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Glass Half Full

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About Glass Half Full

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    HPC Poster
  1. I see your point - but there are two things to think about over the loooooong term. 1) House prices will fall - and some day I bet they rise again (but maybe not for many many years 2) CGT will go up and down. True - it will be 50% now for a few years perhaps - but in the long term it 'might' go back to 18% of even lower. If you accept 1 and 2, and do not need the money straight away, and accept for the long term, then I think you have no reason to sell BECAUSE of the new rate of CGT.
  2. Understand the pain for those with a Mortgage I own a second home (was forced to keep at the time when moving to a new house a couple of years ago) - there is no Mortgage now on the second home. No incentive (regardless of house price) to now think of selling - anyone in my position will do the same (why would they not). GlassHalfFull
  3. http://news.bbc.co.uk/1/hi/uk_politics/8134963.stm Thought this was a nice simple statement of fact. At least 5% on income tax required.
  4. Glass Half Full

    Moving From Letting Agent To Private Rental

    THanks for all replies so far. As far as I can see, from the details I have, if I simply give notice for the tenant to leave then as far as the Agent is concerned that is it - complete. What I do after that time is of no matter to the Agent ?! The fact that, for example, I let the tenant stay in the house for 'free' for one day so there is a break in rental period should also be of no concern to the Agent. I can then let the Tenant stay on new, far better terms..... at least that is what I thought?!?!
  5. Yo.. I rent out a house at the moment through a letting agent. When we set up the agreement a year ago I had to decide between paying commission (to the agent for finding a tenant) or a monthly fee (for rent collection fees, management etc etc). My tenant's agreement is up in two months. At the very least I would like to cut their rent my cutting out the Middle Man (i.e. the Agent). Since I have had the tenant for a year, and given that the Agent has had a years monthly fees off me, is it likely that I can now just agree a private arrangement with the tenant? What I want to know is can the Agent charge me a 'finders fee / commission' for the second year even though I want to cut the Agent out of all this? If then can..... then I think a way out is to simply let the rent agreement finish and then start a new agreement with the tenant direct - how can the Agent then do anthing about it? Thanks for any comments Mark
  6. Glass Half Full

    The Apprentice Bbc1 9pm

    Watched it last night - will not watch the rest of the series - just too annoying... The first series was OK but this is just TV for the sake of TV - no depth. Its a circus. If you are capable of earning 100K who would really put themselves through this?
  7. Glass Half Full

    How Much Would You Spend On A Car?

    45K Audi (bits bits) - brought from New - paid cash (no loan). About 1/3 salary I guess.
  8. If there is any element of truth / realism in this (and I am not suggesting there is not) .... then why oh why is this not more mainstream even now ... in the media etc? You sound like a clever chap with a grasp of economics that I could only wish for. If that is true then there must be ‘some’ equally clever people within the Government (yes there must be ! perhaps not at ministerial level) and certainly within the mainstream financial services sector etc. Now perhaps the easy answer to this is that ‘they do not want us to know’ – but I cannot buy that, what you suggest is such a fundamental change to the world that it would be mainstream by now? It’s perhaps like the following ... imagine that a huge meteorite s heading for the world – perhaps 3 years away. The ‘Government Scientists’ around the world have predicted Armageddon – they see no way out of this – they cannot send a rocket ship up to blow it up ... basically vast areas of the planet will be dead for hundreds of years. Perhaps in these circumstances they would try to cover this up – on the basis that panic leading up to the event would be as bad as the event itself. And what would be the point ...? But then there are those amateur star watchers who start a website and use their home telescopes and downloaded computer programs - suddenly one by one a few realise that something terrible is likely to happen – they are not 100% certain – but it looks bad. They start a website to discuss. Quite like HPC indeed..... This would get out into the mainstream media - would it not? So what is the difference? Well – I think you can make a Hollywood Disaster movie with the second example. But I think the ‘man and women in the street’ are just not interested with money etc So why do you think your ideas are not more mainstream now ?? Of you were to write to David Cameron about this, and actually get an answer, what do you think it would be?
  9. Glass Half Full

