Redcellar

excellent stuff. Very funny. I hate the age old excise of censorship being described as "its a terrorist thing". What a joke. Sure terrorists carry large cameras and don't know about pin hole cameras or even a pad and pencil Good for these guys. Fair points made.

I am relieved this is the case. My satnav often leads me down the wrong road and once even tried to send me 400 miles for what should have been a 40 minute trip. I can now sleep safe in the knowledge that nukes don't have to "make a U-turn at the next opportunity".

One of the rags comments is people will nominate their holiday home as their main home to avoid the tax? Err, but then they sell their presumably more expensive previous main home at a later date? That will be taxed and more so! Don't get it. Tax avoidance is a crime and if they then lie, hope they get caught. Let's see.

LOL, you had me thinking you were serious for a minute. Then I saw the separate garage (not even joined onto the house) that I couldn't fit my 4x4 in, the boring gardens, medium sized house and the portaloo that is called a bathroom. It's actually just a spoof. I think they accidentally added on an extra zero to the price.

Two points to note. Houses are not business assets, HMRC published this several years ago. That is a closed case. There is an official publication out there if you Google it. Secondly, business assets are not sold to the public, they are owned by the business, shares in MyDuff Ltd are private and not on sale to the public. A listed company sells shares that are sold to the public, anyone can buy and you do not need the Directors to sign off on their sale to an individual. Seems that you can easily differentiate the two. Maybe I am missing your point though?

I don't get it. If someone seriously made that comment then they are demonstrating their gross ignorance. Business assets are treated entirely separately. A few years ago it was deemed (by HMRC) that houses were not business assets. It is CGT that they intend to change not the taxation of business assets. The Entrepeneurs reliefis continuing (10% for approx first million of business assets sold) and it is this which encourages entrepeneurs. The goverment have even stressed they want to encourage these people. A person owning a flock of houses is not an entrepeneur and the houses are not business assets. Quite right they are taxed appropriately and that should be in line with all other gains, such as savings. Simple and fair. By the way, I have shares and I will 'lose' out. But actually I am not losing, I am just paying my fair share rather than demanding others pay it for me.

Unexpected or unlikely events. And no, not if they are pyromaniacs, gas sniffers or in to electrocution fetishishes.

I don't get the problem. So a highly destructive weed has infested the property and could undermine the foundations. Give the poor bloke his loan. It's not like it's going to collapse the economy. (just his house) While we are at it, given loans to people who live on flood planes, cliff tops and on top of subsiding mine shafts. What is wrong with this country.

I like the picture best. A very odd looking polar bear with shield bearing riot police behind You've got to watch out for those damned polar bears, dangerous beasts, especially near an airport.

The crazy part is they are bleating that a variable rate mortgage may leave them in trouble. So simply put, they had their head in the clouds and thought that interest rates/deals would always stay low, otherwise they would lose the house. Fools and soon they may suffer from their stupidity. People need to learn to budget and work out the worst case scenario for such a large purchase. Actually, I have changed my mind, people don't need to. They can just stick all their little heads in the sand. Then when it all goes tits up, please don't bore us all with your stories of woe. I for one will be wandering around the party asking about their 'investments'.

How did he get the money? The clue is in the post, 'self cert' which he says he would now fail given "the rigorous lending criteria". That could be read as a 'liar loan', either that or at the time he magically was affluent and passed the criteria to get 4 houses. Could be that. I know which my money is on

Its safe as a hub beacause of flight plans. Detroit is perfectly position for Transatlantic flights and the far east etc. Its right on the flight path. As for $10 houses someone else mentioned. When I was living there I saw these for sale. Forget the fact they are in very rough neighbourhoods (makes Salford and Hackney look like Mayfair) they aren't $10. You have to pay off the tax debt and that mounts to many many thousands (typically tens). Was strange to see them look that cheap though. Sad as Detroit used to be a beautiful place and so many people there are just incredibly friendly.

LOL I thought someone might react before finishing. Not you today though eh. Seriously though, some folk will think none of this is (a) true or going to make a difference (2) we aren't the USA so it doesn't matter to us (iii) the whole world can't be that badly affected so it's just not going to be that bad, after all the recent crash was a recession and not a depression as doom sayers had predicted. Personally, I am not going to go out and buy candles and canned foods in panic. Instead I will take my cash and buy an electricity provider and canned food factory when the sh*t hits the fan. Cheap as chips.

But this is just applicable to the USA. We are completely different. We live on an island with our own way of working and banking systems. So none of this really means anything over here. Our house prices will continue to rise as we have limited space and more people needing to live here. Just wanted to beat someone to the worn out excuses of why it is different here.

Wouldn't be true. There is a £50K insurance scheme in place that protects savers up to that value. Again though, we pay in the long run. In fact all the scenarios you pose, we the punters pay. It's just a matter of when and how much. By the way, negative equity isn't the end of the world. If people bought a house to live in it and don't have to sell up then being in negative equity is immaterial. Though the thread is about 5Mil potentially in problems, so in that case I grant you, we may well be hosed.

The due dilligence you refer to might have to include an IQ test or perhaps a pysch questionnaire that asks "do you plan on spending money like a blithering idiot, by buying new cars, multiple holidays, premium TV", and "do you plan on losing your job".

So the bank pays? And where does that money come from ... increased interest rates for borrowing of course. It's daft to think there is a free lunch. We the punters end up paying the bills of the feckless. I agree they should be bankrupt, recover as much of the debt as possible and also maybe they will learn something about financial responsibility. Enough excuses please.

My last post tonight is that Clegg said the least and gets 57%. Says it all really.

Thought the same pal. Just name everyone and that must mean I care. Too artifical. Speak from the heart guys.

Ulnikely. They'll all be f**king dead from neglect whoever gets in.

True, and Cameron has such a smoooooooth face its unbelievable. Clegg looks normal. Middle of the road I guess.

My Physics teacher was an alcoholic, and used to be in the Dambusters .... many years after the raids. Still he loved to tell a good story and was rather amusing. I am not sure any training could do that. Worth £30K in my book.

Don't anyone dare say Bolton. :angry:

I'm living in Bolton and find all this quite amusing. But I get the last laugh when I consider my vote may swing the whole government. Or it may get me some pie and chips. Either will do.

That's unfair. Everyone knows they were supposed to cc' Gordon on their emails. Just cos they renagued on their communications it's not Gordons problem.