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House Price Crash Forum

Council estate capitalist

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Everything posted by Council estate capitalist

  1. Intu has been under performing for a while, That whole thing with Hammerson messed with the share price but behind it they are getting bashed by the CVA's, HoF, BHS, & next and other retailers demanding lower rents. Damm sight cheaper to shutdown than the dilapidations bill when you vacate a shop!
  2. 100 jobs per store? Either they are greatly overstaffed or we've found the tax credit motherload.
  3. "The million pound rent rise" Could be avoided by having the rent increase adjudicated for fairness by the property tribunals.... But how many tenants know that this is an option + It'd just lead to Rachman/Hoogstraten type techniques to remove the sitting tenants.
  4. No doubt. "Miss-sold and overcharged" pmsl. As if the developer isn't entitled to sell to anyone they want.
  5. How incompetent can the government be to not even bill money it is owed when it has 5 years notice. I wonder if in a few years we'll hear about HTB money that has gone missing, Some lucky sods whose loan paperwork fell down the back of the filing cabinet, Charges never registered at the land registry etc and as a result they don't have to repay. "£235 in accumulated interest, which they were expected to pay off in one go. " < If you can't afford £235 you have no business owning a house. As for the £16k loss, It's a new build in Merseyside. even if it was freehold I wouldn't be surprised.
  6. Local Housing Allowance rates in my area (Telford) just about cover the rents for self-contained accomodation, Although only on worst streets in the worst parts of town. I'd like to know what the Guardians definition of "affordable" is. They mention rooms to rent but the "shared room rate" of LHA is always less than the rent because shared rooms almost always include bills/Council tax etc.
  7. Yeah problem with the welfare system is it's too generous to one group and really mean to others. If you look at the "UC elements" some people get many hundred a week, others get £73.10 and a room in a share house. They're cutting job centres. Although you can see their aim of doing everything centrally it's a long way off due to incompetence.
  8. I've seen the homeless Jayden situation happen several times IRL, Kid leaves college/school. August/September rolls around (Child benefit ends, Tax credits ends, Child support ends) And Jayden hits the streets, if he's lucky he gets a shared house/homeless hostel at tax payer expense. Was debating whether to screenshot this, but then the comment sealed the deal. This is from a "benefits support group":
  9. They'll have to go back to using car washes, nail bars and other cash businesses to launder the money.
  10. It was widely touted in P2P investor circles that FC were making lots and lots of new loans prior to going public, That's how the game is played, highest revenue/EBITDA just prior to going public. The IPO price is a multiple of this. What then happens is you find that 1. the loans you rushed to make are crap, 2. you're finding it harder to originate the same number of loans because whoever wants one has one so credit quality ends up slipping further.
  11. Depends whose asking. If it's HMRC probably about a fiver, If it's the insurance company probably about £20k. (In light of their litigious nature I must clarify that I am in no way suggesting that Fergus or Judith are participants in any form of tax fraud or insurance fraud)
  12. Within the fixed term you can't put the rent up, but when it becomes a periodic tenancy you can issue a S13 notice, form 4. putting up the rent. It does have rights of appeal to a tribunal though if the rent has been set at an "excessive" level. There was a HPC'er whose landlord just sent a text/email rather than issuing the correct notice. the HPC'er wisely continued to pay the "old" rent and told the LL the score when he asked where his extra rent was.
  13. Hit and miss, a lot of the loans will have gone into that sort of thing. I will say that of the loan recipients I know none of them are involved in contrived vanity businesses for tax credits e.g dog grooming/nail bars etc. Many of them are still in business 5 years on, one of them has almost 20 employees working for him. Others have opened more locations & franchised out internationally.
  14. when I clicked the link I was half expecting a 60% vacant building that is capable of being let, that's the only way to justify the low yield. Here's one for you in the Allsop auction coming up. Few shops + offices in Hartlepool. Held leasehold with £38K ground rent. You get £21k rent coming in. So day 1 you are losing £17k (plus rates) per annum. https://auctions.allsop.co.uk/lot-overview/Leasehold-Vacant-Office-and-Shop-Investment-in-Hartlepool/C190709-072
  15. I wouldn't be buying any gift vouchers from any of them, Nor would I be paying deposits/buying online orders without using either Paypal or credit cards to do a chargeback if they go bust. There's just too much risk.
  16. I can tell you all about these Start-up loans on the basis that I've had one (Paid it off early) + I know several originators. The startup-loans company "SULco" have various delivery partners who receive commission, These delivery partners drum up interest for the loans, help people develop a business plan and apply for the loans. The delivery partners can approve loans of up to £7500 themselves but anything higher (up to £25k) goes up to SULco for additional checks. The quality of origination will vary between delivery partners naturally but I know that they have "default targets" set by SULco, If your book of loans default rate is too low it means you've been overly cautious and haven't been lending to enough people.
  17. I never understood why anyone (apart from speculators,corporate landlords etc) would buy property off plan. Indeed I can't understand why anyone would pay £500k for an house they haven't inspected. How many times have we seen people buy off plan and then the building never gets completed or they are "forced" to move into a half finished building.
  18. Carphone warehouse was a poor acquisition for Dixons They mentioned that people were more often asking to buy the phone outright with a "sim only" plan that works out cheaper. 2 of my friends have gone off-contract, not "upgraded" and gone sim-only on my advice. Saving about £240/yr each. The "savvy shopper" mentality among the masses will be the death of many businesses that rely on people not shopping around. (Telecom, utilities, Insurance etc). When 35% of your income goes on rent something has to give.
  19. Sound advice to get ahead of falling prices to get it gone rather than lag behind and chase it down. I can listen to people like that, Atleast it's not rent2rent or any of that "pwoperty entrepreneur" crap.
  20. It's a long time to wait, anything could happen. If/when they do pay out it'll be a pittance though especially for low earners. On a £25k gross starting salary contributing the minimum to the workplace pension for 45 years would give you an income of £6400/year. Assuming a 5% investment return. wages going up at 2.5% a year, and inflation being 2.5% a year. The 5% employer contributions will only add to employers hiring 2/3 part timers instead of 1 full time.
  21. One 5 star from a borrower "The process to get the funding was shockingly simple"
  22. I know we all rip on private landlords but I will remark that the only 2 houses on my row to have drug users/growers were both housing association owned.
  23. https://www.bbc.co.uk/news/business-48527876 Meeting of creditors to approve Arcadia CVA delayed for one week. Phillip Green lacking the backing of landlords needed to push rescue deal through.
  24. Not only are they real people, Mark has written a reply to the article criticizing the allegedly inaccuracy of it. https://www.facebook.com/groups/UKProperryTraders/permalink/2323273691250893/ They own one of the more well known "property training" companies.
  25. I forgot the best bit, They also help you stop smoking & allow you to lose weight while sitting down. It was on Dragons Den valued at £1million asking for £100k for 10%. 18 minutes in if you want a laugh. https://www.dailymotion.com/video/x3it7tw Reading through "p2pindependentforum" a lot of the investors are pulling their money out of platforms due to the high default rates, A sizable number are running their portfolios down, or are just left with bad debts. FundingCircle is an interesting case because in 2017 they moved from investors being able to pick the loans they invested in and then trade them on a secondary market for a premium/discount to a "set and forget" system that invests the money scatter-gun across random loans.
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