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Fairies Wear Boots

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Everything posted by Fairies Wear Boots

  1. Leave off Sarah Beany. Sarah Beany has said that house prices are stupidly high and it's the governments fault for letting it happen. In her program, when someone takes 8months to do up a property, and then makes 50 grand on it, she points out they would have made 45 grand just from doing nothing in the current climate. Though, she never advocates buying it just because 'prices always go up'. She's got a lovely rack too.
  2. This means extra supply will get blamed on HIPS and not the interest rate rises, although we've seen supply starting to surge beforehand anyway. A glut of properties on the market will be nice .
  3. And Kirsty and Phil. Also ask her if she'd like some tomato sauce to go on her hat!
  4. Not a business? Just because they don't start a company? I'd say they are. They charge for a service, have income and expenses. If you buy shares, nobody rings you up at night and says the bathroom is flooded, you need to get in a plumber. BTLer's should pay tax on the profit they make after expenses have been deducted and interest is an expense. They should also pay Capital Gains on anything they sell for more than they bought it for. As we have more people coming in to this country , than seem to be leaving, the government should build more houses! But as for taxing revenue on rental property before expenses are deducted is crazy. I might have to reread this thread. What exactly are people suggesting the government do?
  5. No one wants to celebrate the first MOM national fall? How dull
  6. I want a HPC. I also find BTLers who SUBSIDISE tenants annoying w*nkers. And will love it, if IR's keep on rising and they loose out. However, it sounds PERFECTLY REASONABLE the way they are taxed at present. The only reason why BTL is still going on is because of it being used as a pyramid scheme. It's not profitable, except for Capital gains, which are (was) huge as HPI has been running so high. So hopefully, the idiots buying now will be caught high and dry. As discussed on here over and over, at some stage, the next line on the pyramid won't be able to be filled. Then again, it annoys me that they seem to have made the market peak so much, that I have to wait to buy one at a fair price. Maybe we should bring back flogging.
  7. Living in London, saying the house price crash has already started, is a nonsense. If, while riding in a car we come to the crest of a hill, I wouldn't say we were going 'down'. I'm waiting for he announcement of MOM national falls. But even if sentiment now turns and house price inflation lessens then goes negative, I don't know why you'd 'back date it to Q1 2007'. However, please yourself. I'm still waiting for the fat lady to sing. Though it's rather nice to hear anecdotals (real life ones too!) from London people who have said there Estate agent said it was 'a buyers market'. Talking about the first MOM national fall, I suggest we have a party! Being London centric, a pub in the Capital would be good. Has this ever been done before, people meeting up ? Geek suggestion of the year but we could all print out our Avatar and slap it on a badge and wear it. I've always wondered whether Property Guru (when he had his Hulk Hogan Avatar) was really five foot six, weedy with glasses or not.
  8. Well if they're going back up to 7 percent or even higher, we'll have our crash, and I'll be sorted. Lubbly jubbly, put kettle on.
  9. I have a question about the inflation rate. I was hoping for an interest rate hike today as much as anybody. I saw an article saying it wasn't needed. Rubbish I thought, but then I read it. Inflation at 3.1, letter sent, then to 2.8 then it went to 2.5, which I was rather dissapointed with. They went and hiked again. Hurrah. But really, why? And also some people on here going on about their predictions about inflation. Ok, I can understand them knowing about oil going back up and stuff, but why do some people think they'll put up IR's and yet inflation will still hover above 2.5 percent and we'll need more rises? Could inflation now come under 2% and in six months time they'll drop the rate back to 5.5? Or have I not been watching for long enough? Could inflation be 2.7 this month? Answers appreciated.
  10. That's quite an interesting theory. But that assumes you are going to be paying 8 % over the whole of the mortgage. Not the normal five year fix. There are 25 year loans out there, you aren't suggesting people take one out are you? You're also assuming that people only have a small deposit. If interest rates hit 8% that's like got to be crash territory doesn't it?
  11. Do you seriously think you can get anywhere near 3,000 £ a month for an apartment in Park Royal? I used to live in Nw10. Willesden to be precise. It was cheap because it wasn't that nice. Park royal looked even worse. Of course if you're willing to subsidise your tenant for capital gains and make use of leverage by borrowing the money, you'll be quids in! (Unless the market stagnates or er, falls).
  12. Did you read this post ? <quote> I was speaking to the ex chair of the bank of England this morning(he is my neighbour) and infortunetly he agree's with Nick, things aren't looking great. </end quote>
  13. I don't think that's allowed. It's like if you were a car sales man and you buy a car which costs 15K and retails at 30K. You aren't allowed to sell it to yourself for 10 pounds and your business make a 14990 loss on the deal. Your property company renting a house to yourself at less than market value, would be considered something like drawings.
  14. Woohoo ! Look at the size of that Garden. First thing I'd do is put in a tennis court and then smoke a bong!
  15. Well that's what everyone APART from me thinks, (in my 'real life', not on HPC). Sorry, it's hard to indicate sarcasm in text. Maybe I should have used some of these. I've heard things like 'House prices are absolutely CRAZY ! They just keep on going up and up.' And then when I point out correct, they've gone up so much so they are totally overvalued, so a correction isn't that improbable... I get ' oh no, house prices won't get cheaper, just look at how incredibly fast they are rising'. So because house prices are inflating at a surprising rate at present, this points to them not going to fall at all.
  16. I believe the correct answer is... "But Ethel, if you don't buy it, in 25 years time you'll still be paying rent! And don't give us all that maths rubbish about if you don't buy you could put a grand in the bank each month instead. Houses are going up more than that every month and will continue to do so. "
  17. People on here go 'the government won't introduce taxes to BTL'. Yet Gordon Brown ... (yes I too hate him for the the 'no boom and bust' and the 1997 I won't let house prices get away from ordinary young people (or whatever the quote was)) .... has said that house prices for the young are too high and he's going to build five eco villages or whatever to sort this mess out. OK, I'm with you lot for thinking 'YEAH Right'. But isn't this as disasterous as saying I'm going to introduce BTL taxes? If I had BTL at present and Brown was going, I'm going to build for England and it's all going to be social housing, i.e. no BTL getting their hands on it, I'm going to sort supply out. Then surely this as bad for BTL as taxing BTL? A decent amount of supply (to people who want houses(not speculators))aimed at bringing down house prices down does just that (sorry I'm laughing too ).
  18. Yes. I was more talking about they seem good if they are actually what they are described to be. But they aren't. If they were a fixed rate loan (at a competitive rate) PLUS whatever you have in your current account reduced the amount of loan you pay interest on, that would be great. Unfortunately all the offsets I've seen, don't give as much interest as a fixed. So even if you have a big current account, you're still paying more.
  19. Sorry, but is this for real? I'm not calling you a liar, but I'm quite gobsmacked that someone would strong arm some to come down 25K, AND then when it back fired, COMPLAIN about it. That is just unreal. What an idiot.
  20. I think offset mortgages would be good, apart from the fact that they don't seem as cheap as fixed rate. If you could get an offset that charged you the same as fixed rate, plus let you offset, you'd be laughing. Letting your current account reduce the amount you have to pay interest is great. Better than getting less interest on your savings than you're paying on your loan, and also paying tax on your interest.
  21. From post number 6 The house is on the south coast right on the Hampshire/Dorset border. 5 minutes drive from the beach.
  22. With all that debt, they were looking over exposed.
  23. They're the people who make sure you're fitted up with a suitable loan. I think it this case it'll be self-cert.
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