coypondboy

all about self preservation I expect to see many more do the same as the lifestyle, salary, expenses and 1/30th gold plated pension is well worth preserving fook the constituents and many employ wife and family to help run the office. Nice little earner. Fingers crossed they end up in house of lords for their bravery in switching if they lose at the upcoming election.

fixed with nationwide at 3.99% for 5 yrs with no fee in feb 2024 only 5 yrs left on mortgage so didn't want to risk it

Bournemouth and other beach resorts could boom as it gets too hot to go to med for summer hols and locals in those places can fly to UK for 30 quid return might be tempted to come here like the arabs do in London to avoid heat.

Another 5 million as labour now in government

Interesting charges sheet for leaseholders living on the former Olympic village site in east London where thousands of section 20 money demands to fix them issued. This si what happens if you don't pay up within 30 days. Interest charged at 9.75% by freeholder from date of issue of bill for any late payment, admin charges 300 quid and legal fees 500 quid, If 30 days expire another 300 quid admin fee and legal cost of 150 quid. If unpaid forfeiture of lease comes into play and made homeless if judge deems you are at fault. Just imagine if you have 500k tied up as retiree and paid off any mortgage you lose the lot and have to re-enter the rental market. England and Wales the only countries in the world who do this and the royal family the biggest freehold landowners in the UK.

I fondly call the BCP merged council (Borough of Cockney People) which with outlying towns has a catchment area population of 0.5 million. The biggest influx has been retiring and quitting Londoners in so called white flight moves as crime and unrecognisable parts of London due to mass illegal and legal immigration with little english spoken and forced many to upsticks and who can blame them. I have lived down here since 1997 and regularly talk to beach hut owners many with our Arry Rednapp accents (our most famous celebrity who lives down here and now a property developer converting hotels and large houses into flats). Lots of local del boy property developers making a fortune selling to these Londoners who have the money and think prices cheap compared to back in London. Sadly the avaergae wage is 25k pa for the locals with many on minimum wage whilst the average 2 bed flat hits 300k or rent for 1600 pm. The sea, the heathland and the new forest and purbecks on either side make it very difficult to build on greenbelt although 5000 new houses currently being built between the airport and broadstone via previous tory run council. The LibDems now in charge for over a year so not as easy to do this so brownfield sites priority. Supply and demand will keep prices up from what I am seeing and little coming onto market and if in a nice area and good nick selling quick. Oversupply of flats with 15k to be built over next 10yrs to meet housing targets as no more room for big housing developments as little green belt left not already being built on. My prediction housing in good areas will continue to increase in value whilst flats will fall in value due to fire safety regs causing large increases in service charges going forward and if labour introduce scrapping of leasehold for existing flats will make this an interesting market as tax payer will pick up the bill. Its a beautiful place to live and retire to so anticipate all those like me taking early retirement at 57 to move here and with summers in Europe expecting to be in late 40's expect many to come here to holiday as we have a great airport with Ryanair and Jet2.com operating lots of flights for 30 quid return. Would be interested to know how many Londoner's/South East dwellers on this site tempted to retire down here over the c coming years?

Would love to know how many people have moved to UK both legally and illegally in past 14 yrs bet it is much more than 300k houses per year and might explain why house prices and rents have risen

brand new block of flats being built by RNLI headquarters in Poole Dorset most solid off plan to Londoners. 2 bed for 425k avergage wage in Poole 25k so 17x salary we need to bring back self cert mortgages. www.rightmove.co.uk/properties/146625602#/?channel=RES_NEW

Russian offensive in full flow with cluster bombs anyone think they will get to Kharkiv as Ukranians running out of ammo and men?

yes but 20 million more people living here so supply and demand a major factor and why I don't think prices will fall much

Public sector debt will continue to spiral as may in public sector taking pensions at 55 and then working via agency and earning double the rate for doing the same job. Happy days and if they live to 110 will have had a pension for as along as they weren't getting one. The outlook is bleak and with labour likely to be in for next 10 yrs will only get worse unless run on the pound and they are forced to do something to avoid an IMF bailout just ask Argentina how that is going.

adhering to the new building safety rules will add 50% to service charges as mgt companies milk it charging 150 quid per door inspection every 3 mths for all blocks of flats over 6 storeys as just one example. Its the project mgt fees to implement the chANGES HWERE THE REAL MONEY IS BEING MADE.

china invade taiwan or ryanair to go transatlantic and help to boost global warming?

