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Posts posted by Sparkey

  1. This has always been the case. Not sure why the Daily Mail is making it appear that it is a recent development. Section 75 means that the retailer and credit provider are jointly liable if the product purchased contravenes any consumer legislation (Sale of goods act etc) by being faulty/not as described etc...

    This applies only to accounts which are subject to the Consumer Credit act and generally for purchases over £100. This means that items purchased with credit cards/ Hire Purchase agreements and store cards generally qualify. It does not apply to debit cards, however, since these are not a form of credit. When using a debit card there are other schemes (such as Visa chargeback), though these are not usually as comprehensive as Section 75.

    Another caveat is that it only applies where the credit card was debited by the retailer directly. In circumstances where a 3rd party took payment on behalf of the retailer (e.g. travel agents, paypal etc...) then section 75 does not apply.

    In short - if you want an additional level of protection when buying goods, always use a credit card (but pay it off immediately to avoid any interest accruing!)

  2. The nonsense is flowing from them like it is 2007 all over again! Apparently our tiny 'dining room' which used to be the back parlour is now a 'snug' :blink: Our landing is now 'versatile office space' and our grotty gravel covered, weed ridden garden is 'low maintenance'!!!

    I think the best "description" I've seen from an EA has to be the dining room being punted as an extra bedroom, that really makes me laugh!!

  3. I have just seen on the Sky ticker this...

    "Unite Union: Computer firm Hewlett Packard to axe 1300 UK jobs."

    No link as yet.

    I'm an HP employee, and just got the email this morning. Most of this announcement stems from the recent acquisitions HP has made. They use the "economically challenging environment" as an excuse to slash the employees of companies they have recently acquired.

    To prove my point, the numbers they have published are as follows:

    Technology Solutions: 93

    EDS (Acquired in 2008): 1151

    Global Functions (admin): 55

    On a separate note, there are 1000s of HP employees (myself included) woking on central government public sector projects, so I'm fully expecting this to be just the tip of iceberg! At the moment, my job is the only thing stopping me from emigrating!

  4. I was looking at a house which states this and I thought what is the point? This is in Swansea and not central London.

    In a 1,000 years the place could be beach front property with global warming or it could be under water or it could have been nuked.

    I know nothing about leases so is this common? Why not just sell the freehold?

    An example could be properties advertised as "Share of Freehold". If you have a share of the freehold, you must still grant yourself a lease for the property you are living in. Most people just grant themselves 999 year leases, because it means they don't have to worry about renewing it again.

  5. Mods- if it's in the wrong section can you leave it for 24h to get some exposure and replies please?

    A mate and young family have put in 3 offers on an overpriced house and have come up to 90% of asking.

    It's in an area which historically hasn't done much in recessions or exploded in value in booms (comparatively) so it's more stable than your average city centre ghetto.

    The offers were rejected with the sellers wanting to sit it out and see if they get a higher price.

    What would the HPC massive recommend as a course of action with the focus on getting this house as a long-term family place.

    All I can think of is getting some mates to go view and lowball offer to make their offer look good.



    I'm in a very similar situation. The house i'm looking at has been on the market since March. I put in a reasonable offer (15% below asking) and was outbid by some plum. 3 months later, the plum pulls out because of "problems with mortgage financing". I did the honourable thing and submitted a new offer (slightly higher - this ime only 10% below asking). Got outbid again by another plum. Few weeks later 2nd plum pulls out because of "mortgage problems". I reminded the EA that my offer still stands and politely reassured her that I have an AIP in place and that we won't have any trouble with finance.

    The EA spent a considerable time trying to convince the vendor that my offer was reasonable, and that they should take it (I actually felt sorry for the EA at one point!). But vendor's wife wants to hold out for full asking price.

    Some people are just greedy..............

    Saw the asking reduced by 5% on Rightmove today ..... might have to give the EA another ring.

    If I was you, get an AIP in place, and make yourself look as attractive a buyer as possible. Keep reminding the EA of that. Then wait.

    If noone else shows interest, sooner or later they are gonna snap - especially if the negative sentiment keeps up in the media.

  6. Perhaps you would enlighten me then.

    You invest £1000. If the RPI is 5% on the day you take it out and 4% on the first anniversay. How much will it pay out.

    Depends what the RPI was in between. Assuming the RPI hovered between 4-5% and didn't change, you would be in for a nice healthy return after 12 months (4%+0.8% ish) .

    If the RPI started at 5% then went negative for the next 11 months, you would simply walk away with your capital + 0.8% after 12months

  7. But its not RPI + 1% its the increase in RPI + 1 %.

    The nice lady at NS&I told me that people were rushing into buying them recently as they were wrong in thinking they would get the current RPI + 1%. Plenty of mugs out there.

    I, along with a whole load of other people on this site, understand perfectly well how NS&I certificates are calculated. If some people are naive enough to believe that they will get the current RPI rate +1% for the life of the certificate, then they are likely to get a nasty shock at the end when their certificate matures.

