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Topher Bear

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Everything posted by Topher Bear

  1. THAT is offensive. You sir, are an over puffed wind bag. Your aversion to the suggestion that borrowers over borrowed leads me to the suggestion that you yourself over borrowed. I do not claim to know hammonds underlying loyalties or motivations, but if you read just the words that are printed you will see that he is not Shifting blame, but adding to those who should be blamed. I've said this before, but HPC is not what it used to be. It used to be a place for reasoned debate and mutual unhappiness. But for a while now, making a statement or comment which makes no comment on another poster, can lead to personal abuse and bullying tactics. This i can no longer tolerate. Without a public apology, i will leave hpc for good. I am no longer a prolific poster, and you may not particularly care if i visit or not, but in the past i was a respected reasonable poster, and my leaving will be a sad indictment as to the depths to which HPC has sunk.
  2. I don't read anything in hammonds statement above which suggests he does not blame the banks, he is merely saying that the borrowers also share the blame and haven't been blamed up till now. Are they being punished now? Not really, the overblown prices they paid have not gone down much, the interest they pay on te loan is minimal and they get to enjoy the fruits of that borrowing, including the non home items they borrowed for, holidays abroad, brand New 4x4, 50 inch mega hd tv's etc. And these same people say it was all the bankers fault... In this whole mess there are very few who were not to blame. One group not to blame are those who refused to play the borrowing game, and we can agree here that we have been punished the most. Although many of us have enjoyed greater salaries standards of living as a result of the boom.
  3. I don't know about 4G but if there is frequency leakage what about wifi connections? I have enough trouble with mind as it is! I doubt we will get 4G where i live. We don't even get 3G! We also don't get DAB radio. When they dvd to switch that over? This time i have the equipment but no reception!
  4. I hear you. In the same boat, nearly 40 and two kids. Renting is no life for a family in this country. My attempts to point out the issues to the government have fallen on deaf ears, so deaf it is clear they won't do anything to rock the btl boat. Personally i think we are on for a decade or two of gradual price drops, no more than a couple percent a year. In which case buy now or never buy, either lord a little equity or lord 10k a year to a landlord. Of course buying now is a risk, as we don't know what will happen, but not buying is a risk that prices don't change. We bought in Jan, but it was also part of a relocation for job to somewhere where rents are high. I gulp at the money i owe, and the amount of money spent on the house in works, but better for the family. Your choice, but watch that broker, may not have your best interests at heart.
  5. Those charts look convincing and we all know the evidence suggesting things are out of kilter. But i feel that there is some need for notes of caution. 1. Those charts have linear scales and so do not take into account inflation. If they were plotted in log scale, they would not look as overvalued. 2. Put yourself into 1992 and look at the chart again up to that point. I think that you might draw the conclusion then that there was still a way for prices to fall, and yet they only went broadly sideways for the next 3 or 4 years. 3. There is a growing bearishness in the media, which putting my contrarian hat on, suggests that maybe we are close to a local bottom.
  6. yes! And late at night. Stupid touch screen as well, which i hate, keep following net links when i just want to scroll around. Grrr
  7. Great, i will then know exactly how much tax to withhold to not pay for the military, being a pacifist and all that. Ill withhold the debt repayments as i told then not to get into huge debts, and also failed to benefit from that debt. This what will happen, lots of groups will start civil disobedience against paying taxes. It will be pole tax all over again. I also agree that it is a waste of money, the only reason the populace doesn't understand percentages is because of the poor education in this country. So he all this income tax is spent on these things, what is all my vat fuel tax drink tax etc spent on? And how do they know how much I've spent on these things? If this bloke in the article spends £70 on the eu then how much does he get back from the eu? If they want to raise this debate then we need all the info otherwise it is just gossiping over the garden fence.
