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House Price Crash Forum


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Everything posted by nicebuyer

  1. Interest on savings has not fallen to 2%. If you're only getting 2% then you're a Muppet.
  2. Well they're offering to lend me £1.44m at 4.98% if I wanted it. Who said banks weren't lending anymore?
  3. No one seems all that interested in the fact that Cameron and Osbourne, only last year, wanted to deregulate the mortgage market and allow it to regulate itself. Does the average HPCer now think mortgage deregulation is a good idea?????
  4. Next time, when claiming that my points are "categorically incorrect" it would be nice of you to say why. As for my response, first you can listen to the clip. It obvious Osbourne finds it difficult to talk when numbers are involved. Forcing banks to lend? Lowering interest rates? It's a wishlist. Come on George, HOW will you actually do these things. Just as interesting, only a year ago your party was talking about the following: http://www.mortgagesolutions-online.com/pu...tml?page=463242 Interesting no? Or are you suggesting that this is a good idea?
  5. I see a lot of people berate Brown and Darling for their plans and their policies vs HPC/HPI. That's always struck me as a bit silly really especially as the Tories are massive proponents of higher lending, HPI, low interest rates and even the deregulation of the mortgage market to allow banks to do as they like. Only last year they were saying that the banks are responsible enough not to need regulation. After all, they say, the banks take the risk, not us. Then today we have Osbourne interviewed on R4. How can anyone here want him in power after what he says? Incredible. As bad as it might sound, I think we have a better chance with Brown and Darling than these two Eton boys who seem to have no idea whatsoever. Just listen to the interview. http://news.bbc.co.uk/today/hi/today/newsi...000/7747450.stm
  6. I'm scraping by. Once you've paid for your house, car, clothes, bills, childrens education, family holiday and your 40% tax there's not much left. A 45% tax is ridiculous. I pay enough as it is. I'm tired of shelling out for deadbeats that should have worked a little harder at school rather than sponging off people like me to pay their way. If they'd have spent more time learning instead of laughing at people like me because we worked hard then they too could get themselves a decent job.
  7. If they do this then I'll stop paying tax. I pay enough as it is. An extra 5% is ridiculous. I currently pay tax because I think it's the right thing to do but I'm not interested in being fleeced. I have no doubt that Darling knows this is a futile exercise and more about good PR than actually raising money. People will be too pissed off to pay it any longer. It's becoming so much easier to avoid tax now, the more the government tries to take the more people will just stop paying.
  8. I was thinking the same thing. What a plonker. Amazing.
  9. Those flats are going to be on the market for some time. that specific area is horrid at night, you can get a nice 1-2 bed flat for £250k in the 'slopes' area right now or for £350k easily a place on the Ridgeway. Obviously the developer priced it before the project started and didn't take into account the HPC. There's a similar issue up on Cottenham Park Road, a few flats, 2 bed, £500k or so. But then flats in Wimbledon have gone through the roof. Last year a friend sold a one bed flat for £550k. Even now there are some places on the market at incredible prices. Take this one, http://www.rightmove.co.uk/viewdetails-20985812.rsp £600k for a two bed flat on Worple Road? The noisiest road in Wimbledon? Someone's having a laugh Or this two bed, halfway up the hill for £650k http://www.rightmove.co.uk/viewdetails-16641805.rsp Granted, Oxford House is nice but £800k+ for a 2 bed flat? http://www.rightmove.co.uk/viewdetails-23209514.rsp The OP talked about prices dropping but they have a long way to go.
  10. One thing to understand, it's not a particularly generous act to those that live on either side and on the same street. With a single 'generous' act he has swiped thousands off similar houses. So although he's helped one person and given them a nice £10k bonus he's made sure 20 others lost £10k each. So when looking at this in a wider context I would suggest he's harmed more than helped. But I suppose the intent was good even if the end product was extremely damaging.
  11. It's a very simple question requiring a very very in-depth answer. Which I won't give Put simply our mortgage rates are based on LIBOR. As such the higher the LIBOR rate the higher the rates banks offer consumers. If LIBOR is at 6.35% then your access to credit is either expensive so you cannot afford to borrow or you simply cannot get it because the bank's liquidity is reduced so they don't lend to you. The higher the rate the worse the problem. If, for example, credit rates were based on BOE IR then none of this would matter, but they are not. However this is a simple explanation and the problem with this is that the media and those that don't understand it jump on the spread figures, jump on LIBOR and shout "IF ONLY LIBOR WAS REDUCED, THE WORLD WOULD BE A BETTER PLACE". It's ******** actually. On the face of it LIBOR is the be all and end all but it's not. Libor could reduce by 4 points tomorrow and we'd still be in trouble. That's not even taking into account that the published rates are ********. You can borrow at a lower level, it happens all the time but LIBOR is handy and as such there's no major motivation to fix it. However as LIBOR comes down we will get a better idea as to how much longer the 'crisis' will last. LIBOR is a good indication in that sense.
