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House Price Crash Forum


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Everything posted by shlomo

  1. This is nothing to do with Brexit or the Tories, this is the new business environment because of the coronovirus
  2. I have a friend with 14/16 BTL and only 2 are paying the rent he is minus 20k per month he is months away from bankruptcy
  3. I am hearing this story a lot, lot of tenants have stopped paying rent
  4. https://www.dailymail.co.uk/news/article-8676943/British-family-rented-home-work-Qatar-return-UK-Covid-eviction-ban.html Emma Burton and her family are living with her parents after the tenant renting their Merseyside home stopped paying rent and refused to leave. The situation for Emma and husband Russell, both 41, and their two children, Thomas and Poppy, was made worse by the government's extension of their ban on evictions until September 20. While many are thankful for the government's intervention to prevent evictions by rogue landlords, some families like the Burtons that rely on rent income to support themselves have been hit hard. ------------------------------------------------ Enjoy.......
  5. https://www.glamourmagazine.co.uk/article/dangerous-cladding-grenfell?fbclid=IwAR0jmyYpJHbEZBZtC5M3WV_lShTWCZ6Mg2rhVmEGb-llJdRbVnnSfWW91OI Glamour speaks exclusively to women leaseholders who are living in a perpetual state of fear for their safety and financial future. It may take years to resolve the issue at a cost of billions of pounds. But who will be picking up the tab? Are leaseholders being thrown under the bus and forced to pick up the pieces? And what is the government doing to address years of substandard construction while also operating under the motto ‘build build build’? Like many people living in urban spaces during lockdown, 33-year-old media professional Amelia Travette and her partner Nick began thinking about the prospect of moving out of London to be closer to their families. The couple bought a 2-bedroom flat at the Olympic Park in Stratford East London in 2017 under the shared ownership scheme. It’s in a high rise building which was previously the athlete’s village during the London 2012 Olympics and has amazing views of the city. “We’ve been really happy here,” admits Amelia, “but lockdown made us re-prioritise so we started the process of looking at other places.” Little could have prepared Amelia for what she was about to learn next. “In July we received a letter from our housing association telling us that an inspection found ACM cladding on some of the property,” says Amelia. “Initially we didn’t realise what that actually meant. Until you start looking into it, you’re just not aware of the gravity of it all.” I spoke to. Davina*, a 36-year-old professional, was in the middle of undergoing intense IVF treatment last year before the cladding scandal wreaked havoc on her plans. As someone with endometriosis Davina had surgery to clear scarring in her uterus and had started hormone stimulation so that her eggs could be harvested to make embryos. As a single woman she was going it alone with a sperm donor and had saved in the region of £20,000 for a three round package of IVF from a private clinic as she didn’t qualify for NHS funding. To get that far down the road only to have your dreams of becoming a mother quashed because of a potential cladding bill is heartbreaking to listen to. “I decided I couldn’t go ahead with it knowing I could have a £50,000 bill or lose my home. There was no other outcome,” she says. “Losing your home is final. If I lose my home I become bankrupt.”
  6. https://www.spectator.co.uk/article/the-new-cladding-scandal-that-could-bankrupt-a-generation Within the next year or two, I could go bankrupt. My mistake: to join a government-backed affordable housing scheme and purchase a one-bedroom flat in east London. For the past four years, it has been my pride and joy — not to mention my savings, my pension and my financial future. I was grateful for the government’s help in getting a foothold in the city. But now another government policy is hurtling towards me, against which I have no defence. Nor do potentially tens of thousands of first-time buyers and the owners of affordable housing in my position. It might be the next big scandal to hit the government. It’s about cladding. Three years ago, the tragedy at Grenfell showed what can happen when you get this wrong: insulation added for environmental reasons turned out to be highly flammable. The residents were living in a death trap, and when a fridge caught fire, the tower block became an inferno. This, of course, raised the immediate question: how many others are living like this? The answer, it turns out, is all too many — 600,000. Including me. Or so we’re now told by my housing association. We’ve been warned that the cladding covering our block of flats, along with 11,300 other buildings across the UK, is potentially combustible and has to be tested. Should it fail those tests, the cladding will have to be replaced — and that huge financial cost will most likely fall on leaseholders. You might think this is unfortunate, but is it really a disaster? Unexpected expenses are, after all, one of the normal pitfalls of home ownership; in the great Monopoly game of life, you pick up a Chance card that has you buying a new boiler, fixing your roof or treating subsidence. Is cladding so different? Since I can’t sell my home or remortgage, my property is technically worthless The answer is yes. First, a good survey can protect you against repair bills. There was nothing to protect me against what turned out to be inept government regulations, which allowed flammable cladding to be fitted. Next is the scale of the cost. The new draft building safety bill — due to be examined by a parliamentary committee — makes clear that leaseholders will be liable for sums of up to £78,000, payable within 28 days. Other home repairs are affordable; this would be crushing. And all the more so because I’m a shared ownership tenant. I own a 40 per cent stake in my flat (my housing association owns the rest, which I pay rent on) but I’m liable for the whole repair bill. To put it mildly, I don’t have £78,000, or anything approaching this sum. We’re not talking about being sent back to the beginning of my financial life — I’d be sent way backwards. It would take me years of work and savings to pay off the debt.
  7. Brilliant, just brilliant and now for other news "Covid 19"
  8. Why is the EU trying to start a war in Belarus, where the result will be millions of people/workers will come to the EU and work for minimum wage. When i went on holiday to Romania i was told the country was now mainly owned by Germany in France, the population did not want to be slaves of Russia but then nor did they want to be slaves of Germany or France.
  9. A friend told me this on the phone yesterday, I said the numbers cannot be correct, I was wrong they are
  10. Abuse is a strong word, my understanding was that they were exchanging sex for chicken and chips, they were not forced, if they accepted the rate of a high class hooker in the west end it would have been fine. As the catholic priest said where were the parents?
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