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ReluctantMover

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About ReluctantMover

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  1. :-) Forecast is for pretty flat sales volumes forecast, more sdlt, and more cgt. I can't see specific data in the obr forecast for sales of resi prop other than PPR. One interpretation of more sdlt from pretty flat sales volume points to a combination of higher prices / higher tax per transaction from buyers of 'second' homes. IIRC the obr said budget 2015 wouldn't have much effect on the housing market. It is certain btl sales will be brought about by c24 but isn't the obr still sticking with the line that the effect on the market overall will be minimal? Will the arrival of the first ta
  2. apologies for formatting! CGT changes expected to cost lots (£60m, £90m, £145m, £160m £170m in the next years) Income tax falls (as a result of people making gains rather than income?) to cost lots Stamp duty to make a bit over the term Net cost over the period to 2020 is £2,745 billion Resi sales to stay flat over the term
  3. http://budgetresponsibility.org.uk/efo/economic-fiscal-outlook-march-2016/ And the impact of the budget is covered on the Other tab on this spreadsheet http://budgetresponsibility.org.uk/download/economic-and-fiscal-outlook-supplementary-fiscal-tables-march-2016/ Of note Capital Gains Tax: reduce basic rate to 10% and main rate to 20% excluding residential property and carried interest Receipts Capital gains tax -60 -90 -145 -160 -170 Receipts Income tax -90 -590 -510 -560 -620
  4. George Osborne tweets on 10 March https://twitter.com/George_Osborne/status/707892738042232832 "Almost half a million people helped by all our @HelptoBuy schemes - transforming generation rent into generation buy" Almost simultaneously, the @helptobuy twiiter account tweets https://twitter.com/helptobuy/status/707963953482240001 "Over 150,000 people have been helped to buy a home using Help to Buy https://www.helptobuy.gov.uk/ #OwnYourHome " So, is it 'over 150,000' or is it 'almost half a million'? Or is it a case of what is 350,000 between friends?
  5. The buyer's solicitor has asked our solicitor if we are ready to complete tomorrow We are - there isn't much to do as the seller really. How has she got things done so quickly? The searches and stuff for the house we bought took way longer than this. Anyway, if she is ready to pay, we won't stand in the way. We will be calling in after work to sign the papers at our solicitor's and, if the money arrives in their client account tomorrow, that will be that I have set up a rightmove search to see if comes up as available to let
  6. It rather feels like I am on the wrong forum even Maybe I didn't join soon enough to be a member of the small 'welcome to post' club? Not to worry. I took the information offered, used it and it will be what it will be. I will head back to just lurking and looking in now and then. Sincere thanks though to those who have made this site the repository of useful information that it is, I really have learnt a lot and I hope by acting on it to have avoided a particularly slippery banana skin. I wish you all well.
  7. We were going to rent it out. That was the basis of my very first post here, to seek the alternative view on doing that. A lot of people that we know that have moved in recent years did keep the house they were moving from and rented it out. It seemed like the obvious thing to do when we moved. I regard myself as fortunate to have lurked here enough for me to be prompted to take a more careful look at some of the information here. It changed my mind and Mrs ReluctantMover's mind was changed when she read the bland unsight booklet. I now regard the paper gains made by friends and work col
  8. Some of you are tough critics. You use a lot of your time to contribute to this board, making it a very valuable resource to people who lurk / stumble across it and who are prepared to dig in a bit. I learnt from the information available on this board (and the bland unsight book) that it was wrong for my wife and I to drift into being a landlord. We had three agents round to value the house for sale, one of them claimed to have a potential buyer who would complete quickly, at the recommended asking price, to avoid the stamp duty changes coming in April. That potential buyer viewed the pro
  9. There was the Appointments Commission It started life as a specialist organisation to recruit the best possible people for senior public sector roles - many of which were NHS managers There was a plan that it would grow to take on the recruitment of senior frontline staff (senior nurses, pharmacists, etc. in the NHS) and then, perhaps, handle more and more recruitment for the public sector But it soon became apparent that it was run by fools and that it was destined to fail . Commercial recruiters ran rings round it and the processes it was using were lengthy, convoluted and ineffective.
  10. I almost became an "accidental" landlord (see my recent posts in the new members welcome thread) Thankfully, the good counsel of posters here made me consider the matter from the correct angle and I am in the process of selling the property They buyer is (quoting the estate agent here) "a big player in buy to let round here" My solicitor has advised me that the house is actually being bought by a newly formed limited company, of which the buyer is the sole director and shareholder. The deposit has been paid and completion is expected to be done before the stamp duty changes come into for
  11. Two other agents round, both valued at same £195k We decided to go with Tepilo I called up the first of the other two agents to tell him no thanks and he said he had a buyer that would buy and, even though I wasn't going to instruct him to market the property, could we do a deal where he brought this buyer round before I signed with another agent and, were she to buy it, I would pay him his 1% fee. She is a 'big player in buy to let round here' and is 'on a buying spree just now.' As he said he could show the buyer round this afternoon, it didn't seem like too long to wait. She has been a
  12. Well, completion and moving went smoothly. Just about got the everything unpacked yesterday and this morning and I nearly know how to work the heating and hot water in the new place already! Grabbing a chance to put our feet up for an hour or two. The Tepilo valuation for our old house is less than the neighbouring property (which had the loft converted to a bedroom / bathroom, had a nice big 'orangery' extension to the kitchen built on and still has a larger garden and sold for £267k back in the Autumn) The valuation offered by Tepilo on ours is £195k. Two other agents coming to take a
  13. thanks "willie" and "25 year mortgage 8itch" you are clearly on the sell it side Also, input from a friend of mine has given me something to think about that really tips the scale towards selling She says that keeping the house is taking a gamble on prices increasing at a very significant pace into the future. The stake is the CGT that would arise on selling the property in the future, rather than selling it CGT free now under the PPR rules. At 3% gross rental yield, subject to 40% tax and letting agent fees, maintenance etc., the net yield is likely to be close to nil. Say 0.5% for argum
  14. LTL, popping head up for the first time to outline my scenario and seek input on our potentially becoming an "accidental" landlord I live in Leeds Lived in current house since 2001. It is a 2 bed semi with garage and was / is "a FTB" house. Back then it cost £46,250 and it was just me. I paid the mortgage off completely in 2008 There has been a Mrs ReluctantMover since 2010 (she isn't so reluctant to move, but that is another story). House has been in joint names since 2013. Next door sold in November 2015 for £267k The house we have bought (exchanged contracts yesterday, complete F
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