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Posts posted by iamnumerate

  1. On 19/10/2021 at 20:13, jabber said:

    This is hilarious. I fixed my buy to let mortgage on a Brighton flat earlier in the year for a 5 year term. IO mortgage in the region of £350 a month. Tenant pays £1250 a month. Why would we possibly sell up. This site like a cracked record and following the advice on here is potentially very financially imprudent. 

    When did you buy? 

    Already answered thanks for that.

  2. 11 hours ago, Pop321 said:

    I’m confused. So if I buy a concrete flat, stacked like a rabbit hutch in a built up city area it might be worthless. Well who would have thought that 🤦🏻‍♂️

    You might think that it is obvious - but many people aren't.  A friend lives near a big block of flats in South London which cost more than neighbouring houses (which don't have leasehold).  She told me that she thinks the buyers are crazy - but others seem to think that a flat is like a house without a garden and if you don't like gardening why not buy a flat to save a few minutes walk to the station!

    These are 15 years olds or new immigrants from countries without leasehold but people who were born here went to uni here and lived many many years here.

  3. 4 minutes ago, spyguy said:

    Flats in boro have a very very long history of turning out to b worthless.

    He could have checked with someone whod done similar in the late 80s.

    You cannot expect to make money buying in boro - too many houses, too few people with money.

    Thats been the case for almost 40 years.



    Moving people from London who don't work to Boro would reduce the number of empty houses there and increase the numbers in London a real win win.

  4. 21 minutes ago, simon2 said:

    That dude has been on before whinging about something.

    Truth is after 14 years you shouldn't really be in negative equity even if the price of the flat has declined. 

    It isn't really a leasehold problem but if you are suckered into buying a new shiny thing for well over what the comparables are in the area then you may have a problem if the local market is not favourable to you.

    Don't really need a professor to explain this.

    Actually I think his flat might have fallen so much that even if he were on a repayment mortgage (they didn't say) the debt could still be higher than the value of the flat.

    IIRC it went from about £95K to about 40-50 K - although even so still not a massive amount.


  5. https://www.bbc.co.uk/sounds/play/m0010gxz Apologies if this has been posted before


    Lynsey Hanley tells the story of 35 year old electrician Steve whose one bedroom flat has plummeted in value. Every home has a story to tell about the UK's housing crisis. When Steve first bought his one bedroom flat in Middlesbrough he saw it as a huge achievement. He had grown up in a council house and was delighted to be a home owner. 14 years on, the flat has declined in value by tens of thousands of pounds. Lynsey Hanley explores why. House historian Melanie Backe-Hansen looks at the history of the land that Clough Close was built on, and Professor Paul Cheshire examines the reasons why Steve's flat has proved such a poor investment.

    What I thought was really weird was when he said "Now everyone knows about the problem about leasehold" - they really don't in London!

  6. On 16/10/2021 at 00:44, spacedin said:

    Council tax rates are obviously dependent on where you live but you wouldn't pay much more than £83/month after the single person discount in Band A in most places. 

    IIRC, pensioners on pension credit don't even pay council tax. 

    Personally I can easily survive on £10k/year, comfortably but then I'm used to being poor.

    I think pension credit and all other benefits should only be for people whose houses are worth less than £600k.

    Everyone else can move.


  7. On 17/10/2021 at 11:07, msi said:

    I've seen a 2-4% increase in mpg with E10 so my experience of 1 means that E10 is great, yeah?


    All this talk of a 'hidden agenda' with E10 is straight out of the 5G in vaccines playbook.  Everyone here suddenly becomes a chemical engineer fully versed in internal combustion and power dynamics.



    Can people really measure that level of performance in their own cars?  Anyone who thinks that a small figure means it is great or bad seems to either a)

    drive a lot in very similar conditions and takes very good records

    b) has not realized that user error could be more significant than any flaws with / benefits of the the fuel

  8. 3 minutes ago, slawek said:

    There many databases, which are not linked and some are incomplete. 

    To do this properly you need to add all budget inflows (income tax, corporation tax, council tax, VAT etc)  and all outflows (benefits, impact on NHS, police, schools, council services etc). Additionally you need to handle mixed families. 

    That is only analysis as of now. A better way is to do this is over a lifetime of a generation to capture overall impact on the budget. This requires a lot assumptions about the future income of immigrants, their life expectancy, how many children they would have, how much these children would earn etc. 

    You don't have to have an exact comparison (and the cost of police can be calculated by looking at prison numbers).

    Just look at benefits out and taxes in - for similar ages and different nationalities.

    Life expectancies are not that different between Brits and immigrants so don't really need to come into it.

  9. 1 hour ago, slawek said:

    Depends on the data. If it is in a database - and hopefully the Government does know how much every tax payer pays - because that is how we get our pension entitlement it is not that difficult.  SQL is not exactly rocket science.

    However even if it is very difficult you would have thought that they would have made an effort, considering how important it is.

  10. 16 minutes ago, slawek said:

    They do. The system requires nationality to register a new NI number.

    Then why didn't Blair etc publish the figures?

