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Marcos Scriven

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About Marcos Scriven

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  1. Crikey - sometimes I think I must be their only profitable mortgage customer. Paid off an extra 20% of my NR mortgage past couple of years. Gutted I'm stuck with them fixed at 5.7% until 2012, with a massive 20k ERC. All the more galling with such good offers around at the moment. Still, should count myself lucky to have been able to overpay I guess.
  2. Crikey - trust you lot to take a negative spin on people actually trying to pay off their mortgages!
  3. You're welcome. I assume you are infering 'richness' from the value of mortgage I could get? I certainly don't feel 'rich' I can tell you! I am lucky enough to have a good income at the moment, but that could change, literally, any second. Illness, accidents, not to mention deepening recession. I have no savings, just a mortgage I'm overpaying with every spare penny. Not sure you could describe *anyone* with a mortgage as rich! Fortunately I'm now in a stable LTR, which make me feel a little more financially secure, but I really wouldn't describe myself as rich. One day maybe
  4. Hi there In answer to a couple of questions raised: 1) I have to pay CGT on 25% of the notional 'profit' (I lived there three years, rented five = total of eight years. Of the five years renting you get three years' grace if it was your main residence before, so that's 2/8 years I have to pay tax) 2) Sale was not forced - rental more than covered interest, never missed a payment. However, I would like to buy a small house with my partner in a couple of years' time, and I didn't want the prospect of a BTL that could easily move into negative equity to mean this was impossible. Also, I want to maximise payments to my residential mortgage, which although I've managed to get just under £400k, still has, I'd say, *at least* another £100k to get to a level that would still give me enough equity to remortgage once the market hits the bottom.
  5. Oh I give up. Could an admin please delete this post and close my account? Will leave you to it.
  6. Not sure how me telling you how many tens of thousands of pounds I've lost could in any way be considered boastful? Or how stupid I was to buy at the peak of the market? Surely this kind of actual experience is partly what this site is about, no? Genuinely posting my experiences to the forum - responses like this won't really encourage others...
  7. Well, more 'Keep' To Let than Buy To Let, as I lived there for three years, and rented it out the past five. Sigh of relief - I've seen the recent stories of a suposed 'recovery' lately, but I think there's quite a way to go. Think I've been very lucky indeed getting out of it. Only reason I kept it until now is I remortgaged it to help buy a new flat back in mid '07 (how dumb do I feel now). That locked me into a two year deal with a 20k ERC. But since Mortgage Express (Bradford & Bingley) went bust, they offered to waive the ERC between Feb and June. This tied in nicely with the end of the current tenancy. Even more stupidly, I did consider selling it at the time I bought my new flat, and was even offered £350k. It exchanged yesterday for £312,500. It was on the market for 6 weeks, but got VERY lucky when the agent found a Euro cash buyer - little London pad for one of their kids for uni I think. I think 11% off peak is fortunate - I only had two other offers from 20 or so viewings, both at £290. I bought for £190,000 back in 2001, so I can't complain too much. Shame that all that 'profit', and more, has effectively been swallowed up by the drop in my new flat. I reckon it's 'worth' around £470k at the moment, down from £535k, based on recent sales (there's a lot of readily comparable maisonettes on the same street). I would expect it to bottom out around the £350k mark. Anyway - a little bit of anecdotal material for you. Marcos
  8. Without wanting to sound too 'fuddy duddy', your profile pic makes this forum unsuitable to read during my lunch break at work! Is it possible to enforce slightly less racy profile pics please? Or, at the very least, no animated booby waving!!
  9. You say that though, but in doing so seem to ignore the fact it wasn't just a massive swing, but the BIGGEST swing so far in the past year by a large margin.
  10. Please read what I posted before you have a go at me. I said PRICE NOTWITHSTANDING I also started the entire thread by stating I thought it was a ridiculous price! I think you're the one on crack
  11. Erm, sorry but you're wrong there. Gold very quickly plummeted to $980's. Standing at 981.7 now, and has not recovered. http://www.chron.com/disp/story.mpl/ap/business/5630096.html
  12. To be fair, the price notwithstanding, if you are buying a flat, it is nice to have your own front door. It avoids communal mess, and is also indicative, as in this case, of it being purpose built (and hence not a strangely proportioned conversion)
  13. It's 3 bed, but one of the rooms is only 2m x 3.5m. I reckon you could get around 1700-1800 pm, so quite a way short of the required mortgage!
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