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House Price Crash Forum

neil324

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Everything posted by neil324

  1. Oil down nearly 4%, commodity currencies falling hard.
  2. Was'nt Libor 2007/2008 around 6%. With SVR not much higher.
  3. No meaningful cuts this year, interest rates to be kept low regardless of inflation taking hold, looks like stagnation in the housing market untill something changes then.
  4. Well of course thats your choice, but it's not un-reasonable if an EA to request it as he is acting on behalf of the seller. How do you know that the seller is not a dodgy scammer? Your willing to show it to them, i suggest if your that worried to only trust the solicitor, even then your not 100% sure, i even know dodgy solicitor's. A glance at a printed bank statement is hardly sensitive information.
  5. I feel sorry for his dad most likely grafted and saved all his life, about to take a 50k haircut.
  6. They only want to see you have the funds to proceed as a 'cash' purchase. So your not wasting anyone's time. You don't give them anything you show them. edit to add When i purchased the house cash, it was sealed bids, they don't always take the highest offer, a position to proceed without hinderence is taken into account, so before rejecting the other offers the EA covers his back and ask's to see proof of funds. Which is good business practice on his behalf. I would think it's standard practice on any cash purchase before removing a house from the market.
  7. Should be correct although we have trashed our currency, so as long as it does'nt get trashed anymore when the current fall filters through inflation should start to fall, i guess thats what the BOE are pinning their hopes on, time will tell.
  8. Does'nt sound right to me. Regulation as you say is the main thing, why do you need to 'prove' to someone where the money is from, if the money in question has already been subject to money laundering rules and is sitting in a UK bank account. If you wanted to pay your solictor with cash from a plastic bag then yes he needs to see proof. Not sure of the amount, but paying money into a bank account a certain amount would trigger the need for proof of origin to be shown. Once money is in a bank account it is 'clean' and has passed regulations. The only way bank accounts can come into question is by police investigations for criminal activities not by some over zealous jobsworth conveyance solicitor.
  9. Purchased a house in 2005 cash. EA was happy with print outs, the solicitor never asked any questions, the money was BACS transfered to their account.
  10. Seen the fall in oil, was 7% at one point Should help the BOE inflation predictions.
  11. What happened 1pm US time, 100 pips jump in the Euro, looks like intervention to me. Any news out around then to make it jump.
  12. Its all very well having these great ideas, the fact of the matter is we are deep trouble and need to raise money, so some difficult choices have to be made.
  13. hmmm, the Viet Con were conscript's fighting the might of the American war machine.
  14. Your right it was politics, they did'nt think we would fight and took a gamble. But to say they fought very well is bit like saying the British done well defending Singapore.
  15. Flight to safety by the looks, most things getting slammed today again. Nothing to do with the inflation fiqures.
  16. When's the vat rise planned to start, as soon as its announced or next year. This will blow the BOE expectations of it starting to fall back. Be interesting to see if Tories take a different view on it now in power, but doubt it very much.
  17. I used to want house prices to fall, now i'm more concerned about what my savings will be worth next year when the cuts start taking effect and house prices start falling. If there is a bounce it won't be much i feel.
  18. Well it looks like things are about to hit the fan, default is the last options, after inflation,loads more QE,tax everything to death,currency destruction. I found this site through a believe about high house prices. That is now fading into the background behind a fear of what my life saving are going to be worth in 1-2 years.
  19. Well its worth a try, nothing to lose so to speak and when we have PMQ's, Cameron can tell whoever to go f*ck themselves with all the sniping questions.
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