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Caveat Mortgagor

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Everything posted by Caveat Mortgagor

  1. It seems that when the Inland Revenue work out your code and send you a coding notice, they dont send the matching correspondence to your employer at the same time. Ive experienced this dozens of times on behalf of employees who have a coding notice and think our payroll will have their copy. I've been told - I think this is bizarre but it would certainly explain things - that the employers copies get sent out in bulk every few weeks, whereas the employee gets their copy sent out immediately.
  2. West Mids -5.3 YoY of which -2.5% QoQ Suggests to me that the pace of the fall is picking up!
  3. Maybe the Mail should consider re-writing this piece and congratulate them on paying the highest price ever on their road. Why listen to the doomers who would have acknowledged that by 2010, the average detatched in Colchester was still 10% down on peak They may also consider another accolade as this very clever family paid only just over the stamp duty threshold, The Mail should be telling the masses of their pride at being the only houseOWNERS on the street to achieve such a wonderful feat.
  4. The better fed couple photographed have a joint net income of £3700. They live in a 4 bed house in the S.E. and pay less council tax than I pay in a 2 bed persimmon shitbox in the west mids! Their stated outgoings add up to about £2k per month, but no amounts stated for food and insurance. So theyve got £400 a week for food and insurance! And when I read about the poor souls who have to endure the never-previously-experienced hardship of cutting back so that Oscar can go to a £4k a term school, well I got my chequebook out, alas the sympathy piece didnt supply an address to send donations to. And to the couple saving for a deposit. Tough. If you have to spend 3 or 4 years saving the size of deposit you need you will be doing things the way they were done in more prudent times and you may also be saved from the financial suicide of buying into a falling market. We run 2 cars, we dont run up a credit card bill, yet we buy pretty much anything we want within reason and still save betweem £1000-1500 a month so that we can build a deposit. How hard can it be for people to work out their budget and understand that if you havent got the money you cant afford it? Maybe I've failed to take account of the fact these people dont have our simple tastes and thay also need to smoke, have expensive pub sessions, and can only cook processed crap in microwaves. Middle classes eh!
  5. Just got my response from Coventry City Council. All I can say is '******ing hell!' Interestingly they added this comment Please note that most of the information that you request is owned by the Coventry City Council and subject to copyright protection. Under the Re-Use of Public Sector Information 2005 Regulations you are free to use this information for your own use or for the purposes of news reporting. However, any other type of re-use under the Regulations, for example; publication of the information or circulation to the public, will require permission of the copyright owner and may be subject to terms and conditions. For documents where the copyright does not belong to Coventry City Council you will need to apply separately to the copyright holder. Edit: Just done some sums and research. (using number of households as shown on 2001 cencus - not exact but close enough!) The figures show the number of claimaints increased by 26% between 2006/7 & 2010/11. The amounts paid out in this period increased by 48%. As it stands, the 2010/11 amount is approximately £1000 for every household in Coventry. It was £683 per household only 4 years ago. Further Edit: 23% of households* claim housing benefit at an average annual cost of £4326 per claim. This is an increase from 18% of households claiming an average £3,693 in 2006/7. Interestingly the number of claimants seems to have reached a plateau. The number for Mar 11 is almost identical to May 2010. * Bearing in mind that the majority of houses are owner occupied, (I think i read somewhere a national statistic of 70%) I wonder how I can find out what percentage of rented houses are at least part funded by housing benefit? To do this I would need to know the percentage for Coventry. Anyone got any suggestions where I can find this out from?
  6. My initial instinct was to think 'is this the first stage of repaying profits but passing on losses?' Of course the gains would be fudged so that no--one actually gave anything back, but the parasites that have missed out on the 1 way bet get bailed out. Maybe this site is making me cynical.
  7. Had an illuminating conversation with a very old friend this weekend. Bright bloke, management accountant, but refuses to accept that property is overpriced. He earns just shy of £40k, his missus works part time not sure what she earns. Last year, they were paid £800+ month in tax credits!!! He accepts that it was absurd that they got anything at all, the problem is they got used to the extra spending power. He's told me that after paying the bills they now have £7 a month leftover. He will get a bit of breathing space when one of his loans is fully paid off in Oct. If interest rates go up first, he will go into arrears. There's been a huige party. Lots of people got drunk, they havent got the hangover yet, but it doesnt mean they wont get one. Whilst still under the influence they think they can ask any price they want. The hangover is getting ever nearer though.
  8. If you buy a second hand house you get a second hand car. http://www.bloorhomes.com/news/details/12365 Much better to buy a new house and get a new mini!!! I despair!
