go bankrupt, the Official Receiver will want to examine this transaction to see if it was at market value. Interesting times indeed.
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