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GAL BEAR

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About GAL BEAR

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    ROMFORD
  • About Me
    READING THIS WEBSITE !!!<br /><br />WINDING UP EA's
  1. Hi Have not been on here for over a year. Had some HUGE personal problems which still are not resolved but am getting there, Well we had our 'crash' didn't we? Not as big as I would have liked though. Still never know may be more to come. What I need to know is .......... and some of you estate agents/FA'S may have the answer to this one. If buying a property does the Estate Agent/Bank etc need to see proof of my DEPOSIT in MY bank account. I am buying a home which my father have very kindly agreed to help me buy. Its over the road from him so he has his reasons. Wants me in easy reach. Double-edged sword but its the only way I am EVER going to afford anything. But even with his financial assistance I did not have enough money to buy it. My sister has grudgingly agreed to give me some money. I DID half own the house she is in now. I still live in that house with her. Stupidly I signed my half over to her (we brought it in 1992 for £50,000) when I wanted to get married in 2002 She could not afford to buy me out so I signed it over on the understanding that IF she ever came into any money she would pay me back my equity back. When I had it valued in 1999 I had about 20 grand equity in it I reckon it must have been worth about £135,000 by then as one sold down the Road for that. So by then my equity would have been between 30 - 40 grand. She promised me that if she ever got any money she would pay me that back. And of course I stupidly (again) trusted her! Well, as you know after that house prices went up astronomically in the next few years. My fiance and I soon found ourselves priced out of the market. My Mum died in 2007. The money I got from the sale of her house I used to pay off debts. My debts were not too bad but my fiances were astronomical and it cleared me out. I knew I had to pay them off though or we would have no chance of getting a house. Yes, I know I am incredibly stupid!!! I asked my sister for my 30 grand equity as I needed that for us to be able to afford to buy somewhere ................... and yes, you guessed it she refused to give it to me. She said "I meant I would give it back if I won the lottery" After that my relationship went downhill fast with my finance and we split last year. There was way to much pressure on us and in the end it became too much. My dad has now stepped in and said he will take equity out of his home to help me buy this house. But this is the problem....................... my sister has not spoken to him for over 25 years. She hates him !!! And if she knows he is involved in any house sale for me she will not give me her money. She does not have a clue that my dad is involved but just to be bloody awkward she has said to me "I will only give you that 30 grand on completion of a property and NOT before!" Without her money the sums don't add up. I have now told her that I HAVE to have that money in MY bank account as proof of a deposit. (I actually have my dad's money as the deposit but obviously I can't tell her that). I was told by a Financial Adviser that what I have told her is strictly true. IF I was depending on her money as the deposit it would have to be in MY bank account as proof. Anyway when I told her this, she said "Well I'm NOT giving it to you then, you could go and spend it on something else " So my broker wrote to her and said that what I had said was correct. he also said to her if she wanted to she could deposit the money in my solicitors bank with the express wish that it would only be used as a deposit on a property. She is caught between a rock and a hard place really. She desperately wants me out of the house we share but she HATES the thought of giving me the money. Even though morally she owes it to me. Anyway she is going to see a solicitor on Tuesday. Will he back up my story? Or is there any way she can wangle out of it. What do you guys think. And yes, I have been incredibly stupid with money I DO know that. One good bit of news my solicitor reckons I can get the money back from my ex-fiance. (so far he has refused to give it back). Even though I handed it to him on a plate.. but will take a while and I don't have the time. Any advice will be gratefully received. My house is all going through (survey done etc). By the way as a matter of interest. The house was originally on for £240,000 in March. It has now dropped to £225,000 !!!!! And this house is to die for !!! It has been completely refurbed all the way through. So normally it should have sold as it is WAY the best house in its location for miles. And when we went to see it the vendor was desperate. We told him we were willing to pay the asking price, which by then had dropped to "231,000 and he was literally dropping the price without us even asking him to !!! He said "If you put down a 5 grand holding fee (which we still have not done) I will drop it to "228,000 which he did, then he started throwing in free white goods, curtain poles etc. We were AMAZED !!! Did not even ask him to reduce the price. So me thinks the housing crash is still on the cards. Anyway back to my question .......................... does my sisters money HAVE to be in my bank account as proof (or the solicitors) or has my broker told me an untruth !! Thanks everyone nice to be back.
  2. Hi I have a dilemma Problem is I am running out of time to buy. I am 48 now (but look 38 apparently, according to the all the younger men I seem to attract ) Am a single woman. Earn about 21,000 a year. I have an £8,000 deposit but am still saving. 1st thing : What amount of mortgage (if any) can I get for my salary/deposit etc? (I live in Romford Essex, where to give you an idea a one bed ex-council flat/house is around the £95,000 £100,000 mark). 2nd thing: How many years can I spread the mortage over? I work for the Civil Service (Please don't all have a go at me for that!) and we can retire at 65 (but we have a lady working here who is over 70 would you believe) My father has 'willed' his house to me which at present is about £200,000 so eventually I would be able to pay off any debt I incurr now. but would any building society take that into account. 3rd Thing: I am worried that I wil have no time left to pay off a mortgage if I am not careful. Also they keep saying in the press that House Prices are slowly rising again. Which I find very hard to believe. Or should I just rent till I inherit my dads' house. Don't like that idea very much though. I have been on lots of mortgage comparison sites and can't really work out what I can get. Any advice/guidance.
  3. Said in the EVENING STANDARD tonight that GARRINGTON HOMEFINDERS has gone into RECEIVERSHIP ! It was only a small bit in the STANDARD have any of you heard this ?
