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Unmoderated

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Everything posted by Unmoderated

  1. So send them to a place where there was nobody to look after them and that was totally unsuited to providing that type of care?
  2. It seems like you didn't want them sent back to their home once they were able to leave hospital?
  3. No worries. I don't think the Boomers are this vilified set of evil people, rather they just got lucky.
  4. Yeah no problem. My expectation is a fairly simple one and that's to generate about £1.50-£2 back for each £1 I spend on the refurb. The more I do myself the closer to £2 we go. Moving costs would be significant if I sold at say £900K and bought at £900k but I'd want to buy something much cheaper, possibly cash at auction and then renovate that. If I can sell at £900K once all is done I'll have £500K equity after disposal (from a £75K deposit four years ago!). For the me the price rise is less relevant than the relative price rise. No point moving house if they've all gone up by the same amount. In the mid 2000s you saw people thinking they were property gurus because they'd spent £50K adding £40K of value to the house only for the market to have saved their arses. End goal is an eco house that's comfortable and a nice but modest size on a nice plot near an ok town. Then I can retire early, drive around in a camper van and tend to my garden. If I get super lucky I'll have a canal mooring and my own narrow boat.
  5. Great work! I too would see similar but always worth bearing in mind what the house is worth immediately before you start the work, what it'll cost, and what it's likely worth afterward. In rough numbers house worth low 500s today, work quotes coming in at 200 and final value mid 800s - poss 900. However, locking in a 5yr fixed rate means I might be living in it a while and enjoying it first before moving onto the next one.
  6. It seems like you think I said they did? All I was pointing out is that any poverty on the boomer generation will get worse as generations behind them retire.
  7. Totally agree with you. Anyone that can't see where this leads must be innumerate. Further, these are exceptional times where a large swing down last year is mitigated by a large upswing this year and the triple lock ignores those falls. In other words if you only take into account the height increase of each tide you'll soon flood the Earth. There's another point though about what's coming down the pipeline. The people retiring now were quite lucky in being born just after the way and benefiting from cheap housing and relatively good job and pension prospects. If a portion of them are pleading poverty now then I don't know where that leaves my generation (old Millennial) many of whom are still not owning their own home let alone anything else.
  8. Why would you live at home if your course was a 240 mile round trip?
  9. Haha, it is possible but I was mid thirties and a super saver. I graduated with my student loan in my ISA (worked to fund uni and lived at home to save rent). Didn't do a gap-yah and all the other wanky stuff. No new cars, nothing on finance, not even a phone. Only debt is the mortgage. Arguably others have had far more fun 'living for today' but I'm (finally) about to start the next step of my plan which is to renovate, extend, flip and repeat. Tax free gains to buy my house so I don't pay a penny as it were. Just an average guy trying to be smart and beat the system.
  10. I think the average punter has more than a 5% deposit. Even as an FTB I put down 25%!
  11. I literally spoke with my mortgage broker yesterday. 2yr fixed at 64% LTV 0.89% 5yr fixed (same LTV) 0.99% I get more on my current account FFS!
  12. Correction - interest only is quite hard to get (which is good). However, I can borrow another £40K and get a 5 year fixed at 1.25% which means my payments actually go DOWN!
  13. Quite! I wont come off IO unless I have to now. Once house is done I'll simply salary sacrifice the £40K max into a pension and then pay off my mortgage tax free when I take the full PCLS at 25% of the pension pot. Once house is done I might even sell it, cash in and buy something in the South West mortgage free and just live the life. Newly single, no kids (that I know of) and just want an easy and quiet life.
  14. https://www.moneysavingexpert.com/mortgages/best-buys/?journeyType=remortgage&propertyValue=500000&mortgageAmount=375000&term=30&repaymentMethod=InterestOnly&sortBy=MonthlyRepaymentAmount&pageNumber=1&addFeeToBalance=false&productNoFee=false&noEarlyRepaymentCharge=false Knock yourself out . I need to the money for home improvements rather than being a feckless debt junky buying a Range Rover Sport . Getting paid to borrow in real terms.
  15. Yes indeed, I'm looking at a 75% LTV in October Interest Only (taking out a chunk to help fund improvements). I'm seeing deals barely over 1%! Still getting paid to borrow.
  16. I'd bet on it but then the world is turned on it's head. The past two years has just been insane.... and to think I thought about selling up when I split with my ex! Pure luck I decided to stay for another two years while they've been renting/living with fam and friends I think these past couple of years. I'll be re-mortaging soon and I'll be interested in just what's happening in the mortgage market when I trawl through it.
  17. The consequence of blowing half a trill into the economy in twelve months. Paying people to do nowt is inflationary, chucking money at 'businesses' is an expansion of credit which is inflationary on expansion (but not so much when it needs paying back - but you guessed it, they wont be paying that back will they?). This is insane though. I say that as someone that bought in 2017 in the wake of the Brexit vote when the market had calmed a bit, and as someone wanting to take equity out shortly to fund a large extension and refurb. It's mental though. Talking to my brother over the weekend who has three young kids and told me he'll be putting £100 a month for each of them into a savings account so they can use as a house deposit when they're older. I said (not half jokingly) he'd be better off buying a holiday cottage and renting it out plus getting free holidays so that in 25 years he's got a place probably fully paid off which could be split three ways and then you've got a substantial deposit for them. Money is so cheap right now why wouldn't you?
  18. 100% agree. Tax all transfers of wealth at the same marginal rate. Income, CGT, inheritance - the lot. You inherit £100K and earn £150K a year you'll pay 45% on all of that inheritance.
  19. Yeah, so he avoided the BIK and just literally bought the car and banged the full cost through as an expense! He bought it. My former colleague actually viewed his filed accounts. Unbelievable.
  20. Not just billionaires. Colleague of mine (chartered accountant) knows of a contractor that probably makes £80K a year tops. Last year he bought a new 3 series and expensed it through his books and took a full tax deduction. That is of course not allowed but who is checking?
  21. Kinda agree there's a limit to all this but a third of deaths were in care homes that were locked down. What is lost on this argument is that your choices have impacts on others who don't have a choice. Furthermore the greater the number infected the greater the incidence of variants. With mutations it is a numbers game.
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