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House Price Crash Forum


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About kempstar

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  1. I wonder how much places like that would rent out for. Anyone know?
  2. Where is SW19? Is that Wimbledon? I live in Balham, and the prices round here (Balham, Tooting, Earlsfield) etc simply defy belief. A nice two bedroom flat around here is going to cost you £300-400k. Its not even a particularly nice part of London!
  3. Hi Can anyone provide me with a link to thread discussing the halifax report that showed lots of regions already falling in price? Even though the headline figure was positive? Thanks in advance
  4. He hinted to the markets that the current trend of increasing US interest rates may be coming to an end soon. Afterwards he tried to placate the markets by claiming that the press had misinterpreted his comments, but to no avail.
  5. Thanks very much for your help. Maybe if I explain the situation a bit more clearly that may help. There are going to be two of us starting up this company. One of us is very, very wealthy. The other one is me There is not a problem in terms of raising the capital to start the business. The issue is one of ownership. I want to try and put as much capital as I possibly can into this, so I own a decent chunk of the business. I dont want to end up only putting a tiny amount of the capital in and then owning only a tiny amount of the company (I might as well stay in my current job). We are looking at starting trading in September. From the figures we have put together so far, I think we have a working capital requirement of £150-200k for the first three years. we have projected that monthly cashflow will turn positive in around 6-8 months, and the breakeven point for the business will be some time in early 2008. Realistically, the absolute maximum I am going to be able to raise personally is going to be £40k: £10k savings, £5k from parents and £25k personal loan. Ill look into that grant you mentioned for young entrepreneurs, I am under 30 (just) Thanks again
  6. Wow, thanks for your 'help' I know exactly how I am going to make a return from the venture. I am now looking at how I am going to fund it. Hence asking questions about sources of finance. My main issue was whether I should pay off the credit cards first before seeking a loan, so that it does not look like I am in debt (which I am not). But it seems that banks are more likely to lend money to those already in debt, rather than those who are not. Hence my question.
  7. Hi there Im looking at starting my own business, and am looking at sources of funding. Hopefully there will be a few people here that have done the same. I have a few questions.... 1) I have £25k in my bank account stoozed from three credit cards: Egg (£10k till 1st June), Cooperative Bank (£10k till 1st November) and MBNA (£5k till mid-November). I am hoping that this will mean that I should be able to secure personal loan(s) up to this value (if necessary by approaching each of the lenders seperately). Do you think it would be best to apply for a loan, stating it to be for the purposes of debt consolidation, or pay off all of the credit cards before applying for a loan(s)?? 2) Does anyone know of any grants/preferential terms loans that may be available from the government or other? Many thanks in advance
  8. Could someone please explain why it is so significant to Gold what the BOJ are doing? Thanks
  9. I read moneyweek to get a round-up of the weeks financial press and a relatively non-biased commentary. I find it a brilliant read, its very 'bite-size' and easy to read. They have a free three week trial too which is great
  10. Im really not sure whether I should be investing in shares... yet. This past year I have spent repaying my rather substantial student debts. I am now in the position where when I get paid, after paying all fixed bills (rent, bills etc) I will have quite a bit of spare money left over each month. My question is- Should I be investing in shares, whether directly or indirectly? It seems that common investment strategy suggests that one should seek to build up a cash fund first. I would appreciate suggestions as to how I should allocate the money I save each month A few things about me- 27 years old £38k salary (This works out around £2200 net once my pension contribution has been deducted) Salary will go up quite sharply in around two years time, when I finish exams I am taking (~£55k) Fixed outgoings of £500 per month (rent, phone, council tax, electricity and so on) I am in no rush to buy property; I would prefer to pick something up with a derisory offer in 2-3 years than rush to get on the ladder Although I will reign in my spending, I do enjoy life, and do not want to have to make too many sacrifices. I think saving £700-£1000 per month is realistic for me No debts No savings Any advice would be greatly appreciated
  11. My pensions strategy is not really that well thought out. I pay in £100 per month to a Virgin Money stakeholder. My reasoning was that I can get 40% tax relief straight away, so the fund would really have to collapse to be worth less than what I put in. I always thought that it was a no-brainer to invest at least some money in a pension, because of the 40% tax relief. That said, having read this thread, I dont know whether to increase or decrease my provisions! I am 27 years old, earn £40k, have only a couple of grand of debt (this will be paid off by the end of the year). I have no savings as I have been paying off student debt for my entire working life (only 2 years as I done some travelling and further study after uni). My employer doesnt contribute to a pension scheme until im 30, at which point I get 6% from them. I also have £3k in a fixed benefits pension scheme from my previous job, apparently the transfer value is something like £850. Does anyone have any advice for me? Should I transfer the fixed benefits one into the stakeholder so its all in the same pot? Would it be better for me to transfer the stakeholder to a SIPP? I would feel comfortable doing my own investing- In fact it would probably be quite good fun
  12. Age: 27 Salary: £37k Savings: £0 I left University at 23 with crippling debts. I was seriously ill for a couple of years so was unable to work. Have been working now for just over two years, and will have paid off almost all my debts by the end of this year From Jan next year, I am going to try and save £1k per month for two years, hopefully giving me a ~20% deposit on my first place (probably SE London).
  13. Where abouts in Kensington and Chelsea is Wapping?
  14. Can anyone provide a link to that article which explained how the burden of debt is now far higher than it was in the last crash? I am having a debate with someone on another forum. I posted the house prices to average earnings chart and showed how this ratio demonstrated we were in for a fall. He replied that people can still service the debt because interest rates are lower now than they were then. Please help
  15. I always get confused when talking about exchange rates between foreign currencies Why IS the Yuan pegged to the dollar? Why do the US want them to unpeg it? Why has China not done so until now? Someone mentioned in another post that it would be good for us if $1 = £1 and £1 = 1e. I think they were being sarcastic though. Would this be good for us if we were an exporter (everyone would want to buy our cheap goods) but very bad if we import more than we export (is this whats called a trade deficit)?????
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