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House Price Crash Forum


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About Salsa

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  1. Maddog, I live in the area (Burnham) and have just moved rental properties, so I have a good idea. I would tell you to go for it now, theres a lot of haggling you can do. Top tip from the Estate Agent who moved me was that flats are going fast so holding price but any 3 bedroom properties are not going at all, so you can get them cheap. I don't think I even believe it about the flats, but with a budget of £800 theres quite a few decent new build houses (2-3 bed) in and around Cippenham/ Langley etc marked at £900-1100 I bet you could get one of them for the money you want to pay. If those locations arent too useful, I still think you should look at that price range. Just make sure you find a few suitable properties, then make plenty of low offers. You'll get something pretty decent I would expect. To give you an idea, the last place I had was on at £1500 originally and I got it for £1100 so theres a lot of scope for reduction....
  2. Thanks for these options guys, I'll take a look and see how I get on. As you can tell I am certainly not an expert, but I want to use these starting trades as a way to get some practice in - I've always found I tend to learn things much more quickly when I'm losing/ gaining money!
  3. Can anyone tell me the best place to invest some funds in regards to Oil prices etc? I saw some posts a while back that mentioned some places but I can't seem to track this down at all. I have a small amount of money that I wanted to get involved in a potential rebound in oil prices. I am happy to take a high risk with this money and so I was thinking of using IgIndex, as this gives me a nice highly leveraged position, and will maximise returns if oil prices head back to where they could be. Of course this is much more an all out gamble, so I wonder if there are other options for me. The other thing I worry about is the latest news of companies in this field going under - while I am happy to lose this money, I would rather lose it because I made the wrong move as opposed to the company going bust! Can anyone recommend somewhere good that I can put a small amount of money to give a highly leveraged return should oil head back the way it came?
  4. Well, on the last two places I said the same thing to the estate agent and it worked really well. I told them that my sister has a dog, so do you think the landlord would mind. I then said, I hope he says he wont allow it, because Id rather not have dog, but my sister might be a bit upset. For some reason this seems to have worked with them both so far. I'm not quite sure why, it seems a little bit backward really, but I guess they must think that if I dont like dogs and I dont mind this one it should be OK. I've also mentioned that I would be happy to pay a larger deposit but I've never had any deductions so far, and they seem pleased with that. Both places have been unfurnished, but this last one could have come furnished and he would have allowed the dog as well. Make of it what you will - I guess it might be slightly more difficult to spin into your story, but give it a try, you just never know
  5. I think its all covered above, but you should be fine. I have a dog, and my last 3 rentals have been no problem. This time round I've had to pay 2 times monthly deposit rather then 1.5 and they have made a point in the contract that they will check for damage specifically regarding the dog, but other than that no issues as I have good references etc.
  6. Today is the first time I have bothered to read this letter - I picked up on a couple of bits here. Am I right in thinking the following:- 1) Food, petrol, gas and electric make up less than 20% of the inflation basket. If that is the case what on earth makes up the other 80%? I know they have been changing them for a while now, and I have seen some of the posts about eating DVD players etc, but I was shocked to see these 3 main items could make such a small percentage of the basket. 2) The BoE has decided that inflation should fall as long as prices stop going up so fast, so they arent going to do anything to slow inflation down? I could have told them that - in fact, I think inflation will rise if prices start to go up faster. I'm not sure that helps too much, aren't they actually supposed to do something to at least attempt to control inflation? I only have a simplistic grasp on the economics side of things, mainly from what I have read on here. Maybe I am missing something, can someone enlighten me?
  7. I used to be a Mortgage advisor (although tied to one of the Building Societies) a long time back, I'm sure Remorseful can give a better insight, but regulations were so lax back then, you only had to cover a number of basic points to justify any sale. I know most of the time, my advice was good but my products were more expensive. Of course it was a 'sales' role so we had to push our products even though technically speaking it wasnt best advice. The most interesting thing was though, that every month there was a 'special deal' available for brokers. Essentially this meant, terrible deal for the customer, but nice fat %age for the broker. Funnily enough, these 'big fee' mortgages always seemed to be best advice month after month......
  8. I've not read all the posts here, but to throw my two penneth in. Having just been looking at houses for rent, I can confirm there are a lot more larger family houses on the market in the Berkshire area. The estate agent told me that there are a lot of families who cannot sell their houses and as such there are loads on the market right now. The one I agreed on has actually been reduced, due to the massive amount on the market. Apparently this is the situation all across the market. Allegedly 2 bedroom flats are gold dust, but I dont believe that for one minute!!!!!
