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Everything posted by roger196

  1. If they are going bankrupt, HMRC are unlikely to be interested. No point in going for interest and penalties if there is no money to fund them. First rule in any investigation case.
  2. There are a number of possibilities 1 Ring trading standards ( phone number in tel directory). 2 Ask the firm for a copy of their complaints procedure, then go to OFGAS 3 Look at debtquestions.co.uk for helpful ifo on dealing with debt collection agencies 4 Go to CAB
  3. If monies are being paid to a third party to escape creditors, there is a strong suspicion of fraud. If a solicitor is involved in fraud, they risk having their practising certificate withdrawn. You need to be very certain of your facts before making any accusations. A repossession hearing would give you the opportunity to examine the LL and his father on oath. There is nothing stopping you writing to the building society ( you can get the name from the land registry), asking them to confirm that the mortgage is proper for letting as you have heard terrible tales of tenants being evicted at ve
  4. If you look up the property at the Land Registry, there should be the name of the bank which has the charge on the property. Then give the banks legal department a ring. If the bank has not achieved best price, persuing the owner for all of the shortfall will prove difficult. You could try speaking to the neighbours, they might possibly know where the owner is now living. They may be reluctant to give out such info, thinking you are a debt collector. You could take a letter explaining your position and contact details, which the neighbour might pass on if they bump into the owner. Many rep
  5. I have come across cases where the wife has g'teed the husband's business overdraft. At the time the g'tee was given the overdraft limit was £10,000 which was regarded as acceptable. Later the wife found out that the overdraft limit had been upped to £50,000 and she was still liable. Properly advised she would have g'teed the overdraft up to a maximum of £10,000 for a period of three years ( or whatever peiod the business plan required). The banks may not like this, but you need to protect yourself. Another problem is for the wife about to divorce who has g'teed the business overdraft. Here
  6. If you ever give a guarantee, limit the time and amount for which you are liable. In this way you know the exact amount of any potential liability. It also exposes any hidden liabilities which might be lurking in the contract.
  7. I have analysed the monthly percentage seasonal adjustments for the last four years taken from the Halifax data. The table below shows the figure for each month and the average over four years. The sum of the averages for the whole year come to zero, which shows the method is numerically sound. I have doubts as to the reasons why the January adjustment is so high. Percentage seasonal adjustment. 2005 2006 2007 2008 2009 Average Jan 2.39 2.47 3.01 2.60 2.60 2.62 Feb 1.71 1.56 1.62 1.56 1.61 Mar 0.82 0.60 0.47 0.51 0.60 Apr -0.35 -0.70 -0.98 -1.18 -0.80 May -0.99 -1.24 -1.32 -1.34
  8. [quote Old debts would have to be paid off in euros. Wishful thinking. Any country leaving the euro would only continue to recognise debts that were converted into its own currency on the day of departure.
  9. Have a look at http://www.home-repo.org/ for what happened in the last crash. Try to negotiate with the bank for a total /partial write-off of your negative equity in return for voluntary surrender. Much depends on your negotiating skills....good luck. Proper documentation is vital Roger
  10. "But we have equity in the house of approx £50k I did call HB and she said they couldnt say until I put an application in but I was wondering if anyone had been in this situation before? He will stay in the house and I will rent, but will that stop me getting HB, do they class monies in the old house?" You need to look at the dwp guide to Housing Benefit at http://www.dwp.gov.uk/advisers/rr2/ The relevant paragraph appears to be If you have left the property after the breakdown of a relationship, and it is occupied by your former partner, its value may not be counted for the first 26 we
  11. For statistics, go to www.hmrc.gov.uk and look under statistics. Published quarterly For calculations of WTC/CTC for incomes between £90 and £700 per week go to www.dwp.gov.uk and search for Tax Benefit Model Tables. They also include housing benefit and council tax benefit. If you want to tailor these tables to your individual circumstances eg level of rent paid, council tax paid etc, you will need to ask for a copy of their spreadsheet. Be warned, these tables do not cover people working less than 16 hours per week nor if they have capital. Be aware that the worked examples at the back have
  12. You might be eligible for housing benefit. Worth a trip to the CAB to get a check. Worth reading thru the dwp guide( about 100 pages) to be found on www.dwp.gov.uk ps avoid the leaflets as they are too brief to be of any use. You will also need to read up on local housing allowance. Guideance on this can be found on your local authority website. Critical factors are your age and deemed income on capital.