  4. I have to say there IS a lot of truth in this. I work in a Jobcentre and I can honestly say we have seen not a single casualty from the beauty industry. We have been inundated with ESTATE AGENTS, BUILDERS, various types of OFFICE WORKERS,SHOP WORKERS, I could go on an on but NOT ONE single hairdresser or beauty therapist in any shape or form! It does make me wonder. Maybe it is the LAST thing women will give up. Maybe they will cut down on their visits to the HAIRDRESSER or BEAUTICIAN but not give this 'luxury' up altogether. So the beauty industry may have to 'adapt' their prices somewhat but at present things look OK on that front. I have been VERY surprised by this, as anyone can buy a bottle of fake tan and apply it themselves. Also plucking your own eyebrows is not IMPOSSIBLE though as any woman will know IS bloody painful, so best to get the experts to do it. This may change over the coming months, will be interested to see. Also, not that many BEAUTICIANS in my area so the couple that are there are pretty much packed out all the time. I think your daughter may just be OK. Also she could do private work, lots of call for that I would think.
  5. I checked my credit rating (which was 999% I was glad to see!) on EXPERIEN (as per the link on the previous post) I payed £5 or thereabouts for a 30 day trial, which was enough to see as much as I needed. You can then pay £5 a month, but I personally would not do that as you can just re-join at any time. It was quite good because they e.mail you any changes to your CREDIT RATING, ie. if you shut an account down, or if say something 'dodgy' was happening to your account. Whats good is they e.mail to tell you there has been a 'change' then you pay the £5 (if its after your initial 30 days has run out) to see what the 'change' is. Its usually nothing to worry about, something you have done yourself but forgotten about, but worth seeing. As far as I am aware joining EXPERIEN does NOT give you a bad credit score, because you are NOT APPLYING for credit, you are just looking at your credit details., its NOT a credit search as if you are applying for a credit card. Its very easy to read and I am glad I did it. I WOULD recommend it. Shows you ALL the people you are 'linked' with who live at your address etc, which can help if you thinmk they may be affecting your credit score. It gives you your score from EXCELLENT, VERY GOOD, GOOD, FAIR, POOR (or something like that). And then it advises you how to improve. It shows you every time you have EVER missed a credit card payment. I have lost a point because I HAD missed a payment, by a couple of days on a Credit Card, but my score was still EXCELLENT. I would go for it, you will find it beneficial. (All the text is in different colours so its very easy to read and understand)
  6. I don't feel guilty but I do feel a bit like a broken record. Even though everything I have been saying for the past 5 years has come to fruition (and THEN some!) people still look at me in a kind of 'pitying' way and a bit smugly. Lots of them think it highly amusing that I am in my forties and due to various circumstances conspiring against me do not own my own home. I allways feel like saying to them "There for the grace of God go you!" Most of them don't realise how lucky they are, and it really is JUST luck. Like it will be 'luck' for all you guys reading this who are in your 20's or 30's now............................ In the next couple of years YOU will be lucky enough to have taken advantage of the next wave of LOW house prices. The generation coming up behind you MAY NOT be so lucky if the lending criteria etc gets relaxed and things start BUBBLING up again. What we must all try and remember is NOT to be smug towards that next generation because they will be where we were a few months ago Maybe one of them will start a website called HOUSEPRICECRASH.CO.UK!
  7. I havn't had a chance to 'quiz' MR GAL BEAR over this yet as he had to rush into a meeting. Will find out a bit more lately and if relevent will update this thread. I think the person must have got the wrong end of the stick as surely BARRETTS wouldn't admit defeat now and reduce ny that much so early in the game. Still this time next year they probably WILL have reduced theirs rabbit hutches by this much if not more!
  8. MR GAL BEAR rang me just now and said he had heard from a friend at work who is househunting (silly fool!) that BARRETTS are offering 40% reductions off their homes. I have not seen anything in the press or on here about this. Can't be true surely to God ! Though I reckon they should be or they are not going to be sellng ANTHING over the next few months ! Has anyone heard this at all?
  9. JEREMY will be talking to Americans about the GLOBAL Economic Problems. He wants anyone interested in the UK to phone/email etc. Fill your boots ! Program on 12 - 2pm.
  10. Have you got PROPERTY BEE loaded on your computer? Load it on then go into RIGHTMOVE and it will show any actual drops in prices its BRILLIANT. Just google it then upload it (its free!). May surprise you! It did me. I thought prices hadn't dropped much, but according to PROPERTY BEE they had. The average in my area (ROMFORD) is between 10 and 30 grand in some cases.
  11. Can't remember. Was one fo the big ones though. (I don't think it was Northern Rock). I will check my paperwork when I get home but am sure I binned it.
  12. A bit over a year ago I wrote a letter to one of the 'big' mortgage companies. You guys had mentioned on here that we should write to this 'lender' and complain about the fact that they were 'offering' 8 x salary/ 0% deposit/ interest only/ 125 % Mortgages .......... (the usual kind of thing that was going in then. Anyway I did write to them explaining that a big 'crash' was coming and how could they be so negligent etc. etc. Anyway I got a letter back where they 'nicely' told me I was an idiot!............................ "The market is stable" "We are confident in our 'lending criteria" "We spend a lot of time analyzing the market and we would not lend to anyone who we thought could run into troulble " etc etc. God ! I wish I had kept that letter (think I binned it in disgust). Would like to write to the person who wrote it and really give them a piece of my mind! :angry: (if they are still in a job of course !)
  13. A few months back I was constantly argueing with friends/relatives/co-workers that the ecnomoy was sunk and house prices would crash. Everyone disagreed with me and thought I was a fool. Now I hear the same people saying how bad things are !!! At last ! So nice to be proved right.
  14. OoPS they have a technical hitch on Radio 2 at the moment ! It will be on soon hopefully
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