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About jcpricewatcher

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  1. I know a few people from China who have bought several properties in London. Some have bought for their children to live in whilst studying in London (for some reason they still think that it is prestiguous to have a UK education). Others have bought as a safe store for their cash (they don't trust the Chinese government and cash in the bank in China earns no interest, much safer to spread your cash overseas out of the reach of the government. - Just like cash rich people in this country would be wise to spread their cash amongst multiple currencies). None have borrowed - all straight cash buy
  2. I'd hate to commute 3hrs each way per day. I moved a further away and my commute changed from 20 mins each way to around an hour each way. At first it was much worse, but I guess after a while you sort of get used to it! An interesting question though... Whats the minimum you would have to be paid to consider taking a job which meant you had to be involved in a 6hr round trip daily commute? (for arguments sake lets say it costs 900 per month and you cant live closer because of family and you commute to different places of work which all happen to be exactly 6hr rounds trip from you home using
  3. I do agree with the others and that mortgage rates will rise (for new mortgages the spread to boe will rise). For that reason if you are to buy now or own now, remortgage yourself to a nice low lifetime boe tracker. A lot of people I know who either own or buying now/soonish are booking up with the HSBC 1.49%+boe lifetime tracker. (1.99% though need 40% deposit not a problem for most who bought 4+years ago) new buyers can still get 1.68%+boe with 30% deposit. But to be fair if you're spending 500k plus on a house in London hopefully you'll have at least 25% deposit built up.. I definitely do
  4. I say scrap road tax, reduce fuel duty and put tolls on the roads in a similar way to france. Oh and makepublic transport cheaper. At least foreign vehicles would actually have to pay to use the UK roads then. At the moment UK lorries have to pay UK road tax, then French and Spanish tolls. Whereas foreign ones pay nothing towards the UK roads!
  5. In the scenario you mention, it makes complete sense, especially if it's to be used frequently like you say. Accommodation during holidays is especially expensive in this country and if the place is just a drive away (a few hours), then there isn't the hassle of taking flights with kids. The familiar place for the kids would also be good. Of course if you are paying a big monthly mortgage in order to pay for the holiday home then it starts to make a lot less sense. Its also nice of them to let their friends stay for free... As some people say it's not all about maximising rate of return!
  6. Lol very true! And I completely agree with you. However years ago had I instead of investing in rbs shares, spent the same money "investing" on a new car, I would have lost a hell a lot less! I do also remember once a used car salesman trying to convince me that if i traded up to a newer car of more prestige branding, I was building up equity in my car and that you can then keep stepping up the ladder with each successive car change.
  7. This flat is up for sale, and it's going cheap for the area... £265k http://www.rightmove.co.uk/property-for-sale/property-26606772.html Hope no one buys it without googling the address first! Interestingly, I wonder how much of a discount someone would need in order to buy it. It seems the typical storyline for a horror movie - People unkowingly buying a haunted house because it was cheap... How much discount would someone need in order to buy a property with a bad past?.... --------------- f.y.i..... It's top floor flat of 23 Cranley Gardens... http://en.wikipedia.org/wiki/Dennis_
  8. If you don't mind ex-council hi-rise, you can pick something up around the Canada Water area for well under your budget.. For example this 2 bed with great views of London is on at what seems a reasonable 185k. Though of course given most ex-Council 2 beds fetch 250k and most non-ex-Council flats cost about 400k, you'll have to look closely yourself to see if there's any problems with this flat itself... http://www.rightmove.co.uk/property-for-sale/property-40520468.html I used to live around the area and it's a quick commute on the tube (about 15 mins to city and 5 mins Canary Wharf), Cycli
  9. That's the sort of idea I had in mind when I first moved to London over 10 years ago (taking a London pay premium). Oops on the last bit though!.... Has completely negated any of my original plans... So you're completely right!
  10. I completely agree. Though could you imagine trying to buy either a new car or a house with cash these days? - People would think you were a criminal....
  11. Exactly why quite a lot of geeky and academic types end up in the industry. Instead of working for 10 years doing something else, you can work for 3-5 years and do whatever you want for the remainder. Alternatively it's one of the very few ways you can afford to buy a nice house and be able to raise a family in Greater London without saving until you're about 40.
  12. Someone might try and claim that the salesman said: "'Interest Only' means you pay the interest only, as in you only have to pay the interest and nothing else each month...." Buyer: "Oh, that's so much cheaper than the other mortgages, what a great deal, I'll take it."
  13. I think your underestimating how stupid people can be. Have a read of this thread if you want some representation of 'normal' middle class family thoughts on mortgages.... http://www.mumsnet.com/Talk/legal_money_matters/a1672390-what-happens-when-a-mortgage-ends Extracts from the beginning of the thread... which hilight some of the lack of understanding, before other people join and break the bad news.... KatherineKrupnik Wed 30-Jan-13 14:20:15 Our mortgage was a 2 year mortgage that finishes in a couple of months. What happens?! Do we arrange a new mortgage to carry on seamlessly or are
  14. As a previous thread discussed, although 100k sounds like a lot, many people on that would say it doesn't actually go all that far if you're living in London with a family. Which then further underlines that it must be so much worse for the majority of people who are on far less. (Particularly those who earn just above the threshold of any government help). £100K Isn't A Decent Salary For A Family In London If that's 10k a year without taking a single penny of tax credits or housing benefits, then that's very highly impressive going.
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