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Dicky

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Posts posted by Dicky

  1. What is causing the fall in the stock markets today? FTSE etc seem to been spooked by something?

    Any ideas?

    Mr Joe.

    The BOE latest minutes reported 9-0 to leave rates on hold, the market had priced in a rate cut in November, also alot of the FTSE has just gone ex-dividend.

    Hope this helps.

  2. Isn't it infuriating how prices go UP at an astronomical rate but go DOWN in tiny tiny increments..

    It makes me so CROSS!!!!

    Its all down to maths, a 100% rise followed by a 50% fall = back to square one. put into the equation inflation and its a 36% fall = square one, assume inflation at 5% and drop over 2 years.

  3. You must be mad to even contemplate buying now, even with a 15% discount.

    Do you realise how far ex Local Authority properties fall in a crash?

    Having been through the last crash trust me when I say ex council is a really bad idea.

    Ex local Authority are okay if in nice areas, its all about location, location, location.

  4. hi all.

    im viewing 2 properties tomorrow. the EA is already saying they will take offers. both properties are on same street and same type of ex authority home. circa 1960s. so they have good gardens. im happy with the type of home. it suits my needs. price is 130k - and in NW, so quite expensive for area. rent for this home is £600. mortgage should be about £700-800 after a 10% deposit on a repayment mortgage, though i havent hammered out a deal yet.

    im thinking prices will drop by at least -30% over next three years. i think they should accept a -15% reduction. this means im meeting the drop halfway with the seller. this seems fair to me.

    any comments or tips. should i play both vendors off the other. whats a good line to use ?

    (i am unable to put off the purchase as explained in previous posts)

    Best fixed rate deal is about 4.2%, if you borrow £117K which is 130K - 10% the repayement mortgage will be £630 PCM.

    £700- £800 is clearly wrong here.

    Offer about £115 initially, then go as far as £119 to avoid the stamp duty.

    Good luck.

  5. Just A'Levels for me. (Computer Science, Physics and Maths). Got AAB but decided not to go to Uni.

    Almost like me, got A,A,A with further maths not computer science, worked on a building site after college to put some cash together for UNI, got a Tecki degree (2:1) with hons, then a Masters, who knows probably would have made my fortune if I'd stayed on the buildng site than working for a sweat shop IP (Intellectual Property, software to you and I) company.

  6. Why would a house that sold at the end of June not show up on the Land Registry, when a similar house that was sold in August did, for the same street?

    The sold sign STC (Subject To Contract) usually goes up once an offer is accepted, the exchange of contract and final completion can take anything to 2/3/4 months, it then will appear on the LR website after this. Cash sales are quicker as mortgages and lenders suveyors aren't needed and can saves about 4 weeks.

  7. Chap around the corner from me had his house up for sale in the summer for £168,000 and when he sold he did not look happy. That aroused my suspicions. But he was still bragging about the sale and how he had got his asking price. He was that type of person, always talking in a loud voice outside his house to anyone who would listen to him. I found him amusing most of the time. He was always telling us how we should buy property again. We would walk away and smile to ourselves.

    Just got the Land Registry report and he really sold for £157,000. Ouch!

    By my reckoning thats a 6.54% drop. The thing is the couple who bought the three bedroom, with garage and front garden end terrace, have had the builders in since the summer. They are doing loads of work. I reckon about 20 grands worth so far maybe more. They've turned the garage into a kitchen. Added a porch to the front of the house. Rebuilt the wall and fence. Brought in a new oil boiler(we don't get gas here)in the side garden. They look like they are ripping the inside of the house out. Landscaping the garden. In fact when I think about it...thats a hell of a lot of work. But I'm not sure how much that would cost since its over ten years since I had work done to a property.

    This same house was on the market for £83,000 five year ago. So in five years with all the lovely work done and the property losing £11,000 a year I believe if I'm still interested an offer of £102,000 will be about right.

