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Everything posted by mbga9pgf

  1. “Welcome to the thread…” how quaint. I was on HousePriceCrash as one of the first members, and was on here over 8 years before this thread even started. That was 3 years before you joined. Sorry, didn’t realise you “owned” the thread, chap.
  2. Sure ting. https://markets.businessinsider.com/currencies/news/bitcoin-risk-regulation-bis-crytoasset-basel-committee-2021-6-1030512391
  3. So, in my mind, what has changed… BIS requiring 100% capital requirements against Bitcoin makes it difficult for any bank to use it as a tradeable commodity. For every 10 dollars their customers trade in Bitcoin on margin, they could have traded 100 dollars in most other assets. since the BIS announcement of 1 for 1 BTC capital requirements, the price has tanked.
  4. This strike has as much to do with pilots being forced onto lesser paid contracts (a forced move from the A340 fleet to the A330 fleet with worse t+c's) than pay freezes. so they say anyhow.
  5. sounds like a perfect opportunity for money laundering.
  6. Good job I am on a 25 year lifetime tracker at 1.99% over base.... Not excessively cheap, but still not bad IMHO.
  7. No significant (above 3%) rise for the next 5 years IMHO. The effect of the government cuts is going to be severe and seriously knock demand. It wont be until the run up to the next election that we will see the benefits. I have spoken to some pretty senior individuals who have stated that next years local by-elections are going to be a bloodbath for the Cons and the libs. Reason? The redundancies will be announced, en masse, over a 2 month period.
  8. Any of your jets nearly run out of fuel recently? Still SOP to taxi back to the ramp at 40 Kts? Cowboys. The number of foriegn pilots struggling with english RT wearing a Ryanair callsign these days is indicative. Each to their own I suppose. Do they still get the crew to pay for their own tickets and uniform?
  9. Im on 2.49 lifetime tracker at 1.99% over base....bit of a gamble, but going to have the mortgage down by 1/3 in 2 years so what-ho!
  10. Peter, sorry but I have to disagree. I have toquestion why the crew questiokned arc as to whether they needed to evacuate, any experienced crew I know of (including myself with 3000 hours heavy and 1000 widebody, 500 captain) would ask that, it's a no brainer. Except I think we know the answer. Eyanair operate like a cutthroat business, where crews are binned at the first "mistake" and crm comes second to profitability. He asked because he wanted to be devolved of thre responsibilty of the decision. Which costs time, something you don't have the luxury of during a fire. Flown with Ryan a few times now, from what I could see from the back, the resounding impression I got each time was "gash operators" and " accident waiting to happen".
  11. Yep, seeing as we bought at 30% off the original valuation, we both have secure jobs and the mortgage for the forseeable is just over 1/3 of single salary. Besides, we found the "forever" house, not somewhere that was a stepping stone. The decision was a no-brainer. its a [email protected] having to cut 1 acre of paddock every 2 weeks with a 52cm petrol mower!
  12. Starting to look like that lifetime base tracker at 1.99% over base was a smart move!
  13. Yeah, really great idea with the resource shortages and world instability are round the corner....
  14. Free market economy. Deflation and 20% price falls to come. Buy quick though. If anyone lives in Oxfordshire and is looking for a decent return, give me a PM. got some good gen for them.
  15. You have a bit of a wait. They have 200 bill in QE they need to reverse first.
  16. 'Ol Dave will have a fiscal solution to this little problem... Seeing as wage inflation is the only reason the BOE arent hiking at the moment, a supertax on bonuses may be for more than publicity reasons... It MAY be to try and control wage settlements and the course of UK interest rates.
  17. Best place is google I reckon. Seriously. No limit to what you can pick up on the internet. Dont bother with books or instruction manuals these days. Just DIY forums/MSE and of course, here!
  18. Cheers Bloo. Unfortunately for the other purchasers, they had over 400K of debt when they bought the place. We have just over half that. No car loan Interest free CC to be cleared by late july only outstanding debt will be the mortgage, which we will reduce to 3.5 times single salary in 24 months./ Will see you over at MSE for sure!
  19. We thought about that, but there is nothing on the market at a similar price. It would have sold. The next nearest we could find (albeit without lots of manual labour and work required) is on down the road for 450. It was a no-brainer.
