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janch

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Everything posted by janch

  1. https://www.zerohedge.com/news/2019-07-16/bank-run-deutsche-bank-clients-are-pulling-1-billion-day
  2. In places I follow in SE I look at the last 7 days additions (which includes previous listings which have reduced in the past 7 days) on RM and this week several places had 50% of the listings as reductions. The ripple is happening and this week has reached as far west as Bath (36 of 80 properties were reduced). Prices are still ridiculously high but they are coming down albeit slowly.
  3. Better to take the house off the market, wait 6 months then re-list with a different agent at what could be a more realistic price than keep doing "small"(still thousands of pounds!) reductions. That way it doesn't go "stale". (I've done this in the past when initially I had 3 wildly different valuations from 3 different EAs and stupidly went with the highest and then wasted 4 months without a single viewing! )
  4. Prices are coming down in London so I'd hang on paying rent and keep reviewing whether or not it's a good time to buy. I certainly wouldn't put all my eggs in the property basket; as you say it would be very worrying to have to pay much more each month on a bigger mortgage and you don't then have any choice as to what to do with your money when it's all being eaten up by a mortgage. Also if you buy now and really struggle think how you'll feel when prices fall and you're stuck paying through the nose. I think I'd I'd put any spare cash into a SIPP. Also when you come up to retirement or circumstances change you may change your mind about London and be happy to sell and move somewhere cheaper in another part of the country.
  5. This happened to me where after 3 months and when contracts were ready to be exchanged my buyer decided to lower the price he was prepared to pay by quite a lot too. I told him no and stuck to my guns on principle. I had incurred expense by then on my purchase property and the whole chain collapsed as there was then no way I could have afforded to buy the next property without the original agreed sum. The only upside was that he would have lost out too plus the EA was quite peed off at having lost the sale.
  6. Well spotted. I was unaware the law came into force in June 2017. Seems like HMRC are getting their act together on property and about time too. Then there's all those LLs.............juicy pickings no doubt.
  7. I was thinking the same and I agree with all the other sentiments expressed here. How they sleep at night I have no-idea......they seem completely oblivious to all the carnage they've caused at home and abroad.
  8. The mistake with RTB was not using the money raised by the sales to build more council housing. One of the arguments at the time for RTB was that people's circumstances often changed and that as they progressed and earned more they could afford owner occupation and council houses were really meant for those who needed subsidised housing. It was supposed to aid a reversion to a situation whereby councils only supported people who really needed it. By selling off properties, the new owner occupiers were responsible for all the maintenance etc. which saved councils considerable sums over time.
  9. I think I'd buy that house if I was in your position and they accept your offer. It looks like the sort of place to bring up a family and not ever have to move again. Good luck whatever you decide.
  10. I'm finding myself watching RT more and more and the Keiser Report is one of the reasons why. He has interesting guests with useful info. I also pricked my ears up at the mention of the Danny Blanchflower tweet........although as Max Keiser said QE was first and foremost to save the banks. They obviously knew what effect it would have on asset prices at the time and who would benefit and who would lose out.
  11. If you watch the C4 programme "Escape to the Chateau" you will realise Dick Strawbridge is more than a good DIYer and has renovated the chateau with the help of builder friends. For most of us it would be more than is manageable. The programme doesn't mention the costs which must be astronomical. Fair play to him though!
  12. But...........but what about the property progs about living by the sea? Will a sea-view be worthless?
  13. Indeed and this has been the case in the places I look at in the SE for a while (all this year easily). The "wave" has been coming out of London and I would say it's reached about half way along the M4 so has yet to properly reach Bath and beyond. I do a count of properties for sale in the last 7 days on RM which includes reductions. For places in the SE there's usually 50% reductions now whereas in normal times it's around one third. Also many new builds are having prices reduced so it must be happening!
  14. I did this 12 years ago and had nearly 8 years living off savings before my state pension kicked in. I just couldn't stand the aggro of work and that was without a terrible commute. I live very simply and much prefer life without all that stress. It seems you can either have time or money and I much prefer time. It's surprising how much you can save when you don't work too............no work clothes/fares etc and time to cook from scratch. I think my health benefitted enormously and I no longer feel depressed. If you have a job you love that's different but I never achieved that luxury.
  15. That is truly horrific..............Spy is quite right. We should be able to save a fortune after Brexit!
  16. This is my experience.......the " bad" ones tend to lower the standards of the rest?
  17. I moved from a small development last year which had some "affordable housing" and the place is going downhill. It was OK while the builders were still there as the sales office lady would "have a word" with people while they were still selling the houses. After they left there would be more rubbish generally with some large things left for months etc. Luckily there was a gardening guy who came every few weeks to tidy the fronts and we all paid a service charge for that. Most people didn't do anything to keep the place up to scratch though. Funnily enough it was my owner occupier next door neighbour who was the main reason I left though and he was" worse" than any of the social housing tenants in his behaviour. I will be very cautious in buying anywhere like this again.
  18. They will only play ball if you take out a mortgage via them. I wonder what would happen if you say you are a cash buyer? I think I would be tempted to put a note through the seller's door explaining your difficulties? They probably have no idea they may not make a sale because the EA does this. In this market that could be a disaster.
  19. I believe EAs are legally bound to pass on all offers to the seller
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