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itswinter

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About itswinter

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  1. I agree, they appear to be having a laugh. The TDS is there to mediate on such things as this, though you'll need to put forward your issues to the agents first to see if it can be resolved without their assistance. I recently moved out of a house we'd been renting for over 5 years; the agents were extremely slippery. They wanted £162.50 towards the cost of decorating the house, the total cost for which was £500. The agents logic was that the decor had a life of 5 years, so was to be depreciated at 20% per year for fair wear and tear. The agent compounded that 20%, to give 500 x 0.8x0.8x0.8x0.8x0.8 = £162.50 residual cost. The agent said that this was the TDS way of calculating the cost of repairs so there's no point in questioning it; when I pointed out his error in calculation (it should be £500 - 5x0.2x500 = £0) he suddenly retracted his earlier statements and agreed the decoration was not our cost. He was the senior checkout inspector so clearly knew what he was doing, and was just trying to con us out of money by baffling us with maths. We also got stung with the cleaning costs; I spent many hours cleaning the carpets to a standard that I thought was better than when we moved in. However the photos taken on check-in were very general overviews of the carpets which, in the photos, looked ok. On checkout they took very detailed close-up photos of any stain to prove it was still dirty. In hindsight I should either have taken hundreds of photos when we checked in, or just not bothered cleaning it at all when we left and saved myself 10 hours of back breaking cleaning! In the end we paid it and just moved on with our lives, and didnt raise it with the TDS. However, in your case it sounds like there are fair grounds for doing this. The one positive you can take away from it, which is what we did, is that the deductions only work out at a little over £6 a month while you were there. Makes it a little easier to swallow!
  2. I agree - go for the longer term option and then overpay the £100 each month. Most mortgages allow overpayments up to £500 per month without any charges. That way you get the flexibility to stop overpaying should you need to, though if you continue overpaying will clear your mortgage in the same time as the shorter term one.
  3. When I finally buy a house i'll probably get a 30 year mortgage rather than a 25 year one as the interest rate is identical. For example, if the monthly payment over 25 years is £600 yet the 30 year monthly payment is £550, then i'd opt for the 30 year mortgage and overpay by £50 a month (total £600). I would repay my mortgage in 25 years, and the overall cost qould be identical. It makes perfect sense to have the extra flexibility of lower minimum payments even if you can afford the higher ones, just in case you fall on hard times. I do agree however that opting for a longer term in order to afford a more expensive house is the road to ruin.
  4. Thanks for the advice, I'll blank out the mortgage amount as suggested.
  5. My wife and I are seriously contemplating putting an offer in on a house; we've been holding off for years on the strength of what the wise folk on this site have said, but we've finally decided that the time may be right to put in some cheeky offers. We have seen a house for sake at £150k that we like; as we're first time buyers it's all new to us so we're not entirely sure how to go from here! The agent selling the house has asked to see our mortgage in principle before passing on our offer to the vendor. We have a 35k deposit but dont have an MIP yet, and I'm not sure how much we should ask our mortgage provider for. Do we: 1) Get an MIP for about £100k (plus our deposit) which is our starting offer, risk the offer being rejected and then have to go back to our mortgage provider to get a higher MIP or 2) Get an MIP for about £110k (the most we would want to borrow), show that to the estate agent and then them immediately know the extent of our budget and therefore hold out for the full amount. Having never seen an MIP i dont know what information is on it - i'm sure i'm not the only person who has wondered this! Thanks in advance
  6. You're quite right, nothing illegal or underhand here. Just very clever. Still, I reserve the right to be irritated by it....INVEST in DFS??
  7. I did indeed. Sadly I couldn't persuade the lady on the checkout at sainsburys that they're practically real money.
  8. Some months ago i almost bought a sofa from DFS - i thought better of parting with £1200 after leaving the store and got my money back, but i'm still on their mailing list. Anyway, I got a letter this week from them, inviting me to their sale on Sunday. TI'll quote the fist paragraph: "With mortgage payments lower than ever, fuel bills coming down at last and not forgetting the VAT cut, now's the perfect time to invest in a bit of DFS comfort - before prices shoot up again" Such blatant manipulation of peoples fears, and the facts, makes me angry! I hope nobody pays attention to this drivel and parts with £2k when they probably need the money most!
  9. In my experience the leasing companies are not interested in selling to individuals - easier just to dump it through the auctions. A few people i know have asked for quotes from the lease company to buy their old company car when it goes back, only to receive quotes way in excess of what you'd sensibly pay at auction. In each case they've just waited for 'their' car to go through the block, safe in the knowledge that the previous owner hadnt thrashed it, and get it at 20% less than the lease company originally offered it at.
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