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Caveat Mortgagor

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Everything posted by Caveat Mortgagor

  1. +1. A true conservative party would concern itself with supply side measures, Gidiot is playing with demand management.
  2. Just got a significant reduction. Rachman and Mrs Rachman (both teachers) wanted to up our rent. I had to cause a bit of upset and stamp my feet. Mrs Rachman left in tears and we had knocked £150 a month of the rent - now £500! This is not a normal case though. They didnt sort the house out before we moved in, the inside was like a building site, outside was overgrown and needed painting. We've put in a lot of work to sort stuff they promised would be done before we moved in, and then later promised would be done soon after we moved in. I think she's got a f_cking cheek starting to cry because the uppity tenant didnt want to open his wallet and give her whatever she demanded. Apparently i was supposed to feel sorry for her, she gave a "we're hard up" speech, even though they both teach, they have 4 houses and 3 cars! It angered me that before coming round she had spoken to a friend who is leaving her husband and taking the kids - apparently she offered to pay more than we had been paying and for a longer tenancy. The thought of funding a HB claim to outbid me on my own home....... aaaaargh! Anyway, the pair of them are complete f_cking amateurs, i havent done with them yet. When we are close to being ready to move out I will educate them on the landlords responsibilities under the Localism Act (2011). They will really squeal about being hard up before I've finished with them.
  3. Just downloaded pdf from cov city councils website. It seems to me (and if anyone wants to check this cos it looks extraordinary) that the costs in 2011/2 were as follows Fund contributions for non-teachers £21.7m fund contributions for early retirement (non teachers) £5.0m Fund contributions for teachers £14m Fund contributions for teachers (early retirement) £2.6m Increase in deficit for teachers pension £32.7m So, in a city of 120,000 households, a contribution equivalent to £350 per household is only enough to leave a hole in the finances of a further £275 per household. Just for the pensions. Oh, just realised there is no note on the deficit of non-teachers pensions. Of course all this is small beer compared to the housing benefit bill of £120m!
  4. The only glimmer of hope is that the general public dont really understand what drives price increases or falls, I wouldnt worry about them holding out. My guess is the average Joe has his beliefs formed by the media, but may have got a bit fed up of hearing 'prices set to soar' for the last 5 years and yet it hasnt happened. So whilst Help to Buy is the one thing we on these pages fear, maybe the people who could benefit wont understand and wait around for it. Another note on help to buy, I am hoping it will help second steppers who bought in 2005/6/7/8 to be able to move and accept a bid on their house that reflects a fall on what they paid. There must be a huge latent demand to move from these people, and maybe HelpToBuy can be the vehicle to let starter home prices fall so that ftbs can afford them. That's certainly what I am going to tell people.
  5. A bit of balance - this Aussie guy works in the media, this sort of thinking wouldnt be allowed at the Beeb, Wail or Express! Sick and tired of chasing dreams of finding a home Date April 5, 2013 Tom Whitty Frustrated, outraged and saddened: Generation Y is blaming baby boomers for their housing market woes. 'I'm tired of the weekends spent travelling from one underquoted property to the next, only to be left feeling like and idiot when an auction opens above what would have been our final limit.' 'I'm tired of the weekends spent travelling from one underquoted property to the next, only to be left feeling like and idiot when an auction opens above what would have been our final limit.' Oh man, I'm tired. I'm tired of the endless emails from my ever-optimistic girlfriend. The ones with links to real estate listings of rundown, two-bedroom, inner-city dives that neither of us really want to live in and, together, we can't actually afford. I'm tired of the weekends spent travelling from one underquoted property to the next, only to be left feeling like an idiot when an auction opens above what would have been our final limit. I'm tired of the car trips back to our rented home, with my hopeful girlfriend talking about how the next property might be the one where we can raise some kids together. I'm tired of explaining to my peers how negative gearing works, and then explaining why allowing investors to speculate on the housing market is to the detriment of our generation. I'm tired of the politicians who have consistently avoided addressing Australia's housing affordability issue over the past decade. I'm frustrated by the affordability studies commissioned by the government that recommend an adjustment or cessation of negative gearing, only for the same politicians who commissioned the report to ignore these recommendations. I'm bemused by the existence of the Foreign Investment Review Board, and the government's argument that ''foreign investment in residential real estate should increase Australia's housing stock''. I understand our politicians' motivation for not wanting to improve affordability, but it doesn't make it any easier to accept. On the one hand, you have young first home buyers who are somewhat naive, attempting to enter the housing market with huge mortgages without questioning why owning a modest home is near impossible in this city. On the other, you have an ageing population that needs to retire. If the value of their biggest asset goes up when they sell it to downsize, they have more dollars to fund their retirement. These baby boomers are also likely to be investors, and taking away the tax breaks that come along with speculating on the housing market would inevitably lead to backlash on election day. You have to ask, if those being duped are too naive to complain, and those profiteering are too valuable to upset, is housing affordability a problem for our politicians, or a gift? I'm tired of the subsequent lack of enforcement of regulation in the real estate industry. I'm tired of the sharks and the spruikers and the snake oil salesmen. I'm tired of the media coverage of this issue that consistently goes to these same people for ''expert comment'', and I'm sick of reading about how the market is about to ''pick up'' and that ''now is the time to buy''. I'm outraged when I read the occasional report that goes so far as to make the argument that those of us that belong to Generation Y (the renting generation) are too greedy and lazy to know what's good for us. The irony of such a statement is not lost on me. I'm saddened that both my girlfriend and I will have no choice but to work well into our 30s so we can squirrel together a deposit for that two-bedroom dive she's so sure is just around the corner. I'm saddened we are being made to delay starting a family, when it's all she wants. And I'm saddened that so many people who are approaching retirement will react to this with a ''cry me a river'' statement, when they know full well they never had it this tough. I'm tired, and I want to rest my head on a pillow on a bed in a home my optimistic girlfriend and I can call our own. I'm tired. And we haven't even had kids yet. Tom Whitty is a TV producer and freelance writer. @twhittyer Link to article
  6. As an outsider living here, i can confirm the locals like their concrete. There is an area called Coundon which Mrs Caveat calls the concrete jungle. Everyone has got rid of the garden to have room to park three cars. In fact if i can be bothered to find a link, there was a story in the local news about a whole estate of newbuilds in Daimler Green (Yep, depressingly it used to be a factory, now its new build housing - aaargh!) where the buyers had paved over their gardens and were then told they had to change it back as in the deeds it said the gardens should be left. Something to do with flood risk. Any reasonable person would think it would be good to see some greenery restored to the area, but the locals, even people who didnt live on the affected estate, were up in arms about being deprived of concrete.
