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Everything posted by exiges

  1. http://www.bbc.co.uk/news/business-16703084 The government savings body, National Savings & Investments (NS&I), has cut the interest rate on its main savings account, the Direct Saver. From 25 January, the annual interest rate will drop to 1.5% from 1.75%. NS&I said the move was deliberately designed to make its account less attractive. The body said that it had a government target to raise £2bn from savers this financial year, but it has already raised £4.8bn. Jane Platt, the chief executive of NS&I, said it was necessary to stem the excessive inflow of funds from savers, and she expected the end-of-year figure to have fallen back to a surplus of £4.5bn. "Since November we have seen an increase in customer deposits," she said. "This has been driven by a relatively small number of savers depositing large amounts of money, particularly into our Direct Saver account. "We have also seen a decrease in the number of customers withdrawing their money from products across our range," she added. NS&I said it thought that instability in global financial markets since last autumn had persuaded some of its customers to see it as a safe haven and put substantially more into their accounts, while also refraining from moving existing money out.
  2. Nonsense thread. You think with all their money that MPs wouldn't take advantage of lower house prices ?
  3. How does the economy benefit from cheap holidays in Spain and cheap imported tat ? Conversely, a weaker pound boosts exports and tourism for those much need jobs. It's no good having high rates to bring prices down, when servicing the debt would be the same as low rates on a high amount.
  4. We need to evaluate people's requirement for a council house on a yearly basis, if their circumstances/income has improved, their house is made vacant for someone more needy.
  5. How do you end up with a country house worth a small fortune ? Buy a country house with a large fortune.
  6. I visited Sweden last year, and while chatting to one of our guides talk turned to the economy.. it turns out they had exactly the same problem that we have, in that benefits were so high that there was no incentive to work. Only in the last year or two have they done something about it to stop the abuse.
  7. Historical reasons ? They used to build trains there. http://www.mkheritage.co.uk/mkm/wolvwork1.html
  8. Tax credits ! You get them if you have no income from your savings. I'd imagine you qualify for next to nothing. I know there are costs in owning compared to renting, but we've been very unlucky with our landlords wanting us out every 6-12 months, meaning we've had to pay £1500-2000 per move.. that certainly racks up. That plus we need our son in school means we've bailing out of STR this week
  9. Anyone who bought in the mid-90s will be doing very well. A £300k house now in 1994 was about £100k then.. Compare renting with a £90k mortgage, and they've had serious spare cash to make overpayments. I was very lucky to make my purchase in 1994, age 24 and half.
  10. Depends where you mean, Northamptonshire (and anywhere commutable from London) is holding up annoyingly well
  11. It depends on what rate you've agreed with the bank. There are plenty of BTLers out there on ~2% which means for the average £150k house, they're paying £250 a month interest, but bringing in £700 a month in rent. Unlike shares which can go down to zero, a property will always have a rentable value.
  12. It made me wonder, what with savings rates at stupid low levels, yet mortgage rates not commensurately lower, surely the banks are "coining it in" compared to pre-crunch time. From what I gather, they all paid back the money they borrowed as part of the Special Liquidity Scheme very easily, indeed some ahead of time, which suggests they're making lots of money. I'd imagine part of this process of ZIRP is so that the banks can fill their coffers again so that at some point Mervyn can raise rates without the world coming crashing down.. So, question is, how leveraged/liquid are the main banks these days ?
  13. Same here. We'll see some drops, just not large enough to make a difference. Another 5yrs of -0.3% drops.. Life is literally too short.
  14. Not when the new arrivals to the country are happy to live at maximum (and then some) occupancy.
  15. Except most of the £3m+ houses in London are probably owned by non dom tax dodgers, so nothing to be gained there. There is already a banded tax on the value of your property, called council tax. Ps. Vince cable is an idiot
  16. Very good point, what was their standard of living before they made iPhones ? Sure, their conditions seem a little bleak compared to Western standards, but surely they chose to work there because it was better than what they had before.
  17. Because; 1. You might get lucky and land the fool that simply must have it 2. You can't sell a house if you have none to sell 3. Hopefully you can gently encourage them to lower their price without losing them
  18. Todays was a good one. They had a dentist working 2 days a week, he was charging the NHS £140,000 per year.. nice earner when having 5 days off a week. That clearly wasn't enough, so he started double charging for the same work, and was overpaid by some £300,000.
  19. Does anyone watch this ? It's not one for the hypertensive. The normally ethnically balanced BBC seems to report daily on Nigerian / Somalian / Lithuanian "families" that put in claims for child tax credits, living allowances etc. Today it was a couple of Nigerians claiming for 19 children, 16 of which didn't exist. This helped them buy 4 houses. The govt. tried to deport the man (who originally arrived 20yrs ago on a 6 month visa on the order that he wasn't allowed to work).. but he claimed that it would his affect human rights to a family life, so he was allowed to stay. The level of fraud was over £100,000 Yesterday, the Lithuanians had another clever scam, they would ship women over from Lithuania, register themselves and their children, then go back to Lithuania the next week. En masse. These Lithuanians would then put in to be accommodated, which naturally they were, but of course they women had already gone back home, leaving a nice empty house to sub-let. It seems only when these fraudsters push their luck to ridiculous levels that these get flagged up. Nice one Gordon.
  20. There's a few important "ifs" there. But yes, that's alot of house for the money, compared to other stuff out there. Garden ?
  21. OK, so the public sector have had pay freezes of late, but that'll soon come to an end, and then you'll have millions of people enjoying CPI pay rises (in addition to those on benefits etc who have mortgages).
  22. Nope, just recycled crud from last year (as per the Count's thread)
  23. Indeed. I regularly have people coming to me with business ideas for internet companies. First question I ask, "How are you going to market it ?". Unless it's a very niche site, getting the word out to millions doesn't come cheap. Selling tat on eBay doesn't count.
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