  20. Guys, I said a few weeks back that we had an offer accepted on a repo and that I would be stopping coming here once we completed. Well, we did, so I thought I would give you some handy pointers. Suffice to say, if it wasnt for here, we wouldnt have ourdeream home, more of that later.... The House: Last Sold for 350K in Q1 2006, at auction. The property was in a very poor state of repair when it was bought last, as the chap who was LAST repossessed kept all the windows/doors open, pulled up all the floorboards etc and fled, before the place was found 3 months later. The repairs and upgrades they did to the place were extensive, and part of the reason they went bust. Having gone through the finance, they were already insignificant debt, having been given as much money as they wanted by the banks and had already maxed credid cards and business accounts. They were, imho, looking to buy a place, do it up, jump on the HPI bandwaggon and pay off their debt. They were desperate and the banks went along with it. How we found it. My wife and I have certain search areas defined, with set budgets. As we were looking to go up to potentially 320K however, we were looking up to 350K, to then put in a cheeky offer. Of course, Property-bee.com is a must, as we were able to track the property fall from 440K, to 390K, to finally 340,500. The drop was huge and it was this that prompted us to go for a viewing, as we thought "Desperate sellers". What we found on viewing We only actually found it was a repo the day we viewed,"Do not use" tape all over the place, water supply off, letter box full of mail, possessions lying around As it had a large garden, we had an hour before the official viewing looking round the place to suss it out from the outside, and check out the land. THis helped massively, we had downloaded a sample surveyors report and were familiar with the building phraseology (soffit, eaves, gable end etc) this then meant that when the EA came round, we had a clipboardfull of notes, dimensions, meter readings, problems with the house that we could see through the windows etc. This puts you at a MASSIVE advantage because EA gets put onto back foot and thinks "wooow, these guys know what they are doing". We then spent an hour viewing the property and doing the same rigerous check on the inside, taking up lots of EA time, asking questions about timelines for completion etc. We noted down how many power sockets, what was included with the sale, work outstanding, loft insulation and condition of the roof (we took ladders and a torch). All this meant we were comfortable putting in an offer 1 hour after the EA turned up at the door. We offered 320K, which we stressed was our max, but we were able to complete in 2 weeks. Our situation As a result of coming on here, we had managed to save over 100K over the past 4 years. I cannot stress too much, the importance of a savings history, no chain and a large deposit when attempting to buy a repo. These three things will save you 10-20K over other couples with poor deposits and a chain. All the asset management want to do is get a realistic writedown on the asset, as quickly as possible. The last bit is more important to them than a few percent on the former point. The Worst 2 Weeks of my life Well, after we had our offer "favoured", we were given 21 days to get to exchange. Impossible? No, not at all. you need to be on the ball though, one day I sent my solicitor 15 emails chasing stuff up. How did we do it? Things that are essential. 1) Conveyancing solicitor on your side and able to pull out the stops. FORGET online cheap conveyancers. The extra 200 quid you will spend on a reputable local solicitor (if you know one, family friend etc USE THEM, we did!) will mean the difference between buying and being outbid. When you sign the terms of business, stress to them you will be regularly emailing and you will be expecting rapid replies to all emails. Timliness is the key and your solicitor is the key. 2) Finance. Couple of things we did. We frigged the max lending certificate (agreement in principle) from HSBC to read as if we were all in with nothing else to give; this made a difference as the EA knew he couldnt squeeze us any more than he already had. Stress, again, that timliness is key and you will change mortgage providers if they cant get this through in 2 weeks. We were told 4 weeks were the minimum, but by scanning in docs direct to head office, changing surveyors (more of which later) and keeping on top of them with regular phone calls, we could guarantee we got 4 weeks down to 2. 3) Know the process. Know what is going on around you, know what can be done concurrently, know what is coming up next in the buying process. 4) Surveyors. When you arrange your mortgage finance, ask which surveyors the company use. Check on google. We were due to use a company called E-surv, they are the fast food equivalent in the industry but have a massively bad rep for undervaluing, which can destroy your offer and waste all the money you have spent already. Direct valuations was the company we went to, we spoke directly to them, by stressing we needed to move fast and that E-surv couldnt do the valuation foranother week, we got it done next day. Ring around. With a repo, you want to go with who is quickest, not who is cheapest! 