  12. Agreed. Personally I switch taps over and take lightbulbs with me. F*ck em. You want to buy from me you can pay the price that's on the box. I'm already subsidising your cheap ass by paying massive taxes so your kid can turn out as dumb as you are. If you'd paid attention at school perhaps you wouldn't have to quibble over a couple of grand cheapskate. Of course I don't think I've ever paid asking price myself. The hypocrisy.
  13. Why would you keep money with HSBC? Rates are awful. I'm a premium member there and they won't even offer me more than 5%. As for being worried, I wouldn't be, if HSBC falls we all fall, there won't be any need for money any more Seriously HSBC is bombproof. Not a care in the world.
  14. http://uk.youtube.com/watch?v=4Xt9zU74x70 Who's joining me in turning £250 into £1million??
  15. At the percentage he's paying now he can borrow £500 from me via Zopla at 20% and save himself some money...
  16. You're off to Spain? SPAIN? Hahahaha. If I knew you and you could take it in jest I'd call you a plonker. Honestly. I think you need to do some research about Spain and what it's like right now, not just the housing market, the collapsing banks, IR levels and 12% unemployment but what it's like for kids and of course the many political issues. Sure a bit more sun but Spain? Of all the places in the world you're choosing Spain? Hahaha Think about it properly fella.
  17. Dude, I really think you need to leave this forum for a while and get some help. You really sound like you need to take a break for a few weeks and perhaps take some time off work. Go on a holiday, enjoy yourself because whatever it is you're doing right now is not good for you if you're buying tinned tuna and stockpiling it. Honestly, you need to go see someone and quickly.
  18. Here's the problem. Let's say that Barclays says "F*** it, I'll leave it then". Unfortunately they have the strongest hand here. The Govt has a pair and the banks have a full house. Ultimately Darling has to offer whatever the banks need. He can't play a game anymore. He knows it, the banks know it. I'm speaking out of turn here but the reason the Govt has been so silent on this subject with no policy leaks is because they're hoping that the banks blink first. It's now at a stage where they've gone eyeball to eyeball and lost. You, me and every other tax payer is about to provide a get out of jail fund that's not particularly in our favour.
  19. The potential for making money by holding off for a few weeks is negligible. Even if you took your entire capital (assuming you have it) you'd be lucky to make more than a few pounds. It sounds more to me like you're trying to act the big time charlie here. "Look at me" etc etc. Judging by your tone, attitude and spelling I very much doubt you are. The fact you're buying at £200k, that's enough confirmation for me. Act with some honour, buy the house and be done with it. Stop acting like a child.
  20. I'm at a loss to understand what you're trying to achieve. You want to delay completion for what reason? 21 days gets you nothing apart from interest on a few quid. I don't get it. Are you drunk?
  21. Why do you now want to complete? You've exchanged contracts, you've handed over a deposit, you're going to lose that. And for what it's worth, don't post here, speak to your solicitor!!!!!!!
  22. I've just asked one of the FSA guys at work and as far as he understands it (and this is the same as the main news outlets) the FSCS is not responsible for the full £50k of the guarantee under the passport scheme. Essentially it doesn't matter if Iceland itslef were to go bankrupt and cannot repay, savers will get their money back. However it's misleading to suggest that it's the FSCS that covers the full amount, it doesn't. To all intents and purposes the result is very much the same, that is, savers get their money back up to the £50k level but the process will be wholly different to that of another unpassported bank that ran into trouble. Indeed as far as I understand it, the funds for the first £16k would be levied immediately rather than borrowed from the Govt on the basis of future bank payments. I guess one might call this semantics semantics but I think it's necessary to be as accurate as we can be when discussing these issues. I'm also more than willing to be proved wrong, I might well be so don't go investing on my advice
  23. I don't think anyone is taking pleasure. I feel for everyone who is due to lose money (although I think most are protected). What I object to is stupidity. Blaming Brown for Landsbanki going down is ridiculous and I think it's fairer to blame those taking advantage of above market IRs than to blame Brown. No one is happy to see people lose money. Incidentally I have made very much the same point on the forums here about people taking pleasure in seeing BTL investors losing money, schadenfreude is schadenfreude, is wrong no matter who is losing money.
  24. The question is, at what tine was the CHAPS ordered? He posted after 6pm. I doubt it would be authorized until this morning, I would be interested to know if the money is in the account yet. I'm 99% sure he's fine, I hope so.
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