  8. Is their worry that you have a high level of knowledge about bcap which guess is the radio advertising code? Or is it that you used the words 'leverage' and 'high risk'? After follow their little game, you could tell then your only vested interest is in wanting house prices to fall to a reasonable level such that you could actually before one. Bed also that you are am intelligent member of the public who has a natural risk aversion when it comes to large investments and he that prevents you from being a member of the public then you will take it up with your mp.
  9. Agreed. Our recent purchase (i know i know. But i have my reasons) was for £180k. The survey had a rebuild cost of £120k. My calculations of a 30% drop from peak, would put Its value at about £145k. That's not a lot of value above cost. I figure that we have had massive inflation that has been very cleverly disguised. So in real terms we have already had the major part of our crash and now we have the long period of flat pricing. The longer they can hold prices up the easier it becomes, as on a repayment basis, it is possible to pay off a reasonable proportion of the loan. And they have kept this up since mid 2007. Even he you pay end of 2008 to allow for The crash we did have, that is still 3 years, even the high ltv could have an extra 10% equity, meaning we need the crash to go further for it to hurt people into ne. Personally, i don't think we will see any more significant slides, unless global financial armageddon re surfaces.
  10. Why so much complaining. I thought our group perceived wisdom that our current financial crisis was as a result of too much lending at too low rates. Now someone whacks up the rates and its now bad! Maybe he inherited a lot of bad debters and he wants to get it resolved one way or the other to clean out his New bank. A fresh approach, make discretionary lending expensive, offer good rates to savers, keep capital in the bank for when it is needed for those large items like houses and cars.
  11. Interesting point. Trouble is we need to work out what there turkeys consider to be Christmas. Is it that they don't want the value of their cds to become worthless, is it that they don't want to have to pay out on their cds, is it that they don't want other countries to try and force them into accepting lower payment terms, is it they want to work out the bigger picture and do what's best for them over-all, or some other decision? Tricky, anyone got any insights or figures on what there banks are on the hook for? To me the whole thing looks like a big loser for banks, so why aren't stock markets falling anyway?
  12. I think most of us in that short category of only just being in higher tax bracket are still being misunderstood. I am not complaining that i am losing child benefit. I agree that We don't 'need' it. I am complaining about two things. 1: why should someone earning only £42k have a net income of more than myself earning £43k 2: why should a family with a gross income of nearly £80k qualify for a government benefit that my family with a gross income of £43k not qualify for. There are the inequalities of the proposal. We are arguing in particular that issue no 2 should be resolved such that the higher earning family don't get cb either. We are not moaning about losing the benefit ourselves.
  13. I agree that they ballsed up big time on tuition fees. i don't think they stood chance on getting their euro opinion heard. It is so opposite to Tory view, any shift in lib dem direction would be bad for cons, and lets not forget the cons have far more mp's than lib dems so it is right we get more Tory policy than lib dem. As for two, this was all conservative doing. They pushed it for it to be early, they decided what system the vote was on. They controlled the media and thus the populace vote. They managed to split the reform vote into those who would agree to even a small change and those who said it wasn't enough so voted no or abstained. The whole thing was such a manipulation that it destroyed what little faith i had left in politics and democracy that i won't be voting ever again, unless it is to revert back to a system where the populace does not get a say. It is far too easy to manipulate the people who are on the whole too thick to understand the wider implications of policy. Public opinion "led" policy has allowed this return to a feudal system and stew still don't understand how everyone's lives have been turned into practical slavery and effective terrorism to toe the line. We are no longer a free people. Freer than some I'll grant, i am free to type this after all, but be sure i am a marked man! Our schools and now universities are being turned into factories to churn out workers for industry and business, they are no longer institutions of learning for learnings sake . We all have to make money, for share holders who do nothing but buy peoples lives, thus we are slaves to be bought, sold, used and thrown out when we no longer work for their system. Sorry about that, got a little carried away.
  14. Yes, but at a reduced rate. The initial forms were past of freshness pack, after that it was down to the council offices to apply for reduction and pay. Large ques at the office at the beginning of term!! Fun days, but at least we got a small grant and the loans were only about £500 a term.
