mhifoe

I love the way that the review starts with 'Don't judge a book by its cover'. Maybe they should sell it like this: http://www.rightmove.co.uk/viewdetails-295..._t=buy&chnl=buy Notice how there is no picture of the outside at all. That's because it is a council tower block constructed in the brutalist style.

That's a good point. A visit to http://www.cic.gc.ca/english/skilled/assess/index.html shows that I am eligible to emigrate as a skilled worker. Maybe I should show the wife what we could buy...

That website is a bit depressing for a potential FTB living in the UK. How about a 4 bedroom house on 8 acres of land, for £75,000? http://www.thinknovascotia.com/listings/details.asp?key=221

What a bargain. It's worth taking a look on Rightmove for properties to rent in Basingstoke. It would appear that almost every flat in Crown Heights is up for rent. I note that flats such as the one pictured rent for about £750pm. That's a yield of under 5%, even with the 15% discount.

Last week I noticed that the Northern Rock calculator had been taken offline. I was checking it because I remember them offering very high salary multiples. Their calculator is back up today, and is offering the following salary multiples: 2.75 x combined salary 3.6 x one salary 3.6 x first salary + 1 x second salary When I checked them out a while ago the were offering about 3.5 x combined salary. Maybe they are getting cold feet?

Indeed. A truly shocking tale. I would expect a BBC piece regarding dentists to bring up this sort of story, rather than suggest everything is all right.

There was an interesting story on C4 news this week regarding dentists. A young man broke a tooth but couldn't get emergency dental treatment. He went to several dentists and noone could see him in less than a week. It developed into an abcess which nearly killed him and required a tracheotomy.

The question is, where are the FTBs going to get the money from? I am a prospective FTB and the only way I could buy a reasonable house is with a ludicrously high multiplier of income. Will lenders really be chomping at the bit to lend these multiples in a falling market? I notice that the Northern Rock 'How much can you borrow' calculator has been out of action for a while. Maybe they are getting worried about all those 4xSalary 125% mortages they have been handing out.

I have recently received a Virgin credit card and when I phoned them to set up a direct debit I had the following conversation. V: Would you like a lump sump transferred into your credit account at 0% for 6 months? Me: No thankyou. V: Think of all the things you buy, it's like free money! Me: I'll still have to pay it back, no thankyou.

You will know the crash is in full force when the bullish property programmes are replaced by Alvin Hall. I was at a barbecue over the summer, talking to the partner of one of my cousins. He has just left university and joined a graduate training programme. He admitted that his starting salary only just covered the rent. However, he was driving a new Mini Cooper which he had bought the week before. Blowing 15 grand a a car when you can barely pay your rent doesn't strike me as a very good idea.

The £2 fee only applies to your own credit record. They are required by law to provide the information for this price. Landlords have to use a service such as Tenant verifier. I recommend renting a property through the local paper. I'd certainly avoid letting agents if at all possible.

The Sunday times had an interesting article about abuse of sickness benefit: Jobless steered onto the sick list They sent people to job centres who said they were feeling a bit run down. Job centre staff encouraged them to go on the sick rather than the dole.

I think you're right BBB. Never attribute to malice what can be adequately explained by stupidity.

Ahhh. I see what you mean.

BBC stories don't allow you to reply directly. The messages are vetted and then a selection are posted later on.

I see your point. The banks are more likely to lend because of the housing act. It'll be interesting to see if they are quite so enthusiastic when there is less price growth. What I was trying to get at is that the current state of the rental market doesn't seem to have much to do with the the housing boom. People can't be buying to let based on the rental yields because they are so poor.

I think that the affordability argument is overplayed. House prices are now so high rent is often cheaper than an interest only mortgage. I rent a 2 bedroom house for £500, similar houses sell for £120k. 120k at 5.5% costs: £550 interest only. £737 repayment. I think experienced landlords who concentrate on yield will not have a problem. But new BTLs who are highly geared may have to dig in to their own pockets to cover a mortgage shortful. Without enormous capital gains why would someone keep up such an investment?

I don't think there is a problem with the rental market. Rents haven't change much in the last few years and the market is competitive. I don't think the housing act has caused the recent house price rises. The inexperienced BTLers who have invested in the bubble don't seem to pay any attention to yields or the downsides to renting. They see it as a licence to print money. In my local paper this week the following houses are for rent in my local area. See if you can guess which one has been recently bought by a BTL. 2 bed terrace: £500 3 bed terrace: £575 4 bed semi: £699 2 bed terrace: £725