    Either a) they are too incompetent (my theory)

    b) the figures would show that immigration from some places is not good for us

    c) they were worried that all benefits and taxation might be good but other figures social housing crime would be bad. So didn't want to talk about the numbers.

    d) Blair and Cameron wanted to get us out and so hid evidence of how wonderful EU immigration was.

    I think (d) is crazy and a is more likely but b and c could be true.

  11. 4 minutes ago, slawek said:

    A total rubbish again. 

    Practically all HPI since 2000 is explained by lower IRs and wage increase.

    "15-20m migrants since 2000" is just a plain lie. 

    Immigrants are net contributors to the UK budget.  On average they are better educated and fill important jobs as shown recently.  

    Do people really know that?  As far as I know when someone receives benefits or tax the system does not say record whether someone is from another country or not.

    It would be great if NI numbers did record where someone is from and then it would be possible to say these things for age and prove it one way or the other.

    (Give me access to the database and I can do it in a day if not less).

    If the average immigrant doesn't cost anything then presumably not giving them benefits or council housing etc would be a non issue as they weren't getting them anyway.

  12. 14 minutes ago, dugsbody said:

    I don't think there are lots of people who believe that. I for one believe that supply is greatly important, I just also believe that the biggest driver of high house prices (by some way) has been interest rates.

    You can work it out for yourself. Plug some some numbers into a mortgage calculator. You can afford £1000pm repayments. Test various interest rates and see what you could have bid for a house when mortgage rates were 10%, 7%, 3% and 1%.

    The thing is that house prices are not so important it is the ability to pay for a house.

    Now obviously it is better to buy at higher rates and lower rates are harmful.

    However HPI has really affected different parts of the UK at different levels.  I calculated that in some parts of the UK the cost pcm to buy has not gone up that much more than inflation.

    However in others it has gone up much more so supply must have a very big effect.

    For example there are parts of the UK where some types of property have gone down since 2006 - and of course interest rates have crashed since then like flats in Preston (as other types of property in Preston have gone up a bit I would assume that this was caused by over supply of flats as opposed to a local severe recession)






  13. 43 minutes ago, spyguy said:

    I notice people are starting to move on from 'not that mant migrants' as the number are so large and obvious now, to even to the dumbest.


    UK inwork subs are so high and the public services services so expensive that any increase in low skilled migrant will cost a fortune.

    Who cares?

    Well, are you not seeing the housign crisis?

    Theres 15m-20m migrants in the UK since 2000.

    This is the cause of pressure on housing stock, public services UK budget.



    Sadly lots of people believe that the only thing that is important is interest rates - demand and supply are not important.


  14. 1 hour ago, MancTom said:

    in fact in an office shared with others you get less work done. The dossers constantly interrupt you wanting to gossip about what is in the news, others in the office etc. Or spend 30 minutes ranting about a colleague that did something they did not like etc.

    I'm happy to go in for a good reason of course, e.g regular supervision of a junior new person who needs support, but not just so it looks "vibrant" to students as senior managers have said!

    Depends on what you are doing - sometimes it can be more productive sometimes less.

  15. On 12/10/2021 at 11:00, scottbeard said:

    Sadly not, as services are just scaled back to save money to the point where they are packed again :(

    What problems?  Several of my family are WFH civil servants and don't seem to be having issues?

    A friend of mine is a civil servant and was told to work from home - despite the fact that they couldn't connect to the office for security reasons.  They are now back in the office.


  16. 17 hours ago, IMHAL said:

    Oh I see. So there are no policies, laws or otherwise set out by labour. Thanks for clearing that up.

    From 2018 https://www.thetimes.co.uk/article/labour-subsidy-for-non-white-members-divisive-and-illegal-l73nmslnb


    Labour is facing an inquiry by the Equality and Human Rights Commission into its decision to charge non-white attendants at a conference less than white ones.

    Next month Labour will hold an event in Loughborough with Jeremy Corbyn speaking that will charge £40 for white members and £30 for non-white members.


  17. Just now, Si1 said:

    Think of the landlords:




    Peter How, a landlord with around 40 properties in Yorkshire, said cheap mortgages had given landlords "margin to balance the books" and warned a rise in borrowing costs would mean "big trouble". "The only thing we have working in our favour right now is low interest rates.

    "A big rise in rents will be the only way for those landlords only just breaking even to carry on. Either that or landlords will sell up and there will be even fewer rental properties on the market, which will also push up rents," said Mr How. 


    Translation we had a breathing space and could have used to pay off debts - we didn't help!!!!

  18. 1 hour ago, MARTINX9 said:

    Apparently just under half of investors surveyed by Deutsche Bank are worried an early rise in the base rate to 0.5% could derail the economy according to the Telegraph today. 

    Someone with a £200k variable rate mortgage for example would have to pay £50 more a month on their mortgage - probably half the amount by which their fuel bills are going up due to inflation etc! We can't have that of course!


    It is weird about people looking at fuel bills.  In 2001 thanks to HPI I and other first time buyers were paying £100 pcm or more than we would have done. However no one cared about us.

    Gas prices rising are a disaster.

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