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About LumpHammer

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  1. Can anyone find a link explaining how the funding for this specific "initiative" works? Best i can find is that it's part of an overall £12bn programme of demand-side stimulus.
  2. It reminds me of the post war Japanese economy where banks bought the distressed assets with newly created money, stabilising the system. This is different although it sets the scene for how a future crisis could be handled. I think this an ethical issue between government, the banking sector and large business. There will always be an entity in control at the top, a hierarchy - but who is that and do their interests make things better for normal people. I'd personally feel safer renting from a bank than amateur landlords. Whilst my own experiences of renting were generally OK (at worse inept maintenance / arguing deposits) my partner many years ago had a fairly horrid experience that would almost certainly not happen with the likes of Lloyds as a landlord. On the down side if done on a large scale I think this will make private home ownership harder and raises a conflict of interest with regards to mortgage lending.
  3. If it were me, i would take the view that the mains water supply is likely OK or if there are issues they would be easy to fix. The heating is more questionable, boilers do fail especially after long periods of inactivity. Central heating also, depending on the configuration it might an expensive fix if stuff is corroded / clogged etc - or it might be easy - who knows If the water and gas were disconnected because perhaps the original owner has died and it's sat in probate for a while, then that's a reasonable explanation for why the agent doesn't want to turn it on but I think you need to use your own judgement. It's unlikely the seller has any responsibility if it's sold as-is but a mortgage company (if relevant) may cause you grief when they do their own survey. If you have a link to the house or a more detailed description of age / construction people will likely be able to help more. For what it's worth if you're diligent and willing to learn, plumbing is pretty easy to do yourself
  4. It saddens me how few older cars I see on the road considering quality marques have had good chassis corrosion protection for two decades and most drive trains are now engineered such that with good servicing will last a very long time. I'm not an EV driver but will those of you who have EV's be keeping them for longer periods of time compared to ICE powered cars?
  5. That sounds like a great project, all the best to you in getting a plot. I will take your word on future trends, I don't know. Currently around me all but the larger developments are using brick / block but there is no reason why SIPS couldn't be used. The stories of problems in SIPS built houses appear to be general quality issues that would also affect a traditional build although I'd imagine the problems might manifest themselves sooner. In housing developments the reduction in build cost has little chance of being passed on to the buyers as it's not a competitive market and my perception is that many buyers have little interest in / knowledge of how the house is built regardless.
  6. Traditionally (40-50 years) the inner leaf is blockwork and provides the supporting element, the brick outer is mostly aesthetic although it provides some buttressing, the inner and outer leaf are linked with stainless wall ties. Persimmon and other house builders are using SIPS panels in place of the blockwork as Jason has said but it's only the large scale of their business which allows it, the small and medium scale builders are mostly using the traditional way. The advantage of SIPS is primarily cost - a reduction in on-site skilled labor and quicker build time where multiple trades can be run in parallel as opposed to traditional build which is sequential up to a later stage. Persimmon have a separate business called Space4 who manufacture the SIPS panels used in their homes, this is a bit old but describes the construction: https://www.persimmonhomes.com/corporate/media/298539/space4-presentation-3rd-november-16.pdf The exterior finish in the article is poor but sadly common, normally a medium to large developer will get the build out of the ground to DPC with their own people who are employed directly and are usually highly skilled and get it spot-on, after that developer hands over to contractors who's interest is to get it up in the shortest possible time.
  7. My neighbour rents out a small flat, suspect it's owned outright or at least very high equity. Says he's going to sell it - "when they start these things it only goes one way". If the Conservatives want people to own because OO are more likely to vote Conservative - does that mean that Labour may have intentionally encouraged BTL because tennants are more likely to vote Labour...?