    :D

    But don't you just love those nice little reports from the Land Registry. I'm keeping my eye on all of the property around here and it will be interesting to see how many others have had to drop their price by so much. ;)

    Similar story, a friends next door neightbour told my friend he got 300K for his house back in 2003, my mate was quite chuffed as he thought his house would be now worth £350 min, had a look on land reg, he actually got 260K for it even though it was on for 299, another house on the street is now on the market for £250K, bummer.

    I'm sure we'll be hearing alot more of these stories in the comming months.

    Area was Wanstead by the way.

    :unsure::unsure::unsure::unsure:

  8. If average house is £160k then over 25 years on repayment mortgage then you've got to find £500 a month on top of the interest. I realise that with traditional mortgages most of the early years are paying off interest, rather than debt but where do the IO muppets think they're going to find this from ?

    They'll rely on inflation running at err err err 2% to erode the debt, :lol::lol::lol::lol:

    After 25 years its still a real 100K to pay, now if you tried this in the 80's you'd only have a real 40K to pay, inflation is good, its the mortgage holders friend.

  9. Anyone got or able to produce any good BTLer or FTBer jokes?

    We could collate them here then start an email campaign with HPC.co.uk referenced at the bottom.

    Two BTLs walk into a bar and ask for two pints of lager, the barman says, sorry we don't serve food in here.

    Boom boom, can ya hear me mother.

  10. Anyone else heard rumours of big job cuts at Lloyds TSB? I'd heard that an American lady had been drafted in to slash jobs, and that several Directors had been sent on their way. I now hear that everyone's being made to go through various tests to see who, if anyone, should be sacked? Please note that this is just a rumour - not from a reliable source. Anyone else got news on this? Might have an impact on house prices in various locations.

    I was told by a friend that the initials TSB stood for Tough Sh** Ba$tard, indeed.

  11. There isn't a single 'camera partnership' (local quango's) that loses money, after all their expenses have been paid the remainder goes to HM Treasury and to the installation of new cameras, that's why their growth is exponential, more fines = more cameras = more fines = even more cameras. This is money for nothing, they'd have to be really incompetent to lose money. Your point may have been true in the early 90's when cameras were about saving lives in blackspots but it isn't the job of the police anymore, hence the 'partnerships'.

    The real cash cows are the SPEC's cameras, no film and minimal administration once they've been installed, these cameras are live linked and speeders are automatically fined thanks to Automatic Number Plate Recognition (ANPR) and a fine is printed and dropped in the post, depending how you pay the fine there is basically no or minimal human interaction. There is no slowing down to avoid these, they measure your average speed between two set points, you can go through the final camera below the speed limit and still get fined. The operators are meant to double check that the number plate has been correctly identified but the computer is pretty good so they tend not to bother, even if they're indentified incorrectly there is an implicit guilt so the motorists tend to pay anyway as they have no idea at which site they've been captured. Some people request the photographic proof only to find that they've identified the wrong car, often the wrong make and colour to boot, but these requests are now checked as to save the partnership from any embarrassment, they just make out the evidence has been lost due to a 'computer error' and drop the fine, that saves any trouble from the press.

    SPEC's cameras have traditionally only been put on road works zones on the motorway but they're such cash cows they've managed to get some permanent placements on the M6, ask any partnership and they all want a piece of the motorway, not just because of the volumes but because they get a better class of customer, they tend to pay their bills and don't ask too many questions. They've made a big PR f*ck up on the M4 though with their old school Gatso's. SPEC's are particularly effective on motorway works, so much so that they've dropped speed limits from 50mph to 40mph, the penalty rate has soared since cars just speed through like lemmings, each getting fined, each just thinking they're just following the car in front and no harm done!

    An alarming amount of tickets, especially so in chavy urban areas, are written off because the keeper cannot be identified or the car has been officially crushed, cloned plates are also a growing problem but fortunately they rarely match both the make and colour to the original, the operator should catch this since these details are held at the DVLA, but it takes a lot of effort (i.e. some effort .v doing nothing). A lot of cameras in chavy areas are just empty cases left for deterrent effect, the fines are more trouble than they're worth.

