-
Posts
335 -
Joined
-
Last visited
Content Type
Profiles
Forums
Events
Everything posted by JDI
-
It's obvious that it'll take time for any process to pay out after a bank failure.
-
If, like some on this forum, you expect large banks to go bust & the government to do nothing, then I guess the FSCS protection isn't enough for you. Although IIRC correctly, UK banks have made improvements to the amount and quality of capital held since the GFC, and the UK Government covered private deposits in full for Icesave.
-
I don't agree with the much less risk, If the bank accounts are all within the FCSC protection then aren't they as safe as premium bonds? The difference is that the return on premium bonds is much less predictable.
-
I'd also suggest that the cladding crisis could have played a part in this. & possibly the awareness of the service charges for flats.
-
This states that the average male manual wage was 686. 1959 - average male manual wage - £13 per week (£686 pa). Adjusting for inflation - using your link, says this is worth about £13.2k, so both your house and the average wage have comfortably beaten inflation.
-
If the original landlord couldn't make the repayments on this portfolio then getting a bridging loan for 3 million to buy it sounds very risky. Why would a pensioner with £1.5 million from their house, pension lump sum and ISA be interested in putting it all at risk - along with a 400k Austrian apartment to buy a underperforming property portfolio (even if one is in the wife's name)?
-
Income Tax Band Freezes and Salary Inflation
JDI replied to Round Furlong's topic in House prices and the economy
This petition is for taxpayers between £100,000 and £125,140. Is there a petition to abolish the Personal Allowance freeze for everyone? -
Public perception of landlords - a small example
JDI replied to ftb_fml's topic in House prices and the economy
I disagree, I wouldn't trust an unqualified engineer to service my boiler, or get on a plane if I was told the pilot wasn't qualified. Yes, EAs probably don't need qualifications, but no mandatory qualifications to do anything non-medical is ridiculous. -
I'd like to think that this person worked through their problems with the bank and came to an arrangement. Business loans are treated differently to residential loans. If the business is setup correctly then, as long as they've acted lawfully, individuals can't be chased for the debt.
-
My apologies, your original statement made it sound to me like the entire process would take a year.
-
Seriously, if someone stopped paying their mortgage today there's no way that they'll be clear from bankruptcy in a year. These things take time.
-
I'm fortunate enough not to have experienced it, but I'd expect lenders to work with you if you're prepared to work with them. If you plan bankruptcy, then maybe it makes no difference.
-
Maybe in some American states, but in the UK you're still on the hook for the debt.
-
Kirsty Allsopp: "Detached Houses should be Banned"
JDI replied to Dyson Fury's topic in House prices and the economy
Sounds like you need to eat more fiber 💩 -
BTL landlords in mortgage arrears rockets by 29%
JDI replied to 70PC's topic in House prices and the economy
This is about the general availability and use of IO BTL mortgages for anyone who wants to leverage up on property. It isn't about one or two specific landlords, but I'd suggest that landlords with IO mortgages who overpay them or use profits to fund other investments are a small minority. I guess we'll find out over the coming months/years. -
BTL landlords in mortgage arrears rockets by 29%
JDI replied to 70PC's topic in House prices and the economy
Hopefully BTL will become less attractive to banks etc. as well as individuals, and the rates increased to represent their risk. An earlier post highlighted that IO represents 82% of BTL mortgages, which will highlights the level of risk/ignorance regarding IO. -
Yes, and so will wage increases. However, higher interest rates means that people can't afford the repayments on larger mortgages, which puts downward pressure on house prices. No-one can be certain what will happen over the next few year, but lots of forecasts expect prices to drop a little over the next year or two.