  9. So let me get this straight. The MP is paid much more than his constituents, and acknowledges this to be true. The MP cannot afford to buy a house. It is a natural conclusion that his constituents are in the same boat. MP comes up with a solution that would suit him, but his constituents can go fvck themselves. I mean its not as if he's supposed to serve them is it? Hope his mum and dad do one of those lend a hand schemes and they all get fecking burned!
  10. Perhaps it is to sedate rationality for those working in the public sector by providing large doses of effortless money.
  11. The role of the public sector is to provide services. Its role was perverted under the last govt and became a vehicle for creating jobs regardless of any benefit to society as a whole. We need to get back to the thinking that we only pay for public sector jobs in order to provide services, not simply for the creation of (non)jobs.
  12. Ok, many bought at peak. In doing so most will have taken on a 25 year commitment to repay a sum of money to live in their house. Guess what? Nothings changed. They are still encumbered exactly the same mortgage obligations they had 3-4 years ago, but those on trackers have had the added bonus of low interest rates which allowed them to pay off their debt quicker if desired. Its a sad fact that society needs fall guys like your friends who bought at peak. It needs them to tell people to beware of taking on too much debt, to beware of herd mentality buying behaviour. We need to see peopel lose out tolearn from their mistakes. But in truth, when they bought they took on a commitment to repay a sum of money. They happily entered that commitment. they havent lost out. Theyve got exactly what they signed up for - Diddums if HPI riches has eluded them!
  13. Gordon complaining about a race to the bottom is a bit like the International Olympic Committee saying that the mens 100m final is incredibly hyped and over in seconds.
  14. The bottom of the market always falls first. Are you looking at prices only in a higher price range and not seeing whats happening down below? How signifiacant will the earthquake in Japan be to the house you eventually buy? The bottom of the market must surely be badly hit by the lay offs at Honda. 2000 people there due for time off. They have a parts supplier in the postcode area I am looking at (CV5). Over the weekend someone who works there told me they are now doing 2 days per week for the next 2 months! Thats about 400 employees going through the pain again. When you consider this is on the back of a 3 or 4 month lay off in 2009, you have to wonder how many peoples finances havent fullly recovered from those lay offs and were already struggling with pay rises lower than inflation etc. There must be dozens of parts suppliers in your area that will lose overtime / move to part time working. Keep an eye on whats happening down below. This market will fall from the bottom. (PS I realise you arent in Swindon - I am suggesting there will be a ripple effect though)
  15. I think i've just seen into the future. We've had a long denial phase regarding houses being overpriced. Maybe the following comment from the OP on the DS thread is a sign of things to come FEFSTER By the way, house prices dropping are most definately a bad thing for me considering we bought in 2006. If prices were artificially inflated due to irresponsible lending by the bank then, but the bank gets bailed out by the taxpayer, that's all very well. What about me though? Is the government going to bail me out? Whilst I say 'tough shit buddy, you gambled and lost', I want to see more of this. Lots of this. Lots of anger about falling prices. Bring it on!
  16. Red, yellow or blue, every single one of them is a parasite.
  17. Japan just had another 7.4 earthquake and Tsunami warning issued
  18. Nice plan - and with the advent of the automated printed betting slips - which means they dont even have any trace of the handwriting of the person who placed the bet - it might be less risky to spend a few hours a week going to your local bookies and picking up discarded losing slips?
  19. Feck me. Lifetime to date you have accumulated £6k, and someone is going to give you 12 times that amount just so you will find another job and you think you have a problem. Welcome to the real world son. In the real world you have to protect what you've got. That doesnt mean making decisions on what to do with tens of thousands of pounds just so you can get a bit of dole. Sorry if this sounds harsh, but there are two kinds of problems, yours falls in the nice problem category. We might as well consider that the Barcelona manager has a problem for the second leg of their champions league game because they have a big lead from the first game, but he's not sure whether to rest Xavi, Messi, or Villa for the return. Man up and find another job.
  20. I read that last bit as....... Critics say such measures will save the few remaining financialy reckless first time buyers from their own stupidity in the short term, and benefit the whole economy in the long term. Those who benefit will do so at the expense of vested interest groups such as housebuilders and the banks.
  21. I believe Killer Bunny is due on Sky News this very minute!
  22. For those of you who tweet Joel Hills @joelhills view full profile → Sky News Business correspondent Halifax says house prices fell 0.6% in first three months of this year. At 15.15 I'll speak to the man who says market will fall 10% in 2011 Nice! Edit: Looks like his guest is Killer Bunny.
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