  15. Just bought two pairs of shoes for our two children, cost £77. We couldn't get sale ones for my daughter as they weren't in her size and we decided not to get the sale ones for my son as they were only just fitting meaning he would grow out of them very quickly. We have tried that before bed found it a false economy. We have also tried cheaper shoes stanzas Clarkes but they don't last. We have found startright are home quality shoes which last and fit well without stupid gimmicks designed to encourage pester power. Basically children's shoes are as expensive he not moose expensive than adult shoes and need changing more often. Re: price of pushchairs. The prices have more than doubled between 2002 and 2009 when we were looking for our two children. All the other essentials had also gone up a lot. We made do with a lot of second hand stuff to keep costs down. So yeah, all this extra child tax credit has pushed prices up. Is it any surprise that the cost of childcare is high, you are paying for someone's wages, so what is the point earning a wage when all you end up doing is paying it straight out to someone else who isn't likely to do as good a job as you anyway. Childcare is hard work, i know, I've done it for nearly two years in the past.
  16. I agree that it is right to take cb away from higher earners. We are in the situation of earning just over the revised 40% threshold, and my wife a stay at home mum. I will accept losing it but not when a dual income family earning lots more than us still he get it. Without alteration, there will be a large pay desert, where people will not want to earn between £42 and £46k. At the moment he i start the company pension i will actually be better off plus get all that free pension money. One alteration should be a tapered reduction, although more costly and difficult to do. I agree with the suggestion of adding cb to the tax credit. Meter understood why it wasn't done before. This would produce the fairest system of all, but my opinion of those running the tax credits is worse than in the gutter after my experience, but the two offices are linked already whatever they say, it is the only explanation of how both changed my child's date of birth at when same time! The suggestion to add it to the tax free allowance is a good one. This could introduce a taper in some way as the amount added need only be enough to bring someone under the 40% bracket. This will still bed a little money into the dual income household, but alloy the single income to retain cb. Another approach i like is the conservative election policy of tax allowance transfer for married couples. This will help only the single income household. There will be issues over the married part, but i believe that they won't be legally able to restrict it to married couples only, in which case everyone is a winner. Keeps the simple cut off method, and the extra admin can't be that high as they need to do a partner check anyway.
  17. just receiving a letter to the occupier does not mean that the bank is aware there is a tenant. This standard policy just in case, maybe even a legal requirement. I do believe that there are new laws which give tenants more time to post things out, but if you want to buy the place, its worth asking the question of the bank, they can only pay no. Get proper advice from shelter or cab about continuing to pay rent and deposit. Not saying rent may leave you open to claims from landlord, but in his financial position i doubt he would be able to even he he was allowed. Deposit should be with a deposit scheme, so shouldn't be a problem. He letting agency suggesting not to pay, then they are at least on your side, no worries about references. One repent time the letting agency was so pee'd off with the landlord that they have him less than a days notice from receiving checkout report to authorizing return of deposit! Good luck with it all
  18. I wrote to him last year on this very issue. Got a brush off. Basically they are not interested as it would upset the BTL applecart ("Doing the changes I suggested would reduce the amount of rental property on the market at a time when rental demand is soaring" . to paraphrase what was said.) I also sent to No. 10, who forwarded it on to Communities and Local government, who said the same thing. The copy I sent to my local MP, Duncan Hames, was considered more openly, and forwarded on to Ministry of Justice. They forwarded it to Communities and Local Government who had already replied. In the letter sent to my MP from Ministry of Justice it said "After consideration the matters you have raised about Tenancy Laws is no within the remit of Ministry of Justice" . "No" within the remit? Our country is being run by a bunch of Illiterates!! (and thats coming from a scientist/engineer with poor spelling and grammar!!) My MP has now forwarded it on to Grant Shapps office... Its a political hot potatoe that no-one wants to deal with.... Does anyone have a contact e-mail for Julian Knight at the Independant (who wrote the OP article) Since I have direct experience of exactly the sort of problems he was warning about, I felt he may be interested in hearing my story and getting this issue more publicised....I'm sure kicking out pregnant women from rental homes for no good reason, SHOULD get a public response!! (BBC weren't quite interested enough). I've not been able to find a clear contact address for independant....why is there not a "Have you got a story fr us? Something that you think might help us sell more Newspapers without us having to dig around and waste our precious time?" address? strange.
