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Butthead

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Everything posted by Butthead

  1. Monthly change has been negative each month since Feb. Looking at the price data the annual change will go negative by October at the latest unless there's a pick up in prices.
  2. And the BBC's headline on the matter is "House prices rise fastest in East Midlands"... http://www.bbc.co.uk/news/business-42322596 With no mention whatsoever of the month on month falls in several regions
  3. Doctors earn good wages and often have surplus income People with surplus income look for something to do with it that allows it to grow The property market, rightly or wrongly, is viewed as a way of getting a good return. It's also fashionable. It's as simple as that really.
  4. Misleading chart with a false zero. The stock of properties as per that chart is currently a little over 40, versus an average of around 65, yet the chart makes it look like it has fallen close to nothing.
  5. You can get a 10 year fix at 2.49% with no fees from First Direct if you have a good LTV. Early redemption penalties over the first 3 years.
  6. Good post Bland Unsight, don't disagree with any of that. You're absolutely right that their yield requirements effectively reduce the LTV available, which removes some participants from the market, and I guess those participants are the ones with less money for a deposit so perhaps are the ones who aren't higher rate tax payers. So higher rate tax payers are discouraged from the market by changes to higher rate tax relief. And basic rate tax payers are discouraged from the market by lower LTVs being available in practice. Sounds like a win-win to me.
  7. For a house costing £150k. Maximum loan is 75% of £150k, so the max loan is £112,500. Rental income must cover 125% of the mortgage interest at 5.74%. Notional rental interest is £112,500 x 5.74% = £6457. So rental income must be 125% of that so must be £8071. So rental income needs to be £675pm or more, rounded figures, on a house costing £150k. That's not unachievable. Income yield is unknown, because that depends on the actual cost of the mortgage loan. The actual cost is likely to be a lot less than 5.74% though. And to a borrower with income of say £30k, or dual b
  8. Bear in mind that even if you decide you want to transfer the money to a SIPP you'll have to take regulated financial advice to do so. The existing scheme provider simply will not transfer the money, nor another provider accept it, until you can prove you have received advice from a suitably qualified and authorised adviser. It's the rules.
  9. Exactly. But then the answer to the question of "who is our monetary system supposed to benefit" is 'bankers and the wealthy'. And as politicians and media moguls tend to be wealthy...
  10. I think it sounds like it could work for you and your circumstances. I too suspect that the BOE will continue to ensure that nominal house price falls don't happen to any great degree, but of course no-one knows. If you have considered the risks and can handle them come what may then you're in a strong position. Good luck.
  11. It's common practice, and underhand for sure but not fraud. When selling a load of largely identical properties a developer wants them to appear to be sold for the same price, but different buyers want different deals. Some push harder than others, some expect more thrown in. So you get "deposit assistance" where the developer pays towards the purchase price, or "we'll pay your stamp duty" which amounts to the same thing, or fixtures, fittings, soft furnishings, garden landscaping etc included or upgraded for no extra cost. But the sale price is always at pretty much the same price. As ever,
  12. I can relate to this, but I think the problems you describe are small ones. Floorboards creak because they are put in quickly with a nailgun and the nails become loose, lift the carpets and screw them in properly and you've solved the problem. Window handles and sockets becoming loose are even easier to fix if you own a screwdriver. None of those things are fundamental problems with the design or build, so not really a reason to prefer an older house.
  13. With regards to your second point, a quick Google provides this: http://www.thetenantsvoice.co.uk/advice_from_us/know-who-the-landlord-is/ You have legal right to your landlord’s name and addressSection 48 of the Landlord and Tenant Act 1987 states that rent is not lawfully due unless the tenant has been given, in writing, an address in England and Wales at which notices can be served.
  14. Maybe in Fairyland. Sadly in the real world a 4% drop compensates at 4.32% rise and a drop of 20% will wipe off 25% gains.
  15. I was down in Plymouth recently for the first time in many years, was quite shocked at the degredation of some areas in town. It seems everywhere west of the sundial is pretty run down, although the new (new to me anyway) shopping centre is quite nice. I would expect Plymouth to be hit hard when property prices fall. The average wage there is pretty low, it's not really nice enough for second homes, yet a 3 bed terrace costs £200k? Crazy. I expect this is an example of what you mean Jiltedjen? http://www.rightmove.co.uk/property-for-sale/property-41500977.html Big victorian terrace convert
  16. Of course we've been downgraded. The globalist establishment is very cross with British voters and will tell us off quite a bit for the next few months. Expect similar gestures from Investment Banks, from the IMF, from notable investors ("Soros says pulling back from UK investments, Buffet selling % of UK holdings, that sort of thing), stories of firms considering job losses and relocations etc etc etc. The stories will be jumped on by the media and by people who were Remainers, while success stories will be ignored, but who cares. It's never been a fair playing field, but we still won!
  17. It might have been, before you jinxed it!
  18. This, in a nutshell. Remain and the media are clearly colluding, every day there's another "bad thing will happen if you vote for Brexit" headline. A couple of days ago it was "look all these celebs you like say vote remain!". It will be drip, drip, drip of the same stuff right up until polling day. By contrast social media and online forums seem to be more in favour of Brexit, although that could be more indicative of my choice of association online.
  19. Well this website would need a rebrand for starters.
  20. I don't know anything about the Sheffield rental market so can't comment on the price, but... As a concept, I like it! (flame suit at the ready) Kind of like a cross between a hotel and a flat, or a slightly more up-market Uni hall of residence. If I was an early 20-something again, wanted my own space near to work and would be out more often than not I'd rent somewhere like that.
  21. 10 cars since 2012, so a new car every 4 months roughly. That's not "liking cars" it's deeper than that. My guess is he likes choosing cars, deciding on his options list, the attention and validation of the sales people, the anticipation of the new car, posting on the forum, collection day, pictures, having his moment in the sun, "nice car m8 - enjoy!!!", and then a few weeks later the experience is over but it is still sat on the drive. And the only way to get his high back, is start all over again. I frequent some car forums and you see the same thing to a greater or lesser degree quite a
  22. I think anyone else's experience isn't going to be the slightest bit of use to you tbh. Just because someone happened to leaflet a homeowner who was looking to sell doesn't mean you will. Give it a go though, nothing ventured.... as they say.
  23. Yes all those better off people in their 20s and 30s who are working, paying rent and trying to save to buy a house. What lucky poeple they are. Come on, you've been on this site long enough to know better.
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