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nicko75

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About nicko75

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  1. My last sentence regarding treating earned money the same was designed to clarify that I agree with the points you are asserting?..
  2. There is something wrong with the contractor thing when every expense under the sun is put through the 'business' and the exchequer is defrauded ... I am not calling for high taxes all round - merely that 100k earned is a 100k earned and taxed the same way...
  3. I can identify with the themes in this thread. I have lived in London / South East for 15 years and worked every day since I was 21 paying tax under PAYE. I am currently surrounded by people at work who operate on contracts and pay themselves through shell companies. I know a multitude of amateur BTL landlords. I have watched the place first be dominated by the fraudulent banksters and now by an influx of crooked foreign money. Through some significant hard work and effort I recently scored a promotion which has taken my salary from 90k to 104k. I discovered yesterday that the marginal tax r
  4. Me & the wife need to buy somewhere now - i'm nearly 37 and she's pregnant. And we have both been living here (London) a while. Currently in Kingston / Surbiton as I have posted elsewhere. Have been looking for a few weeks now and the market is crazy. I have not managed 2 or 3 of my viewings because the property has been sold before my time came up. I looked at a place in Hampton the other day @ 450 which sold for 293 only 3 years ago - it will go for asking price too (ok so they have done a nice loft converstion but +157k!?). I spoke to my landlord last night over a beer (a decent guy t
  5. Money from parents is either given... (i) Now = makes mortgage cheaper than equivalent renting - house market stays flat (down in real terms) for a decade thus meaning initial deposit money is "lost" or.... (ii) via bequeath of home to children in x years time = flood of properties on the market as kids dont want them / think they can "cash in" / need to pay inheritance tax bill = price reductions in real terms due to increased supply of properties at this time. In either situation we end up in the same place in x years time - everyone agrees housing market is 20-40 % overvalued - cash bein
  6. But the market basically recognises this right?... Decent mortgage rates & lending only available for 25 - 40% deposits because the bank's long term value of property is 25 - 40% less than current prices. So the market is basically saying - if somebody is willing to bung you a 3 figure fee now (ie your parents) you can buy somewhere now - or you can wait 10-15 years when people are going to start dying thus triggering a mass sell off thus returning prices back to real terms 'normal' levels [either to pay for care or to pay IHT bills] or you inherit.... thats kinda my simple view of the mac
  7. The WFH one is a real interesting one - I am almost certain that BOTH my productivity and quality of life would be better if I worked from home 2 days a week (head down, quiet, sorting stuff efficiently) with maybe 3 days in the office - meetings, sharing context, networking etc.... but there is the crux - i would fear (in my company at least due to it's sheer size) that if I was out of the office more than in, I would become invisible and my career would suffer as a result - missing opportunities, missing context, miss building relationships etc etc. It makes you wonder what on earth "work" i
  8. I can almost feel any goodwill I may have generated on this thread, rapidly slipping away...
  9. Thanks mate - hopefully its even better than that... ie. Housing costs covered and paid by work while we are out there so no housing cost basically. I have spent some time in Houston lately - the market there is totally different - there is so much space that they just keep building out and out - whole new communities spring up out of nowhere - 5 bed massive houses, swimming pools etc for naff all - ok, you lose some of our "character" but it's safe, family friendly and a good place to spend a few years with a very young one whilst saving some good money....... I suppose if we did manage to bu
  10. That's not even half of it though is it.... and you know it... It is maddening that people who made blindly stupid financial decisions 5-10 years ago now think they are investment genius' because the government has intervened on their behalf to manipulate the interest rate (thus losing the taxpayer billions as they also own said banks) because to allow people to face the consequences of the risk they actually took on at the time would bring the country to its knees. Do it I say, the slow death is worse if you ask me... There is a strong chance of an ex pat opportunity in the States with my c
  11. See my earlier response also - I agree. It is wrong to build your "base case" on two people working permanently on high salaries. Miserable.
  12. Thanks all for feedback (including alternative property suggestions, its good to get an external view, my property searches have become a bit myopic)... ... another thing I have noticed is that both my current and previous Surbiton landlords have moved out of the property they subsequently let to me and now both live in houses on river roads themselves. (I lived a most enjoyable 4 years as a bachelor in Avante Court in Kingston inbetween!). Reckon there must be a few btl locals in those river road houses... I think the area is unique in that there is a really hotly contested square half-mile
  13. Interesting to hear you are in the same boat - you have hit on the problem - there is a lot of property about but EVERYBODY wants to live in the same quarter mile of Surbiton... We currently live on St Phillips Road in a period flat so we are "in the zone" - the thought of moving to Berrylands is depressing and Tolworth is just nasty, full stop. Have resigned myself to the fact that we will not compete for a good river road property, shoudl one come on - I am more hopeful that something on the edge of Kingston or maybe the other side of Surbiton station (not as far as Tolworth) could yet be ac
  14. Thanks for your analysis FreeTrader - can i ask a dumb question? What do we mean by repeat sales? And what is the significance of general sales..?
  15. But when push comes to shove and children are in the offering, you have to discount your wife's salary to nothing [or I do anyway - she earns about £40k] (potential illness & complications / wanting to spend time bonding with children / opportunity cost of childcare)...... so you are down to 1 salary - and happy to take your base example of £100k plus bonuses etc. To buy said £700,000 house would therefore require a deposit of £140,000 and a mortgage payment of around £3,000 a month which is laughable. I do realise that the property example I gave is one of the extremes..... but, yes, if
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