  9. I'm getting the contract tomorrow, so I will know for sure then. From what I've been told I will have a 16 month + 2 month notice contract - this should give me the minimum 18 months I need plus some on top. Out of interest, does anyone know who has to appear on the tenancy/ be credit checked etc? I have a sister living with me (not the one who doesnt pay rent!), but I dont know how long for. I do not wish for her to appear on the agreement, and I also do not want to have any financial ties to her. Most of my family has a bad credit history, but I have a pristine one and need to keep it that was as a company Director - I do not wish to create any financial association with any of them. The letting company have told me they can do it without her on the agreement, but still need to do checks on her. I'm not sure if I'm happy with this, as she will not have any impact on the rental payment etc. If they credit check her at the same time as me, will this create a financial tie? I'm also not sure I want them to do it, as they will charge me for the priveledge of doing checks that I regard as irrelevant.
  10. Thanks for all the information people. I am pushing for the landlord to start eviction processes and the council will be informed of non-payment. Difficult times as of course we have the worried mother who thinks we shouldnt do anything to harm her. But I agree, the softly softly approach has not worked so far - time to let her deal with the reality of the situation, and the results of her actions. I'm not 100% happy with it, but I dont think anything else is going to help her in the long run....
  11. Thanks for the reply Johnny. To be fair to the landlord he has been nothing more than understanding through all of this - I feel it my responsibility to make sure he is fully covered. I am not overly fussed about the money owed right now, thats mine to pay as guarantor, but what I do need is as quick a resolution to this situation as possible - I do not want to be paying x months rent from now while eviction order goes through, then have eviction costs etc. Unfortunately, I must say I am now more on my landlords side than my sisters......
  12. I wonder if anyone knows anything about Guarantors rights? I am currently Guarantor for my sister who has been in a rental property for 6 months. She has managed to pay nearly 0 rent in these 6 months, and has in fact used all of the Housing Benefit money to fund her lifestyle. I am now in the situation where the Landlord is requesting that I pay the owed funds and that my sister leaves the property. The difficulty is that my sister will not take my calls or meet with me, so short of going to the house and physically removing her from the property I have very little way of getting her to leave. My landlord has agreed that if we can get her to leave tomorrow there will not be another months rent due, so of course I would like her to leave then. I have no problem with paying the landlord the money he is owed as he was previously my landlord and we have a very good relationship - hence the reason we managed to get to 6 months without any rent being paid.. Of course, I do not want to pay another months rent if I can help it. What can I do to get her to leave as her guarantor? I have accepted notice that the property should be vacated a few weeks ago, but of course that means nothing if my sister refuses to leave. I am very close to the point where I report my sister for non payment of her housing benefit, but this isnt going to help anyone. I would much rather pay the landlord up, get her out and then wash my hands of it. If we go through eviction order scenarios, I will be liable for more rent plus costs etc etc. Am I allowed to go round and move her out myself as guarantor, or are my hands tied the same as a landlord in this situation? A tough situation, and I can find no information on Guarantors rights.
  13. Thanks for the input D'Oh Yes I think you're right there - im viewing 2 properties tomorrow, to guage the current market. Both are definitely interesting although will have to be amazing for me to move so early - these are only the first couple I am viewing. One is a guy who has just bought a property as an investment recently - Im pretty sure I'll avoid this one. The other is someone who has had the property let for the last 5 years and is planning to continue as long as necessary - I've already done a check on Nethouseprice, and he paid a very reasonable sum for th house 8 years ago so I cant see him being in any trouble further down the line. I will take this one a little more seriously as I have less risk. If I like it I will write out a nice list of my requirements and see what he says - if he can meet them all I may go with it, if he cant Ive got a lot of time on my side!
  14. I've been given notice to leave my current rental property in June 2009, at the end of my recently renewed 12 months tenancy. My landlady wants to move in as soon as possible so if I want to leave before then I can leave immediately. I am intending to buy somewhere in between 18 months to 3 years from now (it will definitely NOT be 12 months), but I do not want to be continuously moving from rental property to rental property until that time. If I leave in June 2009, I am likely to have to move in July and then do a 6-12 month rental somewhere else before buying and moving again. I am trying to space out the stress of moving - once every 2 years is enough, having to do it twice in 6 months will be horrible! I have a number of options available to me at the moment, but if I do decide to move now, I want to make sure that I am covered. I am considering moving now so that I do not need need to move twice in the future in a very short period of time. Of course this backfires if I agree a 2 year contract and then get served notice 3 months in I would like this next move to be the last one before moving into my own property. My question is, how long a rental agreement can be drawn up at the beginning of the contract? If I could move now, and stipulate an 18-24 month contract this would probably cover me for as long as needed. If a contract is drawn up for 18 or 24 months, can I still be served notice by a landlord if their situation changes?
  15. I'm pretty sure that's the case. I would also be surprised if you need to give two months notice - it's normally one month on AST. If July works for you though, honoring the 2 months notice in the contract would be the 'nice' thing to do. I'm sure you will get more concrete advice later....
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