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House Price Crash Forum

rit

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About rit

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  1. It depends on the size of the fund you have and/or how much you hope to save in the future. If you want to be able to make your own investment choices then Hargreaves Lansdown looks like a good choice as you can purchase Shares, Bonds and Investments trusts at reasonable rates. Services like Fidelity are more focussed on just unit trusts and if you try and do anything else the costs go way up.
  2. Not enough to fix the market, there are a number of problems with office conversations, the first of which is the original cost of the office as it will have included VAT - something that is not passed directly on to home buyers. So there are a lot of empty bad offices around the UK, but their conversion costs and locations may not be ideal for people. Also you do not normally end up with residential housing, but instead more 1 or 2 bed flats.
  3. It depends, if they both have 95% morgages then much of the income is used to pay the interest payments on the morgage which means no tax is paid. BTL's still receive morgage tax relief at the owner's highest tax rate, something normal home owners lost in the 80's. The logic is that they should pay capital gains on the sale, but if they move back for a few years they can get around this.
  4. To be honest we have over a year of major spin/bulls**t to go so expect a lot more daft statements and reports. If it gets to stupid the major financial players will just relocate their head office from being based in Scotland to being based in London and transfer all their asset management to England so protecting their investors.
  5. Unless something has changed it means that the current owners are in no real hurry to move, unless they only purchased the house in the last few years (if so the EPC is from a past owner). Face it once you have paid for the EPC (it lasts 10 years) you can keep putting the house on to the market at no cost and just wait for someone to pay what you are asking for - it wastes the time of the EA and any possible buyer who offers below the ticket price.
  6. It's only hyperinflation if prices are changing quickly over time. Items like Clarks shoes have been so costly since they became available in China. It's odd to think of Clarks as a high brand item, but thats how they entered the market and they have been able to maintain their price for many years. Another high brand product I've seen on sale over there is the Roewe 750 car, which has a high ticket price - we know it better as the old Rover 75
  7. This is a good write up http://www.fridaysmove.com/property-law-blog/simon-seaton/09/08/2009/sting-tail-fallacy-no-sale-no-fee-conveyancing
  8. In the past it was often quoted that 1.5-1.75% was needed to just keep up with productivity gains so logic would say that growth only happens above this rate (as productivity gains do not cause extra employment) - anything below means going backwards (so a recession). You can see why such a figure is not quoted much nowadays as it would indicate that things have not improved much over the last 20 odd years, which oddly enough is about right. If you take productivity gains into account it is quite possible to sustain a positive growth rate - it does not mean that things improve, but rather that they do not get worse.
  9. It's also detained here http://www.taxfreegold.co.uk/banksotherbritishdealers.html Background chat at the UK Parliament regarding the rules are detailed here http://www.theyworkforyou.com/debates/?id=1966-06-13a.1173.0
  10. The key thing is this is NOT a tax, its a reduction in the handouts being given to people. I currently know people who don't just have 1 bedroom free, but at times 2 or even 3. Unless there is a very good reason why everyone else should pay for this space (and being vert disabled seems a good reason) they should pay more. The worse case I know is a couple who pushed their 3 children out of the 4 bed house as soon as they could. The end result is that they have a nice empty house and 2 of the children are collecting housing benefit for the flats they are now in - nothing that large one is in a 1 bed flat on their own and the other is in a 3 bed share, but that's a total of 4 people with 6 bed rooms across 2+ homes, all dependent on benefits.
  11. The review. Does this scheme meet the key aim of keeping house prices high for the next 2 1/2 years or so? Answer YES Result will be to lend more.
  12. No problem here, they may find something of value that I was not aware of
  13. The problem is that the term 'self-employment' for many people is just a way to 1) Keep clocking up the NI payments at a very low cost 2) Generate income from Working Tax Credits 3) Avoid having to say that you are un-employed which can put up insurance costs. So if you have 3 children you can generate around £6,500 from mini cabbing or selling the big issue and receive about £11,500 from tax credits, it makes what people get from sitting around on invalidity benefit seem quite small.
  14. I think it relates to the diagram that can be found here http://yfrog.com/scaled/landing/878/dhaho.png It shows what the sample of people expect a pension pop to return vs what it is currently likely to return. - A lot of people will be very unhappy in the future. WhichAction's twitter can be found at https://twitter.com/WhichAction
  15. Since 2007 the value of the pound has dropped a reported 25%, so much of the inflation we have seen is just this loss of 'value' feeding back into prices. The people who gain are those who can hold a large percentage of their assets outside the county - so the better off who have assets in the first place are those who can end up gaining.
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