iamnumerate
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Posts posted by iamnumerate
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1 hour ago, Si1 said:
All these cases should be automatically marked as unsafe.
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3 hours ago, bearishonhouses said:
"you can't take it with you" so for someone who does not wish to leave a legacy an IO mortgage might make sense. For someone in that position, what is the benefit of dying with a 400k mortgage free house if the alternative was to have used, say, a 300k loan secured on the house to improve quality of life in their last 25 years in this world? For someone aged 70, 300k could purchase an annuity of about 27k per year. If the interest rate on the loan is less than 9%, it might be worth doing. And for someone older, the deal could be even more beneficial. If they die after only 5 years, so be it - they will not even know. If they live to 100, they will have 'beaten the system'.
Sounds a bad idea for the bank
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1 hour ago, scottbeard said:
It also makes a big difference whether:
- this person retired early at 58 and has a mortgage that ends at age 60, and has a nice chubby investment to pay it off in two years time
- this person is already about 65, has 10 years left on the mortgage, and has no way of ever clearing the mortgage balance itself.
Yes hopefully not the second one.
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36 minutes ago, TheResponsibleHouseBuyer said:
Out of interest why did you go for I/O?
As @scottbeard said I was quoting someone.
Sadly he or she just emailed the BBC who didn't ask questions like
a) why have you got I/O?
b) who thought that it was a good idea for a pensioner to have an IO mortgage?
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24 minutes ago, scottbeard said:
So many of the UK's problems encapsulated in that.
Yes
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17 minutes ago, ftb_fml said:
Scary for dickheads. Reassuring for anyone with more than half a brain / any sense of morality..
I am not sure that is going to do any of us good.
11 minutes ago, msi said:Absolute M*r*n, but somehow they'll still end up blaming Woke / Trans / Immigrants / Scroungers / LibTards / XR / Greta.
Do you really think only people with opinions like that take out mortgages like that?
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My I/O mortgage has risen from £200 to £1000 pcm (not sure of exact figures) and it is more than my pension.
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An acquiatnce told me that he had to sell his range rover because of ulez (I can't remember the model) amazingly he actually sold it after 7 years for a profit - so some people must love them!
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52 minutes ago, dpg50000 said:
Nearly a million quid for something with a combined lounge / kitchen smaller than the kitchen in my ~£300K house in the NW of England. People have lost their minds over the last 20 years.
You could buy a really nice house in zone 4/5 for that with no service charge.
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1 hour ago, TenYearToGetMyMoneyBack said:
Shortly before the pandemic there was a local Amateur Landlord with a portfolio of about 10 properties on a TV programme complaining bitterly that "Nobody told me that interest rates could go up". He must have breathed a sigh of relief when rates were cut during the pandemic.
It is hard to believe that anyone can borrow money without knowing that.
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29 minutes ago, MerchantNavy said:
Why can't they be placed in flats instead of houses? Surely that would be cheaper.
I meant housing in the sense of flats or houses.
It is weird to think that there are people who don't want people to get social housing near their jobs.
If we have social housing surely that is what it should be for?
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1 hour ago, bartelbe said:
You may not have noticed this but if you walk far enough in any direction you hit a big watery thing. We call it the sea and that is why there are less migrants here.
The fact 1000's risk leaving a wealthy country like France, on dangerous boats to get here, shows how much of a pull factor this countries lax regime is.
Is it
a) lax regime for id cards
b) ease for illegals becomming legal
c) generous benefit system?
The good thing is that the Irish Government has recently introduced an ID card so we can see if it works.
I actually know people who were living here illegally I am pretty sure if that had no hope of ever being legal they would have left.
(They are now British citizens).
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4 hours ago, debtlessmanc said:
Apply inheritance tax to houses only, this would free up huge amounts of large properties as relatives convinced granny it was time to sell up.
An interesting idea.
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3 minutes ago, sexton said:
A reservation to supply cheap labour? Would you expel them when they are no longer of use? Perhaps workers' barracks, with no families allowed, would be better.
That is a strawman argument and a bit dishonest.
Quite simple when there is a shortage of social housing in an area it should first go to people who work there.
It would be reallygreat for the environment as people would commute less. It would also help junior staff in the NHS etc.
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19 hours ago, Social Justice League said:
The fooking people in government and the idiotic capitalists need to think about protecting themselves and bring in UBI.
