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Unmoderated

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Everything posted by Unmoderated

  1. Literally just fixed for 5 years at 0.99%. The scariest thing about my mortgage is the redemption penalties of 5% for the full fixed term. 70% LTV max product. 10% overpayments. The link to the article seems to say that rates for small deposits have been cut slightly and all they're doing is saying they'll increase rates for those with high deposits.
  2. With repayments at £1k a month I could pay it working in Tescos. I know what you mean though... I was stressed before initially taking the plunge but tbh it is true what they say.... it gets easier. My monthly payments have dropped about £200/month and would be even lower had I not taken the additional money out. If I was renting I think that would be the opposite story. In either position you have to make the payments to keep you home but rather unfairly if you have a mortgage you can take payment holidays or go IO for a period etc. If you're renting there's little support.
  3. I had arrangement fee of £1k but on a mortgage close to £400K so that 0.1% is £2k over the term.... breakeven - just!
  4. I was walking through town last night and I walked past EA window. Looked in as could do with a laugh and saw a really nice two bed two bathroom flat for £280K. I could afford to buy that and rent it out and it would let for £1,200/m. Back of fag packet and 2.5% at 25% deposit on the IO and that's £440/M for rent. Service charges there too of course but I was just staggered. After years of being priced out and then struggling to buy somewhere 4 years ago with an ex, then getting lucky at work and being able to buy her out to now looking at this and being able to become the very thing that was two steps beyond reach...... needless to say I hope any investor that buys it trips over the edge and into insolvency and I see that nice little flat up for half that price and it goes to a nice young person in their early 20s (or any FTB of any age). In short though the market doesn't need FTB. All property could eventually be hoovered up by investors. I discovered recently that two fairly unassuming individuals at work own large portfolios. One has 14 properties in the area. mi £250K/unit.
  5. Shoot! I just went for 5yr fix with Santander... 70% LTV though
  6. So pay them enough in the job that they do not need to set themselves up afterward. If you're an MP let alone a prominent one you're living in the public eye. Partners of top accounting or legal firms earn a million a year and they only run a book of business relationships. How much do you think the people running the country should earn? Pay them £500K/year and you can ban all other contracts. Not just in role but for a period afterwards.
  7. How will you get people worth £500K a year if you don't offer that in the first instance?
  8. Because poverty is relative, ergo inequality causes poverty rather than wealth .
  9. Maybe. I guess it's a deep question. The contrast is one thing but stopping all that opulence wouldn't solve the poverty issue. I get that feeling when I see a refugee camp on the news in the winter time. The poor wretches scampering around the place in the freezing cold with little or nothing by way of material possessions while I'm in my dressing gown in front of my roaring stove, heating on, sipping Columbian Coffee and eating some avocado eggs bacon thingy to cure the Mendoza Malbec induced hangover.
  10. Fine by me. Sell everything when you go into office. Although.... here's a corker! https://www.marketwatch.com/story/paulson-files-to-sell-500-mln-in-goldman-stock
  11. Tail wagging dog my friend. Offer £500K a year and watch finance, legal and operational heads of business throw their hat in the ring.
  12. All of those expenses and side hustles detract from the main issue - they are not paid enough for that role. Thatcher blocked MP pay rises as the optics weren't good but the unspoken understanding was that you could effectively top up with expenses to cover that off. Got a bit out of hand but that's really the consequence of not paying them properly.
  13. I'm sorry but I actually really strongly disagree here. The people on the leadership team of my firm all earn far more than that and they're only looking after a subsidiary of US owned tech firm. If you want genuinely good, intelligent people running the country you need to attract them with a decent package. I earn more than that FFS! I also think I'd make a better employee so anecdotally I'm right. I'm sure nobody would want to fly in a plane where the pilot earned minimum wage so why would you want your country governed by people paid (for that level of decision making) a very low salary indeed. I guess we could take the other view and say that until they have solved all the country's problems they shouldn't get a penny...... obviously nonsensical.
  14. Watching BP. If divs return to historic trends it's yielding very well indeed. Nice little income purchase.
  15. Oh yes. Some of my friends think I'm a little eccentric when they see me get up from my multiple screen in my office, chuck on old clothes and get chainsawing and splitting piles (literally) of logs. I enjoy the workout and trying to refine my splitting technique and of course stacking the logs to maximise airflow and minimise drying time and moisture content. Onsie looks toastie! I might get a blue one
  16. Same as you. I have a tonne of coal bunkered though for a multifuel stove plus a lot of firewood I like the sound of a onesie.
  17. If salary increases £10K I can borrow around £50K more. That's the key determinate for how much people can borrow. Wage inflation follows to house price inflation. Genuinely cannot believe what I've been offered. I'm just under 40 so term is becoming an issue in that I have to start shortening it with each remortgage. I was offered 4.75X without even asking!
  18. Do they? I thought these were bundled up and sold off in the securities market. Lender makes the loan and sells the revenue stream. If we get wage inflation what will that do to house prices?
  19. With the additional cash coming out I can pay the mortgage for 5 years if I stopped working tomorrow. I'd also be up for a decent chunk of severance - we pay a month for every year. I've been there 6 years and just broken teh six figure barrier. £30K ex-gratia tax free too. Furthermore, a chartered accountant is rarely idle but I do take your point. I try to mitigate risk as much as possible while allowing myself some exposure to reward. There's always risk there.
  20. This seems like the same wishful thinking that stopped me from buying a house for the better part of a decade. I've just remortaged. My interest rate is 0.99%. I took out an extra £30k to do stuff to the house. My monthly repayments are £200/month lower! The best bit...... the mortgage broker cam back and told me I could have a further £30K and that is without my bonus being taken into consideration. I look at this like I could have outbid myself by £60K when I bought the ex out two years ago. With that in mind how is there any less money about? I do accept that inequality has increased during the pandemic but all I see around me is houses selling fast and plenty of skips, scaffolding and works going on.
  21. One can only dream of the facial expression of the penny dropping microseconds before the occupant napalms themselves. Petrol vapour, meet source of ignition. *****.
  22. As an academic exercise yes, but 1% increase on a £250K mortgage is an extra £200/month for initial period. But my point is, as you say, get in as soon as you're able.
  23. I'm trying my best to short cash. Extending the mortgage and using that cash for investments. Let the cost of those investment get eroded and realise the capital gains down the road to clear what remains of that debt. below 1% is just insane!
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