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Caveat Mortgagor

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Everything posted by Caveat Mortgagor

  1. I wanted to give myself more power and control in negotiation. When we were viewing our house I told the agent my wife and I were interested and I would call him in 2 days. I then called him the very next morning and asked if the buyer was contactable. I then told him my wife suffered a stress related condition and I wanted to protect her from the stress of waiting for an offer to be accepted and that we had to reach an agreement that day whilst she was oblivious to the conversation I was now having with the agent. I stated that failure to reach an agreement that day would mean I would go home and put my wife off the house. All of a sudden I was in control. The vendor had an offer which he 'knew' was only on the table for the next few hours. We paid £120k for a house which had been on the market for offers over £155k. In fairness, I let him think he had won because I initially offered £115k, £120k was his counter. I still wonder if I accepted too quickly. It was all done in about 2 hours.
  2. But car finance isnt cheap. A lot of manufacturers charge in excess of 5% apr on their own approved finance deals for new cars. Buy a second hand approved used from main dealer and they want 10%+ interest. Interesting to note that the manufacturers who offer cheaper credit have lower residual values as people are more likely to have a new car on low interest / interest free for very similar payments to a used car at 10%+ apr.
  3. Absolute radio news this morning reported 'Fears' for the housing market. Newsreader used hushed tones. All blamed on Brexit. They then had an essex boy estate agent who said on the day of the brexit result the phones in his office were quieter that day. So there you have it. Brexit to blame for fears of the housing market. Good news though, Carnage will oversee a cut in interest rates.
  4. That could be valuable information to know before a public announcement.
  5. Prompted by your comment Ive done a bit of googling on her. Surprised no one has so far mentioned she is a BTLer. http://www.independent.co.uk/news/uk/politics/revealed-how-city-minister-andrea-leadsom-used-controversial-trusts-to-reduce-her-potential-9268469.html
  6. Landlord mortgages plummet by 85% after stamp duty changes https://www.theguardian.com/money/2016/jun/15/landlord-mortgages-plummet-by-85-after-stamp-duty-changes?CMP=twt_gu
  7. For the sake of accuracy I will point out it doesnt specify what benefits were paid out, could include HB also. All the same, it is pretty damning that his divis are similar in the amount of state subsidy to his employees.
  8. Thanks for that, i had a brainfart! (Can i blame my hayfever for causing me a lack of clarity of thought?)
  9. There is no hard and fast definition of what we are to vote for, certainly in terms of what a brexit vote would mean. However to address the OPs query, its the Schengen agreement which gives free movement across member states. Bearing in mind DC would be negotiating on our behalf, and he's an inner. Also consider the following: DC stated immigration would slow down to 10's of thousands in the run up to the 2010 election. He was always going to fail as he cannot control EU migration, but he has failed to control non EU migration. In fact figures released by the ONS showed that in the 12 months to June 2015, net migration from non EU countries was 191k, compared to 172k net migration from EU countries. So, the aspect of immigration DC could have controlled he has ignored. Even if there was to be restrictions put on to UK entry / right to work for those from other EU countries, the evidence suggests DCs policy would be to make it a formality that they would be accepted. No wonder they havent defined what we are to vote for. DC wants us to wait for the result and then he can tell us what we asked him to do. DC is trying to create a "heads I win, tails you lose" situation.
  10. When one door closes another one opens. Hint: I guarantee you will see Gidiot standing up in Parliament boasting about the number of new business start ups. The sudden spike should provoke some thought.
  11. Income used to service greater (housing) debts rather than fund consumption?
  12. Sorry no, but I had her car towed away because it was parked on the road with no tax or MOT. She deserves everything she gets.
