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Frank Hovis

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Everything posted by Frank Hovis

  1. Ha ha. Let's see fatboy Salmond wriggle his unctuous way out of that one, deny them their independence and be a hypocrite or support it and go skint. Those islanders will be pretty rich if they do go it alone.
  2. (sorry) Agree with you SpectrumFX, when young(ish) people I know are trying to pick up temporary work the women go for nursery jobs and the blokes security. The vast majority of blokes can think of nothing worse than spending the day looking after twenty toddlers. There's nothing cultural in that, it's not worries about what your mates might think, just a natural aversion to doing it whereas the women see it as an ok job.
  3. http://www.thisismoney.co.uk/money/saving/article-2589263/NS-I-fixed-rate-bond-pensioners-expected-beat-current-market-deals.html Index-linked bonds were initially only available to over 65s, hence they were dubbed "granny bonds".
  4. I did respond to somebody who said that in the long run property only ever goes up; that so do baked beans, it's called inflation.
  5. University entrance was on merit rather than on parents' wealth back in the 70s and 80s, and if your parents were wealthy then you didn't get an income grant. The "handout" was free tuition because it was believed that educating your most academic children beyond the age of 18 was something in which it was worth the country investing.
  6. Mmm, looking tricky. The salary rules out staying in a Premier Inn or somesuch and the cheaper further out bits don't have 24 hour public transport as I knwo too well - a few expensive cab rides when I lived there!). Couple of thoughts: YMCA if there is one - when I started work one of the girls lived in a YMCA at Regents Park - best address by a mile! Affordable (means 80% of market rent) rented flat from a housing association - people think you need to be destitute / on the register for ages to get these but not so. Get on the register and then keep an eye on Gumtree where many are listed with a three / four day window for bids, I know lots of people with zero qualifying points get these because they're the only bidder. And get a bike. It will be hard on that money in London but you need to (re) start somewhere.
  7. The mass expansion of university education has worked in its way though hasn't it? Youth unemployment and the bill for it is massively down as people have been convinced that borrowing to support themselves between the ages of 18-21 is the thing to do. They have also been convinced to borrow to fund a mass expansion of academic jobs and administrator salaries. Why do you need to bring back national service to deal with unemployed youth when they will boorow to pay their own beenfit and employ lots of lecturers. Economically it's a winner. The losers are the students: Those who were bright enough to go before now find themselves with a £60k debt at graduation rather than a £1k overdraft. Those who weren't bright enough to go before find themsleves with a degree that makes them no more employable than they were at 18 plus they have a £60k debt Still, as since Blair took office and ably continued by Cameron / Osborne making life increasingly hard and debt-ridden for young adults seems to be standard government policy.
  8. Ooh ooh! Could I have correctly called the top? That's the first time I've called it and did so because whilst other house listings have made me think "over-priced" that was the first one that actually made me laugh. A house that I wouldn't want to live in for enough money to give anybody an immediate retirement. Have the plebs sordida finally smelt their collective £3.50 lattes and woken up?
  9. Well yes, but I question the "soon". It won't be this year and will only start next IMO. I thought I was buying 2015 but that's now gone back to 2016. I need to call it ahead as I've got lots of three year / five year stuff so I have to start taking some of that as it matures rather than rolling it.
  10. I detect a teensy weensy problem with that plan, no nothing to do with Max Clifford but: Lurch himself:
  11. Do what? There isn't that sort of personal cash laying around, and everybody I know with a house has a mortgage on it. And it's notjust trackers, SVRs will clearly move as well. The difference certainly is made: - to buyers no more easily-affordable mortgages on offer, renting is much cheaper, etc. - to mortgage payers - I only knwo a minority who have been paying down, most have been seeing it as free money. Suddenly the house becomes a major cost, forget any thought of upsizing, consider downsizing It will make a vast difference.
  12. Nuke 'em! (I jest) Long-term heavy sanctions until, like Afghanistan but for different reasons, the pain becomes not worth the prize and a change of regieme says "enough".
