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qejunkie

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Everything posted by qejunkie

  1. Disagree. Pensions always have the moral problem of being tax deferred. LISA, you get your tax break up front and is funded from taxed income. Therefore what you have in there is more likely yours at the end. I would prioritise LISA over a SIPP for people under 40. Odds of them getting to retirement without private pensions getting raided is quite low.
  2. Yeah already booked in. This isn't my first Rodeo.
  3. Update - I exchanged the other day. Found my dream doo-er upper. Small detached house on a big plot in the exact location I want, near the wife's tennis club and the kids future secondary. Was a probate and it is totally wrecked. House on identical plot a few doors down sold for 60% more than what I am paying, 4 years ago. Reckon I will spend around half the difference on major building works, total strip out and full renovation. Good luck everyone.
  4. Vue is owned by Warner Brothers. It is a cost centre not a stand alone business. Cineworld on the other hand....
  5. You can tell from those beams it is a beautiful period property. Full of character......
  6. I mean the rent per month LESS NOTHING vs. the last asking price (he didn't achieve). So you need to adjust for wear and tear, letting fees, TAX etc. Tier 2 restrictions probably moved that gross rent closer to 3% or possibly less than 3%.
  7. Maybe London going into level 2 restrictions just took another 0.5% of that gross rental yield?
  8. That is the market, that is the game these people play.
  9. Final listing price was -12.5% from July starting point. Gross rental yield will be c.3.5%.
  10. Yes he’s got approval. But he’s going to re-fi into an IO BTL mortgage “to get as much equity out as possible”.
  11. So that’s that then. Flat has spent the past few weeks on the market below 2013 price paid. No offers. Now coming off the market to rent. Another accidental landlord. And he’s leveraging up the pregnant missus to move on.
  12. I think this trial balloon was floated up to give a confidence boost to the market. A bit of forward guidance that the government have your back if you are about to enter a life crippling mortgage on an overvalued property. Whether it gets off the ground or not is not clear because it isn't as easy as it sounds.
  13. +1 This advice is spot on. You should be doing ALL OF THE ABOVE but at least in particular: - "I wouuld assume most houses need at least some electrical work, older ones lots of it. I would assume a new boiler is needed on anything over 10 years old and new pipework if going from a system boiler with a water tank to a combi boiler." - "Anything like the locked garage: when you make an offer put on the offer 'subject to a second viewing and inspecting the garage'." - "Take a torch and look in the loft at the roof timbers."
  14. Every Junkie is always chasing their next high. I should know.
  15. Because the data is backwards looking. I complete on a sale next week, price agreed in February. People buying are on 4x joint income mortgage (no kids) and at 85% LTV. Price is all time high price per square metre for my area. That print will show publicly just before xmas. Mortgage rates are increasing above 60% LTV for the very reason that banks expect prices to fall.
  16. So what he’s going to do.....he’s going to leverage up his pregnant fiancés income hard (without telling the bank about change in circumstances). And keep it on the market knowing that the SDLT cliff is very real. And then if he sells the flat this side of April it’s just short term liquidity issue. The obvious risk is that prices continue to soften and he should have cut 40/50k off 8 weeks ago as market is going to ratchet down more and more and he’s probably already missed the window to sell. I bet he then ends up leveraging it up on IO and being an accidental landlord.
  17. Interesting! Thanks for sharing!! I didn’t expect so much detail. I am about 10 years your junior and bought my first house late 2012. Due to being irresponsibly leveraged at the beginning (double income no kids) I now have a pile of equity (monetised), no house and 3 dependents. At least I caught the post GFC bubble.
  18. How have you ridden the naughties bubble, top ticked and bottom ticked GFC, reloaded pre and post Brexit AND only got 350k equity?
  19. Went to see what is almost my "carry me out in a coffin" home - 4.5 bed detached in leafy home counties. In the precise location I want. They had 20+ viewings over the weekend. My offer, rejected, -12% from asking was the only one. Us and 3 other interested parties going for a second look. In Feb that was 10 offers and sealed bids today - no question.
  20. "Go to University, everyone does" "But it's a global pandemic, won't my experience be affected? Why don't I just wait until it makes more sense to go?" "No it'll be OK, please pay us 10s of thousands of pounds and be a good sheep" "OK" ....... "Buy a house, everyone does" "But it's a global pandemic, won't prices be affected? Why don't I just wait until it makes more sense to buy?" "No it'll be OK, please pay us 100s of thousands of pounds and be a good sheep" "OK"
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