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House Price Crash Forum


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Everything posted by tboy

  1. Haha, sense of honour...this is a business deal, not my problem the system requires no downpayment until the point of exchange. Hate the game not the player... Seems like I'm in the wrong place here asking for advice on getting a house cheaper, you guys all seem keen on overpaying, not what I was expecting.
  2. So I've bought a house in London...agreed price a few weeks back, gone through the legal stuff and mortgage application etc, and should be ready to exchange soon. But the seller seems desperate..hit a low offer having already cut asking price a couple times, hassled my solicitor to hurry up to get to exchange, etc. I'm considering dropping the price at the last minute. Paying over a million quid for the place (it's London so not even anything fancy!). Any thoughts on how to pitch it, other than "market feels very weak, I'm only paying xxx now, take it or leave it" ? I guess if they did leave it, I'd only be mildly disappointed, and just have some solicitors costs to pay.
  3. Seriously, use Property Bee...it's amazing information that 99%+ of people will just not find. Get Firefox Install Greasemonkey add-on. Install Property Bee. Simple. You can thank me later.. Good idea on planning, not something I ever look at.
  4. Beautifully put. Sadly will never happen.
  5. EAT have 3 shops within a 1 minute walk (no joke) of my London office. Saturation?
  6. yeah, i have been....also got as wide as 7.2 on the YES vote being between 50-55%...seem amazing odds to me, I feel the pollsters are underestimating some element of the vote...across Facebook polls it's crazy biased to Yes, like 70-90% usually...though obv skewed to the younger voter base and missing out the older votes where No is more likely...but even so...market seems way too con fident on the 52-48% polls that have been coming in. Am pretty large on this trade but thinking of getting bigger !!
  7. Never, ever, let them have a new tax. Remember Air Passenger Duty? Was a tenner when Broon brought it in I think, now can run a couple hundred quid. Think land value tax won't ever affect you? Just you wait.
  8. Are you sure? I bought mine from receivers last year but it's on LR.
  9. Definitely. I keep telling the "London can't go down" crowd how London has been ugly several times over recent years...2005 I felt like the only buyer around at times, some amazing properties were just sitting on the market for so long. I saw one recently offered for almost triple what it was at back then! (Tower bridge area)
  10. Well my own recent experience...am not currently working (should be starting again soon) and wife part-time making <£20k a year...asked TSB about getting a BtL mortgage to buy a place in London which was a bit over £1mm, they said they didn't even need to know what our income was, they could do it in principle no problem at all at low-3% for a 2y...had a decent deposit in fairness, but 50+ times income? Insane...I reckon BtL mortgages being used to get around new rules limiting owner-occupied ones.
  11. Like Savills charging me 50 quid to replace a lightbulb cos they needed an electrician in to install it?
  12. Agreed on a house to buy a couple months ago, no chains involved, survey done quickly, financing immediately in place, everyone wants to move quickly. A modern house so wouldn't have thought any issues would come up re: survey or searches and that proved to be the case. Yet it just drags on and on, seems like lawyers at both sides just take forever to send documents, get things done, etc etc. I have read all the stories about this before, but really thought my case would be different and I could go from start to finish in maybe 3 weeks. All I can think is that lawyers are well trained to not hurry anything up to maximize fees (though its fixed fees in my case)...
  13. Ah another person who doesn't understand percentages. If tax was a flat percentage rate no matter what you earned, you understand those who earned more would still pay more? I assume so, so what's your justification for increasing percentages also?
  14. I just don't understand why people would borrow money on terms where the lender can choose the rate (ie. SVR)?
  15. Some of us are traders, some of us aren't. You can stay amongst the sheeple ie. with no opinion on anything, but I like to put my money where my mouth is...yes I think GBP will appreciate against many currencies, we're one of the few countries where the government is facing up to our debt problems. I'd buy GBP against EUR,USD,JPY,AUD, and don't think you can go wrong. Seems to be substantial upside in some of these too. Edit: typo
  16. Not even sure you need to die. I have a friend + wife living in their parents council house in central london (parents don't live there now), I thought it had been passed on to them but maybe they'r just on the dodge. Anyway they don't even want to live there but its so cheap they say they'd be crazy to move out. Combined salary easily 100k plus.
  17. Do you think there's a delay in reporting numbers? Very curious as I'm in islington, my impression from rightmove via property bee is that despite the crazy prices, stuff is selling. But always hard to tell.
  18. Many thanks all. I got a couple more quotes, one higher and one lower, so looks like it'll be <£2000 all-in including the outrageous land registry fee of almost 500 quid. I can see a couple of posters here aren't keen readers...no, a £2500 quote on a nearly £1mm place doesn't cover the £25k+ stamp duty...this country's tax-the-"rich" policy means that for my <1000 sq foot property I'll be paying 10 times the tax that someone in another part of the country would pay (I reckon most cities would be under £250k for a flat my size, so under £2500 stamp duty at 1%.) Feckin' London. But I still love the place.
  19. So I just bit the bullet and had an offer accepted...now looking at getting a lawyer, I seem to be getting quoted around £2500 all in (solicitors fixed fee + vat + searches + bits n bobs + land registry fee)...is this normal? Surely it can't be that difficult to draw up a contract, especially a new-ish property? Property cost is best part of a million quid (London, innit). Between that, the surveyer and the stamp duty, no wonder there's so few houses for sale, the cost of moving is insane!
  20. I would have thought Docklands/Canary Wharf wasn't doing so well, seems like the banks are generally moving back into the City and shunning the wharf. That area is universally hated by bankers as far as I can tell.
  21. Islington. And I'm talking the ~500k-£1.5mm range. This is my impression from looking at rightmove using property bee....high asking prices and stuff is moving. + i have a good idea of what the current place i'm in would sell for compared to 2-3 years ago (15-20% I reckon). And City guys are buying across Central London.
  22. It's true. Much as I hate to say it. I've lived (renting) in Central London for 10 years plus, I've moved around several times, and I even nearly bought a couple of times. I like to think I know the rental and sales market fairly well....in my area, it's out of control. Stuff is up I reckon 20% over the last couple of years if not more on the nice stuff, and it really is selling. I'm desperate to buy a place but just can't bear to pay the price!! It's definitely banker money, I'm in the City and friends and colleagues are def buying...not in droves like in 2007 at the clear top, but definitely happy to trade up, or buy a nicer place. I get the impression none of them sell either, just rent out the current place. How depressing....and also, rents are up a lot also, it's crazy how little you get for the money...this was not the case in 2009, when the rental market was VERY soft (and I last negotiated on my rent).
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