  13. Interest rises are inevitable. The question is how soon and how much. I would be surprised if there is not a US rate rise within 2015 which means the BoE will follow as it has no choice. The historical pattern is that once interest rate rises start then they rise quicker and steeper then people expect because their purpose, to choke off inflation bubbles, doesn't work when footling around with quarter percent blips. These will then drop back down to a "normal" level (anywhere from 3% - 6% depending who you believe) but a rapid "spike" is highly likely. IMO the US will delay their rise as much as they can, so November 2015 is my guess. If you're looking at buying a house (as I am) the spike will be unmistakable and then you can start assembling your funds or deposit, but the bottom will last for years and there will be some price stickiness at first so give it at least six months post-spike before seriously looking, ignore the "don't miss the boat" rhetoric of the VIs, that boat will be beached for at least a couple of years.
  14. I used it, I thought it was pretty good and actually got my current job through it.
  15. This came up with timeshares. You draw up a proper legal contract and sell it to a tramp, give him £20 for his trouble and then it's legally his and they have no recourse to you.
  16. A major proportion of council income has always come from central government, that has been severely cut by Pickles so cuts and council tax increases are needed to replace it. It's ironic that EP applied that 2% barrier when he is the direct cause of councils needing to raise more revenue.
  17. It will be their cost in the event of voids, which will be a further drive to get places rented out quickly so providing downward pressure on rents. So it will have an effect on landlords. And it will have an effect on their property prices because it will be downward pressure on all property prices and there is nothing magical about the price of rented properties. I do wonder about the fatalism of some people on here
  18. http://www.dailymail.co.uk/news/article-2581929/Mansion-tax-trigger-huge-crash-property-prices-Owners-lobby-group-claim-economically-illiterate-levy-just-politics-envy.html
  19. I agree, it's a property tax. Everybody on here applauded (quite rightly) the removal of the discount for second home owners despite their unquestionably using a fraction of the services of a permanent resident. So as we all think that the property is over-valued then an increase in the tax upon it to make it a less attractive asset to hold would be a good idea. The way that central government (Pickles) has massively cut its support to councils has yet to really show up in council tax rises as they've been able to make cuts (I would say cutting the fat, but that's not what they've been doing - cutting public toilets, sports centres, libraries is more the mark - things people actually want) but those easy cuts are stopping and the central government payment is still reducing. This means several years of sustained above-inflation council tax increases. IMO this will be enough to tip us back to where we last were in the mid 90s - houses are seen as a cash-draining liability. And the prices will plummet.
  20. I have promised myself a petrol V8 or at the very least a V6 should I get my annual mileage sub 10k
  21. That works if you are determinedly shopping for the absolute cheapest without overmuch concern for quality. I find the Tesco budget stuff poor, you may pay slightly more for the same at Aldi / Lidl (way less than branded stuff) but it is much better. I can buy a cheap loaf at Lidl for about 60p, which is ok, or pay a £1 and get a really nice one. It's a shop in which you very much get what you pay for. Aldi won loads of top quality awards last Christmas and Lidl picked up a few.
  22. The picture really says it all. The detail is more involved and technical and there if you want it. US rate rises to come earlier than expected? http://www.zerohedge.com/news/2014-03-14/it-begins-past-week-foreigners-sell-record-amount-over-100-billion-treasurys-held-fe
  23. As has been mentioned before diesels are there for high mileages. With a diesel I save about £1,700 a year in fuel compared to my previous reasonably efficient petrol car. That pays for a hell of a lot of maintenance. If I was doing about 10k miles per year I'd go back to a petrol, I prefer the engine response.
  24. When you've paid £21k for something that you could have got for free then "worthless" is a pretty apt description. A friend bought a small field because he, well, just fancied owning a small field. There wasn't any purpose intended for the land or speculative gain, he just fancied having it, colouring in that section of the old tithe map that it was shown on, and walking around it occasionally with friends having said "come and see my field". He never did anything with it or intended to. It seemed a reasoanable purchase to me in that it was unlikely to lose much value so if he got stuck at some point then he could sell it. It's easy to spend another £21k on a car so for a vanity purchase this was slightly more sensible.
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