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Everything posted by MrXxx

  1. Well that last one in the list provided by Lavalas made me laugh... ... I am probably burying my head in the sand but the thought of selling all my properties, some with tenancies 10 years old, to come away with say 15k - 20 k equity each just dose not give me the option to replace my current income. Added to this 14 fixed rate mortgages with exit fees of up to £4500 each until 2020 I am between a rock and a hard place. Currently trying to get down the LTD route gradually with the ones not on fixed rates, then do the rest as I can. Only option my heart will follow through... So say his average property value is £75k...making a profit of 15k per property over ten years means he 'made' 2%pa return before tax assuming that he owned the property outright...some financial wizz kid then!
  2. sPinwheel, ignore my comment above, I was thinking 'ad verecundiam'...I can now see that we were of the same opinion regarding Counts post.
  3. Sorry Count, but I think FLB has made a good point here. Countless times on this site I have seen the 'effect' (i.e. BTLers, Foreigners etc) being attacked rather than the 'cause' (i.e. politicians, big financial institutes, 'bankers')..and whilst 'we' (including the more socially/politically aware on this site) allow this distraction to continue, 'we' are going to continue being shafted....this scenario is like history just repeating itself i.e. Crusades, Jews/Nazi's, Amin/Asians,Balklands. OK, the poster got a little 'ranty' towards the end, but his/her argument still stands, and you either challenge it with counter-arguments or remain quiet...to counter with 'school yard' abuse just shows the weakness in your argument, not his/hers...and please don't fall back on the default option ('Oh, they must be a troll if they don't agree with my world view)...As for sPinwheel, get yourself a 'backbone' rather than following like a sheep! ..and just for the record I voted Brexit and believed it was the right decision for a whole number of reasons i.e. democracy, stopping abuse of several systems [European politicians, Benefits tourism, abuse of UK welfare] etc...and no, I am not a troll, just look up my posting record to confirm this.
  4. So why should the LL of an empty house pay 100% Council Tax yet a single person gets a 25% rebate?...I will tell you why....say for example our LL in his quest to save money has not turned off the Electricity/Gas/Water....the service then leaks leading to the house catching fire, exploding or flooding...with a person in the house this is less likely to happen as they will smell the burning, the gas of 'feel' the water... ...the alternative?..the fire brigade say 'Sorry mate, you have not paid your Council Tax...let it burn'...and the LL in his quest probably didn't want to pay any building insurance as it was empty as well!.. ...but, but, but...what if he did cut off the services?...well, an empty house is more likely to be broken into, squatted or infested by vermin (the mouse type, not the tenant type [as in the eyes of the 118 crowd] )...this is why 'Property Guardians' are now so popular...the LL would still need to call on other services such as police of health Inspectors... ..oh, and the Council Tax also pays for Housing Officers to deal with those less scrupulous LL who try to illegally evict their tenants!... ...That's why they should pay 100% :-)
  5. This one 'Takes the biscuit'! http://www.msn.com/en-gb/news/uknews/mancunians-angry-about-the-homeless-spikes-have-responded-in-a-brilliant-way/ar-AAmnH7c?li=BBoPRmx&ocid=mailsignout You see, all of you HPCer's have got the wrong idea...you though BTL's were caring (and providers of a service), Estate Agent put them to shame!
  6. I think this sounds like a great scheme...they had better make sure its charity shops that they buy though, as this is where they will be frequenting when they act on this silly idea!
  7. If President Trump is the 'new messiah' (which I don't think he is), then he is going to find 'the powers that be' a little harder to play 'hard ball' with than anyone else he has before i.e. bullying Scottish tenants etc. I can see one of three things happening:- 1. They will 'dig up the dirt' and impeach him (this appears to be happening already) or there will be a 'trial by media' to get the same result. 2. He will 'join' their club, that is if he is not in the club already. 3. He will have an accident/period of ill health and so no longer be able to perform his duties as president.
  8. And I suppose when given the choice this 'Respectable member of society' chose to up his rental prices, lost a good tenant and got his just desserts?
  9. What will Carnet do?...well, he'll be vigilant of course!....
  10. AQ...'you dont have a choice'? I would agree if we are talking about flats as they are all Leasehold but houses?...Of course you have a choice, if they (the developers) insist that the property is Leasehold you 'walk-away' and buy a Freehold property elsewhere...Lost income/sales will soon 'refocus' their customer service skills!
  11. Yes Mr Hammond, people in the UK do spend a lot more of their income to buy their house, especially when compoared to the Germans...but perhaps it has something to do with security of tenure, for which our German bretheren are much better supported by their housing laws?!
  12. Perhaps the Beeb should be encouraging the offspring of these OAP's to give their time to their parents rather than asking strangers?..after all, they will be the ones to benefit eventually via the inheritance!
  13. Funny how he 'finds his voice' now he has 'feathered his own nest'/is in a position of security...Red, Blue, Orange...whatever colour their politics they are basically just all the same....career politicians (never had a 'real job') 'sucking off the teat of the people' and pretending to be anti the opposition but just a great big club laughing at us for supporting them in their endevours!
