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thevaliant

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  1. Except that this is completely unfair. There are many reasons (and many good small businesses) not to incorporate but to operate as a sole trader or partnership. Are you suggesting ALL businesses should be via limited companies? And if not, what is the difference between someone who does have a few properties who runs it as a business and (say) a hairdresser? Why should the first be forced to incorporate and the latter not? And what about LLP's? Are they allowed? Or not?
  2. thevaliant

    Should Snp Vote Out

    There wouldn't. What the SNP (probably secretly) hope for is a UK LEAVE vote but with Scotland having voted REMAIN (Given we will get results area by area we will know this pretty quickly) which could be used to trigger another referendum on Scottish independence. Of course, this causes problems. If SNP supporters vote LEAVE, they increase the likelihood of an overall UK LEAVE vote, but also run the risk of accidently tipping Scotland to LEAVE as well.
  3. thevaliant

    Who's Afraid Of The Big Bad Rate Rise?

    A daughter.
  4. thevaliant

    Who's Afraid Of The Big Bad Rate Rise?

    No. I suppose we aren't (I have a panic over money). A 0.5% rise wouldn't worry me. 1% and I'd tell my wife and say FORCEFULLY that her (not insignificant) discretionary spending has to stop. 1.5% and I'd be looking at anything to bring other spending down (and remortgaging at a better rate). 2% or more would probably screw us. That said, I don't think it'd come to that. Our mortgage deal isn't great, but the loan to value is probably only 85% at the moment (and obviously falling) and the loan to income multiple for us is probably only 2.84. I'm not too worried. I just think our deal is rubbish (It's basically 3.49% over base) but I'm not fussed about changing it unless I have to and I am convinced if the BoE rate rises, then you will see the standard variable rates over base fall anyway (A quick google actually suggests 3.49% over base is actually pretty good at the moment - I used to have 2% over base but that was years ago on my first home).
  5. thevaliant

    Who's Afraid Of The Big Bad Rate Rise?

    I could 'take' a 0.5% rate rise. Anything above that and me and family are out on the street unless we remortgage (I am well aware that mortgage rates and BoE interest rates don't have to align) at a lower rate. Presently been slightly overpaying on the mortgage to give us some room if it does hit the fan. And this, personally, is why rates won't rise much, if at all, for several more years.
  6. thevaliant

    A First Time Mortgage At 50

    I think the age issue might not be that bad. Regrettably, it is the (good) idea of buying a short leasehold property with less than 70 years left to run. I understand that the council of mortgage lenders seriously advise against giving a mortgage for leaseholds with less than 70 years remaining. Perhaps he should consider a leasehold with an even shorter lease, say 30 years or so? Totally unmortgagable but the asking price should be so low he could perhaps be a cash buyer. There are (I regret to say) plenty of 'horror' stories about lessees not even realising they have a short lease until its far too late.
  7. thevaliant

    Mortgages For Ltd Companies

    They can take any view they wanted, but when they've tried it in the past, the courts have ALWAYS came down very firmly on the side of the 'company' being different from the individuals owning and running it. They have to. It would undermine the entire basis of corporate law and corporate entities if individuals could be placed in the shoes of the corporate entity instead. FWIW, it's these sorts of setups that are precisely why firmer rules or costs should be in place for Companies. I'd introduce a higher filing fee for the annual return, a late filing penalty for the annual return and possibly even a filing fee for filing accounts. Just more 'red tape' that wouldn't stop the likes of M&S, but would stop "Joe Bloggs Limited".
  8. thevaliant

    THE GREAT BIG FAT GREEK THREAD

    The BBC website reported that the drops were initially as much as 30%, "the most they are allowed to drop". Why are they only allowed to drop 30%? Smacks of China and 'it's illegal to go down' rubbish.
  9. thevaliant

    Why I Hate Estate Agents

    I understand that the deposit puts the owner back in the position they would have been in. If the previous tenant damaged the carpets, then they will lose part of their deposit. There is NO requirement for the owner to use that cash to repair/replace the carpets. So him getting the photos proves nothing.
  10. thevaliant

    Boy O Boy Are Some People Stubborn!?

    A 57 year lease is unmortgageable. It does say the lease is 107 years SUBJECT TO REGISTRATION (whatever that means - if it's been extended it should have been registered). If it's actually less than 80 it causes problems. A £2k a year service charge is also exceptionally high. It shouldn't be more than £1k by the looks of the property.
  11. thevaliant

    THE GREAT BIG CHINA THREAD

    The reality being, that if you are prevented from selling something you might want to sell (and has no other use except being traded) then it's value becomes nil, irrespective of whatever the 'market' might say it is. If you owned shares in a company, but weren't allowed to sell them and didn't receive a dividend, what is the value of those shares?
  12. thevaliant

    Open Days....why So Many ?

    It's worse than that. It's a lifetime lease if you're over 60! So it's £367,000 for (let's be honest) a 21 year lease (on average) or £550k if you want to buy it? Both are insane asking prices.
  13. thevaliant

    THE GREAT BIG FAT GREEK THREAD

    Easy enough, just ALSO include the words 'do not'.
  14. thevaliant

    1 In 30 £1 Coins Are Fake?

    £50m fake coins as opposed to the £350,000m fake printing? Don't really see the problem. If I get a fake coin I haven't noticed and usually end up just 'giving it back' to the person who gave it me in the first place (£10 note for the train - loads of change - change returned over the next two days). Got an obvious fake once - very useful actually. Stuffed it in the car glove box - very useful for the local supermarket trolleys which require a coin to release.
  15. So it's 80% discount in year 1 (great), 50% discount in year 2 (also good) and then back to normal in year 3? New businesses therefore go bust in year 3.
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