    Three Times Your Income

    Not sure if I missed this earlier... What happens when you need to remortgage? Suppose you have a two year fixed about to end in January 2010 (for example). Not only are you going to be stuffed with the LTV (because house prices would have dropped further), but I gather that the lender may not even want to offer you another mortgage if your need 4 or 5 times? At best you would be left on SVR Double stuffed !!
  10. Glass Half Full

    Three Times Your Income

    That is a good point. I think what I am getting at is that there has to be some degrees of freedom around any set of lending criteria.
  11. Glass Half Full

    Three Times Your Income

    OK .... So I can borrow (single salary, one income in household) - £480,000. As a proportion of my outgoings, I see no reason why not to be able to borrow 4-5 times? 3k - 3.5k a month is a lot for some (hell it is a lot for anyone). But it is still perhaps 1/4 - 1/3 of disposible income which makes the 3 * income to be too restrictive for higher than average income
  12. Glass Half Full

    Interest Only Mortgages

    I should point out its not easy to do that and means going without new cars and generally watching very carefully what we spend elsewhere. What I have said in another thread is simply that paying down debt is now No 1 priority. I'm sure that 50K each year is not going to be the norm, indeed 2009 is not going to be the best year ever. But I know that some would spend 50K on a nice sports car and feel 'richer' for it ....... ho ho ho .......
  13. Glass Half Full

    Equity Goes Back Into Property

    OK .. I am not living on the breadline. Have family, nice home (plus second home rented out). Have two nice cars (one with a 20K loan). Have the general set of nice things in the house, TV, hifi etc etc. Have two mortages, once big and one not so big. Run my own company which will see a reduction in income this year (but not as bad as many). Have one or two credit cards with not a lot on them. Have pretty good cash flow - made even better my massive cut in interest rates (second house mortgage on SVR). Had a long chat with wife last night : 1) Continue to make current home comfortable, look after the kids and generally enjoy life. 2) Keep both cars for next few years (both currently 2 years old) 3) Get rid of credit cards 4) Pay off major chunks of mortgages over next few years..... Overall - watch the cash flow carefully and reduce spending...... The reverse of what GB wants...... does he really think I am going to spend my money (which I have) on a new car, TV, massive holiday, white goods etc etc etc ............
  14. Glass Half Full

    Interest Only Mortgages

    It does work for some.... Have a IO mortgage of 480,000. Notwithstanding the asset (the house) reducing in value (that is just something I have to deal with), I planned to pay this off using bulk payments as and when. So, for this financial year have paid 47950 - (just under the 10%) and can do that as often as I like. That is in addition of course to the monthly interest payments. SO overall for me, better than an repayment over 25 years as I will pay less interest overall - moreso if the debt is cleared in 10 years say.
  15. Glass Half Full

    Transfer To Svr

    Just wondered if anyone was in a similar position? I am not complaining about what I am paying - have a 480,000 mortgage paying about 2200 / month IO. I pay lump sums off as and when (rather than a standard repayment). The mortgage is currently fixed at about 5.5% for two years (with about 19 months to run) For 19,000 I can transfer back to SVR. The current monthly payments are fine and I would not normally even think of parting with 19000. However, with interest rates heading Southward it really does make me wonder if shelling out 19000 is worth a risk. WOuld take about 8.5 months to break even (if rates approached zero). My mortgage company have more or less indicated they will pass ALL rate cuts on which is why it all looks more attractive. Its a risk of course - if interest rates can go down this far in only three months then I guess they could go up again as much too sometime next year. I guess this is a classic bet - do I take the risk or not?!!?! ************ What has made my think is that I have a second 220000 mortage on SVR. This has gone from 1800 to about 900 in 3 months. Its just crazy ! Chow!
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