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undersupply

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Posts posted by undersupply

  1. As the title says.

    Want to work out what the price per sq. ft a property is worth.

    Also is it just the house or the total land?

    Is the house area 'X' price and the land area 'Y' price?

    Need it to calculate an offer I am putting in.

    Dont worry folks - I haven't caved in - the offer is 29% OFF asking :)

    As I take it youre scouse, somewhere between £150 and £200.

    This is from 2003 but you can update with the nationwide calculator ;)

    http://www.paverdownes.co.uk/downloads/resrev/resrev_2.pdf

  2. I have tried to post an excel worksheet that shows what I am talking about but it just isn't working. So. It all depends on the following variables:

    Value of morgage

    Cost of offset interest

    Cost of standard interest

    Value of interest on savings

    The tax rate you are paying (I thought it was a fixed 20% on savings but it seems like I might be wrong!)

    The ratio of savings to mortgage in relation all of the above

    But if you really want to save money the best bet is just to get the lowest interest rate you can and use your savings to lower your original mortgage amount. Its terribly old fashioned and it doesn't let you fiddle with the levers, which I think is the real attraction of these complicated mortgages, but ultimately, it is the best deal.

    Offsets tend to be taken with the grand idea of paying back early, but that relies on discipline. If you don't have a great track record for spending within your means then then really you are simply flattering yourself if you think that what you are doing is anything other than setting yourself up for constant MEW and constantly deferring the payment of the capital. They are a very convenient way to MEW (without seeming like your MEWing), but don't kid yourself that you won't pay for the convenience.

    KNOW THY SELF.

    DO THE MATHS

    Now I will stop lecturing and go away ;)

    Cheers for the help ,

    You are right, I want a lot of flexibilty to pay f-all until 2008 and then overpay as much as I can as my financial situation improves.

    :rolleyes:

    Have always been pretty disciplined with money, but don't like the idea of a fixed commitment(you guessed it, I'm a bloke) :lol:

    Any one who pays income tax at the top rate pays 40% on their savings interest, which is a total lead balloon.

    I take your point about the MEWing, although there won't be much E to W, will there? :lol:

  3. A couple of quick points:

    IF has a tracker rate of 0.74% above base rate, if you have a 20% depoisit or equitity to that effect. so their current rate is 5.24%. That changes the interest on the mortgage to £4192. You do the rest of the maths!

    You also need to add in all the arrangement fees (£199 for the IF mortgage with refunded valuation and remortgage legal fees).

    'Special' rates end and transfer onto standard variable, so remortaging to another rate needs to be included.

    Yes this is the one I was looking at,the IF tracker 80, discounted for 2 years, seems like a total winner to me, if you can put your wages into it, along with savings.

    I am self-employed, so my income fluctuates, and I have to save for tax, which could be offsetting my interest.

    Anyone know any other good deals?

    I imagine its a limited market.

  4. Can't see anyone paying more than £250,000 for it.

    Xil.

    "Refurbished to a high specification, with Limestone Bathroom and a good size Kitchen / Breakfast Room with built in double oven, automatic dishwasher , fridge and freezer."

    And they only want 100K for their efforts?

    Might put in a higher offer to secure it :lol::lol::lol:

  5. I did a brief analysis of my own situation at one stage taking into account

    Differences between advertised rates for offset and fixed mortgages

    Saving interest earned for non offset same savings at highest most common advertised rate less tax 20%

    And I came up with around 40%

    So you seem to be saying they are a good mortgage regardless of how small your savings are?

  6. These type of mortgages seem to be only recommended if you have a certain percentage of your borrowing as savings.

    I would have thought that any savings would have made these beneficial mortgages but some authorities say as high as 20% of your borrowing as savings is needed to make these worthwhile.

    Is this because the APR is typically higher on these mortgages?

    If you did have 20% does this make your monthly repayments lower or do they shorten the term of the mortgage.

    I've had a play with the Intelligent Finance offset mortgage calculator, but havent got all the answers from it.

    Can you take your savings out, ie is it like a current account or are there penalties?

