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Lovely Lolly

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About Lovely Lolly

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  1. Just wondered if anyone on here is looking in London W2 Paddington/Lancaster Gate areas? Prices are up on last year for sure but the amount of over priced property (1 and small 2 beds) sitting on Rightmove for a number of months is cheering me up. The odd one is going SSTC or UO but it is the odd one or two! 'Duke of Hazzard' are you still around and looking? LL
  2. But isn't the point that the banks are and have been aggressively lending, in many cases their policies are just as irresponsible as the behaviour of those who get into debt in the first place and all the payment protection they push on people alongside the loans bumps up their profits even further. LL
  3. Have the debt advise lines got the extra people they needed to man the phonelines does anyone know? First CC bills after Xmas are due anytime soon................. Glad somebody on this thread has made the point that to get a higher eductaion these days debt is mandatory; that to me is a tragedy. And to answer your question L there have been reports in the papers just over the last couple of weeks that calls to CAB and debt agencies are going unanswered because they don't have the staff. A Tory debt commission last year highlighted this. I wonder will this girl's death change anything? The banks should be obliged to donate some of their profits to the charities that are left to mop up the mess their lax lending has created. LL
  4. I have no problem with the long overdue development of the Lea Valley area but you just know when Ken Livingston whines that its 'only' going to cost every Londoner 'the price of a walnut whip' that we are very likely to be in for a Dome style public money over - spending fiasco and guess who picks up the tab? More ferre roche than walnut whip I think. LL
  5. or perhaps living in one. They aren't cheap right now but the point I was trying to make is that no way are these paying investments. Now there are a lot for rent soon there will be a lot for sale and prices will drop. Of course you pay a premium for being central but I've watched how crazy its gotten around here for the last 9 years. Re: discount when I started living in this flat my discount for paying annually worked out at about 13% as I've stayed here 9 years it is now a hell of a lot more (around 30%) but my landlord doesn't have a mortgage on this building it was bought and paid for in the 60s so he's happy to just have the regular annual rent and not have the hassle of finding new tenants. There might be other opinions on the renting thread but I would be really bullish as what do you have to loose? If you've been with them a while and they know you're good tenants why not ask for 30-25 % and see what happens. That may be crap advice as I have no idea how unique my situation is!! LL
  6. D, Am wondering if 1 and 3 might be at the Royal Oak end of Gloucester Terrace? It might explain the cheaper price as that tube isn't as great as Lancaster Gate or Paddington. Also wondering if you know the lease length of any of them? I'm curious about Westbourne Terrace one as that seems like good value in the current market. As mentioned in pm to you this area is so heavily invested that I'm sure prices have further to fall. You know the wonderfully characterless canalside developments in Paddngton ? 60% are owned by foreign investors and Merryn Somerset Webb (also a local) has pointed out on a couple of occassions in The Times that there's loads of them sitting empty. Yes rents may go down in this area but perhaps many LLs will get out altogether and purchase prices will fall further. What do you think you will you do? Try and drive a hard bargain on a rental (if you need to move) round here for a year or two, or try and buy? and fairly little above that in what is traditionally quite a let-ey area. LL
  7. I've just been reading your thread. I find this useful as I'm in W2 - doesn't surprise me at all that SW6 is holding up and flats seem to have risen slightly People just love Fulham and I guess the shakier areas are those where people gravitate when priced out of the more salubrious postcodes. I see the same thing happening with W2 and W9. LL
  8. I've probably not been here long enough to know if you're serious....but is buying a house more important than the health of your digestive system?? Surely you will just look very orange on that diet and then get ill, what good will the house be then? I am pretty amazed by the ingenious frugality by some on this website. I hope you reconsider splashing out on the odd piece of fruit. LL
