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House Price Crash Forum


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Everything posted by RichB

  1. I am not sure what you are trying to acheive with a 50 year mortgage. Perhaps I don't understand you. Would you be saying the 50 year mortgage would be positioned such that the TOTAL interest paid would be the same (or a bit higher than) as a 25 year mortgage (ie dropped to say 2.5% apr from a 25 at 5%)? In that case, I can see that being of benefit. But I am not entirely sure I can see a benefit if the interest rate is the same. Borrowing 250k over 25 years monthly payments (numebrs from Halifax at 5%): Monthly payment for a repayment mortgage: £1,455.61 Monthly payment an interest-only mortgage: £1,037.49 Take that to 40 years Monthly payment for a repayment mortgage: £1,200.65 Monthly payment an interest-only mortgage: £1,037.49 So you 'save' 250 a month for 25 years. But then you lose 1,200 a month for another 15 years. Total cost 576k, against £436k, or an extra 70% of purchase price or so... The longer the period the more diminishing the 'return'. Perhaps a more appropriate mortgage would be an open ended IO only with no payment fees.
  2. My favourite bit Typo? I don't think so...
  3. Was talking to the chap who fixed my car the other day. He's got a couple of houses in fulham he bought about 30 years ago. One valued at 3-400k other 6-700k. Suggested he should sell up and retire somewhere nice on teh interest with his MILLION quid. I mean ffs thats as good as a lottery win! He never thought of it like that he says.
  4. they can hide a 2% jump in with the 3rd world war coming to a tv near you this august...
  5. So they meet monthly, cpi comes out monthly, but they meet before they get the cpi Or am I just way off on that...
  6. To an extent. I think the trouble really centers on looking for low end jobs, where you are always going to get stuffed over and no one will stand up for their rights. Blag your way into a major company as a graduate trainee or whatever. Sorted.
  7. Thereby exposing your town to destruction as a hotbed of terrorist insurgents, hiding amongst the civil population and not wearing uniforms? Hope you didn't live next to a school...
  8. Nah. You guys need to rewatch Yes Minister. So the pay freeze kicks in on public servants. Those who are already earning too much get to stay put for a year or 2. Those earning too little will find themselves 'redundant'. However, their job function will continue to exist but be taken over by a private business. Being the most qualified for the job they will be taken on by the private business (possibly as part of the take over contract) at probably the same ts and cs, or perhaps better. Now that they are not 'public sector' but are now private sector, the pay freeze no longer applies to them. So now their job costs the government more, as it pays extra to the middle man. But the governments responsibility for sick pay, holiday pay, pensions etc disappears, replaced by the simple payment scheme to the contracting company, which then pays corporation tax. So we see government liabilities going down, private business booming, and wages still keeping pace with inflation. Genius.
  9. Grow up Baff. Its the internets. Get used to it. Don't put personal information online you are not happy for the world to know. Especially not on a site that makes no pretensions to massive levels of indepth security (eg not an online retailer/bank etc). They make an effort - I would assume an effort proportional to the level of data held, but really, get a grip. If you really want your data gone, write to their data controller, citing the dpa. But what data do they actually hold about you that's so critical you want it gone? An email address?
  10. Pretty terrible. All sympathies to them. Mind you, the sun was banging on about 11/7. Got me thinking... shouldn't we adopt the US date format for this kind of disaster, call it 7/11. Or would that have been a bit distastefull even for the sun?
  11. Leave off mate. It took out every invision board I know. These guys did well to come back cleanly, most of the others were up and down like yoyos thinking it was patched.
  12. Tony Blairs Socialist Utopia is really coming of age now.
  13. surely it will just mean that people serious about selling will be the only ones advertising? Will it not return us to a cleaner model of supply and demand? Rather than the totally speculative 'ask 3 times what you really expect and hope some muppet pays' perhaps we will get down to the basics of asking sensible sellable prices.
  14. OOh ask him if he wants a nice 1 bed (can fit 3/4 students fairly easy) on king street opposite the cemetary. 7 mins walk from uni. Cheap for quick sale
  15. The best TV is all Hate with a bit of Fear, Democracy is just Fear with a bit of Hate.
  16. Agreed. Although by all comments from guys over there the property market is massively overinflated and rather stagnant. Additionally protections for landlords are minimalistic to say the least, and people don't have the disposable to pay their rents... so they just don't. Steer clear.
  17. http://www.counterpunch.com/whitney07052006.html Sorry if this is old news!
  18. When do the board retire? And with how much? If at that point their 10mill in the bank is able to attract interest at say 9% rather than 5% is that not good for them? 1. Hold off, take the pay 2. Get out before it goes titsup with large lumpsum bonus 3. Invest in spiralling interest rates 4 $$$$
  19. 42% of income at low interest rates? Genius.
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