    If you hypothetically borrowed £50k and put 50K worth of savings in the next day, would this mean you would have no interest to pay, only capital, or nothing whatsoever to pay?

    Any one smarter than me care to shed some light?

    Confused

    B)

    Undersupply.

  7. Quite right. But it's not a 'battle of the sexes' thread is it, it's the old 'we have nothing but contempt for women' thread from the more sad and bitter male elements on this site. sigh.

    Why are there more female millionaires in the UK than male?

    Because women earn more than men?

    Because women are more entrepeunerial and generate more wealth than men?

    Because men have to take time out of work to have kids?

    Or because women marry and divorce money?

    I ain't sayin she's a golddigga....

  8. These are EA lies. I have been told countless times by EAs and sales offices that almost all flats have sold, but the sales never appeared on the Land Registry. They are just lying. It's the oldest trick in the salesman's book.

    Not true mate, takes ages to appear on LR. my mate bought sept 10th, still not on LR.

    Also if someone buys off-plan with a deposit the EA wil tell you it is sold although it may not complete for three years and not appear on LR for another 6 months.

  9. Dear all,

    I first looked at this web site about a year ago as I was thinking of buying my first flat. A year on, I return to the website as I am once again considering buying, and am dismayed to see the majority of discussions are practically the same as back then.

    With the exclusion of some well researched and balanced contributions, the majority of the postings here are simply people gloating over any piece of bad economic news they can dig up.

    Today there was a thread about a survey on a website: 'will there be a total collapse of the housing market'. With glee contributors reported the results "69% Yes" .. "now its 72%!!!!".. These survey results I should add were based on a pole of 12 (presumably 72% visiting from housepricecrash.co.uk :) )

    What I find alarming is that most people on this forum seem to be looking forward to a devasting house price crash. Do you not think this would be bad for the economy? What about your friends/family who are property owners? Or people relying on the equity in their homes for retirement?

    I do agree that house prices are high and that people should think carefully before buying and indeed that in some areas and in some circumstances renting is best. But shouldn't potention FTBs be given the simple advice: buying a propery is hard - save, make lifestyle changes if necessary... waiting for a house price crash just seems plain lazy to me..

    Tim

    Can I convey my dismay at reading your rubbish post?

    Also my dismay that loser trolls like u Researcher 2000, and BHTFY can start threads straight after joining this forum.

    Is there a case for not allowing newbies to post for a week to stop the rot?

    TIM hasn't even logged on since his genius post and Researcher 2000 pulled a similar stunt, disappearing into the ether without ever producing his ahem research.

    I wouldnt mind if these posts were ignored but they tend to be highly subscribed which detracts from proper threads and reduces the site to a flame war.

    Any thoughts?

    No, not you tim.

  10. This is an on-going argument between me and the missus. In recent years , ive seen the financial difficulties my mother is going through (80,000 mortgage, interest only, no means of remortgaging as low income, 10yrs left, being made redundant) as a result of bad decisions, and a few other things that I wont mention. I dont ever want to be in that situation, and I'd like to be able to help her out of it.

    S Im trying my best to accumulate wealth, to play the system. Its not the be all and end all though. True friends, and family, are the most important things (oh, and health). I dont see the point in living a miserly existence if you cant enjoy yourself. IMHO you have to find a balance between mateirial well being, and spiritual well being (although the two can be interlinked). To what degree you attune the balance between these two aspects is of course entirely subjective.

    It is always a good idea to create wealth.

    Your circumstances may change in the future.

    You may need to pay for an infirm relative.

    This is not greed, just common sense.

    If you don't need your wealth you can give it away before or after your death.

    You can live frugally and still generate wealth, it is not a sign of greed on its own, a bit of a generalisation like saying all poor people are hippys or layabout losers.

    As Eminem says "Money is what makes a man not funny"

    B)

  11. The poor flat you mention above is now listed by Miss Forster as SOLD! The owner will be laughing all the way to the bank.

    Princes Road: 155k

    I waited and waited but none of you regular posters appeared to notice, so I was forced to end my days of lurking and join in. tut tut.. :D

    Bought on the 19th december 2002 for £27,000.

