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About Sweetkiwi

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    HPC Newbie
  1. In october 2008 (the time of Lehman Brothers collapse) we were in the midst of talking to the bank for a FTB mortgage, after our offer on a house for 275k was accepted. The bank valuation was 285k and we have 43% deposit, so we negotiated for IO mortgage fixed for 3 yrs. After putting down 43% deposit on the house, we have 30k left to renovate the house. Our idea of going for IO is to give ourselves more disposable cash. Today, we have saved 20k and reckon that we could reach 30k by next year when our fixed mortgage end. We will then be using those savings to reduce the mortgage.
  2. My friend told me .... There is a cartoon in a real estate agents office of an old bearded man, bent over a walking stick with the caption " The man who is waiting for real estate prices to come down".
  3. This is exactly what DH is doing and he just got his pay raise and bonuses, working for a technology company.
  4. In our area, there is a new development and so far, the developer sold 3 houses only. People already move in to those 3 houses. The developer continue to build despite of the poor sales.
  5. Today, we received letters from our bank joint account, offering DH £16k loan and me £10k loan i.e. total of £26k I torn it up.
  6. A Scottish family's dream of moving to NZ had crushed because the house that they bought in 2008 was valued 55k less http://www.bbc.co.uk/iplayer/episode/b00qgwjg/b00qgw91/Wanted_Down_Under_Series_4_Clelland/
  7. Lloyds to axe another 400 jobs http://www.independent.co.uk/news/business/news/lloyds-to-axe-another-400-jobs-1874647.html
  8. Energy firm E.ON to axe 800 jobs http://www.independent.co.uk/news/business/news/energy-firm-eon-to-axe-800-jobs-1873671.html
  9. oh dear, more jobs to go ........ http://www.independent.co.uk/news/business/news/aols-uk-boss-stands-down-as-thousands-of-jobs-are-lost-1866033.html AOL's UK boss stands down as thousands of jobs are lost The head of the internet giant AOL UK is leaving the company at the end of the month as it prepares to "significantly" reduce its British workforce and close offices throughout Europe. Michael Steckler, the managing director of AOL UK and Benelux, is the latest casualty of AOL's drive to save $300m across the globe by cutting 2,300 staff. The US parent company warned yesterday that it would have to lay off workers after a voluntary redundancy programme missed its targets. AOL said Mr Streckler was leaving "to take up new challenges" and his role would be taken over by Kate Burns, AOL's head of European sales, as part of a broader remit. She used to head AOL's social networking site Bebo. Last November, as AOL prepared to walk away from its disastrous merger with Time Warner, the chief executive Tim Armstrong said the company intended to save $300m by shedding a third of its global workforce "to ensure the long-term health of the business". AOL employed 6,900 people a year ago. A spokesman said yesterday: "The internet landscape has become increasingly competitive and we are making difficult choices to take costs out of the business and ensure AOL's sustainability and future success." AOL had hoped to encourage staff in the US, Britain, Canada and Ireland to take voluntary redundancy but only 1,100 applied and it believes it needs to lose about 1,200 more. The spokesman added: "At the time, we announced that if we did not reach the target reduction of one-third [of staff] we would need to follow the voluntary programme with involuntary action." AOL, which currently operates in 11 European countries, is preparing to shut its offices in Finland, Germany, Spain and Sweden, and is in talks about the future of its base in France. It is not clear how many UK staff will be affected. A spokesman said: "We will be significantly reducing our UK staff but will continue to have a robust advertising operation, as well as a consumer offering." The company is also closing an office in Seattle, Washington, and redundancies in the US will begin today. AOL's $164bn merger with Time Warner, viewed as one of the most disastrous tie-ups of all time, caused billion-dollar losses and led to thousands of job cuts at the combined company. The two formally separated on 10 December. Earlier this month, Time Warner's former chief executive, Jerry Levin, apologised for presiding over "the worst deal of the century", saying: "I'm really very sorry about the pain and suffering and loss caused."
  10. If OH took the car to work, it will take 40 mins during the peak hours. Off peak, it is just 10 mins drive to his office. Walking make him a happy bunny, kiss goodbye to the traffic jam. We keep our reliable bone-shaker for emergency use.
  11. Well done ! and well said .... "simple life" Once a week, we use our car to buy heavy stuff from the supermarket (we are in our 30s and do not want to break our back ) We are addicted to walking (the savings are use for mortgage redemption and holidays)
  12. http://www.dailymail.co.uk/news/article-1239325/Petrol-rise-15p-litre-Government-raises-taxes-motorists-pay-massive-debts.html We have just top up a full tank (106p a litre) and the petrol will last 3 mths Our green and healthy life-style started a few year ago ........ it's good for the body and wallet. We have been practically walk everywhere as much as we could, for examples : (timing of one way) 1) To work, hubby walks 20 mins 2) To the city centre, we walk 45 mins 3) To the nearest supermarket, we walk 30 mins 4) To the moor (for leisure), we walk an hour Did anyone do the same? (going green helps with part of our savings of 1k a month)
  13. The programme shows that catching up with the Joneses are so important and at all costs. Hubby has a good salary and I don't need to work (a kept woman ). Our philosophy is that if goods don't break down, we don't need to buy new one. We have a 9-yr old car, a 8-yr old home computer, a 10-yr old mobile phone (using prepaid card), a 7-yr old washing machine, a 7-yr old tumble dryer and a 8-yr old TV. Every month we save 1k to use it for our mortgage redemption.
  14. In 2008, we were worried that our rental will be reprocessed or sold (heard landlord had financial trouble), and that fear push us to buy a house. Now, we use the same rental money to pay for our mortgaged home, very happy
  15. Sorry typo errors, should be .......... * The bank own 44% of our house * Own a 9-yr bone-shaker
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