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Posts posted by spyguy

  1. Err, its just a bit of half arsed lobbying andor Sunday properdee/personal finance  filla.

    Does the article want  the BoE allows more people to borrow over the ~4.5 limit set by MMR?

    At the mo, most banks dont go near the MMR limit i.e. MMR allows banks to lend more in specials cases - but there just does not seem to be many special cases.

    It just seems that bulk of people pay off mortgages with their hard earned money, so MMR limits apply.

    Or does the article suggest that the max MMR limit of ~4.5 should be bumped up?

    Again, nothing.

    Just some vague blah blah blah ... lend more.

    Surely, no that the great moderation i.e. China exporting disinflation is over ad prices shooting up maybe the BoE should be looking to reduce the MMR lending limits?




  2. 1 minute ago, Pop321 said:

    I have had this. It is very rare…really they need to move out into temporary accommodation because the deal is done  

    If they don’t move out it’s breach of contract and current owner can be sued for all costs incurred. Might take a few years but the buyer will win the case plus costs  

    In my case I just got the deposit back and walked away….couldn’t do with the owner moaning how they were doing me such a big favour selling in the first place. For interest the seller at that point had the choice to return my deposit or enforce it and make me buy. 

    My iniitial response would be - What in unting fk.

    F9ollowed by what in fk are the solicitors doing?

    The sellers solicitors should be round there dragging the seller out of the house, explaining that the house is sold and its not theirs anymore, its gone, sold.

    If the seller has completed, then decided to stay then they no longer have a house and face a very large legal bill.

    What in fk are they thinking?

    What in fk are the solicitors doing?

  3. On 11/11/2021 at 19:29, Roman Roady said:

    23% off in Scarborough




    Price Change History
    11/11/2021 Price changed from £240,000 to £185,000
    10/09/2021 Initial entry found: £240,000

    It's an OK house, central, far back from a spoons.

    I prefer Royal crescent.

    It's going to shift closer to the 2001 price than the initial listing.

    Hefty reduction, in only a few months.

  4. On 11/11/2021 at 14:32, Si1 said:

    Not sure shed have read mumsnets, which is aimed at more southern and older mums.

    "I have had two other premature children, so I knew what I was expecting, and what the risks were.

    Shes 22, Blackpool, already popped out 2 other premature kids before 20.



  5. Two more -

    EU citizens more likely to experience rough sleeping in UK than others

    Crisis charity’s research finds job loss is main reason for European citizens becoming homeless in Britain


    Put them o nthe first bus or plane back. Bill the embassy.

    Exactly what happens to Brits in Europe.


    Britain's population could be 400,000 higher than official count: Number of EU citizens living in UK is 'up to 20% above' government estimates, Oxford study says


    20% of 6.2m is ~ 1.3m not 400k.

    The UK has been hosting, at great expense, around 8m EUers.





  6. On 08/11/2021 at 12:16, Si1 said:

    Daily Mail: Lenders could go bust in cladding crisis if victims default on mortgages, Bank of England fears.


    Iirc only 2 banks sell majority of HTB mortgages.

    Nationwide and Barclays.

    So, yes, it's looking touch n go for NW. Again.

    The Tony, large deposit, high earner NW mortgage a la late 90s is long gone.

    NW book us made up if IOBtl and HTB.


  7. Painful reading. Confusing numbers.


    The cost of a typical two-year deal for homeowners with a 35 per cent deposit is now at an eight-year high, according to data analysts Moneyfacts.

    A typical two-year fixed rate for borrowers with at least 35 per cent equity in their home is now 2.5 per cent – up from 2.11 per cent just last month and 1.99 per cent two years ago

    Those with smaller deposits already pay higher rates because they are viewed as riskier – so it will take longer for rate rises to filter through

    First-time buyers with deposits of just 5 per cent have actually seen their costs fall since last month.


    For them, the average two-year deal is now the cheapest it has been since February last year.

    It fell from 3.32 per cent in October to 3.22 per cent in November. The average rate on a five-year deal was also down from 3.63 per cent to 3.51 per cent

  8. 23 minutes ago, Roman Roady said:

    I think that they all go to auction on Nov 30. These reductions are not the only ones either, there are loads of similar ones at approximately 35k…so I would guess that auction will be interesting.


