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space monkey

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  1. My friend at work has several 'property investments' in the UK and Spain. These include a plot of land ( in Spain ) on which he was planning ( in 2006 ) to buid 4 villas, to later sell 3 .. to live in the remaining one while banking his 'new pension'. Well, it all went horribly wrong. The Banks wouldn't lead the cash required to build the villas.... hardly supprising when one of the other 'investments' - an appartment on a golf course was recently valued at 60,000 Euros. He had paid 213,000 for this 'exceptional investment oppotunity' in 2005.
  2. can someone sort out a link later ?
  3. On BBC Radio 4 Money Box now...
  4. I don't think utility bills + and Council Tax would explain the large debts. Surely the average for these is more like 3 - 4 k p.a., not 30k p.a. Sensible people live within their means, with perhaps an occasional dip into the red e.g. Christmas excesses paid for on plastic, repaid over a few months. But to accumulate tens of thousands of pounds on credit cards and personal loans is ( imo ) irresponsible.
  5. There sure is.... I just listened to BBC R4 Money Box Live, the first caller, Aged 55, Mortgage £250K ( £100k of it interest only) AND £37K of credit card debt.... worth a listen. What have these people spent all this cash on ? http://www.bbc.co.uk/iplayer/episode/b00qpq1s/Money_Box_Live_17_02_2010/
  6. I noticed something similar in a local pub last weekend... I don't often go there, especially on a Saturday night when all pubs near me are usually very busy. I was shocked that the place was so empty. Only 5 customers ( including me and my son). Is everyone skint ?
  7. Those were the prices in 1989 / 90 , I bought in Nov 1990 due to an expanding family... shortly followed by a price crash of about 20% in the early 90's. What my father said .. I don't know, I didn't listen ( an old joke ... not my original .. but so appropriate .. who does listen ? )
  8. Not near me (SE London / Kent border).... 20 years ago, a 2 bed flat was typically 45-55K, a 3 bed semi approx 85-90K and I recall 10 years prior to that 2 bed flats were 20 -25k, 3 Bed houses 30-40k
  9. Please note that my expertise is in Engineering, not Finance ! From the discussions we had, my understanding is that anyone over 50 who has a personal pension can withdraw up to 25% of their 'pension pot' now ( but not their state pension ). I dont know if the same thing applies to an occupational pension. I assume that it might, after all it's simply deferred salary. After April 2010 the age threshold is raised to 55. In fact the FA we spoke to was actively contacting clients aged 50 - 54 advising them that they may wish to consider extracting their cash, and to act now to beat the deadline. The remaining '75%' of their pension pot is then reinvested in a financial insturment of some kind which will later ( on retirement ) be turned into cash to buy an anuity. I recall there was an item in a BBC Radio 4 Money Box programme on the subject last year. It was that article which first prompted my friend's interest into the possibility of reducing her mortgage to something less scarey.
  10. I accompanied a friend on a visit to her Financial Advisor this week. The purpose was to review her personal pension, and discus the possibility of withdrawing some of her pension to clear her mortgage before the April deadline for under 55's. What suprised me was that this FA commented that many of his clients aged 50+ were raiding their pension in this way because they had difficulty raising cash elsewhere. I presume they too were looking to clear debts/ mortgages.
  11. Perhaps, one day, the geeks will inherit the Earth ? ... once we are rid of the bean counters and snake oil salesmen.
  12. Not that I spend all day listening to this guy's conversations... but some times you can't help it .... he was chatting to 'another financial guru', I heard mention that it's on the market. I guess he has seen the light, that the market only going one way ..down for the forseeable ( is that a real word ?) future. Maybe he's not a dumb as I first thought... actually he is ... "my BTL is my pension" was often murmurred ( is that a real word too ?) [ apologies for poor spelling ... is 1960's comprehensive education to blame ? or was I just thick ... ? ]
  13. Yet another " Landlord" who sits near me ... on the phone this afternoon to the agent managing his BTL ( dont know where or what it is, it may be a 2bed terrace ' up north' ) : " ...so there are lots of new builds near by .....what are they .. flats or houses ....oh ... ok reduce it to 575 if you must ... they move out on the 20th ? ..ok i'll come and have a look at the weekend..." Sounds like a void month comming, and reduction in the rental . Poor sod, doomed to loose ************************* Found out today it's in IPSWICH
  14. Rent 775 Council Tax 143 gas 75 Elec 55 water 24 phone /inet 30 mobile 25 Sky 39 Rail travel 60 food 400 beer 100 petrol 35 insur( home ) 15 insur( car ) 40 ==== month 1816 or week 454 day 64.85 conclusion : head 'just' above water ...actually that's not water... it's rather dark... brown in fact
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