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About jb5000

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  1. Can’t see how Virgin has any value? If it was sold they would still be forced to send a wedge to Branson’s brand company offshore to keep the Virgin name. Virtually all of the assets have been mortgaged. Any future cash flows have been severely impacted during this crisis. He would also rather see it go up in smoke than sell to his old chums at BA.
  2. If the U.K. has a relaxed attitude to lockdown then it will all be dealt with much quicker than elsewhere and will be done in 12 weeks just as Boris says. Unfortunately that means there will be hundreds of thousands of deaths.
  3. Remain is still an option for the country until we actually leave. Until that date then we should continually assess whether remaining is better than any of the leave options as the facts and realities of leaving emerge and develop. Saying that we are now committed to leaving at any cost because of the 2016 referendum is absolutely bizarre. You wouldn't run the decision making in your life like that so why would you expect the government to?
  4. Indeed... it's an interest only mortgage where the loan also grows with the value of the house! The worst of both worlds. Also - if you want to repay you have to repay at least 10% of the value of the property. A really sizeable chunk, thus disincentivising early repayment to the HTB agency. Realistically I think it's set up as a pyramid scheme that only really works if there's continuous HPI. Wait until the mortgage + HTB equity loan is 80% LTV and you expect that most people would remortgage, if they can afford it, and pay off the HTB element. Thus savouring all the glorious f
  5. It's the first option. Assuming RPI of 3% and using the maximum 600k house price the annual fee, starting in year 6 would be: Yr 7 - £2,100, Yr 8 - £2,184, Yr 9 - £2,271... etc. Of course, double it if you've gone for 40% in London. The capital becomes due after 25 years, irrespective of the principal mortgage. The interest rate is officially zero for the first 5 years, but the size of the HTB loan increases relative to the value of the property. So if HPI is 10% it's like borrowing 120k on a credit card, if prices fall then the size of the loan falls. The fee starting
  6. Out of idle curiosity we went for a look round a couple of new build houses roughly in the area we like. They'd slashed the price a few times so I was starting to sniff some desperation. Houses were really average, bedrooms fine but the living space was miniscule. Usual crap 2 oblong rooms downstairs in a "5" bed show house. Barely room for a dining table, no utility area etc etc. Salesman went to see if a completed home might be available, when he left the office we just got in our car and left. Since then I've had a voicemail every few days, and today I got a text message: "Bo
  7. I know these threads come and go with predictable comic timing, but this is a particular favourite: http://www.mumsnet.com/Talk/am_i_being_unreasonable/2308704-to-tell-my-friend-I-think-shes-making-a-huge-mistake-buying-an-ex-council-studio-flat-for-200k-on-the-outskirts-of-London-at-35-when-she-doesnt-earn-much 35 year old on £20k p.a. has bought a £200k studio flat. Her friend is concerned that she's setting herself up for a collapse but she is soon shouted down by the Mumsnet Swiss Guard. Nobody seems worried that a first time buyer is purchasing a property at 10x their income. Within a
  8. Indeed. Hidden on that page is the total personal debt (mortgages, student loans, credit cards etc.) and that's just over $16tn as well.
  9. Have a look here if you haven't seen it before: http://www.usdebtclock.org/ Roughly $150,000 per taxpayer at the moment....
  10. Hasn't low interest rates, HTB etc. proved to us that cost of housing has lost all relationship to value of the asset but is now just related to affordability of the target audience? A reasonable house for a family of young professionals will just be priced at the level that the typical buyer can afford with a debt slave mortgage. I'm not convinced that the abolition of SDLT will be passed on to the buyer, I just think that the extra 3% will be thrown onto the cost of the house. Especially as that amount can be mortgaged rather than paid in cash. Houses bouncing around £250k will now easily
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