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benbfc

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About benbfc

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  1. Completely agree - but the airtime taken up on this was crazy. Meanwhile rome burns.. but at least we can leave on a cheaper train (after 9.30am)
  2. Fascinating read chaps. A general lurker hear whose eyes have been opened by the vast array of knowledge and bright decent people on here. I am in my mid 30's. Have a small mortgage by today's standard but have been generally concentrating on paying that off, student loans off, extending the house to make sure the one child and probably more can live here through the turbulent years ahead. I would like to purchase some basic stocks of gold/silver, just drip feed my ownership alongside saving some cash and continuing to buy small levels of shares in defensive companies - to spread risk as wide as possible. I think its been discussed prior on here - where do people recommend purchasing these metals from? Is there an accepted best route to purchase these? As a contribution to the general 'on the ground' consensus. My peer group of 1980's birth chums have been completely brainwashed by the media and the events of the past few years. I would suggest that under 10% of the people i know are putting a reasonable sum on money into any vehicle to save for retirement. The purchasing of overpriced slave boxes, on areas with few amenities and reliance on cars continues. People are buying still at massive income multipliers - it is genuinely scary. I have stopped trying to persuade people to think outside the box. I bought my house four and half years ago under pressure from the mrs to start a family and bed down (at a multiple of 2.5x joint salary) and have watched in disbelief as prices continue to rise completely out of touch with any kind of reality. To move up from a 3 bed semi to say a 4 bed detached on the outskirts of Warrington/Manchester where i am you are looking at asking prices of 600k+. Absolutely mental and all very depressing. The collapse, when it comes (and IMO is unavoidable now) is going to destroy a lot of people and probably burn a lot more. However, it now has to happen. To listen to the radio this morning on the eve of a budget to hear people discussing a 26-30 year old railcard shows just how badly the government are pulling the wool and the sheeple are following. Depressing times! rant over!
  3. Building Surveyor here, based in Manchester for 15 years (live on the warrington side)... currently working with a number of European firms who are relocating offices into the city centre, taking 10 year leases. Talent pool, infrastructure and value are the main drivers. We service the UK from a Manchester office keeping the overheads low in comparison with London. Great place to work and live providing as a southerner you can adapt to the underlying threat of violence!
  4. An interesting link and interview being reported on the Estates Gazette Website today (sign up needed) http://www.egi.co.uk/news/completely-retail-fb-sector-to-implode/?keyword As a member of the RICS (not on the valuation side) and having to put up with all the pie in the sky neverending growth rubbish trotted out every quarter this sort of article does show that some people get it!..... Share this: AUDIO: The growth in the UK’s food and beverage market is unsustainable and there will be significant closures in the next 15 months, a retail expert has warned. The supermarket sector is also set for cannibalisation, Matthew Hopkinson, director at the Local Data Company told this week’s Completely Retail conference. “My biggest worry [over the next year] is the F&B sector. In the last five years we have seen 14,000 restaurants open. I know we are an obese nation, but how many more restaurants do we need? And when you look at the profitability of those players, it will start to become a challenge,” he said. Hopkinson predicted that because of high consumer debt the economic bubble would burst. “We are going to see some of the bigger players go into administration or we may start to see an impact on the independents,” he warned. Hopkinson added that with the constantly expanding supermarket sector, there would be “a bloodbath of competition with chances of cannibalisation.” To hear the full interview, click on the audio player below, or download from Estates Gazette’s iTunes channel.
  5. From Place North West Website - Knowsley unveils first-time buyer plan 29 Jul 2013, 10:33 Knowsley Council has set aside £1m to help around 45 buyers get on to the property ladder through a reduced deposit scheme, which became available in local branches of Lloyds TSB from Friday. Lloyds TSB's Local Lend a Hand product was devised with Sector Treasury Services, part of the Capita Group. The scheme enables borrowers to buy their first home with a deposit less than the 10% required by most mortgage lenders. The fixed rate mortgage products that will be available during this scheme will also be at a lower rate of interest than would normally be available for this level of deposit. Cllr Ron Round, leader of Knowsley Council, said "This is a great boost for the borough. Through the scheme, first-time buyers who can afford mortgage repayments but not the initial deposits may get a foothold on the property ladder. This will help to create access to housing for first-time buyers, which could then stimulate additional moves in the resulting property chains. We have a great choice of affordable housing here in Knowsley and I would encourage first-time buyers to take up this great opportunity." Subject to Lloyds TSB's usual lending criteria, borrowers are able to select any existing property in the area covered by Knowsley Council up to a maximum loan of £133,000. First-time buyers will put down a minimum 5% of the property price, and Knowsley Council will provide a cash backed indemnity of up to 20% as additional security. The local authority then earns interest on this amount. The first-time buyer owns the property in its entirety, and will have access to a range of products at a lower rate of interest than would normally be available for this level of deposit. -
  6. The jobless recovery continues! Plans to cut 1,000 jobs, a fifth of the workforce, have been announced by Cheshire East Council. The authority currently employs 5,500 staff and is proposing to reduce the number by 1,000 over the next three years due to cuts to government grants. It said it must reduce its £140m annual wage bill but it is hoping to do it "without large-scale redundancies or major cuts to essential services". The Unison union is yet to comment on the announcement. 'Difficult circumstances' The council said its focus was to "reduce waste, duplication and bureaucracy, as well as cutting management overheads". The authority said it hoped to avoid large-scale redundancies with new ways of delivering services, transferring staff to new organisations and with natural turnover as people leave or retire. Council leader, Conservative Michael Jones, said he was "proud of the quality and creative thinking of our staff". "They do a fantastic job in difficult circumstances," he said. "We will do all we can to support our staff through these changes. "This will include finding suitable alternative work, where necessary, and investing in retraining them to keep their skills up to date. "Our bold, but careful approach will give priority to protecting essential frontline jobs, and to investing in good-quality, value-for-money services
  7. In the North West the majority of houses are now seeing back to 2004 prices on the land registry figures... The Rightmove asking prices are generally coming on 10% above this and being knocked down however we can all point to a clutch of deluded sellers who are putting their properties on at the same price as their 2006-2008 purchase in the hope/delusion that someone will pay this.... From my review (quite sadly) of 100's of roads on Nethouseprices etc over the past few months it appears certainly in Manchester Suburbs that the main jump in house prices occurred between 2003-2005. The question in my mind is whether we are going to see the gradual slide towards to these figures (which in my mind would make property pretty cheap by the average income up hrere) or are we going to stick at these figures for some time? Back to 2002-03 prices would be an absolute bloodbath for probably 90% of my friends who all reached mid twenties and bought (without exception) at 2006-8 levels.......................
