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House Price Crash Forum

Jabbabhoy

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Everything posted by Jabbabhoy

  1. Friend of mind who owns a view properties said tax bill went from £1,400 to £5, he was earning I think £300 a month in profit from rent. Therefore I would imagine only profit now would be made from previous asset appreciation or future, he mentioned if things keep falling and reach a certain level he will be in negative territory on one of them - as leveraged up. He has 2 properties and should be ok, but imagine people who have many and are highly leveraged
  2. Great response, I like your answers. I think we have found somewhere that will be good for us to stay for medium to long term. Looking at securing the longest deal possible i.e. 10 year if we can for stability. Thank you
  3. You believe remaining will cause prices to fall?
  4. If there is a no-deal brexit there will be some short-term pain on both sides of the channel IMO. How long this goes on for is anyones guess. What I think we might see is the pound slumping and interest rate rises to protect it, by what magnitude is , again, is anyones guess
  5. I don’t actually think things will go higher if Brexit doesn’t happen, I think people have been stretched enough. if Brexit happens and there is a run on the pound rates might have to go up quickly
  6. Basically you are suggesting that sellers will be getting desperate pretty soon?
  7. I think I will know the general consensus on this forum. Me and the missus are FTBs, looking to buy in London, we can afford a property and credit isn't an issue. Unfortunately we are in a situation where we have been renting for years and want to buy our own home, we have resisted for years due to the ridiculous prices since 2013. My main concern, or the most immediate risk, is Brexit. With it being so close it is a real risk. What are your opinions? If we remain would prices stabilise or rise? If we leave do they fall significantly? Tbh my head is spun by this all, be great to hear your opinions ?
  8. I'm not sure how severe this will be, is there any indication who this will affect the most - what's a typical example of a bill heading to a landlord What is the exact date that a tax return gas to be filed?
  9. Have a friend who is a BTL, spoke for last 2 years about the tax chages....he still has no idea what they mean or the full implications.......they are all businessmen and women of course
  10. Makes sense. So once you file a return you pay immediately? The last date to pay is Jan 19, but what is the earliest? Getting excited by certain businessman realising that their venture is loss making and a depricating asset
  11. I understand the tax changes that are coming to landlords and have been watching this with interest. Could someone please explain to me when 1) landlords will initially understand what the tax changes mean to them in terms of ££££ 2) they will have to start forking out? Having not owned a business (I say this with a sarcism) I am not aware of tax year dates, when you have to file tax returns etc ?
  12. we have friends that moved this way as part of HTB, to them its a family home so even though they would be upset with loses its not the end of the world. But this is showing the real value of these properties. HTB = you can't afford somewhere, well we will give you a house you can we afford, topped up with a 20% loan on top that you can pay back in 5 years time. The logic of the whole thing is f*cked, you can't afford somewhere so here is an extra loan. The real value is minus the HTB loan on most cases
  13. So do I, lets see what happens to house prices when there is a run on the pound and IRs have to rise dramatically
  14. Pound also slipping against the dollar and the euro again, cannot see this improving in the run up to October
  15. My partner and I are looking at our first purchase and are finding it a challenge to accurately price properties especially in a stagnating and falling market. I guess the simple answer is what someone is willing to pay for it, but the issue is what is sensible. Seller sentiment is an issue as they're still looking for peak prices. I would appreciate your advice, below are some of the items we are struggling with: 1) How do you start pricing a property? We generally look at other properties that have sold recently in that area as a start but sometimes these are 1/2 years ago and of a different type. 2) How do you factor in prices dropping? Area are different, boroughs will generally have there niche areas etc.... 3) How do you factor in modifications to a property I.e. loft, extension, rewiring and so on. 4) Sometimes we come across developers who want to make a quick sale but it's hard to gauge what margins they are looking for. Thank you all ?
  16. Not sure I trust the house price calculator, I went on the Land Registry and picked up a house that sold Sept 17 in an area I am looking at. The search gave me a current valuation, changed the month and it shot up £50k more, surely the figures should be the same?
  17. Luxury developers getting desperate and realising they have to sell stock or go under at some point. Its been while but we are getting closer and further desperation is creeping in. "new housing units under construction had reached a high of 68,000, with 46 per cent of those still unsold" Someone on here was tracking prices from their peak in each London borough, can someone point me in the right direction please :-)
  18. My point exactly surely in run up to August rate rise decision this is a HUGE factor
  19. Pound dropping, inflation subdued because of clothes - everything else on this rise. Surely they have to rise, but they wont
  20. Forgive me if I am wrong but didn't someone have some stats of areas within London and when they hit peak level and what they are worth now. For some reason I thought it was this discussion but I can't seem to find it. Can anyone help point me in the right direction?
  21. cheers guys, does anyone have the breakdown report of London boroughs?
  22. When it is released please can someone post a link, thank you
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