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the_duke_of_hazzard

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Posts posted by the_duke_of_hazzard

  1. 3 hours ago, spyguy said:

    Getting a mortgage was easy.

    Getting a mortgage that actually paid off the mortgage ~25 years later was very hard - see endowments.

    basically, if you could last the first 5 years, with ~9% APR and ~5-10% wage inflation, and keep your job then paying off the mortgage wasnt an issue - providing the mortgage wasnt an endowent, which  90% were.

     

     

    My dad had a mortgage book with the Abbey National back in the 80s. It definitely was not easy to get a mortgage, as people he turned down became enemies. When I wanted to buy a place in the late 90s, I was told I'd never get a mortgage as I was a temp.

  2. 10 hours ago, kzb said:

    How did he get a pension of £35k from a £40k salary?  I don't believe this can be correct, and especially at age 51.

    It's 35K now. He was on a final salary pension, and maxed out his AVCs when I left home. He had colleagues who are now on pensions of 60K+.

    I recently showed him the annuity rates on 1mGBP for a similar deal and he was deeply shocked.

  3. On 13/08/2021 at 11:25, kzb said:

    So are you trying to tell me someone on £100k is worse off than someone was on £40k ?

    Yes, that's exactly right. My dad was one of them, worked for a bank in middle management, retired at 51 on an index-linked gold-plated pension of 35K a year and the mortgage paid off.

  4. 19 hours ago, bearishonhouses said:

    Is it not the case that only the gain on his 'principal private residence' is tax free?   CGT is payable on the gains on the other two houses.

    Also... central london property has nose-dived, hasn't it?

  5. 6 hours ago, Saving For a Space Ship said:

     

    Is this Hyperinflation ? 

    European retailers face goods shortages as shipping costs soar

    https://www.ft.com/content/40d23da5-c321-4b56-8ec7-551573a7a485?list=intlhomepage

     "one of its members had been quoted $16,500 to ship a 40ft container, up from $2,150 in November."

     

     

    Our oven compartments broke mid-December, and our landlord has been unable to source a new range. Even if one could be found, the major retailers are not installing them. They won't even leave them outside. It's not just us, another tenant has been waiting on a fridge freezer since before Christmas.

  6. 31 minutes ago, Pebbles said:

    This is land registry data every single data point is published and you can make your own index from it (download the CSV file and make your own index). It is about as gold standard index as you are likely to get.

    This. The ONS is a world-beating organisation.

    I once looked into how the CPI/RPI figures were created when people on here said they were fiddled. The transparency and thoroughness of the whole thing blew me away.

  7. To me, sitting here in London looking at prices falling, it's obvious: London is being hollowed out. The rises elsewhere is London money fleeing the capital.

    After this shockwave (2-3 years if people don't got back to the office 5 days a week), we'll see prices fall again around the country as wages adjust accordingly.

    Happy days for me, I've waited 20 years for prices to fall in London.

  8. 5 minutes ago, Si1 said:

    That's not really an answer. I realise the rich, invested in assets, have been ok. But the sources of their incomes are still weaker if not their capital. And I doubt China as a nation state is keen on its citizens investing in the UK much more, via real estate or higher education, given the diplomatic chill, Hong Kong, and our poor covid19 management.

     

    Right - a lot of governments will be making cash calls on their oligarchs to stave off riots. They will be even less likely than they have been in recent years to see the money slip out.

    Be interesting to see what the US does with its elite come November. Biden could try and soak the rich with the young behind him and buy off the poor helpless masses who previously voted Trump because globalization.

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