    Sold at 574% the price in less than three years.

    191% inflation per year.

    What a killing.

    Wonder do the new owners know :huh::huh:

  12. Mate you are pathetic and others can see that and are PM'ing me telling me to avoid rising to the attention seekers.......YOU are a ?????..............well i will not even go there.............because people like you love all the attention seeking backslapping that goes on these boards. I would love you to post on a 90% bullish forum and see how frustrated you get when people ignore your post but girly name call, and slag you for your sign in name. Lurkers must be SO impressed with your juvenile behaviour. get a life.........

    you worry me NOT one jot b/c i have no respect for bully girls like you. Until i am banned by a MODERATOR i will post on these boards when and how i please, because this is a debate forum. not a crash price cult. if you don't like that ......TOUGH!!!! And i am not complaining b/c i can more than stand up for myself with people like you..........

    So much viTRiOLL

  13. who was it who awoogaed? I awooga too. So sick of pointing this out to you trolls - 'bet you wish you'd bought 2 years ago' indeed! - haven't been able to afford to buy for years. Do you see - people can't afford to buy a home and that's been the case now for a good 5 years. If we could have afforded homes 2 years ago, we all would have bought them. Don't know how to say it any more clearly than that. Would-be FTBs are not people who have some principled objection to buying a home, no, they're people who would do so if they could. Do you understand? Homes too expensive - that is the problem. Der-brain!

    What Is A Troll?

    The term derives from "trolling", a style of fishing which involves trailing bait through a likely spot hoping for a bite. The troll posts a message, often in response to an honest question, that is intended to upset, disrupt or simply insult the group.

    Usually, it will fail, as the troll rarely bothers to match the tone or style of the group, and usually its ignorance shows.

    Why do trolls do it?

    I believe that most trolls are sad people, living their lonely lives vicariously through those they see as strong and successful.

    Disrupting a stable newsgroup gives the illusion of power, just as for a few, stalking a strong person allows them to think they are strong, too.

    For trolls, any response is 'recognition'; they are unable to distinguish between irritation and admiration; their ego grows directly in proportion to the response, regardless of the form or content of that response.

    Trolls, rather surprisingly, dispute this, claiming that it's a game or joke; this merely confirms the diagnosis; how sad do you have to be to find such mind-numbingly trivial time wasting to be funny?

    Remember that trolls are cowards; they'll usually post just enough to get an argument going, then sit back and count the responses (Yes, that's what they do!).

    How can troll posts be recognized?

    No Imagination - Most are frighteningly obvious; sexist comments on nurses' groups, blasphemy on religious groups .. I kid you not.

    Pedantic in the Extreme - Many trolls' preparation is so thorough, that while they waste time, they appear so ludicrous from the start that they elicit sympathetic mail - the danger is that once the group takes sides, the damage is done.

    False Identity - Because they are cowards, trolls virtually never write over their own name, and often reveal their trolliness (and lack of imagination) in the chosen ID. As so many folk these days use false ID, this is not a strong indicator on its own!

    Crossposting - Any post that is crossposted to several groups should be viewed as suspicious, particularly if unrelated or of opposing perspective. Why would someone do that?

    Off-topic posting - Often genuine errors, but, if from an 'outsider' they deserve matter-of-fact response; if genuine, a brief apposite response is simply netiquette; if it's a troll post, you have denied it its reward.

    Repetition of a question or statement is either a troll - or a pedant; either way, treatment as a troll is effective.

    Missing The Point - Trolls rarely answer a direct question - they cannot, if asked to justify their twaddle - so they develop a fine line in missing the point.

    Thick or Sad - Trolls are usually sad, lonely folk, with few social skills; they rarely make what most people would consider intelligent conversation. However, they frequently have an obsession with their IQ and feel the need to tell everyone. This is so frequent, that it is diagnostic! Somewhere on the web there must be an Intelligence Test for Trolls - rigged to always say "above 150"

    Who is at risk?

    Any newsgroup, bulletin board, forum or chatroom can attract trolls, but they don't have the brains to attack nuclear physicists, and they are drawn to the quick response.

    :D:D

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