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House Price Crash Forum

The Ginger Winger

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About The Ginger Winger

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    St Ives, Cornwall
  1. I can identify Mr Wilson from the photograph, but who is the bloke next to him?
  2. Would it not be simpler if the tenant withheld basic rate tax on the rent and the tenant paid it over to the revenue, similar to the construction industry rules
  3. http://www.bbc.co.uk/news/magazine-22065978 Seems doable to me
  4. If houses are to become affordable then their must be a correction in the price. No amount of tinkering at the edges is going to solve the problem. Just let interest rate rise and it will all correct very quickly.
  5. It may be better for her to use her capital to buy an annuity, the rate of return could be higher than the mortgage rate she is paying It may be that she is getting income support on the interest It may be that she would rather spend her capital on living rather than paying off her debt, in the sure and certain knowledge that the state will be there to pay for her mortgage when her capital has run out. £50k at say 3% costs her £1,500 per annum £125 per month she may earn almost the same in interest but mnay feel happier having £50k sitting on deposit. It is not as simple as it first seems
  6. My son has taken a four week work experience in an estate agents unpaid save as to expenses he is based in Exeter. I met up the manager (a kid about half my age) with him this evening for a drink and my son The estate agency is part of a large chain and he told me the following 1) They are almost no real serious buyers on their books at present the situation has deteriorated since the spring, the summer, the Olympics, the diamond jubilee have all helped lower what interest there is 2) The only buyers they have are investors who want a real bargain and are only operating in the market up to £150k 3) There are literally only a handful of buyers registered who are actively looking at property priced in excess of £350k and in all cases they need to sell. 4) Most valuations return to the office with the news that the equity in the property is less than 25% precluding the prospective lender from moving, the only time these properties come on to the market is if the vendor is prepared to go into rented. 4) Lettings is the only line of business that produces some income for them 5) The manager believes that only a 20% reduction would create any form of real interest 6) Their mortgage broker who originally was based in their offices as an employee has been let go and offers services as a self employed consultant struggles with even straight forward cases. 7) The only reason prices have not crashed big time is that there are few properties able to be sold being bought by an equally small number of buyers. 8) a block of business at realistic prices has been offered to them by two BTL landlords who can see no future,rents may rise but that is scant comfort if prices fall by 20% There is no chance whatsoever that my son will be offered a job It really is bleak outside of London make no mistake about it
  7. What they forget is that when they go for a job interview , HR need only google their name and all will be revealed however many years have passed. I would not employ those types of air heads in anything other than in very basic clerical or manual work, they show no self discipline and no pride. Same with minor criminal offences forget about the rehabilitation of offenders act Google will still throw it up. This is the world we live in and it does not look very nice
  8. It would be more effective to say the current rate of 0.5% will stay where it is for at least xx months. Lowering from 0.5% will make no difference.
  9. I hardly think that on £70k per annum she can be desribed as a banking executive In London £70k is a very medicore salary. The average a couple of years ago was just around £100k
  10. Bridging finance from Companies who advertise in the catalogue come at rates of around 1.5% per month. For those who believe they can quickly Reigate and move on will pay that rate of interest
  11. It is the mortgagees who are the lenders and mortgagor the borrower
  12. If you are going to be naughty in the financial world do it for something spectacular big. Firstly the SFO will be involved and their sucess rate is not good secondly if they do succeed in putting you away you go inside with some Dignity Thirdly when you come out you can then sell your story
  13. This type of thinking sums up what is wrong with the whole benefit culture. We need to go back to the original concept where you did the best work you can and in return the state will top up your income to what is an acceptable level. Wingy winey 20 year olds armed with a calculator working out whether they should get off their **** and start thinking about work need a bloody good kick up the ****.
  14. Say I lend a mate £100 for the weekend and say pay back on Monday £100 and buy me a pint The interest rate assuming the pint cost £3.00 and the loan was for 72 hours Would be 3,546% APR The problem is that admin fees form part of the APR and I have some sympathy with the lenders
  15. A nurse in the Second World War would be considerably older than in her 70's if she was alive in 2012. If she was 16 in 1945 she would be at least 83 in 2012.
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