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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. 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
  6. 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. 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 fundamenta
  9. 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. 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. 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. 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. 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, l
  14. 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. 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 br
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