  14. It always amazes me how people put so much 'confidence' in statistics...almost as if its a 'given'! If we say that they were working on a P value of 95%, then the opposite of our hypothesis can happen by chance once every twenty times....by chance. Is 2000 people a good sample?..well, was it taken randomly?...i.e. all areas of the UK?...all economic groups?...etc AND with a sample size of 2000 (in comparison to the actual population) we are going to have large confidence intervals. Finally, if the stats were looking at how often you would draw a red ball from a mixed bag of red and blue balls that would be fine, as they can change their colour...but voters can change their mind...Red team one minute, Blue team the next....Brexit one minute - project fear - Remainer the next....assuming of course that they believe the 'facts', which as we know they didn't appear to in the referendum.
  15. I agree with Sajid, its greed that has caused this scenario....and 'The people' have allowed it to happen through their 'I'm all right Jack'/selfish attitude, thinking they are prospering (The powers that be are allowing them) whilst they are really being shafted...irregardless of whether its Dave or Gordon (or Thatcher or Con/Lib/Lab)..these are all 'figure heads' for the greedy 1%...when will 'The people' wake up!..some examples... I know someone who bought their council house (now worth half a mil) who complains that her son is at the whim of BTL landlords yet she doesn't make the link that she was part of the problem VMR's agricultural neighbour who is happy to undermine the system by employing EE ('Well British people won't do that work!') who do not pay intio the system yet take from it...wonder if they have children and if they do if they have considered the implications of their actions? To follow with an agricultural analogy...people will 'reap what they will sow', the problem is when their crops fail they will blame the weather rather than when they planted.
  16. I agree with 'The Count'...including the expletives! If they drop HtB for non-new builds this will then impact on the price of new builds...developers will then land bank as much as possible (within cash flow allowances) because they can without cost implications as they want to maximize product price. The whole Ponzi relies on 'affordability'..you stop FLS and the banks will have to start charging serious (read market) rates. Stop both and mortgages will be both more expensive to service and more sparingly available as 'risky' borrowers will be avoided. Result of all the above?....stagnation of the market until.....TSHTF....interest/mortgage rates go up....people lose work....forced sales....CRASH (correction).
  17. OK couple of points on this as it really [email protected]@es me off! This it typical of any govt i.e. pick on a weak target to save a little money...perhaps we should be asking what politicians/managers were responsible for the whole patient software debarcle that cost billions and strip them of their pension rights?! Healthy eating/exercise is a learned/habit forming behavior normally ingrained from a young age....who was it that sold off all the school playing fields for housing and came up with the nonsense that it was bad for children to play competitive sports? So we will deny a service to certain people that they have paid for in their direct/indirect taxation YET allow a non-EU citizen to come to the UK, have treatment, and then try to claim back the cost via an invoice that they will never pay (as they didn't have to show travel insurance as part of their visa application)...can those who are refused treatment then refuse to pay taxes? Sugar tax...but only being placed on drinks!...what about all the other 'foods' that contain vast amounts of sugar?...Make me wonder whether some backhand lobbying (or cessation of party funding) has been occurred between people here...and what is happening to this sugar tax?...it has been mentioned that it will be used for primary school sports (is this not something that should be funded by direct taxation anyway?), but what will these children see as their role models i.e. overweight mum/dad feeding them crap food as they are too busy working to pay the mortgage.....can all 'sin' taxation i.e. booze/ciggies/sweets be use to subsidize sports facilities?.....where is the '2012 Olympics legacy' now?! BMI...yes, great if you are an average i.e. based on 50% of the population, but what if you are an outlier....I am about to go out on my 20km run that I do once a week (seriously), I go to the gym three times a week, do another two 5km runs, walk to work every day (30 mins each way), am slim (5,10, 30 inch waist) yet have a BMI of 24.5, 0.5 more and I would be classed as overweight!....and with all this exercise am I not putting more 'wear and tear' on my joints, so shouldn't I be excluded from a hip replacement in the future as the problem was of my own doing?! WHAT WE NEED IS POLITICIANS AND MANAGERS THAT CAN ACTUALLY DO WHAT THEY ARE PAID TO DO...and when they fail rather than trying to find a scapegoat (and get the general public to follow like sheep), we should be able to get rid of them quick and reclaim their pension contributions as they have failed in their duties...but will we?....NO
  18. So it appears that the 'experts' predict financial disaster is created by (please place any incident of minor importance here), their 'friends' reaps the rewards when the marker tanks and recovers, the transfer of further wealth from the majority to the minority happens once again....'Rinse and repeat'.....well, the 'common people' are well and truly being 'rinsed' here and yet we let it happen again and again!....this is why I am now convinced early retirement is the best option.....OK, I won't be able to love like a king but at least I know my taxes won't be 'spent' (given) to support banks and feed the greedy.
