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Council estate capitalist

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Everything posted by Council estate capitalist

  1. I think this sort of stuff is up there with "freeman on the land" type arguments. Debts are assignable, The "charge" at the land registry is still in the original name of the bank who if they have securitized the loan are in effect just acting as a security trustee. All above board, likely mentioned in the original agreement in some format. Desperate people will come up with wild stories about why debts aren't "real", Charlatans will sell these desperate people false hope that they can "wipe out" the debt on some technicality.
  2. Good point, I forgot about the £100 minimum for a Section 75 chargeback, Visa, Mastercard and Amex have their own "voluntary" schemes though where they'll sometimes chargeback transactions under £100 and recover the money from the seller. Maybe gift cards of defunct retailers could become a kind of morbid collectible. Like old share certificates.
  3. I'm not 100% about this but if the purchase of gift cards with a credit card is treated like a normal purchase then customers of WHsmith who would be holding worthless gift cards might be able to do a section 75 chargeback against WHsmith. This could also just be a standard commercial dispute between Deb's and Smiths about how much commission Smiths take on the sale of the gift card.
  4. I recall reading that councils were forced to sell off any "high value" council houses they had which basically included anything nice. Couple that with natural wastage + bedroom tax forcing/encouraging people to move to smaller houses has left some nice properties up for sale.
  5. The "Cashback" part is of interest. Surely if you represent to the mortgage company that the price of a property is say £200,000 but neglect to tell them that the real purchase price is actually £180,000 after your "cashback" then this would amount to mortgage fraud?
  6. It would appear that this option doesn't fix the price in any way so the option itself has limited value other than perhaps buying at an independent valuation rather than Taylor Wimpey's made up price. "if you serve notice to indicate you wish to take up the option to buy, Taylor Wimpey will within [1 month] arrange three independent valuations with the average being the option purchase price." "The 5% discount is taken off the option purchase price and is only available between 2-5 years of the tenancy agreement." So having a look at this they "give" you the 5% deposit at the end, They are giving it as a discount on the purchase price rather than as any kind of cash payment. Not sure how this would work with getting a mortgage. Also: "Springboard cannot be used in conjunction with any other offer (including Help to Buy)." Having a look at the properties available they are asking for £284,950 for a 2 bed "apartment" with the rental listed as from £900PCM so about a 3.8% yield for them. *against the current price* I think when we start to see this deal come up at more and more developments it'll be a sign that they're really struggling to shift these even at 95% LTV.
  7. Haha I needed a laugh today. "How to get your parents to help you buy a house" alas I couldn't get the video to load. The student loan one spouted the same carp Martin Lewis et al come out with. It's not really a debt, you might not pay any of it off etc etc. Little graphic showing monthly repayment compared to yearly salary. Interesting choice of language. "If you OPT for a low paying job " like it's really a choice. One issue nobody seems to pick up on/publicise is that the government at any time can change the terms of the student loans. I don't believe it requires a commons vote either.
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