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House Price Crash Forum


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Everything posted by Prof

  1. I bet they`re even more "upbeat", knowing that a fair amount of £££ might be coming their way from index linked savings certificates. :angry:
  2. I reckon I`m averaging about 3%, with no money "tied in". I`m watching `em like a hawk though. Any bank that tries to sneakily drop the rate they`re paying me will soon see a withdrawal on my account.
  3. I`m thinking of investing in a wood burner (while I can still afford it). At least the remaining savings that I have can be withdrawn as £5 notes, they should keep me warm for a minute or two.
  4. Whisky Delta, Whisky Delta, this is Charlie Tango calling.............. I`d like to know where to put my savings, that is risk free and will simply keep up with inflation. Over.
  5. Let`s just hope we can batten down the hatches and wait for the storm to wipe out the less prudent. Not that I wish bad things to happen to the sheeple, but I am checking my stocks of mint sauce.
  6. Yes, but IF they`d done that AND used base rates to control that inflation, whould housing costs be as high as they are now ?
  7. One thing`s for sure, they`ve now got even less chance of me contributing to the increase in VAT. I shall cut my spending by a further 5%.
  8. Guilty as charged ! I`m still "simmering". This is a bad day for the prudent.
  9. Unofficially, they`ll be available again after the VAT increase.
  10. Better still........ With ILSC`s, you had the choice of a 3 or 5 year term. Maybe the governments new scheme could offer the choice of - 1) Pay a monthly sum to make up the difference between a landlord`s mortgage and rental income, or to cover tenancy voids. 2) Pay a lump sum to your choice of mortgage payer in negative equity. 3) Donate a sum to cover the mortgage arrears of a "hardworking family". 4) Pay the deposit for a FTB`er who wants to get a foot on the ladder. In return, you`ll recieve postcards from the recipient when they go on holiday. And once the recipient is back on their feet, you`ll get regular valuation reports on their property, so you can see the beneficial effects of your generous donation.
  11. Sold mine about a month ago, to "lock in" recent gains. I have been thinking about re-investing any time now. So much for that. So, inflation is > savings rates, and ILSCs are off the menu. This is painful, watching my lifetime savings being slowly erroded by inflation and semi-unemployment. Why don`t they just let me know the name of the over-mortgaged person I need to pay the cheque to ?
  12. Me too, but we`ve been here before. However, this time it might be for real, maybe.
  13. I would have thought the first thing to do would be to make a phone call.
  14. I would have thunk that the LL should make provision for decent TV viewing, be it by an aerial, or a Freesat dish. Legally, it might be the tenant`s resposibility, but if I were a landlord, I`d want to employ my own aerial installer to carry out the work. If a tenant pays to have an aerial installed, then he/she would be well within their rights to take it with them if they move out. In my mind, an aerial is "part of the property", just like the central heating boiler or the mains sockets. It might also put off a prospective tenant if they know they can`t watch telly without shelling out for an aerial. BTW. Indoor aerials are often not suitable for reliable Freeview reception, boosted or not. They can work, but ultimately an outside aerial is the safest bet.
  15. It does seem that the BM employee who puts the letter into the envelope, doesn`t pass it on to his/her colleague to put it in the post for several days. Its also seems that they receive a cheque, but even a week later don`t know they`ve received it, so they write to you to tell you they haven`t got it. That`s when the "fun" starts. If it wasn`t for the fact that I was on their case, I think I`d still be waiting for my ISA deposit to take place. I dread to think how they`ll behave when I try to transfer my funds away from them.
  16. No we don`t. What we need to do is talk ourselves into "boom", just like we did before 2007. What can possibly go wrong ?
  17. I used to respect and admire JD for his media interviews. Having listened to his most recent efforts, I`m beginning to think he has lost the plot. I even posted here a day or two ago, that I thought he should "calm it down a bit". He needs to employ his surgical knife, rather than his sledgehammer.
  18. Sounds like bank "B" in my story. I think I`ve got everything sorted now. It turns out that bank B wrote to me, 8 days after receiving the ISA cheque from bank A, to tell me that they hadn`t received the cheque ! Two phone calls to them, when I received the letter two days later, and they insisted that they hadn`t got the cheque. Is it a coincidence that Birmingham Midshires starts with the letter "B", and I had trouble with my new ISA provider ? (No).
  19. PS. I wish FP, whoever he is....... would just calm down a little, and present his arguments with a little more restraint. I heard him on a radio interview recently, and he sounded a little "manic", he kept interrupting his "opponent", which I thought lessened the impact of his message. I have witnessed the FP of old, deliver his message in a calm manner, which struck fear into the hearts of the property types, but brought a smile to my face. Still, it`s good to have someone who tells it like it is, and tries to balance the media`s "property only goes up in price" mantra.
  20. Exactly what I was thinking when I read this news. Funny (not) isn`t it ? When the party is over, and the hangover is starting to kick in, people start to blame the bartender for serving them too many drinks. Mr Pebble has been telling us (in large, bright fonts) that Liar Loans contributed more than just a small part of the house price boom. Despite Eric`s protests, and the evidence of mortgage fraud taking place, as shown in one or two TV documentaries, very little seemd to have been done to prevent it. As I`ve said before, even if the fraud was commited by a fairly small percentage of mortgage applicants, the knock-on effect affects virtually every honest applicant. Every month now, I`m reading about a few more mortgage brokers being "found out". Where were the authorities responsible for policing mortgage brokers when this was taking place ? I`ll answer that myself - probably filling their boots with BTL properties, funded by the some of the same brokers who now find themselves being fined. :angry:
  21. http://www.politics.co.uk/opinion-formers/press-releases/economy-and-finance/bsa-comments-on-oft-response-to-cash-isa-super-complaint-$21381004$364271.htm So, that`s lower Cash ISA interest rates then.
  22. I`ve just cashed in my 3 year certificate, due to expire next Jan 1st. The reason is that it`s showing a decent increase in value at the moment (about 9% since I invested 2.5 years ago). I`m thinking that RPI will fall a little between now and early 2011, so if I hung on, the value of my certificate would fall back a bit. I`m going to reinvest in a couple of months, hoping to benefit from the VAT increase.
  23. Yes, DC may have lied about not putting up the rate of VAT (although he may have been clever with his use of words by saying something like "we have no plans to put up VAT). After Tuesday`s budget, I witnessed why he couldn`t tell the truth. The UK has massive debt. We all know that. You can comapre it with other countries, you can make it sound better by quoting all sorts of facts and figure, but we still have a massive debt. We had a choice, either deal with it, or leave it for another day/month/year. Best thing to do with debt is to get rid of it asap (see examples of those who have racked up large credit card debts). So, why couldn`t DC say "yes, we probably will have to increase VAT" ? Well, I saw J Public`s reactions to the budget, and the majority thought they were being hard done by because they were going to be a couple of hundred quid worse off per year. That`s why Cameron couldn`t tell them the whole truth. Large numbers of the UK population have been on a debt binge, their attitude to debt is "we migh pay it off, someday". If they aren`t too concerned about their personal debt, they sure aren`t going to be too keen to pay off the national debt. Brown didn`t want to start reducing the debt (or should I say reducing the rate at which the debt is increasing) until next year. This attitude is why we are where we are now. It`s a bit like those folk you see with £30K credit card balances. I always ask myself "at some point, did you not stop and think that you ought to stop increasing the debt, and start reducing it ?". I doubt it.
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