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House Price Crash Forum


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Everything posted by jabber

  1. 5-6% yield blue chips... That's pretty poor rate of return. I doubled my money on 8x8 last year and my other cloud stocks have all returned far more than that.
  2. Comes around goes around. 'more than half of the UK’s total spending on transport networks is invested in London' so why shouldn't rural areas get investment in broadband? Source https://www.google.co.uk/amp/s/amp.theguardian.com/uk-news/2017/feb/20/more-than-half-uk-investment-in-transport-is-in-london-says-study
  3. I thought exactly the same. It is different in the countryside. People from urban areas will never know the excitement that the fortnightly visit from the chippie van brings. The sense of community is great and its lovely to be surrounded by real British people rather than some flip flop wearing a holes...
  4. I know someone who did the old buy a cheap flat so I'm a homeowner, then got a BTL IO mortgage on a house, rented out the flat and lives in the house... Obvs neither mortgage company know and I'm not sure if HMRC would try and do him for CG when he sells the house.
  5. I had expected an unwinding this year as the stamp duty holiday ended, basically house prices down by the equivalent of stamp duty and 2-5%. I wasn't expecting to see a crash (10%+). With the stamp duty holiday now extended and the gov commitment to low deposit mortgages I think it will just be largely flat maybe up 2-3% depending where you live. Be interest to see what happens in NW where I'm renting and there has been a lot of upward movement and London now that COVID is on the backfoot. Will interest in the NW falter will there be a rush back to London?... I have no crystal ball.
  6. I found out yesterday someone I work with orginally offered 100k under asking for a new build. No idea what the asking price was but it's in London. Strategies work both ways. His view was he could always go up. I believe they've now agreed a price but don't know the finer details.
  7. I knew someone through dog walking that got divorced and used her half of the money as a deposit for her daughter and her partner. After a while they found it strained living together and she regretted giving them the money as she felt trapped. I think she should just bbuy the house and keep it simple.
  8. I've just STR, bought last house for 350k 2011, just exchanged for 640k. I'm based in South East on the coast but moving to The Lakes. Not expecting much in the way of falls next year. Ultimately unless interest rates rise (not going to happen) or credit dries up (unlikely as well) there will be no significant falls. I work for a SaaS company in East London and my salary remains unchanged by the move. I expect we'll buy again 12 months down the road.
  9. Its generally tax free even if your in the country. You get £4250 allowed tax free under the rent a room scheme. I go over this with airbnb (we live in a 6 bedroomed place and there are 3 of us).Normally I make about £7000-£8000 a year. However relative is a tax partner in major London firm so helped me out filling in the tax return - you stick half the mortgage interest on that plus half your bills (internet sky movies etc) and then surprisingly you've made a loss.. you then get recompensed via your paye .
  10. MS Lync not a bad UC product - sure its market penetration is fairly low at the moment but its growing rapidly
  11. I take it your a first time buyer - take it from someone who's done this several times either get a local recommendation or use a fixed price online job
  12. Why do you think you need a specialist? Is it a normal buy/sell?
  13. mixed bag really I've used high street solicitors and online ones. I used a fixed price one for selling and then 6 months later buying and found them a lot cheaper. Many solicitors that do the usual divorces, property, probate wills etc are really just old boys club rip off merchants. For the normal non complicated buy sell I'd used a fixed price online firm. One last point local solicitors drag their heals and take for ever. Online ones are more of a production line and just get in done quick.
  14. Hardly surprising with your work record at the time. Who would lend 100k to someone who had only just got a job after being made redundant and who's wife was still in the probationary period.
  15. I imagine the developer just keeps the deposit - I thought a lot of this happened up north in Leeds when the market crashed - a lot of southern BTLers put down deposits on off plan flats but failed to complete as when they were built they were worth less than they thought. Could be wrong tho
  16. Funny coz I keep doing that on bungalows in TA9
  17. Area wise I'd go for Bangor - Gold coast its where a lot of the middle class moved during the troubles about 30 mins from memory from Belfast centre
  18. MMR seems overrated to me. I ported £234k (sub 3%) between 2 mainstream lenders on Monday. Only basic questions and usual id/proof of income were required. Wife is self employed (Ltd) with 1 employee and a couple of contractors but only has a couple of years post NHS proof of income. We're south coast not London. To be honest MMR seems more lip service than anything - i think most mainstream lenders were operating in the same way previous to implementation.
  19. I'd move out side of London down to the south coast if I were you. Most in the private sector can find a job 30-40mins commute from the south cost housing is relatively cheap and wages largely the same as London (in some cases more). London just seems a complete rip off to may same wages, higher cost of living and unfriendly people..
  20. At exchange your solicitor draws down part of the mortgage so its then a done deal with your mortgage provider
  21. Its not illegal to speak to people in the Uk! Incidently I have some sympathy last time I needed a mortgage the bank forgot to forward certified documents and basically had to be monitored and supervised in every step of the process. Making an official complaint did help.
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