5) Estate agents. The asset management company made a massive, and I mean MASSIVE boo-boo by employing 2 EA's and not splitting the commission, instead favouring the all or nothing approach for each EA. This meant that actually, our EA was on our side as he was going to lose a fistful of cash if we didnt complete to his competitior. In short, timliness was key. With a repo you see, even though our offer was accepted, we had no right to the offer until exchange, meaning we were liable to be outbid before exchange, and losing all our cash we had spent up to that point. We were outbid twice. We cried a lot about losing our dream home. We then found out the first bid didnt have the finance. We were overjoyed. We were then outbid again. We cried a lot again. I was unbelievably stressed and away with work, in the middle east. My mobile bill for the month was 120 quid and I got through 40 quid in skype fees. We then found out that despite being outbid by 20K, the asset company and banks favoured our offer still, as we had no chain (they did) and were unsureof completion dates. I flew home from the Gulf and found a voicemail message from the missus on landing informing me that we had exchanged. The nightmare was over. I cannot tell you how stressful the whole process is, especially considering the sums involved. My big tips remain extant. If you have a large deposit and no chain, you are on to an absolutely enormous winner. I cannot overstate this. Secondly, come across as professional. Its all about completing as quickly as possible. The EA was shocked we got to exchange in 8 working days, he had never seen it done that quickly. It can be done and must be. We were fortyunate with the public notice; the offer was accepted the day the public notice was due in thepaper, the counter offer went in the day after, meaning we only had to wait 1 week to be in a position to exchange, wheras they had to wait 2. If your missus is a bit mental or a stress head, I dont recommend this process to you. Go and buy a barratt home on a newbuild estate. Its not for the faint hearted, its an absolutely massive gamble (we would have been 1700 quid down if we had been outbid on exchange day) but the payback is massive. For 325K, we got: 1 Acre 5 bedrooms 4 bathrooms Mbga9pgf signing off (although I may post replies on here, I will not be posting to the rest of the site). FWIW, I still think a 20-30% crash is on the cards, but we bought our dream home for the next 50 years, so who cares? Take care and god bless. You will all have your day. Patience is key, so is an understanding wife!
  21. Will do. Will spend a day or 2 pulling it together, with the end of SMI, I think it could be quite a useful post.
  22. Hmm... without disclosing too much, Bank of scotland, for £300K, with "other" unsecured lending, including 4 cc's maxed beyond 5k each, bank account with 25K limit. We werent noseying, we are ensuring that we dont get our credit ref affected by their misdemeanours. All the companies we rang didnt know about the posession notice, and they got their first back in 2007, barely 12 months after purchasing the house. Other chargees? Only 2 got paid back, of the Dozen lenders/businesses with outstanding finance (gas/elec/council/water board), as only 2 had second charges on the property. Of those 2, only one will get all the cash back. The second before I forget was for a seperate 100K secured "shark" loan which kept the bailiffs away for a bit longer I reckon. I didnt have to rummage. All the paperwork, letters, baliffs letters, eviction notices we kept together. Unopened. As for how long to evict, I think they were allowed to try and sell the house for 12-15 months before they were evicted, and it looks as if it happened pretty rapidy, as most of the possessions are in the garage, boxed. Or now recycled. As for the state of the property, I have just got out of the bath having spent the last 48 hours cleaning up human and animal faeces, 7 month old rotting food out of the freezer, as well as doing something about the rodent infestation in the house. Its not pleasant, not least because they also left family pictures, kids school work and clothes. I would be a pretty hard nosed [email protected] if I said it didnt affect me. If anyone thinks it appropriate, I will put up a buying guide to repos up here for hints and tips sometime. But only if I get the interest (PM me if you are shy) and people genuinely want to know the potential pitfalls in the whole process.
  23. Not to sound like a smart @rse, but when you save a 25-30% deposit. Unfortunately, that isnt going to change anytime soon. Oh, properties are out there. We just bought a house for 15% off its Q1-2 2006 value, after its had loads of work done to it, solid oak flooring, 2 new bathrooms, new kitchen... Repo, they left all their belongings behind, including 2 Dysons, 2 full size freezers and enough stuff to keep me busy at the car boot for the next 15 years. Keep your eyes peeled. If you have a large deposit, can move quickly (we viewed, exchanged and completed in 2 weeks....) it CAN be done. We were outbid twice but our offer was favoured as we were on the ball, werent messing around and most importantly didnt have a chain. Oh, I think the election looming helped too.
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