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Terminator

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About Terminator

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  1. Buyer sentiment has clearly changed here (Essex/London border) Spoke to an agent friend of mine and they usually have a ratio of 50% for sale / 50% sold on their books but is now 75% for sale 25% sold.. Very unusual for this time of year apparently.
  2. I read somewhere that the refusal rate for credit of all types is going through the roof. I recently got approved for an 800k interest only mortgage with HSBC... I'm tempted to leverage up and play the game... Now all I have to do is find a property not priced at 2007+ 30%
  3. Got 250k in this account, I'm not happy.. Ah well it was only a matter of time as it was the best on the market
  4. Would you mind elaborating further on how you are getting 8% In India with HSBC? Is this just a straightforward savings account or some kind of bond? Thanks T
  5. I don't blame you, if it's cheaper to buy than rent then why not! Rates are going nowhere, wouldn't be at all surprised if the base rate got cut further... HSBC are doing a 2.54% tracker which is crazy cheap borrowing. The market is rigged, it could take 10 years or more to play out, the fact that bob the builder has been a member of this site for 8 years says it all really. I'm no troll btw, been waiting for the crash since 2004 and still don't own a property.. The way I see it you are better off focusing your energy on family, friends and improving your earning power to a point where property prices are less of a factor. T
  6. As much as it pains me to admit it I have come to the same conclusion as you.. Although i see prices moving in the right direction with interest rates as they are we will never see enough forced sellers to move the market significantly downwards... The fact I can borrow 500k for a repayment of £2300ppm says a lot about which way this is going, most people just don't need to sell... I have been sitting on cash and getting negative returns for too long so I intend to buy within the next 12 months.. T
  7. I'm not trying to put you down but have you ever run a business?.. I'm guessing you haven't as you seem to think its a one way bet any you will easily make more than 10% return pa.. Its really not that easy, if it was everyone would do it!. Do you really think running a shop would be rewarding? I would be grateful if you could point me in the right direction of the 'many' safe investments that return 10%+ pa? I am now mid 30's and am in a very fortunate position to have saved seven figures but I still don't see how I could retire any time soon (not that I want to) and maintain a good enough income to enjoy life. Considering there is only a 85k guarantee per institution it is near on impossible to find a sensible return that is safe.. The biggest problem with your plan is inflation, it will erode your capital like a b1tch… 300k will buy very little in 20yrs time.. Just because you gain your fulfilment from living as frugal as possible doesn't mean everyone who doesn’t share your outlook is an out of control consumerist.. I gain my pleasure from being able to travel with my friends to see and experience new places, eat out and socialise as I please, drive a car that will start every morning and at some point be able to buy a house that has sensible sized rooms, somewhere to park and where my neighbours are not right on top of me, like it or not in the southeast that’s never going to be cheap.. I guess that make me a mindless 'spendaholc' in your book. Apologies if you think I’m trying to wind you up as its not the case, just think you need to be a little more realistic.. T
  8. not stayed at The Grosvenor, have heard its good but it doesn't have direct beach access. The Dar Al Masyaf is one of the best hotels & there is an excellent choice of restaurants, Al Qsar is also good as is the One & Only on the palm although it is a little isolated T
  9. I fall in to the option 5 group.. Just been playing around with the BBC mortgage calculator and am wondering if I am missing something.. The current best tracker rate is 2.64% with HSBC which equates to repayments of £2298pm on a 500k loan, so assuming the rate stays the same for the term of the mortgage you pay back a total of £689400.00 Now if you put 500k in a bank account paying 3% and compound that over 25yrs you end up with around £1,016,000.00... Even if you said 2% (to allow for tax deducted) you still get approximately £804,000.00 So what am I missing? are my formulas in the spreadsheet wrong for compounding?.. If not, why pay cash? T
  10. I don't really have a strategy, I wish i did because I'm bricking it.. Currently split like this 5% Gold 10% Equities Cash split between the following (none making more than 3.5%) 5% Santander 5% Nationwide 10% NS&I index linked 10% Coventry BS 15% US Dollar 40% HSBC I am keen to hear if anyone has any better ideas but I am seriously considering buying sometime this year.. T
  11. Google 'tax planning' although the EBT route is dying off I believe there are some other strategies around that gain CT relief. T
  12. This is my biggest worry. I have enough gold and I have maxed out on NS&I bonds so what are the other options? How many completely separate banking institutions are there in the UK? (to take advantage of multiple deposits to get the 85k guarantee) So many banks are subsidiaries of each other so you could not be covered for 2 lots of 85k even if they are in different banks. T
  13. Yes it would balance the figures for 1 yr but what about the last 3 years I have been renting (I've spent over 42k on rent) prices in my area are at best flat over this period and on decent family homes I would guess they are up 10 percent If we finally get the 20-30% falls we want over the next 12months then I agree it would make sense for me to stay put in rented. The problem is the majority on this site has been saying "the crash is just round the corner" for the last 6 years. We were proved wrong, although economically things are looking incredibly shaky right now what happens over the next 6 years is by no means a sure thing. T
  14. What if you had funds in the bank above the FSA guaranteed 85k and could afford to buy outright, would your view change?
  15. Sorry I probably sounded like the sheeple with my "throwing money away on rent comment". I Totally agree with the logic and the fact that it always costs to put a roof over your head but with interest rates so low I’m not sure the figures stack up for me. Lets take the place I am currently renting, to buy it would cost at least 300k so if that cash was in the bank I would have to tie it up in a 1yr bond just to achieve 3% gross return (£9000.00) then deduct high rate tax so that leaves what, £5400.00? So when I’m paying 14k in rent (I know I pay less than most in my block) the decision becomes less clear. What would you do in this scenario? Add in to the mix that I’m long cash (and not entirely comfortable with that) it makes buying a home or even a BTL or two seem a sensible option (it pains me to admit that btw). I’m not trying to be controversial but do you see why I am considering these options? T
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