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Foundthelight

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Everything posted by Foundthelight

  1. My other half is a management consultant contracted to a government dept.... She’s on a £100k + a year but being charged out at probably 3x this amount. She says that half her colleagues are moonlighting on the side doing “other work†and shall we say not exactly working late hours. There appears to be little to no come back on either side and effectively some have gone “native†within the dept. There are 40 of them how many is this multiplied across the whole government? And we’re paying for this? WASTAGE. Of course I can’t complain!
  2. Unfortunately that’s what you pay in London. It’s not that nice and there’s an insane Scotts man living in the flat below, that if you merely cough he starts shouting and swearing... And when I say Clapham South... Poynders road if any of you know it... not that nice...
  3. I know – I was highlighting that why would you lumber yourself paying £1800+ on a mortgage when it’s much cheaper just to rent it.
  4. Funny you should say that.... I noticed the other day similar flats in the block going for £1100. It’s quite ridiculous parents property in small village in Kent valued £425k yet you can rent it for £1250 pcm...? Although I would say you'd look at paying more like £1700 rent for a £450k property in London..
  5. You haven’t met my IFA. Best mate but financially not very savvy......
  6. I'm 34 had a good innings, have met the woman of my dreams and it feels right so why not?
  7. IO - Also should we look at going repayment or using the surplus to pay down more quickly the family home mortgage? The later sounds most prudent?
  8. With her “Ethnicity†I reckon I could get a good price for her on Edgeware road. (London)
  9. Advice needed please.... A bit of background first should help with your pearls of wisdom.... The misses and I are getting married in December and are looking to start a family (god willing) early next year. We are looking to buy June/ July 2010 with a single 3x mortgage. Now.... the misses has a flat that we are currently renting out, details: £180k mortgage (“worth†235k) current rental income £1350 pcm. Although they’ve now gone onto periodic so are expecting them to move out soon. Mortgage Halifax SVR 3.5% paying circa £550 pm. Do we sell? Extra 40k odd to reduce the new mortgage or wait to see what happens with IR’s as we’re getting a good yield at the moment? I know we may miss the opportunity to sell and hit the next dip. We probably won’t get a good mortgage rate if we have to fix.. Ok maybe I’ve just answered my own question? Or is the risk worth it long term? Even with an Interest only 7%+ we would cover the mortgage (interest part) we plan to have a buffer of around £30k but with the misses wanting to no doubt feather the nest and the cost of rug rats... The flat is 10 mins walk to Clapham South tube (London) new build. In 10/20 years will I regret selling it when no doubt history will have repeated itself? Do I need to work out the saving on my new mortgage (the £40k) v long term average HPI – expenses? Arrrhhhhhhh!!!!! Rich
  10. Self employed – Down 50%. Big client’s customer acquisition budget has been slashed by 80%. Will probably be still like this next year ïŒ
  11. Fortunately he’s not too stupid. He’s looking at a purchase price of around 190k. He’s a chartered accountant so as safe as anyone…? Not sure. His companies commercial contracts have certainly taken a hit and he’s just had to take a 5% pay cut. There have been redundancies, mostly unskilled - secretaries etc.
  12. True – I guess it’s all the same but actually spelling it out makes it look even more fookin stoopid.VTrue – I guess it’s all the same but actually spelling it out makes it look even more fookin stoopid.
  13. He’s a 27 yr old professional on 39k. FTB.
  14. Nice house. Thanks for your comments, going to have a look around tomorrow. How do Clockhouse, Elmers End and Eden Park compare?
  15. So begs the questions… If high multiples and low ish deposits are holding (sort of) up the lower end and higher up low IR’s stopping forced sales and a ‘If I don’t need to sell I won’t sell’ mentality when’s it going to change? The only thing surely is a massive hike in Interest rates? What would the REALISTIC combination need to be? High unemployment (3m? ) alone probably won’t do it. It can’t be before the election now?
  16. Bless him. You should hear his spiel, sounds like he’s learned a script. He really should have a better understanding of the wider economy. I shouldn’t take the p*ss too much he’s going to be my best man!
  17. I don’t know I think 15% is fairly low coupled with 5.5x earnings, not worried about further falls? I guess the IR isn’t keen but still.
  18. You have no idea. He has a whole world of “Brentinisms†for starters…. “How much did your mate pay for his new build in Wandsworth?†“I don’t know but it’s pretty irrelevant with these type of properties†WTF?!
  19. As far as I’m aware standard. He didn’t mention any "Please sir can I have some more"
  20. And he won’t either his flat is in a basement.
  21. Mate’s just been offered a Halifax 5.5x salary with a 15% deposit at 6.19%. So much for limiting the income multiples and high deposits. Okay seriously, if this is still happening coupled with ultra low interest rates and greedy f*ck bag sellers… Realized big drops no time soon. Another mate said he won’t sell his flat for less than £300k (Streatham) Peak price £270k. He will want to upgrade to a house In the next few years. Why would he want his flat to be worth 100k more if the house he'll want to buy will be 200k more? He’s an IFA by the way…
  22. Can anybody please give me a heads up on Beckenham? A few people have said it’s quite nice with quick links into London. Ta
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