    The DVLA database is full of errors, even their new 'cleansed' database resulting from the tax disc changes and the new style V5 is riddled with errors, this was introduced as to comply with new European regulations but it was largely a ruse to ensure details are up to date, when they introduced the fines for Vehicle Excise Duty about 2 million cars came from no where, it was a good 'purge', but tax disc evasion is still north of 10% and the speeding pikies form a disproportionate number of those so up to 1/3 of speeding fines are written off in some areas.

    Officially because the partnerships are private bodies their access to intimate DVLA data is in breach of the data protection act so they don't quesiton this too much, if too many questions are asked as their statutory powers (or lack there of) to issue fines then they drop the penalty. There have been cases where confidential data has been leaked by insiders sympathetic to animal rights protestors, they gave them number plates and they found the address out for them, you can guess the rest.

    In London you can now get fined for jumping in a bus lane (some are part-time too), or going the wrong way up a one way street or sitting in a yellow box (yes, people are often fined despite being allowed to sit in them if turnng right) and there's also 20mph zones that fine people officially still in the 30mph zone, the error rate is awful but we stand for it! ANPR was originally introduced to enfore the 'ring of steel' aroun the City of London following the IRA bombings in the early 90's, look what it has lead on to (congestion charging to boot), thanks to the recent suplurge in terrorism we can only imagine what new technology will emerge from this swamp, ID cards are a cert.

    They're insidious b*stards straight out of 1984 with wonderfully Orwellian names "The (x) Casualty Reduction Partnership", the justice is peculiarly Kafkesque. Enjoy your car while you can, if the oil doesn't get you these buggers will!

    Don't know how true this is but I'be been told by a systems engineer whose worked on similar projects that by swapping lanes the camera can't track you, they look for the same car entering and exiting the same lane to average the speed, if you swap lanes mid point it get lost, could be horsesh**, has anyone else heard this. The other way not to get caught is not to speed.

  12. Sorry but that one, the telcos took a punt and lost. Anyone who had shares also took a punt and lost. That is capitalism, that is the free market and that is what used to make us different from the ruskies :P

    Quite a few capitalist counties gave it away free, how bazaar in a capitalist society, reason being to generating jobs and income revenue rather than killing the ****ing goose that lays the golden egg like GB and Co did.

  13. This has been discussed quite a few times before. The UK stock market is actually doing well at present (FTSE100 4 year high and FTS250 on an allltime high). Sure the profitability of quite a few companies are being hit but still a lot of money is being poured into the stock market as an alternative place to invest from property. The property boom was partly a response to the dotcom crash - now the same thing is happening in reverse up to a point.

    The more savers save because of the comming crash, the more money the banks will pump into shares, its currently a false market, don't join in just yet, FTSE 5000 year end I reckon.

  14. http://breakingnews.iol.ie/news/story.asp?...892&p=y57849598

    French Connection today said it had dramatically scaled back the use of the **** slogan after a slump in sales.

    The fashion company’s logo, which has been used widely since its creation in 1997, has been taken off clothing and billboards.

    It follows a 9% fall in like-for-like sales in the six months to July 31 when profits plummeted to £5.1m (€7.5m) from £16.2m (€23.8m) a year earlier.

  15. This average wage thing comes up here and on other forums.

    A debate then ensues.

    Can anyone point to statistics that really show the true figure?

    Presumably something from academia might be more useful rather than some VI.

    The average wage is 61K thats why we can sustain current houses prices at 180K or have I got it the back to front.

  16. Just to back up one of Boom n Busts earlier posts, here's the latest off the Yorkshire production line of over inflated houses for sale. This has just hit Rightmove today and shows the continuing escalation of asking prices round my way in North Yorkshire.

    http://www.rightmove.co.uk/viewdetails-944...pa_n=1&tr_t=buy

    Madness, it will never sell at this price ........... or will it ??!!

    Would you pay £500k, for a 3 bed bungalow like this ??

    Crash ? not a snowballs chance in hell of a crash round here !!

    I would rather stick my *** in a blender than buy that pile of **** for 1/2 Mil.

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