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spyguy

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Everything posted by spyguy

  1. Tax credits, mainly. Combined with very poor educational achievement for the bottom 50%
  2. God that thread's funny. If WB are so bad why don't they move? Yes, I do know the answer. Do these people not read the T+C's on their mortgage? Do they not understand that BoE base rate is not the rate by which banks fund their lending. Yes, I know the answers to those questions too. The people on the link don't though - despite being 'professional' landlords.
  3. Capita is the 'under the carpet' option of failed corporate strategies. An organisation - public or private - makes a big hoohaa about entering a market. Then fails and loses buckets of cash. Then tries to sell the business as a going concern. Competitors don't touch the business as its 1) a mess, 2) unprofitable 3) hoping it'll go under so they can raise margins. Company panics. Company approaches Capita. Capita ask for big wedge to continue operation for 5 years. Capita promise they can run the business and will keep staff. Business goes to Capita. Capita make original business look like operational geniuses. 5 year grind starts. Capita sack staff. Capita gouge customers. After 5 years, Capita pay the remaining customers to go somewhere else and close the business.
  4. No. In the case of Sweden, its a very hard system: you work or we hassle you forever + ever + ever. 8 hours a day. They do the hassling smiling but they are on your case. The Swede expect anyone able to work to work. You are confusing Nordic collectivism with British Labour client-state voting block.
  5. Cost of flushing fish down toilet - £0. For everything else there's Mastercard.
  6. 6 years of low IRs. Anyone with a thimble of sense should have been throwing the everything at that debt to get it down. I think these people would just struggle full stop. Saying that, pre- MMR did see some stupid loans being made. My favourite is to a couple I srot of know. Her - 25, ex-hairdress of 2 years, now working 1 day a week @ NMW. Him - 27, general drop kick, contract in social enterprise. 22K Mortgage taken out Jan 2014 - 180K.
  7. Strange that. Making people pay for what they consume - and only if its a small percentange of the cost - suddenly reduces demand.
  8. I'm a houseprice.io fan too. Its a greta counter to the EA BS - 'poplular place, houses flying off the shelf, etc etc' A quick enter of the postcode and you see reality in all its illiquid, falling form.
  9. Pah! Amateurs! http://www.rightmove.co.uk/commercial-property-for-sale/property-34885349.html Listed for 3 years. Then take a big bite an knock ~25% off the price. Price changed: from '£495,000' to '£374,000'
  10. Still good tips on picking up women: 'His barrister Alasdair Campbell said: "There is little mitigation in respect of each offence which I can offer," of the £144,000 frauds. He said of the "hundreds of women" contacted by Brudenell through the Sugar Daddy website, only four had said he had defrauded them.' The tips I'm coming away with is where a blazer and pretend I'm rich. Can't fail.
  11. My mum (late-60s) goes 'Oh, Mr XYZ has a nice car. He most be doing well.' Whereas I tend to judge cars as money pits. In the old days you spent a fortune on maintenance. These days you spent a fortune on finance just leasing the car. The days of having a fully expensed company car are long gone.
  12. Its a story that keeps on giving: http://www.yorkpress.co.uk/news/11587381.9_years_in_jail_for_disgraced_businessman___Womanising_fraudster_was_offending_until_hours_before_court_hearing____I_feel_sexually_violated___says_one_victim/ 'The former Ryedale businessman also operated a building company illegally, defrauding people over house improvements, and arranged for the home of one of its clients to be turned into a brothel while its owners were on holiday. One family was left so poor they had difficulty visiting their teenage daughter who was seriously ill in hospital.' 'Guy Brudenell, 44, charmed women into handing over tens of thousands of pounds by having affairs with them after contacting them through the Sugar Daddy dating website, said Nick Dry, prosecuting. He claimed to one woman with whom he had sex that he had bowel cancer, and dropped another when he realised she didn't have more money to give him. He continued offending until just hours before a court appearance for other offences.'