  9. 1) A positive outlook on life IS important 2) Genuine risk SHOULD be rewarded, and society should encorage this 3) Geniune risks that fail SHOULD NOT be compensated, and society should accept this 4) Money and debt are important. Debt, credit and the subsequent gearing they allow are useful. However prudence is wise. There is nothing wrong with taking a loan, there are many things wrong with getting over committed. 5) The economy moves in cycles, asset prices move in cycles. There was a time when you could make an absolute mint from buying up loads of flats in city centres in the UK and renting them out or selling them to a strengthening market. If you put your mind to it and called the right shots you could probably become a millionaire and achieve financial freedom for you and your family during the period 1994 - 2004. 6) Five no longer applies. Some people had the foresight to apply 5 above. Others didn't. Thats fine. However some people suggest 5 above still applies today, some people also take pleasure in beraiting, gloating, goading, and labelling people who did not do 5. Why? 7) I run a small consulting company, I have business ventures, I do not work for a large organisation in a secure job with a final salary pension scheme. I am studying as well, I have lived in many countries. I am optimistic and I take risks, maybe too many risks at times. I have lost money and I have made money. By definition, my lifestyle is one of risk and optimism. Yet I do not see the property market as the place to be RIGHT NOW in Jan 2006. Why? Hi P 1-4 why would your bulls disagree ? But I would venture they will have a different interpretation of the words 'over -committed' than yours. 6, - don’t you think luck plays a significant role in that activity? I have heard people gloat about the money they have made in property and they seem to feel a very strong desire (from insecurity/vanity?) to attribute it to their own 'foresight', judgement etc. There is a great deal we don’t/can't control in life though many feel more comfortable believing otherwise or their own 'timing'. As for property developers I would call someone like Ms Beeny more of an entrepreneur because she rode the wave and moved on to another venture. Those who are still banging on about property seem to believe they've found some kind of financial holy grail and just can't believe they, themselves might be wrong. As for 7 not sure why you're asking as you and so many others on here seem to have found other ways to make money and do not favour property. For many who continue to invest in it it's the love affair of something permanent, for those who continue to buy (because they just want a home) I would suggest a lack of patience and flexible thinking. LL
  10. You just can't advise people to take on a mortgage if they have no manoevring room - to do so would mean asking them to bet their financial future on the fact that their circumstances will never change, times will never be hard, they will never be a forced seller. I wouldn't take that bet and hope no one else here does. You are so, so right. I fed up of hearing this 6 multiple salary rubbish from commentators, friends etc. The one and only thing keeping this hpi show afloat is the public's unshakeable faith that low interest rates are here to stay and of course that is reinforced on a daily basis by the media. It's as if everyone just got brainwashed and cheap money is now the norm.
  11. Anyway, apart from my dissapointment, frustration and anger at lost money, its occured to me to put this story to you guys (I've been a fan of the site for ages) to see if anyone can give me any comfort as to what this means. Does it mean the property market is really undergoing a resurgence...thats too depressing to think about, was I just the victim of a nutter with 380K, and was I stupid to try and buy in the first place (I currently rent). I have to say this shakes my faith in a crash coming, but I still want ot believe! Thanks for letting me vent." Your story is v. sad but I don’t feel surprised by it and yes, I believe you were the victim of 'nutter with 380K'. There are still a lot of them around in the London/S.East. I posted here in despair as the last of my renting friends has now bought for crazy price in London and in response others gave similar examples. The key reason people keep doing it is stupidly low interest rates. I've had people tell me over and over that we are now living in a 'low interest rate environment' I think they are living in cloud cuckoo land but there you go; they believe it. People cannot accept the possibility that rates could move significantly higher. Until they realise that the colossal mortgage you need to get on the ladder in SE England could and will cost them significantly more and maybe cripple them finacially, I can’t see that all important change in sentiment happening in this part of the country. I just hope rates move in the right direction this year.
  12. Well done. This should benefit everybody. The over zealous troll police can now take off their uniforms and relax and if all new members' posts are vetted by moderators people should have no reason to be suspicious of them.
  13. quote name='right_freds_dead' date='Jan 5 2006, 01:01 AM' post='266195'] thats obvious, but this is the norm. if you let the woman lose with the finances within 3 weeks the house will be chock full of cream carpets and italian leather sofas, with her hiding behind you squealing and crying everytime theres new mail through the door asking you to "take them away". then she will go straight to B&Q and buy a potted spider plant and within 4 weeks will begin to talk about getting a conservatory. Oh yeah silly me, 'cos an Xbox, flat screen TV and any other gadget are just great investments........
  14. Read the thread - she's asking for a divorce if they don't buy - seems pretty dramatic to me. Maybe you don't agree but isn't it better to try and talk than jump to conclusions she's having an affair - who does that help. You must have had some bad experiences in life to be so cynical. LL
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