  7. Initial asking price here (Coventry) is disconnected from reality. Houses that sell for £120-125k usually come on to Rightmove at £160-165k. But for everyone that drops the price and eventually sells below the stamp duty threshold, there are 15 or 20 that knock only £5k off and remain unsold for 2 years
  8. Land Registry ‏@LandRegGov Our February HPI shows a monthly increase of 0.2%. Average house price in England and Wales at £162,606. Full HPI out 28 March Note, last months figure was £162441, I make that a 0.1% increase
  9. Just seen this tweet by Land Reg Land Registry ‏@LandRegGov Repossession volumes will be included for the first time in our monthly HPI report due out on Tue 29 Jan #opendata
  10. Yep! Was told cannot do faster payment today, money would move tomorrow.
  11. Inflation alert! When I was a lad, there was a saying that people like this were 'ten bob millionaires'. Legal precedent now suggests that should be revised to 'thirty quid millionaires'!
  12. Under 40s are hardest hit by the housing bubble! Can imagine such a policy would bring many complaints on these pages about it being a policy to ensure no-one in parliament ever addresses the insane cost of housing!
  13. My wife worked in a finance office for a school until about 3 years ago. Stories such as this are more common than you would think. Inset day - they regularly needed a big room to get all the teachers together, and they also needed catering facilities. Solution? Off to Coombe Abbey for the day, and hire in external caterers. Why couldnt they have used the FREE school hall and asked a couple of the canteen staff if they wanted an extra days work?
  14. Someone will know the legalities much better than me, but could you follow an argument of 'unfair terms & conditions'?
  15. Harriett Baldwin ‏@HBaldwinMP Labour's tax cull of millionaires also in the @telegraph Link tweeted by stupid woman Two-thirds of millionaires left Britain to avoid 50p tax rate.......... Nick F ‏@CrookedRed @HBaldwinMP So 10,000 millionaires went abroad; absolutely no-one employed tax avoidance measures. #youwouldhavetobesimpletobelievethis
  16. So, we were wrong all along. The problem is deposits, as they keep telling us. :angry:
  17. Of course, the marginal rates would not be so high for so long if the benefits were not so generous. The flip side is that if your business takes time to be successful, the generous benefits you receive will buy you more time to make it a success. All you can do is observe the rules and make them work for you.
  18. Get a pimply 20 year old with slicked back hair to pay you a visit in his liveried Mini. You could add a couple of noughts to the numbers generated by the other more sensible options. Of course, if you dont like the figure they quote - you cant just give it away, its your pension - you could rent it out instead!!!
  19. Those poor fifty somethings unable to use their huge sums unearned equity as a deposit on an interest only mortgage. The younger generation can only dream of the opportunity these people had of buying at 3 - 3.5x average earnings.
  20. In my experience, Agents are weasels with limited intelligence, and poor negotiating skills. If they think you are a walk over, they will confidently ask you for an increase. If they think you will put up a fight, they will avoid the hassle, and pick on easier prey. If you go to them and offer an increase, its my belief they will see this as a sign of weakness and will want blood. I would let sleeping dogs lie, but if you have to contact them, ask for a reduction, if nothing else, it should keep them off your back for a while.
  21. Note how Ian McKenzie says he didnt know who his landlord was and wouldnt have rented the flat if he had known. He is a simple well meaning guy who rented from an estate agent. For my money he is playing dumb. Deliberately says estate agent instead of letting agent because he doesn't know about this sort of thing. Reckons that as soon as he saw Linda Riordons name on his post he put 2 and 2 together and contacted IPSA. Its a shame he didnt have the same clarity of thought when he looked at his tenancy agreement and saw her name and Halifax address. I wonder why a woman who lives in Halifax (who just happens to share the same name as the MP for Halifax) has a flat to rent out in Posh London?
  22. Row 2006 - Current asking is 19% less than 2006 selling price Row 2002 - Current asking 7.5% less than than 2002 sold price price
  23. Soooooo, Average monthly income is almost exactly £1500!!!!! Can this be true. It doesnt seem a lot - my initial instinct was that it excludes benefits, but no they are included. Take away £730(something like that) for average rent minus (lets say) £130 for council tax And the average gas / elec bill is about £110-120 per month Water rates another £40 a month So for fags n booze, sky, iPhone contracts and diesel petrol...... oh and food........ the average family (of renters) has less just over £100 a week. How on earth do they make the monthly repayments on their (average household non-mortgage) debt of £5949? No wonder those canny 'homeowners' with their sub 3% mortgage debt look down their noses at us!
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