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House Price Crash Forum


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Everything posted by ArthurHon

  1. These people certify their income to the inland revenue so they pay tax on it. They don't need to self certify to a lender as they can just show their published accounts. Perhaps they are not paying tax on all their income!!! Unthinkable.
  2. With so many of the population in debt is debt deflation politcally acceptable? It doesn't seem to be so far and with the a lot of people and more importantly, businesses carrying debt can everybody go through the mill?? I don't think so ,the country would cease to function before that, I think there will be some kind of reset. Perhaps the money to pay off government debt will come from the Bank of England..
  3. I wonder if we are at a break even point as ultimately I think of what a house will cost me, per month, over 25 years with a strategy of securing a 10 year fixed rate. If we see higher, rather than even now, fairly benign inflation we should higher interest rates to (belatedly) protect the currency. Low interest rates = small interest payment, higher debt repayment High interest rates = high interest payment, lower debt repayment (as smaller loan) Net result after 25 years, no mortgage. Ball park figure shelled out per month probably about the same. The cash I hold is a worry, if I get laid off when I have money I get nowt, not even a council house until all my money is gone. If I've got a house, they'll pay my mortgage, granted I'll be on the breadline but.... my kids will still go to the local school which is not infested with awful people and I won't have to move house on the whim of another. I think houses will cost less in future (real terms) but since I have some money what else will I do with it since I don't have secure digs?
  4. http://www.geocities.com/hollywood/trailer/5735/ There is a book you can sign to let her know she's loved.
  5. Why was no one alarmed when the auctionfailed in 2002?
  6. Halifax don't use multiples as everything is based on affordability these days but it worked out at 4x household income and would not require further proof of earnings, though have a big deposit. Building society told me to bring payslips had to make an appointment etc. Was expecting old school style interview however got a one hour sales pitch, I was delighted that they couldn't justfy the need for payment protection as I said labour will cough up if I get laid off. They said they would lend me 4.25x income. Certainly seemed to me if you are willing to put you money where your offers are the loot is available.
  7. Hello there, Been lurking for sometime after discovering the site when I couldn't shift my house after going on the market late 2007. Managed to find a fool almost as great who paid only slightly less than I did for the place in 2006. My commitment is now wavering and I'm thinking of taking the plunge again if I can find a 'motivated' seller of a good house. Current rental house being sold from under us unfortunately.
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