madasafrog

Oh come on. Even some of the bears must admit its quite funny. No?

Now you have made me go and we myself

Dont tell me....... your the one on the left?

Yes.

The big downer is if you decide to move during the fixed period you do get hit with a redemption fee which can negate any savings you may have made by fixing the rate. I am in that situation at the moment. We are thinking of moving house and if we moved now, we would be hit by a 2% penalty. We are now taking our time a bit so that by the time we do look to move, the fixed rate will have finished. Plus the market conditions will hopefully become a bit clearer.

It may be the case now. I had a look at the fixed rates out there and due to arrangement fees, they are no longer such a good deal. I am on a fixed at present and based on todays figures I will move to tracker when it finishes. It will then give the flexibility to grab a good fixed rate if the BoE panics and drops IR.

I remember reading on an article in last couple of days that if the debts were sold off they would be at a fire sale rate of 95% (5% off full value). This also mean that with a total book debt of £130billion, that £6.5billion would be written off. As their assets are aprox £2.6billion (i think), they are essentially insolvent.

Not sure if this was posted earlier: Source: Telegraph

"No Chain" = BTL LL bricked it "Off Plan" = Suckers Needed "Investment Opportunity" = The Professional investors aren't interested so rope in the amateurs "Guide Price" = Chancing my arm "New instruction" = The other five agents in town couldn't shift this lemon so I will try this charlie "Excellent Potential" = Only buy if your a builder "Riverside view" = Floods so cant get mortgage or insurance "Close to motorway links" = Within 50 yards of M6 As many as i can think of at moment

I hear similar stories from my parents and other members of the older generation. Its all guess work for them as they have nothing concrete to base their theories on. Meanwhile, the average Joe has to believe everything these brokes/salemen tell us. BTW, wow. I wont ask you your age. Is your national insurance number "1" ?

It was a good idea but I am not seeing many buying signals

When you see so much evidence in how poor pension options are, you can understand why people have piled into BTL. A point that people have not even touched on is the possibility that the pension they are paying into may not even be there at the time when you come to claim it. So many company pension funds have collapsed. People have seen the pension they have paid into for 40 years, just disappear in front of their eyes. I work in the engineering/manufacturing sector and have seen it first hand. BTL is inherent with risks. Investing in a private pension is inherent with risks. Where else does the average person put their money with the intention of being prudent and providing for their future? I am not a BTL LL, but I am sure anyone can understand the logic behind it. The average or amateur BTL LL is not looking for a quick buck. They are looking for a return on asset growth on a very long term basis. They are looking for an investment to provide for them in their old age. They are looking for a pension that they feel they can rely on. Gordon Brown has ganged raped pension funds through taxation and has reduced pension funds to 50% of expected value over the last ten years, company pension funds are flaky and at great risk of not existing at time of maturity, general pension benefits are being slashed left right and centre. The pension crisis is something we are all aware of. To a lot of people on this site, BTL LLs are classed as scum. When you consider their options for future pension provisions, can you really blame them for investing in property?

This is just bear baiting.

Did anyone realistically expect to see any dramatic figures on this report? If the news of NR and credit crunch is going to have any impact on the housing market, it will take a lot longer than a few weeks to show up on reports such the LR figs. If there is to be a fall in house prices, I doubt you will see any clear evidence until the early part of the new year

I was on holiday in borovets and the mafia were there in the bar snorting coke. They had the hotel bar locked up and then sat there having a good snort. Plus the hotel was full of prostitutes. To be fair, this was about 12 years ago but was certainly an eye opener

There will be more costas and starbucks in the north when they move into the empty northern rock branches

Should have the EA office as a pub. At least you can have a few large scotchs before you see the house prices

Nice. I like it

Come off it. I bet he made you wetter than an otters pocket

If this is correct, then isn't the US sub prime scare a bit of an over reaction?

So much for free speech. Any hecklers are quickly dispatched.

The BoE would have known that no one would have taken their offer when the market is offering at a much lower rate. Their much publicised offer of £10b available but not taken up may be just a spin exercise. They knew that no one would take up the offer unless they were in dire need and if a bank was in dire need, the FSA and B0E would have been aware of this prior to the auction of this money. It comes out as good spin for the BoE to now turn round and say that "no one needs the cash and the markets are returning to normal'. Time will tell

2 more points then: 1. How could she be so naive as to the value of the flats if its in area she lives? 2. How TF did she get the finance on them in the first place? Do the people who put together these deals have professional indemnity insurance? I guess not as the people they scam are too broke to bring any legal challenge against them. It all boils down the the old saying of "a fool and their money are easily....." What a scam. This should be publicised more to bring to the attention of the average person of how easy it to lose your shirt on property. Dont believe everything on daytime TV programs. People clearly dont realise what they are gambling. Its not a bet on the deposit you put down, its total spread betting and you could lose everything. A good many have fell lucky due to HPI but the coming few years may bring quite a few casualties in the BTL market

Wow. She was scammed good and proper and even paid £6k for the privilege. Things that are of note to me: 1. Does the value of the flats seems realistic for glasgow? Seems very steep (i am from west midlands so its cheaper round here but for a reason) 2. All new development flats. The Semtex of the property investor 3. The mortgage company. How does that affect your AAA rated debt you sold on?