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Posts posted by SarahBell

  1. The third lot?
    Some people will think Gary and I are pretty well off because, in addition to our £135,000 three-bedroom family home — we use the loft as an extra bedroom — we have a terraced house worth £110,000 that we rent out, and we have recently bought a dilapidated property in the Dordogne for £47,000.

    And they've got an allotment. Well buying a holiday home in France is great but it means (when it's renovated) you spend all your holidays there and ignore the allotment.

  2. The next lot:

    Monthly take home: £3,100

    Monthly outgoings: £2,942

    Amount left over: £158

    Outgoings: Childcare £50; Car £120; Petrol £200; Food £320; Mortgage £860; Council tax £230; Mobile phones £110; Broadband, home phone, TV £70; Gas and electricity £120; Home insurance £30; Life insurance £12; Clothes: £50; Hairdresser’s costs for Richard and Preston £20; Going out/takeaways £150; Credit card: £600 minimum (still paying off)

    They could cut less hair, just watch freeview, stop going out for a while, 

    The CC is killing them. That's what they need to concentrate on getting rid of.

    I'd love to know how much they spend on Christmas. Cos it should be about £30 on presents for everyone and that's it.

  3. 40 minutes ago, interestrateripoff said:

    They're not jams.. they're actually really stupid eekits


    Childcare: It cost us £1,600 a month, almost £20,000 a year, which was crippling. We were forced to take out hefty loans from family members to see us through. We’re paying them back as and when we can.


  4. 1 hour ago, spyguy said:

    Prudenttial Regulation Authority.

    Basically, making sure someone does not end up with  more debt than their income can support.

    For OO, you are limited to about 4 time your post tax income, after all your expenditure has been took out.

    Or mortgage payments (repaymen, no IO!) of about 30% of your post tax income.

    For BTL they will insists on repayment mortgages and that the LL can cover the BTL mortage payments too.

    Its trying to get a move on before Basle3 comes in, which is going to bankrupt Nationwide.


    It sounds so sensible, how can it not always been the case?

  5. 11 minutes ago, Neverwhere said:

    I wonder if she realises that finance costs are not and never have been tax deductible for any funds, over and above the original amount invested, MEW'd for personal use? I suspect HMRC are going to catch a lot more of this stuff once Section 24 starts being phased in and they're playing closer attention to landlords' financing arrangements.

    You'd have to hope HMRC are going to set aside some time to double check all of these things :)

  6. 2 minutes ago, thecrashingisles said:

    Sovereignty is in the hands of parliament.  When has anything to do with the EU been done contrary to the laws passed by the British parliament?

    You talk about 'our' sovereignty but what you mean is the tyranny of the majority to take a wrecking ball to our institutions, our citizens' rights, our historical place in the world, our very identity as a European people.

    Sorry that's actually quite funny. 

  7. 7 minutes ago, spyguy said:

    Basically, I go over to Calais, buy some kids swimming rings, sell them to Muslim for £100/each and give them the address of my rentals in Rotherham,

    Check all new tenants. It’s against the law to only check people you think aren’t British citizens.


  8. 2 minutes ago, PaulParanoia said:

    From the BBC ...

    I am also told that a new effort to kick-start the housing market will be a significant part of the Autumn Statement.

    It will focus on encouraging local authorities to partner with smaller house builders to build social housing.

    One idea under consideration is a government indemnity fund, with the government agreeing to underwrite (insure) billions of pounds of risk capital needed to support new house building.


    This has been discussed a while ago and a budget agreed for it. 

  9. 1 hour ago, Pieman Pieface said:

    To be fair I'm guessing these celebs were all given bad advice and chose to go along with whatever their money managers suggested. Most are too stupid to think about it themselves. 

    Last week an accountant tried to tell me about some rent a room scheme where you dedicate a room in your house to your business and claim £4k a year off the company for it. I said I only use part of a room, and he said 'they never come and check' .. to which I said I would sleep better at night knowing that I wasn't lying to the tax man. He did seem taken aback by that though. 

    Perhaps these people also had accountants tell them they never check.

  10. 54 minutes ago, durhamborn said:

    Interesting to see if the government hold firm on the cuts to UC or if they cave in.The benefit cap is in now so for anyone not working at least 16 hours or getting DLA/PIP the maximum amounts of housing benefit/Local Housing Allowance are below.(outside London)

    The lone parent with 3 children will get £91.96 in HB (£62.91 if on ESA)
    The couple with 3 children will get £50.21 in HB (£21.16 if on ESA)
    The lone parent with 4 children will get £24.95 pw in HB (£0.50 if on ESA)
    The couple with 4 children will get £0.50 per week in HB as will larger households

    If they hold the cap without any inflation increases going forward it seems to be quite a big cut in HB for families who like to have lots of children.

    So how does that work if the tenant gets 2 months in rent arrears and the LL asks to have the HB paid direct? How much will they get? Or can LL not ask anymore? 

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