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House Price Crash Forum

Captain Coma

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About Captain Coma

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    London NW
  1. The downside of this abundance, of course, is that your bargain rental secured from a desperate landlord might be seized from under you by the bank as it repossesses the property. In the old days the landlord and agent would demand references and bona fides from the renter. Now, it is the other way around, and anyone contemplating a new AST should demand assurances that the landlord is good for the length of the tenancy. Beware the BTL landlord!
  2. Looks like they brought it on themselves, buying such a lemon off the Mafia as they did. Hardly a mention of "Household Bank Illinois Operations" anywhere. The 'code of silence' lingering on even now. That is till you google: the mafia Household Bank Illinois Operations ...Going down the list pressing the "Cached" button. THEN you get some understanding of what has been going on. "William Colby, who had been Director of Central Intelligence from 1973-1976, continued on after 1980 as the overseer of the new name, Household International". "AMERICAN HERITAGE SAVINGS
  3. Quite so, and also think how nervous government ministers must be feeling about setting a precedent if Brown decides to strip Goodwin of some pension rights. If incompetence really can be punished ex post facto, then the NuLab crowd must be scared of cutting their own throats. The gods of irony are awakening!
  4. http://business.timesonline.co.uk/tol/busi...icle5813493.ece Now, this is potentially dynamite. What if Goodwin was not the only catastrophic exec to take early retirement and benefit from NewLabour's kamikaze largesse? The Times raises the question and, revealingly (or not) Lloyds is refusing to answer the question ... What are the odds, folks? If these two piggies are also in the double pension money, there will be a bloody revolution. Myners to resign pronto?
  5. How long before private pensions are nationalised, Argentina stylee? They might have to ...
  6. Hold on, I agree with you - bait and switch from the bankers, the biggest heist in history ... but surely inflation erodes debts and benefits debtors. I believe the banksters wanted everyone in huge debt - and didn't mind lending on vastly overpriced assests, since even if they fell (thinking of property) the borrower would lose equity/deposit and still be in hock to the lender - nice stream of interest-income for the banks forever and borrowers reduced to penury for the foreseeable. What the banks didn't foresee was the extent of the crash, which wiped out equity and presented them with an
  7. Edmund Conway - just up on the Telegraph site. http://www.telegraph.co.uk/finance/finance...ay-experts.html I love this bit:
  8. Are you quite sure you are a bull? You sound more like one of us!
  9. Ah, but he was ... I think Elaine over at Culture of Life News has dug up some interesting stuff. She looks closely at an outfit called Gibraltar Securities. Apparently Madoff's mother was de-listed by the SEC after running some dodgy brokering operation in the early 1960s (on behalf of Madoff Snr or the mob ...), but it might still be going, laundering and what-not for Madoff Jnr - could explain where his trades were at perhaps? The media ain't on to this yet ... http://emsnews.wordpress.com/2009/01/17/al...bles/#more-1058
  10. I think it's this ... Yes, a determined cover-your tracks-and-pose-as-OO-but-let-out-your-property accidental landlord might think of re-directing mail, but then again might not (and re-direction ain't permanent), but let's admit that one is dealable with. The other, the insurance, I think is a condition in the contract of the mortgage, such that the lender must be certain to be indemnified if the house burns down. Insurer won't pay out unless it's the owner's place of residence, so if you are letting you need a more serious and more expensive policy (insurers are wise to the fact that tenan
  11. Two points: First, tenant will know that the landlord is on an OO mortgage because correspondence will be sent from mortgagee to tenant's adress. Second, owner's property insurance is void if not owner living there. Oops.
  12. Restricts supply only temporarily until amateur landlords have lost even more money while trying to rent out, then suffer forced sales. Sorry.
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