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House Price Crash Forum


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About wheresitgoing

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    HPC Poster
  1. Hi just a few thoughts from my own experience working in leasing a few years ago 1. Leased vehicles are NOT subject to VAT as they are owned by the lease co - that gives them an instant 20% discount to play with - not to say the bulk deal discounts with manufacturers 2. All leasing companies are owned by banks - e.g. Lex is Lloyds and returns are huge - e.g. I could see the huge differrence on borrow rate vs lending rate on the system 3.Included maintenance is a huge source of profit for the leasing firm as they bulk negotiate huge discounts on things like tyres and maintenance - which are a ripoff in the uk but they are passed onto the lease consumer. Also cars are too complex for cheapo joe mecanic to fix - for decades now, you need a laptop to service a BMW. I think the mugs are members of public who buy their own tyres for 150 a corner and pay 200/hr main dealer labour rates when a lease co pays a fraction of these costs. 4. I've always been of the "buy a used car and run into ground" but I have had odd 1-2k bill here and there Also with cam belt changes and dpf and it is a serious risk. - I'm not sure people do keep track of the real motoring costs. 5. A plug in hybrid is an fantastic company car tax dodge. the PTB will soon change this so enjoy while you can 6. All returned lease vehicles went straight to special auctions - often within hours of the vehicle being returned and inspected. Vehicles can be sent to areas where they fetch higher prices - all worked out by computer. Although I did hear ideas of converting some cars like Citroens to LHD and flogging in the continent - must be low volume if this really happens 7. Yes I agree that there was a concern of a rush of such vehicles hitting the market following the APPRECIATION of used cars that took place during the recession years which bolstered lease co profits yet further then. Don't worry - new diesel and petrol regs will trigger a rush on new vehicles. 8. Soon, you will be considered a mug following my old tradition of running a car till it does not run. Many of us on here think renting is great so why not with cars? My next car will be leased with maintenance - fixed price - NOTHING to worry about
  2. What about the fact that Brexit will only stop roughly 50% of immigration but wont stop Russian, Chinese, commonwealth etc. immigration (and house buying) from outside the EU? Also, once EU immigration has ceased, won't successive governments just reverse the downward trend for non-EU immigration?
  3. C4 is owned by the government - http://en.wikipedia.org/wiki/Channel_Four_Television_Corporation
  4. On zoopla, use the usual rent search but reduced after location e.g. min beds = 4, location = sw17 reduced this brings up about 107 reduced properties.
  5. Interesting idea for a post but are these a fair comparison? Vancouver is a much smaller (and I think nicer) city than London. A quick check shows that Bayridge would take 1-1.30 to commute on public transport. But East sheen is 22 mins from Waterloo. If you took your 1M out in the home countries with a 1hr commute, I'm sure you could find a comparable property to the Bay Ridge one. I suppose it tells me that gap between UK and Canada house prices are a lot closer than I thought.
  6. Is 65 miles considered commutable from Toronto? I'm sure there are plenty of 4 bed properties 65miles from the centre of London for under £200k !
  7. Miras would level the playing field with the BTL brigade.
  8. I wonder if new London purchases by offshore companies has slowed down with the new taxes kicking in? To start with 15% SDLT, then annual property ownership tax of 15K - £140K. Presume the rental income is tax free as offshore? When they exit, they are subject to CGT. It does not seem to add up having offshore companies any more. SO what are they doing instead, individual purchases with all the problems of personal taxation on BTL income? or IHT on HPI? They can avoid CGT by declaring it their residence. and the concern about longer term currency devaluing. Just does not seem to add up why so much money continues to be poured into London
  9. The banks have already shed 30% of staff ((link). In a city of 6 million, this has not made any difference but from personal experience, the vast majority of these staff are the 30-70K level backoffice type roles gone to India. And, I have to say, again from personal experience, most of these are mainly Essex but generally home counties commuters with generally only the young 20s/30s renting in London. Many of these guys got good payoffs when they got the boot so they are doing something else on a lesser salary or just living off the payoff? But whatever they are doing, they dont seem to be dumping their properties. Anyway, an excess of rentals in premium areas is good news for the benefits people who formerly enjoyed living in prime areas but had to give it all up due to the cap. Maybe they can afford to return to their former residences now that the rent has collapsed if it has collapsed 25% and more falls due. Some sort of floor will be hit at the HB level.
  10. I wonder what proportion are Euro vs Far Eastern investors. You can guess that Euro investors are hedging against a currency breakup or savings haircut. But whats in it for the Far Eastern guys? There must be loads of things, property or other related, to invest in over there - new factories, business, even opening up a bar or shop has got to be a money spinner when their economies are growing at 5-10% and people are positive about the future. Ok, if its devaluation of the GBP making it cheaper, then surely, this devaluation will continue long term making it difficult to repatriate the profits in the future? Must be some kind of bubble related euphoria kicking in.
  11. Thats probably another reason - these investors probablty have more trust in british home builders than Spanish, Dubai or other places that offer new build "opportunities"
  12. Arent London rents falling? this would reduce the speculative interest from a BTLer unless they werent in it for just the yield e.g. just parking cash and they just need a trickle of rental income?
  13. Just going off topic slightly - I have been in IT for 25 years and the last 3 years have been appalling - with plummeting rates and serious "competition" from India. IT is (and always has been) very cyclical - 6-18 month cycles dependant on the IT investment fads of business and this year - we appear to be taking a big dive again. But I dont believe this is linked to the wider service sector - e.g. the dotcom crash in 2000/1 was devastating to IT workers (it was an IT recession) but no-one really cared then as wider Service Sector carried on.. Lets go back further - 89-92 was the last big recession yet was a boom time for those of us in IT.
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