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dolf

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About dolf

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    HPC Poster
  1. Surely they got their timing wrong, shouldn't they wait for the scary headlines then announce more QE?
  2. http://hat4uk.wordpress.com/2011/09/23/crash-2-exclusive-it-looks-like-the-eu-is-moving-covertly-to-restrict-retail-gold-sales/ And what will happen to gold if they do.
  3. After being quiet for a while now, perhaps due to lots of big stories, the Media seems to have been posting lots of HP related stories today. Some really bullish, talking massive rises. They seem to report either a positive spin or negative, but in each case they are reporting massive house prices rises. Lots of media reporting this story along the lines of "Home ownership to slump": http://news.sky.com/home/politics/article/16059054 "The National Housing Federation said the number of property owners will drop to just 63.8% as house prices soar, compared to 72.5% in 2001." http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8729458/Home-ownership-to-slump-to-mid-1980s-levels.html "High property prices, strict lending criteria from mortgage companies and the need for large deposits could effectively lock millions of Britons out of the housing market" And there's the positive spin from the express reported on the HPC homepage today: http://www.express.co.uk/posts/view/268030/HOUSE-PRICES-TO-SOAR-BY-21- Seems to be very active, is it all down to the NHF reports mentioned in this BBC head line? http://www.bbc.co.uk/news/business-14708841 I'm curious as to all the activity today, when we've seen little over the past weeks.
  4. Gold is pretty interesting at the moment, perhaps that's why so many members on here talk about it - because this HPC is tedious!
  5. You missed £50 cash back from Top Cash Back: http://www.topcashback.co.uk/santander/ I've tried this before and Santander screwed me about for ages as they had failed to properly close an account i had with them years ago (A&L). Will not go with them again. Get 5% in NS&I and up to 15k.
  6. Thanks for the alternate view, good to see some possible advantages for equity release. The only problem here is the chance of house prices falling at a rapid rate. This is the biggest argument I see to equity release at the moment. But I would like to be able to at least give some positives to equity release so we can have all the options mapped out and make the best decision.
  7. LOL yeah I would be up for that, but we would have to put up with the old man moaning about his lawn
  8. like your thinking. He already considered and looked at planning to reduce the property and double garage to build an additional smaller property on the land, although this would have been in an attempt to keep the current home. Ultimately this isn't going to happen as he is just too old to start a project like this. So as you suggested in point 1. to build a sole new property is also not viable. Point 2. is something that I have thought about, one of my siblings family could even move into the property as one big family, but this is me thinking and would never work in reality. As for buying stakes in the home, sounds good but I guess that would mean matching the amount he could release in equity? If so I don't think that would be possible. My thoughts, along the same line as yours, family steps in to help with costs or convince him to downgrade to home that meets his needs. Or downgrade, they are already looking at smaller properties, (but maybe another deterrent for him is it will cost him appx 20k to sell his current home?). I think downgrade is the simplest option and equity the last as cheeznbreed suggested. I would be cool to to hear suggestions on family intervention though, family covers costs, buy stakes like AK suggested, etc. And perhaps on the best way to sell and buy as that could be tricky at the moment, well selling at least. Thanks for all of your suggestions. @cheeznbreed, yeah that Volvo is indestructible! always liked the 850 too!
  9. Good idea on the in/out sheet, need to get a better understanding of the financials which will result in more informed choices - not always easy to get straight answers from parents though, they can be funny buggers! I think a smaller property will release enough cash to see them through, they don't have a 'lifestyle' so to speak. To give you a rough idea of my Dad, he bought a Volvo estate over 12 years ago for 4k - it is still the only car they own. They never go on holiday, in fact in my 32 years they have never been on holiday alone together, and in that time have only had 2 family holidays to Great Yarmouth when I was about 4.
  10. Thanks, Yes, I agree they should downsize. He built the property himself with land that he bought so there is a lot of sentimental value there. But with a property that big they are working full time just to do the upkeep, it's a bit mad! But we have a large family, I have 3 brothers and 3 sisters, 10 nieces and nephews, so I think that's another reason my Dad wants to hang onto it, because it's still the family home.
  11. Another post just appeared on this topic: http://www.telegraph.co.uk/finance/personalfinance/consumertips/8661496/Pensioners-forced-to-release-equity-from-their-home-to-pay-off-debts.html (i couldn't add a comment). My Dad is keen on equity release and when speaking to him the other day asked my thoughts on it as @between you and me'. His tone was that of he's onto a winner and was expecting me to back him up and tell him to go for it, getting me on side. unfortunately for him my reaction was 'NO' as I remember past articles against it. He was pretty disgruntled at this and said I obviously haven't done my research, which is true. I would be really helpful if anyone has any opinions on equity release (considering the current state of the Economy and house prices), also reasons for and against. Any insight is greatly appreciated Non working parents on a pension/with money that will run out next year Low mortgage payments under £100pm Current ball park figure on property is £350k - 5 Bedroom Bungalow, 2 bathrooms, lounge, reception, front and rear garden, large parking area and double garage in Suffolk. Thanks for your time!
  12. Just this weekend speaking to the same people who a year ago were keen to see me buy a house (I decided not to), and both being home-owners in South East London (Plumstead & Lee) they seem all to aware that house prices have dropped and had no problem admitting it.
  13. What mentality? I have always recycled and still do, don't need 4 massive bins in the front garden to recycle. Second sentence was a question, purely out of curiosity.
  14. Not sure but I'm interesting in knowing, as well as the additional question I added above. As I almost bought a flat last year with a Post Office mortgage (BOI I believe?), what would happen if I did get that mortgage and Ireland defaulted?
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