Jump to content
House Price Crash Forum

Mayalabeille

Members
  • Content Count

    125
  • Joined

  • Last visited

About Mayalabeille

  • Rank
    HPC Poster
  1. But parent at home means only 1 salary which in a lot of case means closer to £25000 than to £40000. I agree this is a choice but even in stopping all "luxuries" most families would have to avoid childcare costs to fit all the essential in 1 salary and very few will therefore reach £40000 household income.
  2. Mortgage £850 Council Tax £150 Gas/Electric £90 Phone/Broadband £30 Cars(2) Keeping on road (servicing+tax) £80 Insurances £200 Water £40 Fuel £160 Food+consumables £700 Minimal cash savings (to replace big ticket items) £200 well I am guessing that this illustration is for when 1 parent is earning the £40000 and the other one can look after the children. If not (and the majority of people don't earn close to that amount) you can add Childcare... depending on how many hours and where between £500 and £1000 a month I guess - sorry don't know exactly the cost of childcare and there is a reason for that.... we just cannot afford to have kids! (a choice too but the cost of having them is definitely comforting our choice)
  3. I am French and I live in the UK, I came here a few years ago after University to start working in a different culture. I love England (or more especially the English) and I am so glad I have made that choice. I have now been here for 7 years, I bought a house in 2011 - yes I knew the site before then but went for it anyway and I am getting married soon. As much as I love England I have recently seriously discussed with my future husband about moving back to France and this plan of moving might have been a 10 years plan a couple of years ago, is now more looking like a 2 years plan. Things have changed in England and apparently they have changed also a lot in France over the last few years (from what I hear from family, friends and colleagues) however I know moving back would offer us a better quality of life. However I will be sad in some respect to leave England. I know we all complain a lot about what we have and that the grass is always greener somewhere else but England as some great aspect that I will be sad to leave behind. Regarding property taxes: taking only property taxes into account on a daily basis, despite that there is 2 taxes to pay as a property owner in France (Taxe habitation and Taxe Fonciere), both combined is most of the time lower than your average council tax in England. So no, that another point going for France in my opinion.
  4. What a ridiculous article... 10 year old save part of the £5 week, yes perhaps but that's because their want to buy the lastest PS3 game not because they are putting money towards the future cost of University or buying a house. Did the journalist who wrote that thinks people are going to buy this story?
  5. I doubt that the banks will scrap the fixed contract that they have with people or they will have some legal problems. Yes of course people won't be able to remortgage but as explained a lot of people don't care, they managed to get a long low rate fixed IO mortgage and will dispose of the property (ie sell it) when the fixed rate expires. I know that you are mainly talking about the younger generation that bought IO over the last 5 or 6 years and on top of having no vehicle to repay the mortgage might end up in negative equity however there is also a very different population on interest only mortgage that frankly don't care about repaying the mortgage in the end and are just enjoying the ride while it last. However these people are included in all the statistics regarding IO people who don't have a way to pay back, it does not mean that they are in trouble, it just means that they have no intention to repay, will sell the property and move on to something else. The low interest rates since 2008 enable people to make this decision (as long as they are not going into negative equity of course) sorry about grammar and spelling mistakes, I am trying to do 3 things at once
  6. The thing is not everybody care if they have a repayment facility in place. Example of an in-law family member: He has now reached retirement age. Still working a few hours a week however so it pays for his interest only mortgage and keep busy. Bought maisonette in 2004 in a bad state for £75000 and worked on it over the last few years (nothing really major actually). Now worth about £100-110 (following the sold price data in the area). Interest only mortgage mortgage fixed for another 7 years, monthly payment £250/month Has some money in the bank but not enough to repay the mortgage, will just start getting his pension in a couple of month but still able to pay mortgage payment and bill in working less than 15 hours a week. The plan for him is to enjoy 7 years in his maisonette with very low payment, could not find half what he has in the area for £250/month so enjoy his property as a low rent option. If he manages to get the money together before the fixed term expire he might pay off the mortgage if not, he is not worried he will sell the apartment, pay back the mortgage and with the money in the bank as well as the possible equity he got from the house sell start renting on a long term basis another property which is smaller and more adapted to his new needs. Younger people who bought IO in 2007/2008 might have problem however a lot of people are in his position and really do not care if they can repay the mortgage and are enjoying extremely low "rent" thanks to low interest rate.