Building safety costs for anyone in a leasehold flat over 3 stories will add a lot to service charges as more buildings are refurbished to meet the new regulations. I expect them to double for most leaseholders which will affect prices as 6-8k for a 2 bed flat is like having a 2nd mortgage in retirement. Just check out this invoice received yesterday.

The world will be a safer place if they can wiper out Iran's ability to make a bomb has they have shown they are more than happy to use it on Israel. I think they should go for it with or without US support. The Iranians do not have the sophisticated weaponry to stop it and Israel may not get another chance before the Iranians have the bomb.

Good time for China to invade taiwan

News in overdrive something big about to happen get the popcorn ready

Getting close could happen tonight

Sadly looks like the next stage in the Middle East war about to start with Israel looking to invade Rafaah and Iran looking for revenge after recent assassinations of leading Iranian players in the region. This will be bad for oil prices/ inflation and stockmarkets so have just moved my ISA an d Pension holdings into cash after a good run.

Oil prices and now food prices due to the impact of BREXIT and new tariffs from 31st April will Richi as former chancellor have a word with the BofE governor to get a few interest rates cuts before he calls an election on October 17th (Sky News best guess) or will inflation bugger up his plan. Nigel Farage#s 60th birthday party had a few Topry Mp's there will they defect to Reform party or will Richi threaten them with calling a general election earlier if they do. The latest polls look disastrous for them but as Maggie used to say the only opinion poll that counts is the one that shows the result on election day.

Great article in BBC London news tragic for those involved and sadly BOMAD/GAG will have to bale them out as they headed to the big smoke to follow in Dick Whittington's path and looked for those streets of gold via the housing market and were sold a PUP. https://www.bbc.co.uk/news/articles/ckkvkv32e1ro

https://www.bbc.co.uk/news/articles/ckkvkv32e1ro?xtor=AL-72-[partner]-[bbc.news.twitter]-[headline]-[news]-[bizdev]-[isapi]&at_ptr_name=twitter&at_bbc_team=editorial&at_link_id=5F202D30-E1CE-11EE-8606-07F34B3AC5C4&at_campaign_type=owned&at_medium=social&at_format=link&at_campaign=Social_Flow&at_link_origin=BBCNews&at_link_type=web_link

Good Morning chaps and ladies, just wanted some advice regarding my retirement and the chance of a lifetime to set up a holiday lettings company in Bournemouth. I have just put in an offer of 3 million on 12 townhouses in a nice part of Bournemouth. The previous landlord gone bankrupt and the lender (Nationwide) have the last tenants leaving at end of this month and want a quick sale as won't be getting anything back from landlord who cleverly went bankrupt but main residence in wife's name so they can not touch the home they live in worth 2 million. The 12 properties ate all identical on4 beds with 3 bathrooms and a 4th toilet. Built 14 yrs ago in excellent nick just need touching up paintwise and a furniture/bedding for each one. The properties are worth 500k each so 6 million but can get them for 3.5 million if quick and will do a 6 mth airbnb in summer from 1st April to 30th sept and then 5 month winter let . I have done some research on likely rental income and assumed only get 3 months in 6 month summer period after changeover cleaning days which I will get a company to handle (friend of mine will do it for 15% of rent). Rental income 144k pm based on 24k pm in winter and 120kpm in summer. I am doing a bridging loan for 3 million but my house is under offer for 700k and tax free lump sum from pension and ISA savings will take this to 1.5 million and will be selling apartment in Austria worth 400k so plan to take out btl on the 12 properties fixed at 3.99 for 2 yrs and use 40% down payment once I have funds from my house sale. Plan to put them in a ltd company and keep one as main residence in wife's name only and I will be sole shareholder in company. The houses are worth 6 million on open market so could sell 2 to knock another chunk off if rental income doesn't match projections.

I was amazed how much 5 yr fixed rates have fallen in January from 5.99 to 3.99 that's a 2% drop whilst trackers still at 6% ?

Sadly as I found out you can work up to state pension age of 66 but if made redundant before you reach it and have any assets over 6k you get 90 quid a week for 6 mths then you are on your own. Lots of people in mid 50's like me having to draw on their pensions now to see them through to 66. Luckily mortgage almost finished and no kids and can downsize if need to if I run out of money but nightmare for many people trying to get another job at that age.