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Everything posted by dryrot

  1. Hi, Full-page advert from http://www.catalysthomebuy.org.uk in the local giveaway paper: Apartments from just £40k in Chatham Place, Reading, apparently a new "vibrant" development in Berkshire's loveliest jewel. But the small print says you buy 25%, and rent the other 75%. I suppose this financial trickery means they can still value the flats at £160k on the balance sheet... I would counsel caution on this one! If you wont pay £160k for the full 100%, dont pay 40k for 25%. And Reading is not - how can I put it - starved of new flats... Apparently Catalyst is part of the governments new scheme to stop the dam bursting/prop up prices. It sounds very iffy. Tempted to call and enquire. Also not entirely sure where Chatham Place is - website is cagey, the virtual tour long on sunny plazas and short on details. But I don't think its in Kennet Island - http://www.kennetisland.co.uk/ - which is something. Kennet island is a disaster in the making... Enough rambling, but I'dd be interested in thoughts on the part-buy/part-rent scams.
  2. (the moneysaver threads...) 1FC: Advertisements offering money-for-nothing deals - for example, "Instant Equity when you purchase our flats at £20k below market value", or "become a millionaire without working" are 100% reliable and should always be trusted. 1FD: If the above offers turn out too good to be true, those taken in by them have a right to sympathy and should never, ever, be criticised.
  3. Maybe not. If the "buyers" have signed a legal agreement that they will buy (in 2 years, on completion) then that's enough if the credit is plentiful. That's the whole "flipper"/pyramid scam mentality.
  4. 112: Embedding halogen lamps in the ceiling of an apartment is a guaranteed way to add 100k to the value of said dwelling
  5. 11. Using Mortage Equity Withdrawal to purchase a new 4x4 is completely different to taking out a loan to buy one. 12. When people are deeply in debt, the only solution is to lend them more money. EDIT: numbering
  6. My dear, how *do* you manage? (The people who deal with these things for me tell me that £200k just about covers the upkeep of my childrens' ponies!)
  7. http://www.housepricecrash.co.uk/forum/ind...c=73376&hl=
  8. and very informative his posts are. But I think he concentrates on LTV/margin calls on BTLs. I would be very surprised if the banks hassle OOs who pay ontime. The publicity would be awful. BTL businesses, however..
  9. for a good analysis, check out: http://www.biased-bbc.blogspot.com/
  10. Congrats! buying the right property for the right reasons and not trying to get the last few percent. As someone else said on HPC: smart people sell before the peak, lucky people at the peak. Same is true of smart buyers. Enjoy your new place!
  11. hi which is why the banks lent to the US, which does? http://www.atimes.com/atimes/Global_Economy/JE20Dj05.html "The monster and the sausages" By Spengler Germany's President Horst Koehler has denounced the world financial market as a "monster" using "highly complex financial instruments" to make "massive leveraged investments with minimal capital". Koehler, formerly head of the International Monetary Fund, seems perplexed about the causes of the present crisis, but I can explain them in a way any German can understand. Derivatives are like sausages. You take the low-quality parts of the pig that you don't want to look at while you are eating them, and grind them up into a package that seems more appetizing. The German financial system wanted to consume low-quality American assets, but did not want to look on what it was eating. German banks have written down about US$25 billion in securities derived from low-quality ("subprime") American mortgages, and doubtless will lose a great deal more. But it is silly to blame the sausage-grinder. Why didn't the Germans and all the other overseas investors buy mortgages in their own countries, instead of scraping the bottom of the credit barrel in the United States? It is because there aren't enough Germans, or Italians, or Frenchmen or Japanese starting families and buying homes. There weren't enough Americans, either, and therein lies a tale. The aging pensioners of Europe and Asia must find young people to pay interest into their pensions, and they do not have enough young people at home. Germans aged 15 to 24, on the threshold of family formation, comprise only 12% of the country's population today and will fall to only 8% by 2030. But one-fifth of Germans now are on the threshold of retirement and half will be there ....
