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JimTheHouseCat

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Everything posted by JimTheHouseCat

  1. Woops that was already posted. I think we all read the same blogs. Notayesman Wolfstreet Surplusenergyeconomics Etc
  2. https://wolfstreet.com/2022/01/08/treasury-yields-mortgage-rates-spike-markets-begin-to-grapple-with-quantitative-tightening/
  3. Bit harsh! He says she thinks similarly to him. I do hope you have a laugh though Jimmy! I didn't get the urge to buy anything at all during lockdown. Seems my Mrs dealt with the whole thing with compulsive spending and the doorbell was going a few times a day.
  4. Mortgage rates are already going up, don't know what the fuss is about. BoE have to get as much mileage from as few rate rises as possible. They can do this by talking about raising rates and then by actually raising them for a double whammy. They want the effect without having to bankrupt the government. Banks are probably complicit. Notice how they are no longer competing to get rates as low as possible, they have pre-emptiveply raised rates. They know the direction now is gently up not down in order to not destroy the financial viability of this nation.
  5. Silvana is a perma dove external member of MPC she would cut rates below zero given half the chance. She is just one vote though, Bailey is the vote which matters as the internal members will follow him.
  6. Next CPI print is just less than 2 weeks, if their hand will be forced it will be by this metric. What would they do when it's at 5,6,7,8,9%? It's interest rate rises only which will cause the crash now so hoping for massive inflation is the only way! Madness.
  7. Stats on the scheme last time round not too scary. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/648018/H2B_MGS_Official_Statistics_Publication_-_September_17.pdf Looks like it mainly supports buyers in the Midlands and North. It's not going to be driving up prices in London. It's literally the same scheme, they've not even pushed up the maximum amount.
  8. Because you multiply your deposit by the lenders multiplier, sounds like you will be fine.
  9. Maybe it doesn't stop ever, transmutes into UBI or similar. https://www.aljazeera.com/indepth/opinion/coronavirus-signal-capitalism-200330092216678.html
  10. I'm starting to wonder if Halifax are lending pretty heavily to IT contractors who can usually get 4.5 * daily rate * days worked per year. They have a reputation for being very contractor friendly.
  11. Hi GettingBored, Did you ever get any graphs or stats out of the data? Does it correlate with the news from the official RightMove report today that the south and London are starting to see meaningful asking price drops? Cheers
  12. Am I overthinking things or has there been no mention of new build only for the new Help to Buy. Seriously inflationary if non new build houses are eligible. It also talks about market values which is something else that leans more towards the existing housing stock side of things.
  13. I am reliably informed that a character on Eastenders was talking about how it's a buyer's market in London. They film a few months in advance I think.
  14. I think the answer is in your post though. They have to keep getting new mortgages, if there was more onus on the lender to check that tax returns are being filed which tally with the size of the portfolio this problem goes away. I know that there are new lending rules where lenders have to assess the size of the portfolio but I don't know if they have to check if the tax is being paid. It would be sensible though as any borrower not paying their tax is more likely to blow up!
  15. They've got CONNECT now: https://www.accountingweb.co.uk/community/blogs/aatif-malik/hmrc-hunt-tax-evasion-through-connect Also perhaps as more landlords have to get an accountant to help with the interest relief changes they will keep them on the straight and narrow on the CGT front too?
  16. What is the process to ensure the correct CGT gets paid when selling a BTL or second home? It's on the personal tax return right? What stops people leaving it off or lying about the gain?
  17. If rents hold (stay the same) and their mortgage interest decreases they will see an increase in their tax of 20% of the amount it decreases by (this is because of the 20% relief still provided by the mortgage interest when the changes are fully complete (used to be 100%)). When you reduce mortgage interest you are also taking away the relief it provides so your tax bill increases. However they will keep 80% of the amount it decreases by in their pocket as they don't need to service so much interest. Correct me if wrong, very new to this.
  18. First post! Any chance of seeing N8, N15, E17? Amazing work to you for setting this up.
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