  19. Agreed. If you have 10k for deposit and want to buy, you could only get a house for £100k which means nothing for most, but under government scheme, you could get a £200k house, which may be a small 2 bed New build. So no it is popular with the masses. Trouble is, like all there schemes a few years down the line, and there buyers are in trouble. As we all know, throw extra mortgage money at a market and prices will rise, therefore the disconnect between New and old properties will grow even more, so when they come to sell, they will find that they can't get anywhere near as much for it as whew paid. But with only a 5% equity to start with there are going to be a lot of negative equity about. I am not fully familiar with the government infinity scheme, but usually the insurance covers the bank and not the mortgagee. So either many people will still find themselves in trouble or if the government really is covering the risk themselves, them even more losses for the public purse. Either way it is another mis selling scandal in the making. When will we ever learn!
  20. I like this idea a lot! Will provide the housing for those hoping to be ftb someday, along with security of tenure, plus the possibility of buying the property that you have made your home. Now perhaps someone else can explain why this wouldn't work in the real world? What are the unintended consequences?
  21. I believe that in the us mortgages are fixed rate for much longer periods than the UK, so not as many homeowners got breathing space with lower mortgage repayments. Also as was mentioned in the states owners can hand the keys back to the bank with no further debt to pay. Over here, you get repressed, bank sells house for peanuts and then chases you for the amount of debt not paid off by sale of house. Unless of course the bank has indemnity insurance (like the government want to pay for to allow 95% mortgages) in which case the bank still gets its money back and the insurance provider chases you instead! In other words, in the UK it is not in your interest to let the house go easily, in the US it becomes a financial calculation and at some point it is cheaper for you to walk away and start again than stay . So the US has a system which actively encourages house price capitulation as for the other comments about differences in qe between here and there, I've no idea of those impacts.
  22. We did send off to them to get on the show back in the summer as we were looking, over a wide potential area but with a budget of 'only ' £180000. Didn't hear a dicky bird. Bought something on our own in the end.
  23. that's not quite true that there is nothing you can do. First up, moving on out is the best thing for you. But before you go talk to the police, they will advise if you have a viable complaint. Have you kept the texts and notes? Important that you have. Since your landlord is in a position me power over you, his behaviour must surely be criminal. Talking to the police will certainly bring him to their attention and result in a warning at the very least. Next up, talk to shelter and their helpline. You will find them very helpful and supportive. they will be able to telling also, he you can get him with roof form of injunction to stop him renting out his property again. Try and get as much me this done before you leave the property, as at the moment he is your landlord and you have a contract. Hopefully it will still count after you've left, but we had trouble making an official complaint about unfair contract terms once because we had not signed up to it! Let everyone know what the police and shelter say
  24. Also quite good for pen drives and memory cards. on a par with supermarket but usually a bigger range and better makes. Ours is a small store, but they still try to stock all the stuff. Would be Better if they concentrated on 2 or 3 types only.
  25. There is indeed a lot that doesn't work for a flexible labour market. We have been very flexible over the last decade. Our experience is not great. Not only is the financial cost of moving about the country very high, the social cost of not being able to make good friends you can see regularly. The social cost to our children has been highest of all. The latest problem we have is over the lie of school choice. There was a time that when you moved to a new village your children would go to the village school. Not now. Now you have to apply for a place and then get turned down as the school is 'full' and get given a place at the only one with a place for miles around, the tiny one that no-one wants to send their child too. Flexible council tax exists at the moment, it is called council tax benefit, and is one of the benefits blamed for making work not pay. As for flexible credit, that might only work if repayment were made quarterly or annually. Without regular known payments creditors would not lend.
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