  7. £250 each for the car + 2 travel cards? I thought these people where living in London. If that’s the case the 2 travel cards are enough to get around - saving £500/month £100 for telly + landline + broadband - wether you live in London or elsewhere the deal are the same. Talk Talk about £30 month all in - if they really want Sky HD well them £45 / month – saved them another £55 minimum £100 for mobile: don’t need to upgrade your mobile every time they offer you to and to lock again into another contract. Currently negotiated a rolling contract: 500min + 500mg download + unlimited text for £10 – both use this – saving £80 I just saved them £635/month – perhaps them could over paid their massive credit card to get it down to a manageable monthly payment? £100000 salary in London not enough??? Just a laughable statement according to me – Just look at your finance and ajust. Also if I had a min payment of £700 on my credit card, I am not sure that I would allow me £200/month to go out until I have reduce my credit card. Priority!
  8. I don't see any problem for holiday property owners flying from Cardiff to Spain. Bmibaby only out of Cardiff for these flight because the routes to Spain are now operated by a cheaper low cost: Vueling. Flight are even cheaper than with Bmi
  9. As it did for you the first quote really surprised me. So it goes me thinking: A study in the US reported that the people move/sell every 5 to 7 years so really among the ones that sold in 2012, a really large majority of people had bought their house post 2005. Therefore 22% selling with a loss in 2012 is not that much as most of them must have bought between 2005 and 2008, therefore no surprise there and thinking like this one would have thought that more of these people would have sold at a loss. However I am basing this one the US average, I don't know if it is the same in the UK.
  10. Not disagreeing with you there, I was just making a point regarding the "you cannot find anything apart for a 2 bedroom council flat" for under £150k Sorry I guess I was off topic then
  11. Agreed however my point is that there are lots of 3 or 4 bedroom houses for less than £150000, might not be a pretty stone cottage, might not have the acre of garden they would wish, but there are some. Regarding saving a deposit yet it is hard and yes if the price of houses where lower that would be easier and better for the country. However they are not at the moment and therefore if people want to buy a house they have to make decision in term of what they can afford and work hard to save a deposit. This is all good and well to wish for lower prices however despite everything that happened, the price have not crashed near as much as what people on here where expecting (I know... we have not seen the end of it). My point only is that for £150K you can buy a nice house in this country as a first time buyer, it all depends on your expectations.
  12. Not going to find much for under £150k???? This is a first time buy, you get a lot for £150K (leaving London out of the equation). This is the problem with a lot of FTB: talking to my friends they cannot save for the 10% deposit that they need to buy their first home and when asked how much , they say have problem to save £25K-£30K. Well why as a first time buyer would you expect to buy your first house for £250000 - £300000 This is all about compromise. I leave in a very expensive part of the country (close to Bath) and yes if you look in Bath that is what you are expected to pay for a house, but as a first buy why do people think that they should have it all immediately. Move 20 min out of Bath and you can get a 4 bedroom village house for £150K. I know that houses are overpriced and that the bank bear a huge responsibility in the problem however it is time for some people to realise that they are not due the best, biggest, most expensive, most spacious, perfect in all aspect... house on their first buy. 1000s of 3 bedroom + house in Notts for under £150k for sale. Don't get me wrong I don't approve of the council decision and I am just reacting to the "Not going to find much for under £150k" which I think is also part of the problem in the UK: people want it all now!
  13. I hear what you are saying and of course I am all against misleading people. However people needs to check for themselves don't they? Are people so assisted that they rely on everybody to make choices for them? From what I remember you have several accounts with different level of cover and you can chose the one that match best you needs.
  14. I don't see why these would be at the basis of a new scandal? Don't people read or ask before signing paper. I have a joint account with these benefits, I pay one fee and my partner and I have AA, mobile phone insurance, keys insurance and world travel cover. Last year I had to claim on my mobile insurance as it got stolen, it was easy and quick, got a new phone in 2 days. Last week I broke down (car battery issue) called them, got picked up by AA representative and car was sorted. Would have cost me far more to have separate covers for these things and therefore I am happy with the price I pay them each month.
  15. So here is what's going to happen since the government take half thought decision: hmmmmm... should she work full time with her 50K€ and lose the benefit or... should she just work part time organizing finishing Friday lunch time every week for a proportional salary of 44999€ and keep her benefit. Effectively she is only 1586€ net worse off if she cut her hours and enjoy every Friday afternoons off. Other solution 2 more weeks holiday and just take it out of my salary Mr Boss. As long as this government take decisions without thinking them through but just to make a bit of noise so people keep talking about the actions they are taking, this country won't go anywhere. but heho, who am I to have a point of view on the decisions made in this country.... been paying tax in here for 7 years and still does not have the right to officially (vote) express myself - unless I pay for it of course.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.