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DaggaDagga

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Everything posted by DaggaDagga

  1. I haven't used this forum for years, but logged in today and it says I'm logged in as "ghtdf". My username is DaggaDagga. Your user accounts seem to be buggered up. PM me if you can make sense of it please.
  2. I couldn't resist... http://forums.moneysavingexpert.com/showthread.php?t=2560589&page=65 My original post was deleted, but still quoted further down the page.
  3. It's simple. The high interest rates only apply while inflation is high, whereas the debt erosion is permanent. If inflation is 20%, then you'll pay 20+% interest for a year or two. Your wage will rise by 20%. Then, when inflation and interest rates reduce, your wage doesn't. So your wage has gone up, the debt hasn't, and you only paid higher interest for a part of the repayment period.
  4. Richard Hammond STRed a few months ago, shortly after his recovery. He's trying to cause a crash.
  5. Aha - now I see the scam. The rent rises by RPI + 1%. Doesn't this break the government's own tenancy laws, assuming that RPI is >4%. In that case the investor will make a packet, and the tenant will be gradually throttled as the years progress. You might as well just let the rich drink the blood of the poor. There's nothing socialist about this, it's just pure HPC prevention.
  6. For the shard ownership schemes I've seen, you buy 50% and pay a very small rent on the other 50%. At the moment the owner of the other share is a housing association, council or a builder who's already made a fortune on the sale price. Whatever, they're not bothered about a profit from it. Even on this basis, they're not getting many to sign up to these schemes. If the remaining 50% share is owned by an investor/speculator then they would be after a bigger return, so the rent will be higher. As soon as the rent gets close to the mortgage cost then shard ownership becomes pointless - you'd be better off buying 100% of a non-inflated price. Investors would need to invest cash, not just a 10% deposit and a mortgage for the rest of it. Capital gains can not carry on at 10% YoY for ever. If the dividend doesn't make investing worthwhile then nobody will bother. All in all, low rent = no investors. High rent = no 50% buyers. Either way, I can't see this taking off. Shard was an accidentally mis-spell, but I thought it was apt enough to leave it!
  7. They're probably obliged to pay a whacking great "standard" rate for a year or three after their fix, otherwise they have big exit fees to pay. This is how most BTL fixed mortgages work - you don't get owt for nowt.
  8. Brilliant. Capitalism when it suits them, then suddenly some child-like idea of fairness when things don't look as rosy. Following her own very special rules of capitalism, shouldn't she pay you back for all the money you've paid which exceeded the monthly mortgage payment? Or is that a different matter? One-way fairness then. The 12 months thing sounds very unusual though. Is this really the case? If so then they really are stupid, for agreeing to it. It's normally two months from the rent due day (up to three months in practice). She really should be grateful to have a tenant. She'll be losing up to £5600 a month when most of the tenants clear off after getting this letter. Selling will take at least 4 months at the moment, and probably then at a loss. Repo time. What happens to your 12 month notice period when the bank repo's the place? I'd find out if I were you - you may need another flat soon!
  9. Why isn't Gordon Brown in the list? Does he just have a council house?
  10. Leasehold is a con, full-stop. This will be the next "endowment" scandal when people realise it. If the management fees don't get you then the lease renewal fees will. Budget to spend somewhere around 1% of the value per year to extend the lease for a 100 year lease. If a flat has 90 years remaining then it is worth 10% less than one with 100 years remaining. Simple really. Leasehold IS renting. You just pay the rent upfront for x years, and get a loan from the bank to pay it.
  11. Personally, I'd apply for Shared Ownership if I was a first time buyer. It's good for the individual who buys one. I'd have a bloody good read of the contract first though, and check that the price really is the stated percentage of actual (resale) market value. However, it's bad for the housing market as a whole. It pushes prices ever higher, at the expense of everyone else. It may be illogical or dodgy of the government to push these schemes, but I'd never knock anyone for using the system that's there. There's no point sacrificing your own quality of life to make an invisibly small protest against the system.
  12. If that's the case then this website is a complete waste of time. I haven't seen CO say anything particularly offensive to anyone. It seems that the term "derogatory" has a different meaning for bears and bulls. This does again raise the issue of anti-bull censorship on this site. This has been suspected before. So CO says someone is mad and gets banned. Now have a look at PropertyGuru's posts.
  13. Surely inflation can rise if the £ devalues by an equivalent amount? The £ is a too high anyway - wouldn't a fall be a good thing? So houses become affordable without falling in price and our international competitiveness is unaffected. I don't see the flaw myself. Someone please enlighten me.
  14. I suspect its value may get eroded at some point.
  15. Those figures were clearly ******, as anyone who read the other thread could easily work out. Obviously someone got their rows and columns mixed up or something - someone made a mistake. They probably muddled all the areas up - this would obviously lead to huge plus and minus figures. They took it down because someone from this site (sorry, forget who) emailed the BBC with some example figures and told them it looked a bit dodgy. They're fixing it and it will appear again soon. No conspiracy, nothing to see here. RB - do you really believe that prices were dropping 75% in a month or whatever it was? Is this therefore a conspiracy to silence the media? Why do you have to attempt to spin a non-story to become the end of the world? You continually insult everyone else's intelligence with this crap and make this website look like it's full of nutters. In reality there's just one nutter who starts a lot of threads.
  16. So would it be fairly safe to assume that we have the highest debt per head in the world? Jesus. Are these figures government or individual debt, or both?
  17. Don't forget the VAT on the HIP report. Mmmm more lovely tax for Gordy. :angry:
  18. As you don't need one if you've advertised before 1st June, this loophole has made it a bit of a joke anyway. The likes of www.hiphipaway.co.uk mean that nobody really has to get one before 2008. They should have made 1st June a hard deadline, with no exceptions. With the current mess, the only way out is to say that nobody needs to bother until 1st Jan 2008. I reckon this will be the announcement.
  19. Keep it up. This is a good thread. There's some good info between the toys that are now all over the place.
  20. I used to find PG's posts quite funny, but these days he's just got irritating, has nothing of value to say, and throws every thread off-topic with childish insults. I'd hope a moderator can consider the results of the vote. Here are his most recent three posts:
  21. The bears were wrong, and the bulls were right. This turncoat ex-bull should have made a £20k profit (after expenses, before CGT) from buying and selling a house in the last 10 months. I wouldn't do it again though.
  22. I believe that now is the last moment (or possibly even too late) if you're planning on selling. Anyone trying to sell at current prices from now on might find the buyer drops out when all the current bearish selling price data makes it into the Land Registry data. A lot of sales might be cancelled or re-negotiated at a lower price when the BBC / Daily Express etc start proclaiming the prices are in freefall. STRing would be a step too far for me though. I'm looking forward to getting a builder for the extension at recession rates, instead of the brain surgeon rates they think they deserve at the moment.
  23. Yes, I saw the light about a month ago. So are you going the whole hog and STRing then?
  24. If people have MEWed their capital gains away then they will be very reluctant to sell. Perhaps a good number of BTLers won't join in the selling frenzy when prices start to drop then, possibly slowing the downturn.
  25. Just what you need... http://www.leaders.co.uk/downloads/buy2letseminar.pdf
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