  8. The council will have to cut £200m more over six years than initially thought Bosses at Birmingham City Council say £600m of savings must be made by 2017, with £120m in the next financial year. Cuts of £62m to the Labour-run authority's 2012-13 budget were voted for in February with warnings that 1,100 jobs could go. Council leader Sir Albert Bore said the authority was still looking at those job losses "over the next few years". He said some of the council's services would have to be "decommissioned" completely to meet the savings targets. The council leader warned the authority could face an additional £60m to £70m of savings on top of the £120m for 2013-14, depending on cuts to direct government grants. 'Horrendous' situation He said he had written to Eric Pickles, the minister in charge of local government, for clarification. With the extent of the cuts over the past few years and with more to come, we have to start decomissioning services” Birmingham City Council leader Sir Albert said the authority was now looking at cutting £600m in total over the six years running up to March 2017 - £200m more than initially thought. He blamed successive cuts in government grants for the council's "horrendous" financial situation, which he said had not taken into account population changes, inflation and other costs. The leader said the government had banned authorities from raising council tax by more than 1.6% without holding a referendum among voters about whether they would be prepared to pay more. He refused to rule that out as a possibility. Sir Albert said: "This is the end of local government as we have known it. "But this is not the end of local government completely. "It needs to be inventive, it needs to find new ways to work with partners like public agencies, schools and the business community to find different ways to do this." Labour took over the running of the council, the UK's largest local authority, in May from a Conservative/Liberal Democrat coalition. The council said it would be holding several public meetings from next month over which services should go. Sir Albert said that at its height, the council employed 19,000 full-time members of staff but that figure would fall to less than 15,000 over the "next few years". He said it would be mid to late-November before they would have more details on how many and what sort of jobs would be affected, although he said some senior posts could be axed. Sir Albert said there could be "no more 'salami-slicing' of services". He added: "With the extent of the cuts over the past few years and with more to come, we have to start decomissioning services. "I am not looking forward to this but it has to be done." Initial thoughts is 15,000 is still probably 2/3rd too many!
  9. Does anyone know a rough distribution of when these IO mortgages will end? I imagine a large % will have already ended and renewed - it would be good if a large % ended in the next 12 months then the excrement will hit the fan!!!
  10. Interesting Spy. Over the last couple of months it appears that a growing number of people are waking up to just how knackered our economy is looking in the medium term. Another few months of 'bad news' making its way into the press will only increase the numbers - IMO what we need early part of next year is a decent report to find its way to the more widely read newspapers stating big falls in HPs this year to really set a panic off. The north is already showing good falls in 2012 in the less trendy areas and 2013 'could' be the year! Another 9 months to sit and wait I think!
  11. hmmmmmmmmmmmm is this a vendor advert!............
  12. Price-sensitive buyers shied away from stock at CBRE's sale yesterday where less than half of the stock sold. Just 42% of the 43-lot catalogue sold at the Millennium Hotel sale. Some £9m was raised, reflecting the lowest revenues for the agent since it entered the auctions market last year. Seventeen out of 43 industrial, retail and office lots offered sold, including four prior to the event. Auctioneer John Townsend said: "It was a difficult day. People are chasing the market and they are making an offer when they see what the bottom is. It is the three-bites-of-the-cherry approach: before, during and after the auction." There was strong demand for realistically priced receivership lots with six out seven, changing hands and raising £5.4m. This included a leisure investment in Hertford guided at £1m, which sold for £1.3m, a 10.6% yield, and retail investment in Saffron Walden, Essex, guided at £380,000 to £390,000, which sold for £504,000 - a 5.8% yield. Other successes included the first lot of the day, a Costa coffee shop in Newport, Shropshire, which sold for £301,000, a 6.3% yield, and a freehold ground rent in Stevenage, Hertfordshire, which sold for almost £1.2m, a 4.7% yield. Courtesy for Estates Gazzette
  13. Manchester suburbs - 'Good' ones - Didsbury and all the leafy areas around the airport - holding up pretty well. Average to percieved bad areas - dropping like a stone, nothing selling. Further carnage to come..........
  14. All - Thanks for your comments. Its going to take some balls for me to leave a relatively safe job etc but I think we are coming round to the fact we have to try it while we are young...... Aussie - Thanks for your offer to answer some queries. Take Sydney - I would work in the CBD by week (Pitt St ish). How much would it cost me to get rent a 2 bed place within 20 mins on the train in the morning? Or am I better getting somewhere really central and paying more? How much to get a decent broadband and phone package? For me I know the cost of shopping etc is more and thats fine as we dont eat too much! We would want to go out and see the wilderness with our time off and probably mean renting a car which I assume is relatively cheap?
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