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House Price Crash Forum


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Posts posted by Prof

  1. Oh nooooh!

    Don't worry all is in hand and I have a class 1 chimney, I even have a built in coal shed. PC planning member too.

    Apparently 'smiffy' has had a woodburner put in and he's merely a housing association tenant!

    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 At least the remaining savings that I have can be withdrawn as £5 notes, they should keep me warm for a minute or two.

  2. Well it serves me right for dallying over these. Looks like I'll have to stick it all in that ING 2.75% instant account for now while I decide what the ****** to do with it!!!

    But there is no chance of me spending anymore or chucking it at a house yet. Looks like a further cloth cuttnig exercise is in order.

    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.

  3. Tell you what's going to happen. Housing is going to be included more into the figures - and when it tanks (as it will, I believe) - this will counter the real rise in inflation.

    Hell if housing had properly been accounted for we would have had hyperinflation years ago.

    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 ?

  4. Im sure they could do better than that the government could produce a pack like when you adopt a donkey in a sanctuary.

    "Gary and Sharon are currently planning a new kitchen, thankyou so much for your donation, and we thought you'd like a photo of Gary and "his" new BMW".

    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.

  5. I'm glad i picked up the 3 year one a month ago now :)

    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 ?

  6. 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.

  7. I spoke too soon. It is now over 5 working days since Birmingham Midshite say they sent me a letter confirming it had taken them 4 months to transfer my ISA. Still waiting for the postman, and we have an excellent postal service here.

    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.

  8. Birmingham Midshites:

    April transfer in has just been confirmed, today, July 7, after writing to them!

    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 ?


  9. Did you.......... I mean he ?

    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.

  10. Six are banned for mortgage fraud.

    Mortgage Fraud CAUSED all the problems we have now...... The barn door is flapping in the wind.... The horse is long dead from old age.

    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.


  11. 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.

  12. The news channels are unable to shut up about VAT, with accusations such as

    "You said you had no plans to raise it Mr Coalition"

    Well that's never happened before! Broken promises? Top Up Fees? House prices in Gordons 1997 Budget speech anybody?

    So they lied, perhaps they needed to. It's now becoming apparent that people in this country want the cuts as long as they don't have to get involved.

    To get to the point though, there's an elephant in the room.

    VAT is being made some huge issue yet we're all sitting here comfortably paying our gigantic ponzi mortgages

    Are we EVER going to get a sense of perspective in this godforsaken land?

    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 ?".

    Are we EVER going to get a sense of perspective in this godforsaken land?

    I doubt it.

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