getknk

sorry must have clarified. Joe20K is 20000th person of the same type. Just extrapolating the case to larger number of users

Is there a good link/details of this into detail? (Let's say 12 or 20 year or lifetime). What you are saying is Bank is NOT happy even after reposessing house? My belief was that the "risk" was taken by bank in giving the mortgage based on the surveyor appointed by the "bank itself". So if the house price when bought was $600K, but the house value now is £400K, that difference of £200K is on the bank?

I was thinking of a scenario Joe bought an apartment (ApartA) at £600k in 2018 in London and took £560K in mortgage from HighFi_Bank Joe lost his job as part of Coivd19 Covid19 made working from home as norm and no need to have home in London anymore Joe cannot pay his mortgage and have paid ONLY £10K till now. Mortgage remaining £550K Joe is happy for the HighFi_Bank to reposses the house and happy to move out to the north of England. HighFi_Bank pushed out Joe from ApartA. Joe ONLY paid in total £40K + £10K + £someinterest. So HighFi_Bank now takes the risk of remaining £450K HighFi_Bank put the house for auction and seems that its gonna fetch lower than expected price of £450K. Suddently another 10K Joe's did the same. HighFi_Bank was little worried. Share prices of HighFi_Bank crashed and capital got low. Still HighFi_Bank didn't bother and started repossessing Seems house prices have lowered again and similar ApartA starts to get £350K with loss of about £200K per Apartments !! Processing of auction and other expenses causes further drain of £25K for HighFi_Bank HighFi_Bank cannot afford £25K and ask Joe20K if he wants to buy his own house for £300K (i.e 50% cheap for Joe20K) My queries to the legal experts out there (a) Would Joe'xx be penalised on individual basis on this scenario like bad history forever? Though he did default but the house repossession is all the Bank can do? (b) In case of the bank pushing out Joe, will a second valuation happens so Joe an receive anything from the £60K he paid? (c) Does UK have similar forbearance/foreclosure process or companies who could do this for the banks?

fair enough.. But if you see there are short funds in most of indexes (S&P, dow jones, ftse); commodities (like oil,gold) but couldn't find such a product for properties. hence was checking

As HPC looms, are there any tools/inverse/shorting-funds which can track Residential house prices or Commerical properties? I've checked in many Broker providers, they all have plenty of funds/trackers for "Propery funds, real estate funds" , but all rises with rise in propery values. I'm looking for funds, which will increase with fall in house/property prices as I expect a quite down-turn in next 1-3 years.

great thread and some great replies. I always felt to look into Japan carefully, as they have experienced all the issues 10-15 years before western countries. I'm feeling, this stagnation is the new norm in the West (atleast in europe).

I believe US have a way out as the softpower of USD(dollar) is huge and the countries will trust it whatever the case be. Also the interest rate have been increased few times now. The CARNAGE of UK on other hand have left our country to ruins. Interest was not raised and no tools available. God save the country !

wow. So whom you think is not 100% corrupt? Labout is 100% corrupt + added problem of hypocrisy. That makes then super corrupt and cannot be trusted at all.

cheers matey

great details in there. Didn't know HMRC can go upto 20 years. Do you have a link for it, so can i can share to them? I also feel it is huge risk, but they don't care it seems. many started doing HMO style too with multiple people renting. Hope HMRC comes with full force sooner before the house prices crash and they have nothing left to pay

which part do you think won't come? or you think none of these will come?

I don't think it is necessary. Technology will change it automatically. I can see no reason before landregistry becomes obsolete (eg. Blockchain based exchanges) and online/hybrid estate agencies rule the place, with lot of conveyancing tools automatically available.

I'm still confused how Government will take interest if BTL won't declare? I know lot of landlords, who were doing for 10 years atleast 1. Directly takes rent via direct debit (no agency) 2. Directly takes cash (especially 3 or 4 people living) How will govt. will get tax, in above scenarios?

well.. in one way, the house prices have gone down by 25%+ from 2016 prices. (£ slump of 22% && 4% average reduction in London). Wished we had easy option to keep money in USD or Swiss Francs

I feel, the landlord is planning to sell it. On the contrary, I feel it may be good for you to look for a rented property and start looking for houses in next 6 months. By the 2nd or 3rd month, if you find a good house, it should drop by another 5%. So from a financial point of view, if you are buying a house you will save the moving costs and difficulties which you have experienced or if you want to wait further you will have the comfort of mind to say that you are going to live in a non-shabby renting atleast

Bit of a dilemma, as we liked the North Swindon area and houses are quite good. Please find my analysis, but would like to see if anyone can add it to the list. 1. north of "ThamesDown Drive" (Redhouse, St. Andrew etc) are quite good houses and nice area to live. But travel to Railway station in peak about 35-40mins in the morning !! So london travel is horrible. 2. South of Thamesdown Drive, within North Swindon (Abbey meads, Haydon End, Taw Hill). Seems good. But time to Station and Centre is still bad and prices are higher by 20-30K from north of Thamesdown which makes it north worth sometimes 3. East Swindon -. (dorcan/Covingham/Stratton) => Area has quite higher rate of crime etc as per StreetCheck. Interesting area imo from a travel perspective, but the area doesn't look modern 4. South Swindon/Wroughton/Devizes route => Interesting area. Higher prices of houses and selection is less 5. New Town and central Swindon => Horrible place. Runway.. 6. West Swindon => Still a mystery for me. Some people say it is good, some say it is for older generation and not worth it. Hopefully more of HPC members can enlighten? 7. Old Town => Very strategic location .But tremendously overpriced. North worth money if you can please give other options/view/postcode for me to look into, that would be very kind.

mr.carnage is looking to change by 100th decimal. so it wll be 0.26%

what the.. !! £3250 per month for rent? I hope it is £325 !!

yuck. what a crap house. London/Reading/Oxford, these three places houses should be reduced by atleast 60% to make it atleast near affordable

he doesn't understand how much s88t he is in he won't have money to pay that much captial gains tax by 2020

a great time to ship the benefits in London folks to Stoke.. why would tax payers need to pay £2000 pm for rent in london !! crazy

what a waste of money... £188m and counting. the building is so complex, that cleaning and dusting would itself take millions...

wanted to see how much of this £20bn expenses is interest charges. Can we find a way to pay this off as quickly?

i dont think any sensible Russian billionaire save their money in Ruble !! it is the poor/middle suffers from such rout

hope this will trigger everyone to wait for another 2 years.. let's bring on HPC boys !!