    But there are equally those who fail to understand exactly what RPI is and how NS&I certificates make use of it to protect savings against inflation.

    And the window for those people to catch up has come ..... and gone .......

  8. If you are going for a high paying savings account why did you pick NS&I when RPI is falling and you will get zero linkage?

    RPI + 1% is still far higher than any savings account out there at the moment. While RPI might be going a bit wobbly right now, I'm sure the pending VAT rise will give a nice helping hand, without considering the other factors.

    1% return worse case scenario ... still better than 60% of savings accounts currently lingering out there ... so worth the risk in my view :)

  9. Personally I would stash it into the highest paying savings account you can get.

    I'm in a similar situation. Got 50k of cash. Managed to push 30k of it into NS&I certificates back in April (thank god!!!) and the rest into a p1ss poor instant access savings and ISAs (3.1% was the best rate i could find!).

    A lot of people get twitchy about inflation taking a bite. Inflation is only a problem if the price of item you are saving up for (e.g. house) is inflating.

    We've all seen whats been happening to HPI over the last couple of months .. and it don't take a rocket scientist to predict what's coming next......


  10. There does seem to be significant confusion about how they calculate what you get back each year. As I understand it (having just spoke to them) you simply get the annual RPI as published on the anniversary of your purchase (plus of course any bonus; currently 1%). i.e. simply the total inflation experienced during that year. It is not the difference in inflation figures. However if inflation is high today because of a temporary, monthly, big blip in last month's figures then as that blip works out of the figures (just in time for your rate to be calculated in a year's time) then you will see a negative hit to the figure you get (this is why some people invest over several months, rather than one big hit to smooth these effects). Otherwise, just because annual inflation is high today, this does not mean that annual inflation will not be high next year too - unless, of course, something is actively done to manage things (figure manipulation or higher interest rates) or the economy genuinely goes into some deflationary phase. This is just my understanding and I could of course be totally wrong.

    Agreed. This is pretty much my understanding of it too. Not sure where people keep getting the "change in RPI" thing from.

    Seems pretty clear to me.

  11. If you believe a further crash ( eg steep correction ) is a nailed on certainty then you must surely need your head examining.... I have long held that prices will correct against the key measures but over quite some considerable time, and I am personally of the belief that many have some kind of irrational belief that the market will correct like it did last time, that it will overcorrect like it did last time, that buying opportunities will emerge thick and fast like they did last time, that they'll have their chance etc etc etc ... well I'm sorry its just not going to be like last time..... any look at the passgae of this one will tell you that, any look at the respective position of interest rates will tell you that, any look at the different behaviour of banks this time around will tell you that.

    You can follow the HPC sheeple if you like and going on doing the little rain dance for the mother of all crashes but if you fail to recognise that there are other quite likely scenarios then you can only be a barking loon with a very very closed mind... I at least recognise the crash scenario is possible I just don't back it.. you appear in the dark ages, able to believe in little else.

    Ahhh I see now .... of course ... it's DIFFERENT this time!!!! Every other crash in history must have been influenced by different forces!

    Damn ... looks like i've been waiting for nothing :lol:

  12. Do you believe the rest of the world is wrong as well though? We'd have fewer graduates than Turkey and Mexico for example. Do we live in the sort of country that needs fewer graduates than Turkey and Mexico? Serious question.

    How many gambling studies or hairdressing graduates do you see in Turkey and Mexico ?

    The problem lies with Labours pledge to get everyone into university. Lots of people are studying crappy degrees that are not worth the paper they're written on. How about keeping universities for ACADEMIC courses only (science, engineering, proper arts and humanities), and scrap all the non-courses (hairdressing/gambling studies / drama with cooking etc..) . Only the brightest people should attend university and they should be state funded; not every idiot that wants to do a crappy course because they get guaranteed a 1st or 2.1 just for turning up. There are dozens of vocational courses for other people to do at a local level instead.

    Who knows .... if they did that, maybe a university education would be worth something.

  13. Hi

    i have a family member through no fault of their own is going to become homeless.

    they are only 18 years of age and earning very little. sensible pearson training for a job, no kids.

    now an example of a 2up 2 down terreced house in a reasonable area (this is in the north remember) were selling for about at the peak for about 80-90 K

    i looked about, and called a few estate agents, and one told me (a friend'ish, if you can have estate agents as friends) of a house in the street where they were selling for 70-85K at peak, that there was a desperate seller, who bought the house cheap 6 years ago and is in perfect condition, needs nothing doing. ready to move in, and the reckon they would accept 50-55K so this is a really big drop in price

    now yes i am thinking of buying it outright and they will qualify for housing benifit, so I will become a BTL amateur landlord. plus also seriously help a family memeber in need that should not be put in this postition at their age

    whould anyone else do this or think it is a good, or stupid idea, or think it would fall much more as it is already some 35 % from the peak..

    thanks for reading i would really like to know what people think

    From what I understand, if you live in a property owned by a family member, you do not qualify for housing benefit.

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