

Clouseau
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About Clouseau
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HPC Poster
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Rental Anecdotal- Landlords Not Fitting Kitchen Goods
Clouseau replied to munimula's topic in House prices and the economy
We once got by for several months without a cooker, by using a cheap plug-in electric (double) hob (from Argos - 2 would be even better) & a microwave; might get tedious over a long haul tho.. -
Kirsty Allsopp , Has Her First Baby
Clouseau replied to grey shark's topic in House prices and the economy
Short for Bay Window? -
House Prices Due To Demand Or Cheap Credit?
Clouseau replied to Charlie Don't Surf's topic in House prices and the economy
If cheap credit is indeed the underlying cause of HP bubble (as I believe), the question arises as to why the option has been so enthusiastically taken up by the public? - my parents ( the pre WW2 generation) had an attitude of general aversion to indebtedness, which seems to have steadily lessened thru the genrations, to the point where today, people are committing themselves to huge risks, as tho the world were a giant casino; availability of credit is one thing, but why the reckless take-up of it?Why so little regard for possible negative consequences for years to come? Just because 'everyo -
House Prices Due To Demand Or Cheap Credit?
Clouseau replied to Charlie Don't Surf's topic in House prices and the economy
Why the bubble? - I agree with the 'cheap credit' answer, coupled with the ramping of property speculation by the media, the attractiveness to many of property as an alternative pension-plan in the wake of other pension-fund screwups, & the BTL mortgage phenomenon; IMO, a major scandal of our age is 2nd-home ownership, & the failure of govt to discourage their perceived middle-England election-deciders by any kind of financial penalty - I would very much like to know the numbers on this; where I live (South Coast ), many towns/villages are dead in winter thru empty 2nd homes, it must a -
If you rent & invest like you say, seems to me that you're not taking a huge risk, as it's not likely that prices will rise so high & so fast that you'll be priced out, & if they fall, they MIGHT fall enough to make the gamble pay off; also, if renting, you're well placed to move swiftly back into ownership, should you so wish. It HAS to be a gamble, no way for it not to be, but if my circs allowed it, it's one I'd be taking right now..good luck..
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This topic is close to home for me, since I have just backed-off from signing an IO mortgage at the last minute - I wonder how many going this route will have the financial wherewithal/self-discipline to overpay substantially/often; if you DON'T do this, your interest payments will remain very high - the more I lived with this prospect, the more it stank - it just amounts to taking a huge gamble on rising incomes(possible)/prices(unlikely, IMO) -better to save that money now & get a better deal later..
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D O W Is Plunging Again As Bond Yields Rise
Clouseau replied to Realistbear's topic in House prices and the economy
Please stop shouting.. I've got a hangover.. -
Bad Debt, Unemployment, Oil $80+, Boj, Infaltion Concerns
Clouseau replied to sam's topic in House prices and the economy
Fine post - ie, what we have is LEVITATION - you DO believe in levitation?.. -
Thanks for a measured response - my partner & I are embarking on IO mortgage just now, in order to trade up before the HIPS nonsense starts, but will not be in position to repay capital until she qualifies (from college) in a couple of years, & can expect a substantially increased salary; so, some of us are actually thinking these things through, & making rational decisions according to our paricular circumstances..
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Poverty Stricken Pensions On The News
Clouseau replied to SarahBell's topic in House prices and the economy
It's the laxity of lending-criteria that has fuelled any 'shortage' of housing - 20 years ago, it would not have been possible to borrow/remortgage in order to finance BTL or second home, thereby causing a shortage; repeat, it's down to the SYSTEM, not the individuals within it, & any rancour should be directed toward those who direct(?) monetary policy, not those who have to make the best of things as they find them - which, incidentally, is exactly what today's young'uns will have to do when they get older, too.. -
Poverty Stricken Pensions On The News
Clouseau replied to SarahBell's topic in House prices and the economy
These anti-old sentiments are some of the daftest I've seen here - these people you're so keen to vilify didn't create the housing situation in which they find themselves, they're mostly trying to do their best for themselves, same as anyone else; if you MUST find someone to blame, try the legislators/money men who've made credit so cheaply & freely available that it's fuelled this house-price bubble - many of the comments here are both absurd & shameful -
Thanks very much for your replies, but neither seems to address the central point that the money SAVED each month (£200 in my example) can be used to repay the capital sum borrowed (up to 10% per year without penalty after the 1st year), meaning that each year, a £2400 reduction in capital sum (with consequent readjustment/lowering of monthly interest amount) - with a repayment mortgage, the capital sum would not reduce by so much, so early, since it is more 'loaded' towards paying off interest in the early years; I may very well be adrift in my thinking here, but as yet can't see how ..
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Apologies if this has been discussed before, but I am about to embark on an IO mortgage, & would like to better understand - it's been explained to me that IO can actually make more economic sense, since if one has a repayment mortgage of, say, £500 per month, almost all of that sum is paying off interest, not capital - whereas, if the same amount was borrowed on IO, & the monthly repayments were eg £300, by saving the extra £200 & paying that off against the capital once a year, the capital sum would be earlier/faster reduced, & the interest would reduce quicker; anyone able t
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Hip Packs - Will They Be Compulsory For Private Sales?
Clouseau replied to Clouseau's topic in House prices and the economy
(Thanks for reply) -I am - saves a packet on EA fees too; I'd guess there will be a lot more effort put into trying to effect privately arranged (non-EA) sales in the future, maybe via the Internet? Be very interesting to see what unexpected effects HIPs will have - none of those in the business that I've spoken to seem very keen..