  13. This morning our neighbour has had an EA round. She is everything HPC despises. Bought for nothing more than 25+ years ago, in 2007 decided housing was free money so bought a much bigger house up the road on a 100% LTV interest only mortgage, and rented the first house out. All despite the fact she doesnt have a regular income, she does some home teaching - drama! (Another story, but i got her tax credits stopped when she moved her now ex fella in) Kicked the tenants out 2 years ago (bitch section 21'd them a few days before Xmas) and has spent the last 2 years renovating the house with no budget for the work. Thought she could just ask the bank for money for renovations and alas the magic money tree didnt oblige. Shes wrecked the house, ripped out its character, did the work without consent from building control (I might have tipped them off and tripped her up!). The EA has told her it will be worth at least 60% more than we paid in 2013. She is the living embodiment of everything that is wrong with the govt and BoE picking its winners. Thoroughly depressing. However, the deeds say I have a right of way to use her path all the way to the bottom of her garden. I might just have to walk up and down the path in my pants to drive the price down a little.
  14. Just an advert piece. The lowest headline rate.......... with a £1345 fee. Over the same 2 yr period personally i would be about £500 better off paying first directs 1.84% with no fee. But that doesnt matter, its about a headline and a bit of publicity. Edit: Before you break even paying the fee you have to be borrowing about 7 times the UK average salary.
  15. What a whiny f___ing loser. At £50k a year per house who needs a proper job? She clearly lacks the ambition to go for 20 more houses. This time next year Rodney..........
  16. Immigration only affect house prices if there is a mechanism for transferring numbers of people into demand for buying a house. It was straight forward before The poorest person got housing benefit and enabled a landlord to outbid someone buying their own home. Gideons changes to rules on BTL interest, stamp duty etc will surely mean the link between immigration and upward pressure on house prices is hugely reduced.
  17. http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12128905/Cherie-Blair-fires-first-shot-in-legal-battle-against-Governments-buy-to-let-tax.html Cherie Blair QC has launched a legal battle against the Government's flagship policy to increase taxes on buy-to-let investments, claiming it breaches landlords' human rights.
  18. I saw the beginning of an old HUTH over the weekend. I sat open mouthed as Moronic Martin re-enacted a classroom scene as both teacher and pupil. The teacher was asking the 'class' to calculate the profit on a development. The 'clever pupil' worked out it was £2.25m. Seriously, someone at the beeb should be shot for this. Edit: Ive had a look on the web to see if i could find a link to share. I didnt.... But i did find this heart warming story http://www.express.co.uk/life-style/property/74937/TV-star-is-200-000-victim-of-Spanish-property-swindle
  19. Ive just had a look on streetview at her premises. Obviously she is trading from home. It just doesnt have the appearance her market will expect if she wants to attract and retain new customers. Bins, junk and modified old banger on the drive, scruffy flag behind the glass of the window. Customers cannot access her door without navigating their way around next doors bins and motorbike. She will never grow a business from there. The market she is aiming at are all about appearance. I bet they wipe their feet on the way out. My guess is her only regular customers will be her friends with similar low expectations. Edit to add: this isnt meant as me being snooty. Merely an acknowledgement that her target market will be.
  20. She did a number of video interviews in which she admitted her work was as a self employed nail technician. The business turned over £150 per week, but all of that was eaten up in costs (websites are expensive apparently). The money to support her kids all came from maintenance from the ex and benefits. She reckoned she was getting £20k a year from those 2 sources (as her business income was disregarded). So, no she doesnt work damned hard for her money. In fact her 'work' has no impact on her income other than to qualify her for in work benefits. It would be interesting to know how many hours she actually works. Surely it cant take that long to revenue £150 doing nails. Edit to add link to one of the video interviews
  21. Employer NI contributions are paid on all earnings above the £156 per week threshold. You are erroneously suggesting that increasing the NMW from £6.70 to £7.20 will mean employers have no further incentive to offer part time work. In fact, a 16 hour NMW employee would have an increase in gross earnings from £107.20 to £115.20. Well below the threshold. An employee would have to work 23 hours for the increase in their NMW to mean the employer will start to pay any Ni at all. And remember NI is charged at a marginal rate, so even if the part time employee worked enough hours to break the threshold, the employer would not choose to reduce the number of employees as every employee has an NI free allowance. Why would they give more hours to an employee meaning they will pay 13.8% on every additional hour, instead of giving hours to an extra part timer who can earn £156 before they are liable for NI contributions?
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