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MinistryMan

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  1. We had the in-laws round today. They own an independent financial advice firm and had plenty to say on mortgage availability!! following on from a previous posters points... Employment - they told us if you show the mildest drop in income you’re in trouble. Worse still furlough which actually works out much less than 80% for many on larger than £2500 take home. And anyone in a risky job sector you’re out of luck for the best rates. Payslips showing ‘furlough’ as a watermark or as a footnote are a no no! Employees also need a written agreement from employer they won’t be furloughed ag
  2. Thousands furloughed are still working by my reckoning. A straw-poll on family & friends and the girlfriend (she’s well respected in hospitality), shows several major employers have pulled a fast one by either topping staff up to 100% pay so long as they work upto 20hrs a week on the quiet, or worse, agree a new contract on 80% of their old pay, but don’t tell HMRC, gov continues to pay the furlough, which equals 100% of employees new wages and employee returns to work for 15-20hrs a week, but must keep it quiet to keep their job. It’s rife I tell you. The GF gets a call everyday
  3. Just my two penneth. I’m a renter by choice, not because I’m scum, or weird, but because it gave me far more for my money than buying did in my area at the time, the flexibility to hand my notice in and move in a fluid jobs market which gave (and still does) some peace of mind. What I pay for my 3 bed semi with large garden, room for a veg patch, parking for 4 cars in a beautiful rural (slightly upmarket) welsh border village would only get me a 2 bed flat above a shop in nearby towns with no parking. It simply doesn’t suit our choices in life. But here in lies the complications in t
  4. Wales have just announced reduction in Land Transaction Tax (LTT) to zero rate for properties upto £250k, after fears the changes in England could make properties less attractive in Wales. The Welsh Gov emphasised the change does not apply to second (additional) homes or BTL. So we shall keep watching, and not buy just yet. We went to Chester on the weekend for food. Busy out walking the river and lots of under 25’s out drinking, but other than that shops were desolate and the restaurants less than half capacity compared to pre-covid. With the figures announced today on the econ
  5. ALERT! “Help to Downsize” is coming!! I haven’t read the whole thread, but I don’t think anyone has mentioned the letter sent to Mr Sunak 22 June to ask for this. A letter from housing and pension bosses clearly spells out why ‘they’ think stamp duty should be removed. Badged “Help to Downsize”, here is the link to the ‘thisismoney’ article which includes the actual letter and it’s signatories. This might even require its own thread! https://www.google.co.uk/amp/s/www.thisismoney.co.uk/money/mortgageshome/article-8479463/amp/Cut-stamp-duty-downsizers-property-boss
  6. According to BBC Trump has even weighed in on the rumoured sale to China by Hitachi of the semi refurbished Wylfa nuclear plant on Anglesey, saying “don’t sell to China”. Hitachi have said they have no plans to sell - they also have no plans to finish building it! Unfortunately Welsh Gov’s answer phone kicked in when Donald rang offering help, saying “Welsh Gov can’t come to the phone at the moment. We are currently busy preventing Mrs Jones sewing shop in Bridgend from falling in to admin at the loss of 2 staff and a hungry cat”.
  7. Whether they were already on IO mortgage before remortgaging this time, he didn’t say. Did say many are in their late 60s, but some are younger. He often mentions his clients are self employed car dealers, painters and decorator types, bar & club owners, boutique style hairdressers and nail salons. That’s the Wirral and Cheshire in a nut-shell!
  8. Sorry, been busy and emotional day yesterday for the GF! She and her team got told they have a redundancy workshop today. Approx 800 staff out of a 1000 going at her place (hospitality software specialists) as the firm can’t afford the Furlough top up starting Aug 1st. Cheaper to offhire and rehire when needed. Yes, all the IO were re-mortgages from what the father in law told me. Going rate on repayment is 1.35 to 1.75% and even lower on some IO. The affordability calculators allow for a little more room on IO he said, so they can borrow a bit more.
  9. Nothing better than good old fashioned 'cooking the books' at Lookers car dealerships. Nothing to see here according to auditors Deloittes...........https://www.bbc.co.uk/news/business-53217484 Accounting firms and Auditors; Can they be trusted along with ratings agencies? A whole new topic in itself! Surely Lookers are just a victim of the current climate? But wait, we have Wirecard this week and remember Enron, Olympus, Lehmanns, Tesco's, Serco, Thomas cook, Ted Baker, Eddie Stobart, Patisserie Valerie....trust me, the list is endless of false accounting, book cooking, lazy auditi
  10. Lots of this behaviour where we’ve been looking to buy - north east Wales / Chester. Our Rightmove searches have gone from 1 alert a week 3 months ago, to 10 a week. Maybe this is EAs getting back to work, but the listing and pricing follows a noticeable pattern...i.e. 2016 bought for £395k 2019 listed for £475k Jan 2020 dropped to £445k June 2020 relisted for £485k! Suddenly a house we could have made an offer on in Jan (though overpriced IMO and didn’t) is back to a price level we can’t and aren’t willing to go to. We thought some had sold as they weren’t in our sear
  11. Not good news for Cardiff... Cardiff City Centre shopping is dominated by St David’s shopping centre owned by INTU - it’s not out of town. Cardiff airport in financial difficulty. It’s Welsh Government owned via an ‘arms length company’; not entitled to financial aid; Welsh Gov budget not big enough to support it and Westminster not in a position to give help owing to disagreements over the Barnet formula. Cardiff Uni in £30million deficit and anticipated 60% reduction in intake for Sept 2020. Property prices in Cardiff are well above average wage and have been for some tim
  12. Yeah, there's have a staffing situation with the ports that is going to result in queuing on major routes if this situation doesn't get resolved sharpish and worse still if traffic levels continue to grow, even if back to 50% of what they were. Add in a bit of Brexit confusion and nowhere for HGV drivers to get there special permission slips to extend drivers hours signed off, we have a problem. But Betfred are offering a rescue! He owns some of the Service areas and is being paid to provide extra staff and an advanced booking in facility for HGV's to lay up instead of blocking routes as
  13. Agree! Sadly my girlfriend and her mum would also be happy as Larry with this transaction and reply with "what a bargain, it's way below the asking price". ...hmmm yes darling, fantastic, now where's my gun?
  14. Hate to say it, but I'm told uncertainty over Brexit was also mentioned in the knockback of the business plan to obtain finance. It never rains, it only pours for these big goliaths!!!
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