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FIGGY

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Everything posted by FIGGY

  1. And that’s the problem, their lack of experience shows why they should never be allowed to sign this sort of thing. I look at every contract revision for every single change, as would 99% of people in industry. If I sign it and it goes against me that’s my bad. It’s just live the interest rate swap “scandal”. If it worked for the businesses they would say how they were so clever to sign up to them, as soon as it goes sour it’s the nasty banks pulling the wool over their naive little eyes. Be an adult and face up to things when you have a fu*ck up...better still have a brain and read things through in the first place and have ball enough to say when you don’t understand the terms!
  2. Bingo, I have no idea why schools with no commercial experience are allowed to sign commercial contracts. I wouldn’t let the Marketing Director negotiate a sale for my business so why the heck would a head teacher be able to look after capex. For the small number of times they must do these contracts it should just go to a central office for sign off. Also volume always = discount so why do individual schools buy 2 copiers when a whole council or an entire county could buy in one hit???
  3. Maybe but dont forget rent goes to make up GDP and its domestic spend not imported. On that basis its much better for the government to keep house prices and rent high, and make people give up their imported luxuries than it is to lower rents or house prices. Wether grain is an imported luxury or if that label is just reserved for Ipads I'll let you decide
  4. Fair enough, but the Halifax talk sh*t and they know that 95% of FTBs wont have a 25% deposit (I've got a 25% deposit as a first time buyer but I'm not a typical FTB). The 10% senario above shows it can stack up, it just means that there will be a further erosion of living standards for young people. Its not fair, I feel bitter resentment about it but we may well become a nation of renters wether we like it or not.
  5. Whilst I get what you are sying, £40k down for a FTB is nuts, based on the £160k house that would be more like £16k down (2.7y to save that @£500pm) so not too crazy However if you were to buy and rates were at 6% just the interest would be £700pm (on 25y) and repayment would be £927. I guess if you stoped saving the £500pm and added it to your house payemnts that would cover it, but it paints a bit of grim picture. I may be about to buy (as a 30y old FTB) for a variety of reasosn but I expect to lose about £20k in doing so. It needs to be noted for my area my rent would be £1100/£1200 and my repayment mortgage fixed for 5y is £1020 so I guess a lot depends on what area you live in.
  6. Thank you for this, fantastic. "I'd just like to sign you up to one of our special courses in economics so you dont fu*k it up again" comedy gold
  7. This, if you had a sex chaneg in the year it would have gone up
  8. I guess it depends where those people live. I would fidn it liberating to not have a car if I lived a 2 min walk from Liverpool Street. You always geta smug somone who says get rid of the car, forgettting that a lage number of jobs ask for you to drive and that the high cost of living menas just "jacking in your job for something closer to you" is just a pipe deream for most who are happy to have someitng that pays just over minimum wage.
  9. Why have you taken 10y? At 4% on 25y this is £1543 (repayment) or £964 (IO) Push that to 35y and its £1295 Still silly but...
  10. ha haha hhhhaaaaaaaaaa... oh wait, your not serious are you
  11. Lol, it was in jest. I would expect the contract to be sold onto another private entity as part of the liquidation and we keep on paying
  12. Why dont they just let them go under and then the govenment can buy them back in a pre pack for pence on the pound. Thats the way these things work. In my eye this is an example of a GOOD PFI plan as we can walk away with a free hospital at the end of it (less the payments already made)
  13. Here is thr ethis money take from 10 days ago. The DT may be putting their own spin on the Fathom report as the main thrust from Fathom was reposess and clear out the rot. http://www.thisismoney.co.uk/money/news/article-2190650/Erik-Britton-Its-time-radical-UK-wants-growth.html
  14. Or have just spewed out an onld press release reconfirming projects that are already in the pipeline? http://www.telegraph.co.uk/finance/china-business/9500548/China-announces-800bn-stimulus-to-boost-confidence.html
  15. Thats very harsh, if you read what the OP put We previously had tenants in there and they have now left, we have given notice on our tenancy for where we are living and are due to move in two weeks (completion date). They have had to rent their palce out and they are renting themselves, it would appear the OP has been as caught out by the disfuctional housing market as anyone else.
  16. There were a lot of people going through it, but for a Sat no one was shopping. You cant forget that you couldnt take any big bags into the olympics so what the hell would you have done with your shopping. Fot fall is NOT sales
  17. If you need us to do some "off the wall" bidding for you then let me know
  18. Great post, there is always a balance to these things its just that the media types really loved to pile into BTL and that a large group of the population saw housing as a cash point so a fall in prices would put there INVESTMENTS on the wrong side of the bet (their HOMES wont be impacted as long as they dont move and they are not on an IO mortgage) For those that see a house as a home it makes no difference what so ever, other than the positive of freeing up money to go into the real economy rather than into banks.
  19. He won’t be worried, it only applies to mentally handicapped teenage computer hackers, not masters of the financial universe
  20. the insanity has registered with the Telegraph in a rather good piece http://www.telegraph.co.uk/finance/comment/jeremy-warner/9456634/Negative-interest-rates-spell-final-defeat-for-beleaguered-savers.html
  21. If you dont rply back to this thead then I assume you have had the knowck on the door as well (never say it outloud)
  22. I'm afraid its not made up. I like him as he is a nice bloke but he has always been lucky and made his millions on the back of that luck (sold his business days before the crash). I didnt tell you the best bit. He haddent seen either palce, just turned up looked at the legal pack and bid. He has a bigger pair of balls than I do. One of the other reasons I had a pop at him was because I know whe wont give a sh*t about his tennants
  23. Not my words but that of my mums partner when whey dropped by yesterday. The conversation went something like this: Me - What! When did you do that Andy – This morning, I just dropped by the auction and decided to buy a flat (£50k) and a house (£175k) - cash. Me - Um OK, what are you going to do with them Andy - rent them out, my cash is making no money and I can’t get an investment that keep up with inflation Me - What yield will you be making Andy - I don’t know but more than I'm making on other investments. Me - But house prices are going down, you are buying a depreciating asset? Andy - After a lot of shouting about how little money he was making elsewhere including some gems like, inflation is going up, wages must go up, they won’t let house prices fall, a £50k flat will never be worth much less and me countering on each one he’s says - Why are you so negative Me - I'm not, I’ve just been looking at buying a house (to live in) and all the indicators are it’s a bad place to invest I wondered what you based your investment on... Andy - House prices always rise Me - Ah, that’s what I thought you would say. We if you are willing to not sell for 10y then fair enough, although you may find that £50k flat won’t buy you much of anything at that point And we both go quiet. This crash has a long way to go
  24. it's the callous nature of some comments on here that I'm pushing back on. As someone "priced out" no one has felt sorry for me, or when they have (via the media) it’s been in a patronising "the banks aren’t lending to you are they sonny" way rather than a "because we all got greedy, MEWed and bid up prices, we are sorry we screwed you" way. I get the painting analogy and whilst I agree in part, you have to remember for 90% of the population they are not making an investment they are just buying a home, there is no speculation, no profit motive just a security, family unity motive (I think we can all agree that no one should be mocked for having that as their primary driver). OK you could argue they could have not gone for such a big house, not for a new house etc but they weren’t to see what was just around the corner.
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