REP013

Interestingly when you build an extension your house isn't revalued for CT, this doesn't happen until the property is sold so the unsuspecting purchaser could see an unexpected increase in the CT cost the day they move in. ** New buyers (I know there are a few on here) beware **

8% of its workforce, interesting. Whilst this is a big story it's worth (or maybe not) remembering that in 2009 HP made their US staff (and those that they could) take a 10 - 15% pay cut, they also asked the others (who they couldn't force) to take a 10 - 15% pay cut too. In 2010 they gave that back. In 2013 they will ask again but in a different way, this time by making redundancies. Actually, in some ways they have done many of their employees a favour, 4 more years of paying the mortgage or accruing pension / investments. They just deferred this from then until "now".

Enough is enough says the wife, I want a house! This was November 2011. So off I trot to look at what I can borrow, who with and how much. In December we agree a mortgage with those Spanish geezers but, as there is nothing we like the look of do not proceed. February 2012, we find a house, put in an offer and get it accepted. Go back to the broker for the mortgage to be told that the Spanish have changed their view on lending having rejected 3 applications in the last 24 hours at the indemnity stage. The broker says it's getting harder every month to get loans approved and fees and rates are going up too. Perhaps its the wrong time to buy but after 6 years of waiting I can't say no any longer.

Some houses are cheap down south! 4 beds, Tilehurst, nr Reading - £134,995.00 Catch, well there are 2, it's a repo, it's concrete!

Will QE give the banks the buffer to start repo's? Currently they have no money so can't afford repo's, will QE change this? Perhaps (and this is more a hope than anything) the idea is to give the banks more money so they can realize their debts and start again. If this was the case then I'm happy for QE?

So I was just doing my regular weekly RM search and was amazed at what I have seen. The search is 4 bed houses between £200k and £400k in an area of Berkshire. 56 properties in all and according to Property Bee 21 have gone from STC to available since I last checked (last week), no new listings and 3 have dropped their price. No wonder the BoE is looking at QE, there is no money, or it's a ruse from the EA's to try and get better prices but, I doubt that? Anyone else seeing something similar?

Apparently the DOW and S&P liked the news, S&P went up 4% in 50 minutes ... the world is saved!

Not that I can find. Some countries use long term fixes, I believe it is common in the US? In the early naughties I recall one company doing 25 year deals, I recall the rates were reasonable but the buy out clause astronomical and no opportunity for early repayment.

Yorkshire do a 10 year @ 4.19 for 75% LTV, their evil daughter, Chelsea, do a 10 year @ 3.99 for 70% LTV. Santander just can't keep up! 10 Year Mortgage Rates Oh and if you want 5 year First Direct will do one for 3.49% @ 65 LTV

Front of the business page -- LINK Article -- link House prices in the North East of England fell by 8.8% in the year to July, as figures show that every region of England and Wales, except London, experienced an annual drop. Prices in London have increased by 1.3% since July 2010, according to the figures from the Land Registry. Overall, the value of flats and maisonettes dropped most sharply. The average home in England and Wales cost £163,049 in July, up by 1.3% in the month but 2.1% down on a year ago. "This is the largest monthly movement since January 2010," the Land Registry said. ------------------ So why are they reporting in this way?

I'm not sure that many actually understand the magnitude of what they were trying to deliver. This was about combining all areas of the NHS into a central system; hospitals, doctors surgeries, pharmacies etc. Each area (PCT) was up for tender and there was no overall ownership from an IT delivery perspective too. Your point about smaller projects is very apt as this is what they have been doing north of the border, a scaled version of NPFit which last time I looked was doing quite well. It was too much and has cost taxpayers a lot of money without much to show for it. And whoever made the point about contractors making good money out of this, not only them, many small companies have made a lot of money too.

I know the area well and you're right, it's not the best looking place. Unfortunately houses around there are very expensive, have a look at 2 bed houses, Ashford, Middlesex on RM and see how many are any where near £200k, it's not many. Looking at today's prices, in that area, £3 M is good, but who knows what tomorrow's prices will be? As for using the comments in the other thread to value it on yield then that is a different story. My comment was on the cost of the local properties, although you could get £10k + pa rent for a 2 bed in that area giving a hefty 5% yield (valuing at £200k).

No, this is Ashord, Middlesex. Between Staines (the home of Ali G) and Feltham (the most deprived place I've ever seen - Oasis circa 1999). I new an EA in this area until very recently who said business was booming in the RENTAL market, although houses were still selling mainly due to the closeness to Heathrow. £3.5 M for 12 properties equates to £291k each. A 2 bed around there could fetch £200k so in that context it's not a bad deal, but bearing in mind its proximity to Feltham I wouldn't be happy to live there.

12% is the rate in India - perhaps the BBC are going all cosmopolitan!

I'm seeing higher prices on RM but after a few weeks they drop to "normal" levels and then again to sellable levels. Interestingly the main houses selling are those that appear "good value". I have been watching the same property types for years and it's only since the back end of last year that only the "cheaper" properties are selling and those that are are more money, although more for your money, are remaining on the market. I live in the SE. I also know of several people being made redundant and finding it a challenge to get similar jobs on the same / better money; Lawyers, accountants etc. All I can say is the fat lady ain't singing yet! Edit, very fat fingers!

iirc the law has changed. If you spend less than 1 day a week with children you don't need a CRB. Interestingly many people who have children would "fail" a CRB check. I'm sure there's some irony there somewhere?

Neo, interesting but I need to question your statement, "average household size is around 2.3 people". How many properties are there in the UK? I often see quoted on here about 22 million. If this is true then there is one mother of a supply issue!

You mean like this?

Sorry didn't ask.

I was talking to two ladies the other day, one works part time, her husband is a teacher, the other a single mother who's SMI payments have dropped. Both are in mortgage arrears with the latter been given 3 months notice by the bank. As more people joined the conversation I was amazed by the amount people were paying for their mortgages, only 2 of 5 people were paying less than £1000 pcm. This is the SE. Rate rises, even only small ones, are going to hurt.

A friend of mine went, he said it was heaving but also said most of the jobs were "entry level" jobs. So whilst there may be jobs around for someone with 20 years of work experience and CIMA qualified there was nothing. I do worry how this will pan out!

Seen the same in the area I spent my teens. I now live in Berkshire and interestingly my wife went out for a curry last night bringing me home the doggy bag .. it was surprising that something that a year ago would have had some meat in now mainly contained tomatoes. The price was up on a year ago and the quality down. I commented that we would not be going there for a take-away and she said she wouldn't be going there for a meal again either.

I'd take a look at the Barker report. iirc, the difference there was 15% (in less than 11 years), who is right, who is wrong - especially when one is talking "facts".

Completeand utter TOSH! On a side note talking to a colleague yesterday who has a place he rents out in the NE. His first comment was that rents have gone up there around 9% in the last year according to the press so buying was the best option. So I asked him, what about the place you rent out? He said he had dropped the rent 5% this year - people are deluded!

Yes, we've never paid the asking either. Interesting also that we have always (the last 2 properties) left paying less than when we moved in. I know, amazing as landlords can easily find someone else willing to pay more!