This will allow the punters to keep on consuming what corporations are shoveling. Without some kind of income, no one can consume anything, as even a BigMac will be out of reach.
A UBI and no housing benefit would mean that a lot of people on benefits in expensive areas would not be able to afford to live where they are now.
That might be a good thing but it would be very unpopular.
UBI plus housing benefit would be similar to the system we have now so why change it.
17 hours ago, andrewwk said:way too rational. in britain, the answer to every problem is always extra govt spending
+1
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56 minutes ago, bartelbe said:
Yes it is because you need those cards to get work. Sure you can work in the black economy but that is nowhere as attractive as the UK. In which the rules on such checks are barely enforced.
If that was changed, say business owners having to do jail time for failure to check the legal status of workers, the flow illegal immigrants would end.
But are there less illegal immigrants there?
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2 hours ago, winkie said:
So you think anyone rich enough should be the only ones that should live in certain areas.....ghetto/gated like......even those that work there can't afford to live there, those that did live there are not selling to local working people, they can't afford to buy the houses, they are selling to rich wealthy people that live somewhere else, home or abroad.
Not what I said. Not even close. Were you confusing my post with a different post?
I was in favour of housing for poor people who work in an area.
At a hospital near me a staff member compalined that they had to commute long distance because of high house prices - under my scheme they wouldn't good for them, good for the environment.
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3 minutes ago, cbathpc said:
We've tried everything except building houses!
Perhaps the real answer is some innovation. Why does social care cost so much? Why can't retirement flats be ran in an economically sane manner, surely it would be much cheaper to build these places and provide care from there, rather than have an army of carers driving from residence to residence
Same with single mums, surely we can build large buildings containing multiple flats to house them in, I know high rises are ugly, but is this better?
Some good points. We could also only provide housing in expensive areas to people who work there - others should be given houses somewhere cheaper.
I used to commute real long distances to a place I couldn't afford to live in whilst others were given free housing nearby.
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17 hours ago, Housepricecrash91 said:
Agreed.. £200k isn't cheap.. The complex is clearly a dump. The flat itself needs a lot of work, it's 1-bed, it's mostly council, it's probably rough and crime ridden. It comes with a service charge too.
+1
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2 hours ago, bartelbe said:
The big pull factor in the UK, is it is easy to work and rent without proof of ID. This is a country in which multiple illegal factories were found in Leicester during Covid. Just let that sink in, the enforcement is so lax you can run a factory which has dozens of employees, large premises, deliveries going in and out. Yet nobody notices.
So in theory, if only those who have the legal right to work here can work, the pull factor for economic migrants goes away.
Is that really true? Is life really harder for illegal immigrants to live illegal in countries with ID cards?
2 hours ago, bartelbe said:The flaw in the plan, is it relies on the totally inept and useless UK government to enforce the rules.
Yes why my plan saying that if you are illegal you will always be illegal seems to be easier. Living illegally for 5-10 years in the UK and never being able to go home and then being legal, would be a lot less attractive than having to live here illegally for ever.
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34 minutes ago, scottbeard said:
That's nonsense.
My parents are boomers. Yes they own a house. But they live in it. Their income comes from pensions. If the house fell in value by 50% that doesn't make them "destitute". In fact it wouldn't affect their standard of living at all.
Which is why HPI is not really such a great thing. It is a net negative to the economy.
It only really benefits people with more houses than children, or people in negative equity who want to remortgage.
Although lots of people think that they are richer.
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1 hour ago, bartelbe said:
That is a refreshingly sensible reply and a rare thing.
Most of the time when you try to discuss this, all you get is racist screamed at you.
I don't understand why people think ID cards will help. Almost every country has ID cards and has illegal immigration.
The solution is to say if you are illegal you will never become legal nor get benefits - get rid of the incentive.
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1 hour ago, Insane said:
How can you fix the housing crisis when you increase the population by 600,000 a year ?Far more people are being bought in than boomers dying off.
You do contridict yourself.
+1
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3 hours ago, PeanutButter said:
Wait until you find out how many council tenants move out and sublet their multi room properties to sharers…
A friend of mine is a council tenant and one of the neighbours in block of flats did that but they didn't report him because they were worried a problem council tenant would come in.
Scary quote from the BBC money box live
in House prices and the economy
Posted
You have greater faith than I do on banks being responsible.