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dannyblue

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About dannyblue

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    HPC Newbie
  1. dannyblue

    Stock Investment Ideas For Uk Equities

    Take a 2-3 year punt on Progressive Digital Media (PRO on AIM) with a target of 40-50p Founded, run and largely owned by the man who sold Datamonitor for £500m in a debt-financed deal 2 weeks before Lehman Brothers.
  2. Nothing personal at all Bosh, and I haven't read your posts, so please forgive me, but merely thinking of the amusing logic of your signature...Yesterday's nut that held its ground could just as easily be today's squirrel shit
  3. dannyblue

    West London Lunacy

    That fits. Two friends of mine, Anglo-French with excellent jobs, have just had a baby and were looking around there for the Lycee. They expect to end up in Maida Vale though.
  4. dannyblue

    West London Lunacy

    "are there that many people out there who are happy to pay above 2007 levels with finance in place and are these people checking sold prices or do the just not care!? If any one would like to let me know when the second phase of falls will begin it would be much appreciated" That sums up how I feel! Just have to hope I can wait for all these people to be flushed out before making my move and find somewhere to rent in the meantime.
  5. dannyblue

    West London Lunacy

    Obviously get a lot more the further you go out and you pay for being in zone 2, but still Shepherd's Bush, while I like it and have connections there, is hardly Hampstead. The HPI over just the past year is staggering.
  6. dannyblue

    West London Lunacy

    To put those stories of London house rises in context... A few weeks ago I saw a nice enough three bed, three storey house in Shepherd's Bush which went subject to contract at £650k within a week of being advertised at £675k. Last week an identical house, with a slightly nicer finish, two doors down, came on the market with an asking price of £699,950. I saw it on Saturday and planned a second viewing for yesterday. After being told through the course of the day that they'd already rejected offers from different people of £665k and £675k, I pulled out and cancelled my viewing. Today I found out they have had three asking price offers and were going to sealed bids. For comparison, at the end of last year two five storey houses on the same road (you can see them on the streetview across and a couple mouse clicks north from this one), went for £620k and £640k. They must have needed work because they're still being refurbed now, but they're a hell of a lot bigger. The increases on just this road are extraordinary. I don't understand the mania and just refuse to compete.
  7. dannyblue

    Making An Offer

    Consider that this 'other offer' may well be a myth. As a sales person I'd always reject the first offer with a 'no' to test resolve, and I'd always infer that there was competition. I would suggest letting them know your original offer will stand for a week and will then be withdrawn, that it won't be increased, and that you're continuing to look at other places that you like. Let them know they're competing for your money, rather than letting them think they've made you feel that you're competing for their house. Of course if you do decide you want to up your offer you always can later.
  8. Come on, what are you HPC STRs doing now? House prices still high but inflation looming… Buy property now even though you believe it to be overpriced by at least 10%? See your stash eaten up by inflation / falling pound while you wait for house prices to fall when interest rates go up?
  9. Yes would be interested in an answer to this. About to be made redundant and after having paid six figures of tax over the last 10 years of work wouldn't mind getting some back now my income will be zero. Theoretically would this work? Could I get an offset mortgage, hide my savings in it so I qualified for JSA, then take my savings out, so that I qualified for MSI on my interest repayments? (http://www.jobcentreplus.gov.uk/JCP/Customers/WorkingAgeBenefits/Dev_016128.xml.html) I suspect not, and don't think I'd feel right about doing so even if I could. But it does seem perverse that if I had been reckless, spent everything I earned and got a big mortgage (rather than saving and staying within my means), that I would have got a lot of government support when made redundant. The way I played it I'll get nothing. Ultimately of course the point of is to provide help to those that need it and deserve it, not those that don't need it (like me) but still.
  10. dannyblue

    What Would You Do?

    It's been on the market for 3 months. First two offers took about about five weeks to come, with about 4-5 viewings per week. They fell through, I then had only 2 viewings in next 4 weeks, the second of which became the third offer, which has been proceeding for a couple weeks before collapsing this morning. The buyer getting made redundant was just bad luck (and worse for her than me), the buyer who couldn't get the mortgage in the end basically couldn't afford it and shouldn't have made the offer in the first place so was just naive / a time waster. Turns out this offer fell through as the sale on a flat they'd missed out on collapsed, so they're going back for that, although dressing it up with conerns about the service charge level (although they knew that from the start). So...it's a popular place for FTBs and so there's been a good amount of interest, and I just think I've been unlucky. May change my mind if it happens again! If it hadn't valued up for the mortgage I'd have been more concerned...
  11. dannyblue

    What Would You Do?

    Thank you everyone. Consensus seems to be don't rush back in yet. Not sure what 'OB' or 'PM' are, but will read more HPC and learn I'm sure. Big plans about what to do with my time, and they don't need the money beyond keeping me fed, watered and sheltered...came on here interested in housing, savings and investment opinions. As will no doubt delight a few, my sale fell through this morning and I don't know why yet, so I'm staying put for now. It's the third offer that's fallen through: the first one ended up not being able to get the mortgage they thought they could get, the second one got made redundant the week after I accepted the offer.
  12. I'm in an interesting and fortunate position. The decisions I make now could set me up for life, or set me back to square one. While partly being selfish and wanting free advice, it also seems my position poses some interesting questions about the direction of our economy and what that practically means, what individuals should do about it. I have no dependents, and am not likely to in the next couple years. I've just paid off my mortgage. I've accepted an offer on my two-bedroom London flat (fingers crossed). I have substantial savings, largely in cash and non-sterling government bonds. I'm about to be made redundant (which I've been playing for and is very welcome - I strongly dislike my job) I don't want to stay in my industry so am unlikely to get another job quickly. In other words, after 10 years of hard(ish) work, by the end of August I should be homeless, unemployed, debt free and cash rich. My thinking has been... The economy is bad, I don't see the green shoots, we're massively in debt both as a country and individuals, we're printing money even thought the CPI hasn't decreased beyond the target band - inflation is on the horizon. The worst thing to have when there's inflation is cash. In which case I should spend my cash on an asset, which should maintain its real value even with inflation. And, ideally, I'd spend my cash on an asset I could use. Yet houses are still over priced: The average person on £25k can't get near to affording the average house of £150k, and it'll get worse with more job losses coming. While I expect property prices to go down, I expect them to go down less, in real terms, than cash and, at the same time, I need somewhere to live. So my plan is to spend pretty much all of my cash on a nice property to live in, and, potentially, with space I may be able to let out to provide me an income to cover bills and food. What would you do? (I don't want to live on a beach in the third world! Well, not for more than a month or so)
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