  13. Are you seriously thinking a bank can convert a mortgage to some sort of illiquid, lifetime tenancy agreement? In which case, that banks would instantly be tied up - a bank wuld need to retain all the vlaue of the loan rather than a percentage. That's nut. Its just not possible. As far it being different. global enconomy and all that - countries do not trade housing. Price of London of property is not affected by housing in County Durham so its not going to be affected house prices in Berlin. Trade still makes up a small part of a countries economy. The largest part is made up of local consumption. I did have to check Cozza's profile to make sure it was not a troll. As far as this concept that you muddle through and not change, might I remind you all that today (or near today) is the 25th anniversary of the Fall of the Berlin Wall. Things looked they would contiue forever - until they all changed.
  14. What do you think happended 88-96? SE/London saw about real fall of 50%. The economy was great from 94 onwards.
  15. Dinner Party Live. In joke about any mention of house prices.
  16. Flâneur Le Crunch part deux - BBC R4 yesterday had a phone-in about mortgages. Without exception (the ones I heard) were owner occupiers on Interest Only mortgages, now trapped and unable to change lenders. IIRC almost 50% of mortgages between 2000-08 were interest only. That means that for over a decade some people havent even been paying their mortgages down. There is big, big trouble brewing here.
  17. Here's the blog post. http://ftalphaville.ft.com/marketslive/2014-11-06/ The relevant comments are made by a posted called 'Flâneur' I've heard + seen similar. Its good to see its not just me: Flâneur First things first. I am hearing of a notable upswing in commercial property transactions lately. This of course is a key indicator of stress in the Tory Burgher constituency. Private pension funds have been drained of withdrawable cash. So the holders are now trying to get cash by borrowing against properties held in pensions. This results in the property being 'sold'. Payments must then be made into the pension fund to service the mortgage on a regular basis. Its a short term fix..... Flâneur There is a serious cash-flow problem in the middle classes. Commercial property is being liquidated to fund lifestyles as 1) new pension regs arent in yet and 2) professional businesses are not back to pre-2008 turnover levels. Thats the first part of DPL.... the prefessions are getting squeezed badly and liquidating down.
  18. Homer: ' Can I have a loan Mr Burns' Mr Burns: 'Do you know the meaning of usury?' Homer: 'No' Mr Burns: 'Excellent! Sign here' http://ftalphaville.ft.com/2014/11/06/2032842/dear-ireland-take-the-bailout-yours-jean-claude/ https://twitter.com/gavinsblog
  19. Is Wellesley & Co Authorised and Regulated by the Financial Conduct Authority? Wellesley & Co have been authorised and regulated by the Financial Conduct Authority since April 2014. Wellesley & Co's registration number is 655503.
  20. Are my funds protected by the FSCS? Although peer-to-peer lending is not covered by the Financial Services Compensation Scheme, at Wellesley & Co our customers are eligible to apply to our Discretionary Provision Fund if any borrower fails to meet their repayment commitments. Furthermore, every loan we make is backed with security over property in the United Kingdom which could be sold in the event of a borrower defaulting.
  21. Just seen the Wellesey ad - which is rare for me as I rarely watch live telly. Tone + feel was building society. Even the logo. https://www.wellesley.co.uk/ Offered 4%, rising to 6% on your money. Wow! Thats good for a BS I thought. Quick google - Wellesey are a peer to peer lender. Can they really make claims like 4%?
  22. > western and southern Europe, was now extraordinarily high and higher West, meaning Germany and the Low countries, then yes, well educated. But I only meet a few of these doing professional jobs. Southern Europe - Spain, Portugal, Greece and S. Italy - higher education is cr.p. They've all trained as Lawyers, badly. 100s per lecture room. Bribes to get the degree. I've only met these as barristas rather than barristers.
  23. It picks very poor dates. One, tax credits did not ramp up to there full 16h work for 25K income until the 2005ish. Romanians have only just started coming across. I'd argue there's nothing wrong with our immigration policy. Its our stupid, non-contribution, needs-based benefit system thats fcked.
  24. No. The BoE is acting as the market. The Boe is suppressing the price signal - bit like feeling OK when you are pumped full of morphine. Unfortunately is not doing anything about the need for morphine - just crossing fingers + hoping for the best. The active market does not care at the moment - its mainly influenced by the Fed. When the Fed stops buying, the market will stop buying. Its a bit like Greek's bonds - the market was right until it was wrong.
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