  13. A quickie list 1 What is a market 2 What is the housing market 3 how does it differ from other markets 4 What is the UK market, does the Scottish market behave differently from the London market etc 5 What is credit 6 What is a credit crunch, is it good or bad 7 Where is the credit crunch 8 What is impact, how do you measure it, is it good or bad 9 Crucial....direction of casuality, evidence to support this, examine various theories on this 10 How do present developments differ to ones in previous crashes 11 have international changes effected the UK market or vice versa 12 predict
  14. She needs to look at Earmarked Capital in the Housing Benefit Regulations Schedule 5 paragraphs 2 to 3. The DWP Guide states (Dec 2005 edition) "If capital from the sale of a house is kept for a house prurchase, it is not counted for up to six months...." She has sold her half share in her house. AFAIK not relevant where the purchaser ( her ex) got the monies from. For a complete answer, she will need to check tribunal decisons in this area. Thes can be found on www.dwp.gov.uk I think the adviser has confused the situation where a couple have re-mortgaged when the capital raised would b
  15. Part of my evidence eight years ago to the Treasury Select Committee on Housing Benefit was 3 The identity of the ultimate beneficiary of a particular benefit is not always obvious. For housing benefit it is either the landlord ( rented property) or the building society ( for owner occupied property). In effect HB is underwriting poor loan decisions in a similar way to the Loan Savings scandal in the USA. Only those on Income Support or Jobseekers Allowance get help with their interest payments on their house mortgage. It is paid as part of those two benefits). The result is overpriced house
  16. From www.hmrc.gov.uk What happens if land or buildings are sold for less the value on which IHT was paid? If land or buildings are sold within four years of the date of death for less than the value on which inheritance tax was paid, you may be able to claim relief for loss on sale of land using form IHT38. Full instructions for making the claim are given on the form.
  17. The most interesting parts about the Halifax figures are the price earnings ratio. For Nov 08, this is 4.56 (average house price £163,605 divided by average earnings of £35,878). The long term average is 4.0 which would give a house price of £143,512. The ratio was below 4.0 for ten years between Q3 of 1991 and Q1 of 2002. The lowest point was 3.09 in Q4 of 1995. This would equate to an average house price of £110,860. The fall may be considerably higher if there is a substantial fall in average earnings. This is likely with an economic recession. Apologies if this analysis has already be
  18. For accounting purposes, the builder has spent 120K. When he sells for 115K, he has lost 5K. I was just interested whether the LR figures report losses as profits or not. Does the index report a rise in house prices ( 100K going to 115K), when the reality is a fall from 120K to 115K.
  19. How does the LR index deal with the following situation. Builder buys house for 100K, spends 20K doing it up and sells for 115K. Is this a price rise of 15% or a fall of 4.16%
  20. It is straight forward to check the diverter or 3 port valve. It is usually located near to the hot water cylinder. There are three pipes going into this valve. AB comes from the boiler. A goes to the CH, whilst B goes to the hot water cylinder. The rest position is usually port B. Set cylinder thermostat to min and roomstat to max. Turn on CH. If you can get someone else to do this, you can hear the valve motor working. The boiler and pump should start After a couple of minutes, pipe AB should be hot as well as pipe A. (hold pipe gently ten inches either side of valve to feel flow). Afte
  21. A few more thoughts. If you are not confident/competent diy-wise, do not touch but the following may give you greater understanding of the problem. Be especially careful around electric cables as water and electricity are not a good mix. Powerflushing works by turning off all the radiators except one and pumping cleaning solution through the one open radiator. That rad is then turned off, another one opened and the process repeated. Have you bled all the rads. If a rad is cold at the top but warm at the bottom it needs bleeding. Make sure CH is off when you bleed or you will suck in air. A
  22. The LL has tried to solve your problem by powerflushing which is not cheap. The engineer did not understand the problem and thus was unable to solve it. You need to take helpful action to keep LL on your side. Post your problem on diydoctor.org.uk under central heating. State the make and type of your boiler. The age and type of CH system. How warm each rad gets. Is there a roomstat, what is this set to. Is the pump working. the more info you give, the easier the problem is to solve over the web.
  23. there is a provision not to count earmarked capital in the Housing Benefit regulations Schedule 5.2 of Statutory Instrument 1987/1971. you will need to look at the legislation as the conditions are complex. There may also be departmental interpretation of "the completion of the purchase of your new home is "unavoidably" delayed". Look at dwp.gov.uk for the legislation and guideance notes.
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