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DonJop12

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Everything posted by DonJop12

  1. At some point in the 1980s my parents were given a secure council tenancy. The tenancy gave them stability and the confidence to start a family. Today it is unthinkable that a council house would be given to a couple in their early 20s that both worked. I now feel financially stable enough to consider starting a family, but I am a decade older than my parents were when they had me.
  2. I experienced this recently. It is one thing handing over two recent payslips. It is another when you are generating admin for your employer who has to fill out a form as well confirming certain details. I am not convinced that the process was GDPR compliant. Anyone who knows my e-mail address and DOB can access my NI number. The reality is that landlords have the whip hand in certain cities. You do what they say, or the property goes to someone else…
  3. I would buy The Guardian were it not £3.20 for a Saturday edition.
  4. I suggest reading the Gransnet forum. The financial "dilemmas" of the boomer generation do not generally concern how to get on the property ladder.
  5. Young people will never be able to outvote those who benefited from cheap housing and decent pensions. We are outnumbered. In any case, I am not sure that housing is as big an issue for voters north of the Bristol Channel and The Wash. I spent yesterday in a city in the midlands. It was an eye-opening experience for someone who has lived down south all their life. I visited a suburb where you could buy a house for 200k. By a house I mean an actual freehold property with a garden and two bedrooms rather than a leasehold rabbit hutch. In the midlands people on average incomes can achieve traditional markers of adulthood such as buying a property and starting a family.
  6. Indeed. I will "gain" another £1,000 tomorrow when I max out my LISA for the new tax year but that is a drop in the ocean when trying to buy in London.
  7. I do not see a solution until the boomers die off. Turkeys do not vote for Christmas. By the end of the year my deposit fund will *equal* the amount that was my parent’s mortgage albeit one that benefited from a sizeable right-to-buy discount.
  8. This is something I noticed with my peer group during the last recession. Postgraduate study to try to ride out a weak economy. It is almost as though people become a bit institutionalized. Taking into account SATs (including mocks), GCSEs (including mocks), A-levels, and a degree I once worked out that I completed over 100 coursework/examination assessments over eight years. Contrast this with my father who left school at 16 and therefore had an extra five years of earnings at the age I graduated.
  9. I'm ready to move mine to HSBC for an extra £60 interest pa. Every little helps....
  10. Should have taken my father’s advice – “never buy leasehold”. Although in his 20s there was plentiful social housing and it was possible to raise a family on one salary…
  11. I'm confused. Are these the same landlords that refused to accept "DSS" pre-covid? Strange that they want Government money now...
  12. There is the problem. After years of saving I now have a deposit that would allow me to buy in London, but I cannot see the point when money goes much further elsewhere. You play the hand you are dealt and I’ve made peace with the fact I was simply born too late to compete with boomers.
  13. Yes – do not delay. Yesterday I was mulling over opening a West Brom building society account as it offered a dizzying 1% interest rate. It has already disappeared.
  14. Ditto. I have moved my deposit fund every December for the last three years. Post Office > The AA > Marcus I’ve worked out that a move from Marcus would allow me to gain an extra £50 a year which is hardly going to help me compete with the local BTL boomers.
  15. During the last recession I had to apply for lots of jobs I was not qualified for just to keep the dole money coming in. I am sure the applications were annoying for some HR departments, but I did what I needed to do to survive. This time around I have been very lucky. I have a pretty recession proof job (work increases rather than decreases during recessions) and I am getting London weighting despite not commuting so effectively a pay rise.
  16. I’m seeing a few posts go viral from people who have clearly spent months sending CVs into a black hole. I’m very lucky that my current employment has seen a 4x increase in workload during the covid-19 period. I’m in the right place at the right time but it is luck on my part. I graduated at the peak of the last recession and I also know what being in the wrong place at the wrong time looks like. It was terrifying graduating around the time of the Olympics. The key takeaway points from that period: · Experience is more important than grades although in a recession nobody wants to train. · Employers do not have to respond in a recession. They can be as rude as they want. They can make you jump through hoops like a dog at crufts. · The stigma of unemployment sets in surprisingly quickly. I remember an interview with an insurance firm (off Fenchurch St) where the first question was ‘how long have you been searching?’. That is never a good sign. · A CV gap can become incredibly problematic · Not having a ‘rainy day’ fund can also be incredibly problematic. I have a five figure rainy day fund now!
  17. My Dept at work has seen a 3x increase in work during covid19 so there is no immediate prospect of a Universal Credit application. I am too young and missed the boat re house price inflation. I would have needed to get a mortgage when I was still in nappies. It is a pretty grim thing to say aloud but I feel as though my chances of home ownership are increasing the longer this goes on.
  18. I won’t be celebrating. VE Day led to a baby boom that has locked me out of home ownership. I wonder if on a subconscious level the boomers are really celebrating being the beneficiaries of post-war social democracy.
  19. Strangely I had a DM comment moderated (removed) this week which has never happened before. Someone clearly didn’t like the suggestion that Coronavirus would be good news for FTBs!
  20. That is what haunts me re my time at University. Ultimately time spent cannot be regained. My time chasing a degree amounts to years of lost earnings. I simply didn’t appreciate the value of time aged eighteen.
  21. Ready to top up the Lifetime ISA on Monday. Looking forward to gaining another £1,000 of taxpayers money. Should help if zoopla is flooded with probate sales once this is all over. ?
  22. I was going to make a ‘You Only Live Twice’ quip but it was a Connery film....
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