  12. And Romans in Berkshire, some years ago... "A READING firm of estate agents last week admitted trying to "drum up business" by putting bogus 'sold' signs up outside their own homes. Magistrates heard how Romans displayed the signs outside the homes of an employee and two of its own directors, even though none of them were for sale. And yesterday the company, which has offices in Reading town centre, Tilehurst, Winnersh and Wokingham, was convicted of making three false statements under the 1968 Trades Description Act. Paul Cooper, prosecuting, said the intention was to make it appear Romans had a more impressive, faster sales turnover than its rivals. He added: "It was just a method of drumming up business or making Romans look good." The ploy came to light a fortnight ago when a suspicious, rival estate agent complained to Wokingham trading standards department which removed the signs and brought the prosecution. Peter Coles, 37, Romans' company secretary, of Nine Mile Ride, Finchampstead, and fellow director Vincent Courtney, 36, of Kiln Ride, Finchampstead, were fined £900 each and the company was fined a total of £3,000. They admitted the offences. "
  13. Hav'nt we outsourced the missile-command monitors to a call-centre in Bangalore?
  14. hi from Guido Fawkes's blog. http://www.order-order.com/2008/05/norther...fer-to-buy.html "The letter from the Northern Rock Shareholders Action Group makes an offer of £100 for the Labour Party and gives "the existing Party members the opportunity to buy it back in 5 years time at the same price". This will give the Labour Party a "period of temporary private ownership under a new management team…which may well give it the breathing space it needs to recover and protect the interests of all the stakeholders." Well they are bankrupt and those are reasonable terms, better than the Treasury offered..." (see .jpg of letter!) (I have little sympathy for NR Shareholders or the Labour Party. Perhaps they should merge?)
  15. hi, from the articles (no thread that I could find on the forum) http://www.dailymail.co.uk/pages/live/arti...mp;in_a_source= Sir John had this all mapped out, years ago: THE COSTA BLANCA (Two sonnets) SHE The Costa Blanca! Skies without a stain! Eric and I at almond-blossom time Came here and fell in love with it. The climb Under the pine trees, up the dusty lane To Casa Kenilworth, brought back again Our honeymoon, when I was in my prime. Good-bye democracy and smoke and grime{:} Eric retires next year. We're off to Spain! We've got the perfect site beside the shore, Owned by a charming Spaniard, Miguel, Who says that he is quite prepared to sell And build our Casa for us and, what's more, Preposterously cheaply. We have found Delightful English people living round. HE (Five years later) Mind if I see your Mail? We used to share Our Telegraph with people who've returned - The lucky sods! I'll tell you what I've learned: If you come out here put aside the fare To England. I'd run like a bloody hare If I'd a chance, and how we both have yearned To see our Esher lawn. I think we've earned A bit of what we had once over there. That Dago caught the wife and me all right! Here on this tideless, tourist-littered sea We're stuck. You'd hate it too if you were me: There's no piped water on the bloody site. Our savings gone, we climb the stony path Back to the house with scorpions in the bath. John Betjeman
  16. I have to admit that, though my cabin will escape any real danger, we can feel the deck tilting. So at our cocktail party we all lean slightly against the camber! This sturdy action, doulble-strength drinks, and strident voices will see us all through, I've no doubt!
  17. thank you, you cheered up my morning! loved the quote from the ad: "The town of Rustington is a vibrant location providing a wealth of local shopping facilities...." Rustington, deep in the Costa Geriatrica, is the last possible place I would describe as "vibrant" "whilst the towns of Littlehampton, Arundel and further afield Chichester offer an array of sophisticated leisure and retail amenities. " Good to see LA given a plug. We used to say - going clubbin' in L.A. alas, not los angeles...
  18. Another crazy line from the article... "Once he has dug himself out of his current financial difficulties, Lee will consider getting back into the business." what - when he has paid off £3m debt? Some serious digging, methinks!
  19. no idea: I tried to join the "UK Association of Body-Part Black-Marketeers" - but when they found out I was into BTL they would'nt let me join, stating I would tarnish the image of the UK-ABPBM.
  20. I take a stronger line. Any children born to the tenants of my BTL empire are automatically indentured to me for life, however there is a break clause at 10 where their parents can release their offspring from the bond for £5000.
  21. reminds me of an advert for a Ford XR3i... (OMFG how that dates me!)
  22. again, thank you for the informative update. fascinated by the windsor one, and very grateful u found the link and reduction - i will pass it on to the rellies who watched the show with me. i was the only skeptic when Beeny announced the properties were sold/under offer at asking price... BTW: loved the Clevedon advert: "This superb ground floor apartment is centrally located within the town and has a claim to fame as it has featured on a TV property makeover show" and also on hpc? EDIT: drunken spelling
  23. totally confused. is this a private scat fantasy or disapproval of La Beeney? (and wtf has it to do with the propertycrash?) FWIW she;s quite sexy, and refreshingly not the usual media anorexic stick-insect. But her property ramping brings up the bile in my throat...
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