    I was there a few months ago and although it is an old mining town, there are worse places to live; countryside walk, country park, the Durham coast, good road links…might even be rail.

    The standard  price for getting out of an ill advised IO BTL in a CO Durham pit village seems to be about 40k i.e. thats the loss of the price paid in mid 00s.

    God knows who much money has been lost during the rental.


  9. Yep.

    Id bet big money its all IO BTLers.

    These sales will have been preceded with IO BTLer going to an accountant for the first time, handing over the info and being told how much tax they owe.

    Id also bet big money on these being bought from portfolio building companies.

    Still, therell be no capital gains due - every cloud n all that.


    Just to check - first post street -


    Go back to the mid 00s and youll see a lot of sales, then no sales, then sales at large losses.


  10. 1 hour ago, TheCountOfNowhere said:


    Interest rates: why the long era of ever-cheaper finance is finally over

    Bank of England is warning that hikes are ahead as inflation soars


    If anyone is reading these headlines ( doubt they are ) they would be slightly worried taking on a half million debt to buy a crap hole in Daventry

    Ah, and know the run into the limits of their gormless stats.

    If Joe Pleb working for X co gets a 10% pay increase then thatll be recorded as an increase.

    If JoePleb goes to work for Y co for 20%, more then back to X co for another 10% then it wont.


  11. 19 hours ago, TheCountOfNowhere said:



    "Figures show the Office for Budget Responsibility – the public body responsible for ensuring independent economic forecasting and analysis of the public purse – expects the interest rate on UK mortgages to hit 14.8 per cent by the second quarter of 2023."


    Dont they mean 1.48%

    If that comes to pass, it's brown pants time for millions of idiots.

    Its the I/Indep -fk know what they ever mean.

    Written by a bunch of daft Marxists work experience kids.

    Mind you, rest of th media is just as bad when it comes to properdee and IRs.





  12. 2 minutes ago, Roman Roady said:

    20% off of a 4 bed semi in Alnmouth on the Durham coast




    Price Change History
    15/10/2021 Price changed from £750,000 to £600,000
    20/08/2021 Initial entry found: £750,000

    Coming from Whitby Ive seen plenty of 'ambitious' seaside pricing.

    But Ive not seen anything as ambitious as this one.


    03/09/2013 £555,000 8 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    31/08/2007 £635,000 8 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    13/08/2007 £58,350 3 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    24/04/2003 £305,000 8 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    14/04/2000 £140,000 3 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    14/04/2000 £135,000 5 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    04/10/1999 £125,000 5 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    07/06/1999 £121,500 2 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    07/03/1997 £73,000 3 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ
    19/04/1996 £84,800 5 Lovaine Terrace, Alnmouth, Alnwick, NE66 2RQ


  13. 1 hour ago, Speed1987 said:

    Following the rates vote last week, Mr Bailey said: 'None of us ever said – I never said, none of my colleagues ever said – rates will go up in November.'

    Traders were burnt from the expectation that rates would rise...

    Banks made a profit, on the expectation that rates would rise, rising their rates.

    The majority knew as I did, rates were not going to rise.

    the vote wasn't even close 7-2.

    Group think/not rocking tge boat.

    Prices are shooting up, doubly so now pound has fallen.

    BoE needs to get ahead of FED and reinstate the 1-2% base rate premium over Fed/US $

  14. Bank of England head insists interest rates will rise in the coming months

    Andrew Bailey defends central bank’s decision to not act yet


    Bank of England governor Andrew Bailey insisted on Friday that the UK central bank will not “bottle it” when it comes to raising interest rates in the coming months. The governor said the only reason the BoE surprised financial markets on Thursday by holding rates at the historic low of 0.1 per cent was that it wanted to gather more information about the effects on the labour market of the end of the furlough scheme in October. Bailey did not give an indication when the central bank would start to raise rates for the first time since 2018 but was categorical that they would rise, leaving little wriggle room for him or the bank to change its mind. “We do think interest rates will need to rise and they will rise,” Bailey told the BBC’s Today programme, adding that his clear commitment to higher interest rates was meant to be heard in financial markets and the country. “That was deliberate,” the governor said.

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