  19. Hi Folks, quick question of Drawdown that I am looking for clarification on...hopefully some of you financial wizards can confirm?! Scenario...I have a DC pension fund and at retirement decide to leave it with the company and do a drawdown rather than remove it and buy an annuity (or reinvest elsewhere). Although the company doesn't charge an annual management fee, they allow 4 withdrawals per year and charge an admin fee of £75 for each. As a result I decide to make a single withdrawal of £10,000 to keep under my personal tax allowance so the questions are:- a) What does this fee amount to as a percentage charge and how does it compare to a passive approach with a broker?..I know what I think the answer is but would like confirmation. If I initially didn't take my 25% Tax free lump sum, is the drawdown free of tax anyway? c) In reference to above, could I take a higher drawdown sum free of tax as long as its less than 25% of my total pension pot OR is it only the first 25% of any drawdown sum that is free of tax? Hopefully the above is clear, as I just want to make sure my understanding is correct.
  20. For a moment there I though George Osbourne had been UN-sacked, like the recent Labour Minister for Ladies issues that UN-resigned!
  21. Well I wish some of you 'Armchair experts' had been running the country (and our pensions) twenty years ago...that way we wouldn't be in the mess we are now, as highlighted by the 'experts' that have been running the show! Yes, Brexit (or its sentiment) has had an effect on pensions, BUT this is only an effect that compounds on a situation that was pretty [email protected]@ poor in the first place...and what would our 'experts' use to cover their incompetence of Brexit hadn't occurred?.... ...one thing that we can be sure of, if Brexit hadn't happened things in the next 10 years within the Eurozone were not going to get better, in fact they were very likely to get much worse....at least now we MAY have a 'way out' of the financial disaster that is about to hit in the Eurozone.
  22. FG...no, you are not that different (I am the same!)...its just that we don't feel the need to 'conform' and/or are strong enough to make our own decisions. WICAO, I have posted some message on your website (under name anonymous)..can you take a look and let me know if my understanding of what you have written is correct. Cant remember who started this post but thanks, got me thinking about pensions/retirement and now have my Plan B...not as fancy as some of yours with Bonds here and Gilts there and ...etc, BUT I now feel as though I have taken control rather than being a passenger. Anyone know a good site/source that explain tax allowances and how best to maximize them in a nutshell (someone alluded to this above with lists of ISA, dividends etc)...I want to use this as part of my developing plan to decide on additional pensions contributions etc. Finally, what are people thoughts on this scheme (see link below) and how do you feel the charges (page 18) compare to other brokers sites?...I appreciate this scheme doesn't allow the purchase of individual shares/specific index funds, but it seems to allow an 'easy way in' to investments. (https://www.uss.co.uk/~/media/document-libraries/uss/member/member-guides/post-april-2016/a-guide-to-investing-in-the-uss-investment-builder.pdf?la=en)
  23. I agree Phil, we are lambasted with 'Think about your future, save for it etc' yet you try doing this (and some financial planning) when they 'move the goal posts' every few years! Also, I reference to the earlier post regarding peoples expectations of what they were promised and what they received, why shouldn't they expect to get what they were promised?....Its all part of the agreed contract...If you did a job and a day before being paid you boss said 'Sorry I made a mistake with my calculations, I am only going to pay you £3 an hour instead of £12' would that be acceptable?...at least with this scenario you would have some choice i.e. tell him to [email protected] himself and go and work for a rival...you can't do that in retirement! As for JTB comment above, so true :-)))
  24. Thanks VMR/RK, you have both given me something to think about...I can now go off and do some more research...just one final question:- On the 'big day' (retirement) you have a number of choices (due to recent changes) that basically involve taking a lumpsum, and/or buying an annuity and/or draw-down. Now my understanding is with an annuity to pay £x's and get a fixed amount in return whilst you are alive BUT have no access to the capital that you paid (correct?)...and a draw-down is simply leaving the capital with the pension company (invested in a share portfolio) and taking a % return on the yearly profits YET you still maintain the capital sum (and so can take bits of that tax-free over a period of time) correct? Thanks for you help so far.
  25. Thanks RK. As for 1, I had calculated that it would take me the three years, although I hadn't calculated the %'s...what do people think about the 'security' of the state pension...what with recent murmurings about the potential loss of the Triple-lock (yes, I know this was 'Project fear' but it got me thinking)....The way I see it is that with a growing elderly population and a reducing 'youth' population how are they ever going to pay it OR is it just going to be lowered or not maintained at the rate of inflation (or will they 'invent' another metric to measure that?!). As for 2, that very much what I want to try to avoid i.e. just listening to others 'advice' rather than DYOR...I did that once when I was younger (endowment) and learnt my lesson!...I now want to be more aware so that if/when I make mistakes I know that I was well informed. Another question...regarding pensions and taking Tax-free lump sums...I assume that when you have the chance to take this it would be best to take out up to the tax-free limit, as you can then put it somewhere i.e. ISA where the returns would also be tax free, rather than leaving it in the pension and being taxed on the extra pension that it would create?...Also, when you take out the tax-free lump sum does it count towards your yearly tax allowance? Thanks for any views.
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