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House Price Crash Forum

Now or never

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Posts posted by Now or never

  1. I specify a lot of HVAC equipment for new build apartments, social housing, commercial buildings, etc, usually around £4million per month. Number of projects seem to be reducing but still specifying around the 4 mark, though this month has seen a drop of 30% in project enquiries and value has taken a 50% dive; early days to make anything of it but significant if continues this way.

     

  2. 2 hours ago, Shy Ted said:

    Lets face it, this site has turned to shit. That HPC reminder about young people viewing was the last straw for me. Who the ****** under 18 is interested in a HPC? 

    +1 I’ve  never said much in the ten years I’ve been here, visit on a daily basis and have taken so much from it over that time, but content seems to be disappearing and what’s left of it feels diluted and repetitive. Feels like an end of an era; this site is dying.

  3. On 14/10/2017 at 10:23 PM, Saving For a Space Ship said:

    Are cheap Pcp cars helping kill the bike mkt?

    DOWN AGAIN: September motorcycle sales show more decline

    http://www.motofire.com/2017/10/news/down-again-september-motorcycle-sales-show-more-decline/

     

    My opinion is that it’s down to new blood being put off by all the tests. Don’t forget you have to do a theory (regardless if completed for car) and I think 3 practical tests now. If you add the cost of that plus any training, it can get quite expensive.

    When you’ve got the costs involved to get a driving license, which for 99% of youngsters would get priority, and then the additional costs for the bike license, I can’t see many taking it up. 

    Its only the existing license holders now buying bikes, and they’re probably dying of at the same rate as the sells.

  4. 8 minutes ago, oatbake said:

     

    - The lunacy of IO BTL and how landlords can outbid FTBs every single time (due to low interest rates).

     

    Definitely something I would share. With regards to the above point, I would add how housing benefit has made it so attractive at the tax payers expense. Why benefit is paid and who actually benefits.

  5. Installers were taking the piss back when feed in was initially 43p per kW. I worked for a manufacturer who gave me 50% discount on the cost of the components but we had to get an MCS accredited installer. They charged my parents £3000 just to install 2.4kW (half a days work) but they had no choice but to pay it.

    My parents have been very lucky though, installed the system over 3 years ago and have had all their money back when you take into account all the benefits. One benefit being that their meter actually runs backwards, so no need for an optimiser there! 22 more years left to receive their £1500 per annum Brucey bonus.

  6. Mr Lambert isn't happy.

    It’s not landlords the Chancellor has screwed, It’s tenants

    Responding to the Chancellor’s Budget announcement to restrict the rate of mortgage interest relief the basic rate of 20% from 2017, Richard Lambert, Chief Executive Officer, National landlords Association (NLA), said:

    “The Chancellor’s unwavering commitment to homeownership blinds him to the impact of the policies he proposes on the hard-working people he claims to champion.

    “This move does nothing support wider housing provision and will ultimately make Mr Osborne responsible for adding £840 per year – or £70 per month – to rents”.

    http://www.landlords.org.uk/news-campaigns/news/it’s-not-landlords-the-chancellor-has-screwed-it’s-tenants

    I think he'll find the landlords are screwed considering the majority of tenants have just had their tax credits reduced and housing benefit frozen!

  7. Forget about shared equity for a moment.

    If they had bought a whole house for £110k 5 years ago, had paid £7k a year mortgage since and now it was worth £75k wouldn't they have they "lost" £35k?

    Why are your shared equity people any better or worse off? Do you expect them to pay something for the 50% that wasn't theirs that they were renting?

    I suppose the difference is how much their mortgage has cost, plus fees etc in relation to the £35k

    Agreed, they would have lost 35K in mortgage repayments, but still be liable for a 35K loss in value, though it would be slightly less as the mortgage would have probably reduced by about 10K over that 5 year period, so an outstanding mortgage of 100K for a property worth 75K.

    I still can't understand who will be taking the hit, if you look on rightmove there are listings for SO percentages for more than they're worth - I'v seen EAs advertising 80K for 50% with property valued at 120K - 40K NE from day one - work that one out!

  8. So, lets make a few other reasonable assumptions:

    Purchase price:£210k

    Say £10k Deposit

    say £5k Solicitors fees, insurances, etc.

    £7k p.a. Mortgage on £100k

    and the above £35k 'loss' to him.

    Rental of 1/2 aq house say £3k p.a.

    added up over 5 years, gives:

    10 + 5 +(7+3)*5 +35 = £100k

    Its amazing how people can shrug off paying £100k for accommodation over 5 years and decide they haven't "lost" anything.

    As I keep saying, I'm referring to the fact he is not liable for the NE - the loss in value of the house. There is no doubt there will be a loss, anybody would have to take a hit because of the time period this has happened within regardless of how the property was purchased. Nobody shrugs off a loss but what choice do they have.

    You seem to be missing the point, compared to somebody who did purchase a property in 2007 (in the 'normal' way) they would have a huge loss, probably forcing bankruptcy.

  9. So they paid £110k with a 50% mortgage and rent for the other £110k?

    Now their £110k share is worth £75k. What is the balance of what they owe? They have been paying a mortgage for 5 years so have lost that money. They haven't escaped with not paying the 25% drop in value of their share, if their mortgage was £7k a year for 5 years, £35k isn't that what they lost?

    Maybe the title of the post was misleading, as I've stated before, it was the NE aspect I was reffering to, the fact you take no responsibility for the loss in value for your share.

    As I said, it's early days, when I know more facts I will post.

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