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TheRivieraKid

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About TheRivieraKid

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    HPC Newbie
  1. Surely this only affetcs people buying before April 2017? When the ex chancellor announced the Lifetime-ISA he said members of HTB ISA schemes could transfer in, both capital and bonus amounts. These begin April next year. The LISAs also have a more realistic purchase price cap and no limit on maximum gov. top up.
  2. TheRivieraKid

    When Do You Expect To Buy?

    A 10% drop in my area would bring the family homes we desire into the 'affordable' bracket. However, if I see that kind of drop in the near future I'll be tempted to hold out for a little longer. The target I have in my head is 2019/20
  3. I totally understand your resentment towards the older generations. I suffer it to. Every day when I walk kids to school through the treelined streets of nice family 4 bed detached houses. You see the retirees out manicuring their gardens and all I think to myself is "can you not please hurry up and die to free up some of these places". It's a horrible way to think. I'm actually a very nice person. This is what the market has reduced me to!
  4. TheRivieraKid

    The Fear Begins

    Couldn't agree more on the BBC point, their coverage has been awful. They've clearly just gone out to find the most hideous, racist Leave supporters to interview. All the Remain people they find: educated, reasoned, can speak properly. But the masses will buy into it. Plenty of people in my peer group voted leave, and I'm talking mid-30's, degree holders, high earners. I've now stopped watching BBC news.
  5. TheRivieraKid

    Schiff On Housing Bubbles

    Enjoyed that video. Makes me feel a little better about renting. Don't get me wrong; I would rather own, just not at these prices!
  6. TheRivieraKid

    What Do I Do Now?

    This is it. If contracts were geared more in favour of the tenant it wouldn't be such a bad way to live. 5+ year contracts, increases in rent capped at CPI, one way break clauses etc. It would be possible to feel settled somewhere without fear of having to find a new home with a few months notice.
  7. TheRivieraKid

    What Do I Do Now?

    The bit about life passing you by really rings true for me. It almost feels like our 'family life' can't properly begin until we have our own house. i know that's the wrong way to look at it but it's difficult. The constant worry at the back of our minds that maybe the LL will decide to sell up in a few months etc.. It's made easier by the fact the houses we want are now out of reach. Decision to buy or not has effectively been made for us.
  8. TheRivieraKid

    What Do I Do Now?

    Yeah. It seems like these BTL boomers believe they have grafted hard for all their apparent wealth, and the yoof just aren't working hard enough etc. It really annoys me! Kids are primary age, job in London (not portable) and living in a commuter town. And yes, the prices are just silly. How has it gotten to this level? Unfortunately it seems the ruling classes in this country have far too big of an interest in property values to let things correct.
  9. TheRivieraKid

    What Do I Do Now?

    Yeah, thanks again for the responses. I'll have a read through the links you posted, cheers. There must be so many other angry people out there. I feel totally let down by this country. Mostly the smug faced baby boomer generation.
  10. TheRivieraKid

    What Do I Do Now?

    Thanks for the replies. Do you think savings will be safe when everything comes to a head? Would it be time to buy stocks of gold etc. I know people say hyper-inflation won't happen in a western economy again but who knows. Also, people keep telling me I should just buy a smaller 2bed place that I could afford, and trade up later. This seems like a bad idea too, not just for quality of life but being stuck in the house for a long time if the market goes tits up. Our current rent on a 3 bed house is 3.1% of the current zoopla value. Even if we could mortgage this place with a 10% deposit our monthly housing expenditure would almost double. It's absolute craziness!
  11. TheRivieraKid

    What Do I Do Now?

    *confident not comfortable Also, I'm getting really pissed off at older friends and associates who seem to look down on the renter sector. Especially when I earn more than these c***s, who just happened to buy at the right time with massive deposits from mum and dad.
  12. TheRivieraKid

    What Do I Do Now?

    Hi. First time poster here so go easy. Just needed to vent some frustration about this whole mess. I have, over the last few days, realised that buying a family home in the area we currently live is now unaffordable. I'm married with two children and we do live in an expensive area in the South. But this area was affordable when we first started out renting here. Now the kids are settled in school we really don't want to have to move. We earn a decent amount, could probably get a mortgage for £320k, have enough for a 10% deposit based on that figure. Unfortunately the cheapest 3 bed houses are £400k+. Now I don't know what to do? Wait and hope for a crash? Even if that happens it'll be 5/6 years before we'd be able to mortgage somewhere. What will happen to my savings during that period? I worry the govt will just start printing a ton of money and devalue the pound. Will my savings become worthless? Will all the owners be laughing once their mortgage debt reduces relative to huge inflation? Just feel completely stuck. Does anyone actually feel comfortable that this madness will end? And when it ends, will it benefit the home owner or the saver/renter?
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