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House Price Crash Forum

Neil B

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Everything posted by Neil B

  1. I know plenty of Spanish & Italians living off benefits illegaly in the UK. They all have savings and a house 'back home' but its impossible for anyone in the UK to check this out. The benefits office workers rarely speak more than one language and have no idea how to trace things like home ownership or savings in a foregin country.
  2. If she lost 5 stone through stress how big was she whilst using the personal trainer??? Jees what was he training her to do eat croissants?
  3. +1... and they fail to mention (choose to hide?) the fact that you have to pay a mortgage AND rent - it comes out at around the same monthly payments as a mortgage for the full price of the property. Except you have nothing to show for it as you have given a sizeable chunk of the capital investment to the housing association. Huge con.
  4. They'll get help in the short term for sure, but who is going to hand them 250k to pay the capital at the end of the term?
  5. Thats not the point at all - if house prices only inflate by half as much then the 250k house will be valued at 375k, so the person buying it would need to be earning £100k a year...... I think not. Salaries are lower than they were 10 years ago. You are deluded if you think salaries are even going to double in 10 years.
  6. It is not like that anymore. Say goodbye to those mortgages they are not coming back.
  7. It doesnt make any difference - if you earn 25k / year you are not going to qualify for a 250k mortgage be it 100%, 90% or 80% LTV.
  8. Negative equity does not inflate house prices. To be honnest, the sooner that all of these IO mortgagees go into negative equity the better.
  9. There is nothing wrong with 100% mortgages. 100% mortgages do not push up house prices. It was high income multiples and IO mortgages that caused this mess.
  10. And here lies the real reason why we have rediculous house prices now: It's all of these people who wouldnt normaly be able to buy an expensive house having the oportunity to do it for the last 10 years. I suspect that it is these people that are also keeping the bubble inflated - they have to keep house prices rising or they will sink
  11. Peterborough has a huge problem with Czec immigrants - so much so that two local MPs wrote to the main parties asking them for help as the situation is now critical. Why cant all of these people be shipped over to Ireland? Doesnt Ireland have a favourable benefits system like the UK?
  12. ...and if we do have high inflation, like you say, high interest rates come with it - so the IO mortgagees will see their monthly payments rocket. Stupid silly people....
  13. Even if they sell at 200k (unlikely) then they still have to find 50k to give to the bank.... Im glad I dont have that kind of debt facing me in the future, especialy when I am at retirement age and wont be able to get a loan for that ammount. Im sorry to sound smug over this, but I think this is where the renters and the people who have repayment mortgages can sit back and say "I told you so...."
  14. There is no way that you will sell a 250k house for 500k. There are no sales anymore because people do not qualify for a mortgage to match the asking prices. What is going to change in 10 years time? All of our salaries are miraculously going to multiply by 20? I think not.
  15. This is simply not true and epitomises the mind set of everyone that took out an IO mortgage in the last 10 years. At the end of the term you owe the bank the capital cost of your home i.e. The price that you bought it for. So, if you stupidly took out a mortgage for 250k without an investment plan you will owe the bank £250k at the end of the term.
  16. ...hide all the clutter in the garden shed, switch all the lamps on in every room and put so many cushions on the beds that you can't actualy get into the bed anymore: Voila - plus another £25k
  17. http://www.moneyweek.com/news-and-charts/market-data/ftse/market-overview/market-overview-gains-evaporate-after-spain-downgrade-100428-1657.aspx
  18. This is excellent. Its on the Beeb now. The lady only voices what so many are saying yet the three big parties are ignoring: Unrestricted immigration of East Europeans since 2004 who come to the UK, take state benefits and get pregnant at 13, 14 and 15 so that they can claim child benefit. This is not about Polish people who come here to work - its about the parasites. Read this about Peterborough http://www.dailymail.co.uk/news/article-1264930/Peterborough-struggling-immigration-toll.html If you want this to stop then read the UKIP manefesto - they want to put a stop to uncontrolled unskilled immigration.
  19. Yup thats about it in a nutshell. And they are the majority, so dont expect house prices to drop either as they can't bare the thought of not being 'rich' anymore. You cant stop this from happening so you have 2 options: 1. Dont buy their properties (they only have as much equity as someone is willing to pay for their house) 2. Leave the country and pay into a different tax system.
  20. What goes around comes around: You can now point out at dinner parties that unlike the boasting home owners, you are free to move wherever you wish, can upsize, downsize, are not indebted to a bank for half a million quid, wont go into hundreds of thousands of pounds of negative equity and wont get your home repo'd when you're 65 when you realise that you didnt put anything into an investment plan to pay off the capital on your IO mortgage. That should give them indigestion at least.....
  21. Burn all the Czec immigrants in Peterborough. Simples!
  22. EAs dont care if you are broke as long as they get a sale and therefore their commision. Its the lender that will want your deposit. You should always get a mortgage in principle before house hunting as you will just mess people about and maybe loose money on pointless surveys if you dont.
  23. UKIP will. They plan to reduce all benefits to one and only give it up to the third child.
  24. Could wages go up more quickly? Dont you mean Highly UNlikely? Where are businesses going to get money from to raise everyone's salaries? GDP hasnt even broken into single figures for a 3rd consecutive month and will likely fall. Quite the oppositie is happening at the moment - people are being forced to cut their rates, reduce the working week, reduce or remove bonuses and take pay cuts. There is no progression and still no huge amount of new jobs being created. The only things that are likely to go up are interest rates, inflation, taxes and benefit payments and for some strange reason house prices.
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