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r thritis

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Everything posted by r thritis

  1. So nearly half the portfolio is currently void. Suspect this landlord is rueing the day when that Inside Track leaflet dropped through his letterbox.
  2. Yeah - 'quality' is a subjective term. Anecdotally, I know several people up the swanney in the 400k - 600k bracket. It was not just the lower earning bracket that was the subject of irresponsible lending - it went right up the tree. Surveyors slapped breathtaking valuations on some properties when they were the subject of remortgages, happy in the knowledge that their valuations would never be questioned, as the lenders were desperate to lend to these A+ rated customers.
  3. For me its clear cut. It depends on what sort of person you are. If you value your word and integrity, then once you have made a deal, verbal or otherwise, you stick with it. If your word is worth nothing to you, then go ahead and cheat and doublecross. Would you feel good about it afterwards? I wouldn't.
  4. Agreed - nothing wrong with the concept of them, but spectacularly badly implemented to the point that they are worthless. The timing of their introduction, right at the top of the market is hysterical. Just as the market is collapsing with a heart attack, labour is kicking it in the goolies.
  5. To be fair (and I don't know why the hell I'm defending her!), her comments are taken a bit out of context in the banner headline. She actually says that affordibility wont improve this year. As nowadays, affordibility is taken a measure of the amount people can afford each month, she is probably right. However, its this ****-eyed policy of lenders dishing out mortgages based on "affordibility, rather than traditional salary multiples" that has got us into this mess in the first place.
  6. How dare you talk about my little Evvykins like that!
  7. What is the technical difference between recession and depression? Without a definition any comparison is pointless.
  8. There's always a reason why "it wont happen here". Just in the last couple of weeks I've seen this applied to London, Brighton, Oxfordshire... and now Scotland.
  9. Most of these 'huge' rates aren't what they seem. They generally contain a catch which usually involves you having to invest in a stocks and shares product as well. Agree though that they are desperately after money.
  10. Well I thought Evan was great. Good luck with the today program Evan.
  11. There really is a forum for everything isn't there. Stumbled on this HPC thread while pursuing my hobbies this morning: http://www.sheepshaggersforum.co.uk/crash.htlm ok I confess - made it up.
  12. Strangely, this one is in Wiltshire. Maybe a Scottish owner?
  13. Why fixed price? What's the point of stating that? If I walked up with 295K in cash, do you think they would say "Sorry - push off. Its a fixed price".
  14. The world is your lobster - 32 and no ties, no mortgage... Sorry to hear about the relationship breakdown but you are in an enviable position in many respects. Live cheap and don't rush into any commitments - financial or otherwise. Good luck.
  15. I've seen significant falls in the West Oxfordshire villages since the start of 2008. Prior to that there was a stand-off.
  16. All through the last 15 years they have just taken the easy option to deliver short term gain and ride the resulting wave of popularity. They have never had a plan for when the money ran out and trying to make one now is laughable. Darling is now talking about plans to lock the stable door when the horse hasn't just bolted, it was driven off to the nackers yard five years ago.
  17. Bounce!! How about that! Just a week after I posted this, Inside Track are stopping their odious seminars! There is a god. http://www.guardian.co.uk/money/2008/mar/0...oneyinvestments
  18. Interesting post. The forum does exhibit cult signs at times. I think it is important to the quality of the debate that these tendencies are resisted. Sometimes when an opposing view is offered, the poster is vilified and branded a troll on here, even if the opinion slightly deviates only slightly from the stock HPC party line. Many good posters who used to be on here who would add to the quality of the debate have gone as a result. Anyway it doesn't really matter, as we'll all be leaving for the planet Zog next month, where the prices only ever go down and Estate agents and BTL landlords have all been crucified.
  19. These incentives are getting ridiculous. At the end of the day these schemes get around the lenders attempts to lower their LTV. If the lenders are serious about this they need to ensure the surveyors include these incentives in their valuations, otherwise they are taking on hidden risk.
  20. I actually know of people who genuinely thought that they didn't have to pay it back. Much of the language used implied that MEW was free money - or money that you had already made. Terms like 'equity release' give the impression that your house has made this money all on its own and all you are doing is taking some of it out now, just like is was a post office savings account. The fact that you suddenly owed a whole lot more was somehow masked by the still affordable monthly payments - a result of steadily lowering interest rates. Only when interest rates start climbing again does it suddenly become apparent how deeply you've dug yourself into the do-do.
  21. They dropped off a cliff (much as now) after the govt changed the tax rules for couples. This change to MIRAS was blamed for the crash, although it was only the trigger.
  22. Thanks mate! I must admit, wasn't expecting to be mugged for that one.
  23. It is true this is a horrible situation to be in. There is nothing worse than spending all your disposable income on a poxy house thats falling in value every week. It just seems like there is no way out. Many will just hand in the keys to the lender. Others will sit tight and ride it out. There will be a culture of blame directed at the labour government. There will be mass discontent and the govt will fall. We've been here before and not very long ago, but this memory seemed to have been erased from the collective psyche.
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