  8. Hello, I've been a member here since early 2009, i feel ive learned a lot from this site - mostly by lurking and reading. I bought a house (my first) in April this year, i have a relatively good job and i don't spend much so i was able to save a lot for a deposit. The house i bought suits me well, its a small house with a very large garden just outside of Milton Keynes, i like working on cars and gardening and i don't have any kids yet. I bought a house instead of renting because i was in a position to and i wanted a big garden. Things i've learned: The majority of people are utterly stupid when it comes to buying houses, if they can borrow it then they'll borrow it. Don't bid against these people, you'll run out of sense long before they run out of stupid. Houses are expensive. Despite buying a house that didn't need any real work and having mortgage repayments vastly lower than my old rent, i have less disposable income. Things break and need fixing, and it seems to be every month that i have to spend money fixing something else. Renting was cheaper. Use tools available to you to decide if what is being asked is reasonable by things like this brilliant little site which i think might have even been written by someone on here: https://houseprices.io/ Advice i would give to other people: Rent for as long as possible and if you can rent from a landlord directly, preferably one you know. Estate agents will lie and decieve buyers, always and without question. This wound me up something chronic at first. Always do your own research and don't rely on solicitor searches. They miss things. If you know about house construction and are prepared to do some research into the areas you're unfamilliar with (for me pile driven foundations) then a survey is pointless, spend some time, learn some stuff and do it yourself. Lastly: I would like to give my deepest thanks to you guys at housepricecrash, i've learned an enourmous amount as a result of this site either directly or because something has been said which i've gone and looked up. In the future i would love to see house prices go back to sensible levels. I think presently they are 30-40% over valued and i think our children and the UK in general would be much better off if they were to correct. In the long term i can't see why they won't... Thanks guys Tom
  9. If the BoE were to raise interest rates whilst the UK economic position in the world remained the same i feel it would result in higher inflation. What way that inflation would manifest i don't know but i suspect that raising the base interest rate might be a very good way to increase lending to SME's since you are sending a suppressive message on housing (by the rise itself and the other measures being implemented in the mortgage market) whilst having a lot more money available for lending. The money has to go somewhere. I don't think that 2015 is a good time to hold an election, i think it's a terrible time for the incumbent. Regards
  10. I was speaking with a financial adviser at Natwest over the weekend, he mentioned that they had been under a lot more load recently due to the new Help to Buy scheme. The majority of these inquiries were from prospective first time buyers who thought the scheme was somehow giving them a larger deposit and almost all did not realize that the interest rates were higher than on conventional mortgages. He thinks that the uptake will be quite high even though the participants aren't really gaining anything. I don't see any reason why he would have mislead me and i think he's correct. Personally i think it will "work" in that it will raise prices, not lots but a probably a little bit over the short term. However, given the backdrop of high inflation, poor wage growth and increasing pension contributions etc this feels like the Ludendorff offensive of economic policies. I simply don't think there is the public will to support price wises and the fundamentals are actually worse than in 2009 for many. This scheme is drawing early the naive younger buyers in financially better situations than their peers. Regards
  11. I emailed my MP two months ago regarding Funding For Lending, the reply i received from someone in the office or George Osborne was pretty much the same as you. There was no attempt whatsoever to answer my question. Regards
  12. I don't know much about these things but i feel like this is a bit like the start of a crack up boom If the world wishes to deplete savings via subversion, inflation and potential forfeiture then the money will transfer to assets
  13. And if they aren't inspired by engineering whilst at high school they probably won't choose to gain qualifications at either college or university
  14. Kids won't gain the interest if they aren't inspired by their teachers, most engineers don't do it because they have unnatural ability (i certainly don't) they do it because they are interested. Many science, esp. physics, maths, DT teachers now have no industry knowledge and went straight from university into teaching as it provided the best career / pay with their qualifications. Regards
  15. I rarely log in but due to the amount of incorrect or disagreeable information i thought I'd add my 2p worth: I'm 30, i have a strong engineering degree from a good UK university, i work in electronic engineering and i have 7 years experience. I have a job i enjoy and i earn slightly under £40k - i believe this to be about average outside of London. There *is* a chronic shortage of new electronic engineering graduates, the ones i do see are generally of poor quality and i speculate that the universities have dumbed down the degree courses. Especially when it comes to implementation the "new kids" don't know how to actually make stuff. Its as if engineering is being taught by academics as opposed to engineers. I also believe that the infestation of high schools with otherwise unemployable graduates fresh from university, who know nothing of engineering (or much else of use) is doing no good what-so-ever. The next point is about the salary, yes there are fields that pay a lot more but in the scheme of things forty thousand pounds (written for effect!) is a lot of money and yet it isn't when housing, insurance and general taxation are taken into account. You know what the problem is, it's been stated many times in this thread. Regards
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