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House Price Crash Forum


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Everything posted by jimmylad

  1. Thanks for all the replies. For the last 6 years, we have had to sign a an 11 page AST every 6 or 12 months. I assumed that because the new agreement was for 2 years instead of the usual 6 months & the fact that we had spent quite a bit on new carpets & decorating since the last agreement was signed that the new lower price was a reflection of the longer term & our improvements. This new agreement is a "Supplemental Agreement" to the last AST we signed and that "The terms and conditions of the the extended period shall be the same as in the principal Agreement except as amended by this agreement." The amendments are: a 2 year period & the new lower price (with the new dates) which is why I believed the lower price was for the extended period & offsetting the money we had spent. If the monies were the same why did list it as a change. Knowing this I signed it in good faith & changed the direct debit accordingly. Once they had noticed that the payments had changed (Now assuming we are paying them short & now in rent arrears) they have been on to us none stop texting, calling & sending out letters insisting we sign the new contract with what they now deem is the correct amount & that the old amount was a mistake. I have written back to them to tell them that we are now seeking legal advice & not to register us as being in rental arrears as we have done everything that has been asked of us & to what we have signed for. The top & bottom is, they have realised their mistake & want a second chance to correct it. If the solicitor advises us to re sign the new contract & back pay the money owed then I will. If he doesn't then I wont.
  2. We were asked by our letting agents to go in & sign a new agreement down at the letting agents. When we signed we noticed that the amount had changed from £550 a month down to £435. We just assumed that because this was a 2 year agreement rather than the 6 month agreements we had been signing for the last 6 years & that we had recently decorated & put new carpets in we assumed that the new price was to reflecting the longer term and our improvements. We changed the direct debit accordingly & went away on holiday for 3 weeks. When we came back we had really snotty letters about being in arrears & phone calls left on the answer machine. I pointed out to them that the payment was in accordance with the new agreement to which they went "Oh". Now we have been sent a new backdated contract & a text saying please sign the new agreement ASAP otherwise our tenancy will become periodic. Where do we stand. Thanks in advance.
  3. Looking to build one anyway but it's hard to get the right plot. You drive round & there is loads of land out there that could take the odd house here & there.
  4. Everytime I've been to one of these designer outlets ( been twice at most actually) I dont think I have ever bought anything. Heard friends raving about how cheap stuff is but when I have been I have found my self thinking " that aint that cheap". Bit like Costco as well. Been there a few times with friends who are members & came away thinking it was dearer than the supermarket ( for things that I was interested in buying) I find the best way to shop ( if you can afford to do it) is to buy things when they are on offer. EG - bought box of 72 weetabix last year from tesco's for £2.72 so I bought 6 boxes & just finished them recently. Buy Special K when on offer too & coffee & t bags etc.. etc.. etc.... We bulk buy most items apart from fresh stuff & visit Aldi (or is it Lidl) once a week for weekly consumables like veg etc............. New Tesco express near me opened (they made a big fuss about it) so walked there to have a look & was quite dissapointed. Saw some Haywards pickled onions for £1.86 ( bought the same jar the week before from Aldi/ Lidl) for 86p. Difference of a quid so in my opinion they are just profiteering. Buy when cheap & buy in bulk.. Talking of cars. Got a 335D coupe (chipped to 350 bhp & 520lbs torque) that does as little as 28mpg on a short busy school trip but will also do 50mpg on the motorway if I drive carefully but like someone else said earlier it gets more economical the faster it goes (up to a point). If you sit at 55 mph (1400rpm) on a motorway you would think that this is the best speed for economy but the instant readout drops right down on the steep hills knocking back the average. If you drive at 70mph (1700rpm) then the needle spends far more time over the 50mpg line on the instant readout & there is more momentum & torque to get up the steep hills easier. Best ever seen was 53mpg on a round trip to Cambridge (hardly using any brakes / rolling up to roudabouts etc) That was hard work to be honest & back in the day when I though going slower would get me better mpg. Had I just drove normally I would have got 50mpg anyway. Had a 1.3cdti astra before that which averaged 50mpg but you had to rag it to get it rolling & would struggle in 6th gear quite a lot if the speed dropped below 60. The BM averages 37mpg overall & there is no contest to which is the better car. Cant think of any other car that has 350BHP & can crack 50mpg and will do 0 - 100 in 12 secs. Made no sense for me to have a 1.3 astra as I only drive 8k mile a year.
  5. Not wanting to give the cants any ideas but how long will it be before they go through all Liar loans & cross reference the earnings entered on the application forms with the inland revenue & say "We know you have made a fortune on you house through lieing about your income so if you give us half of your capital gains we will look the other way. Just this once mind" Then you have to say to yourself if they wanted to do that they could quite easily have done so but they wanted everyone to take on loads of lovely debt........
  6. The pound has reacted very very positively off the back of this which tells me they are also manipulating the market ie. buying the pound at the slightest bit of good news trying to get it back up wonder how much Brown is throwing at this
  7. All these " still unemployed" people will be wondering what they are doing wrong & where are these jobs
  8. And no use of the word "unexpectedly" !! funny how the markets were expecting an increase so this was deffo a case of unexpectedness we all know the figures are a political tool when needed to be
  9. As an STR who has lived abroad for the last 30 months (now bored of the limited opportunities so coming back to UK) we are looking at rental properties & everyone that stands out goes within a week. There are loads of choice but to get something half decent you have to pay that bit more & just when you think you have found one it has gone. Got a business lined up & looking forward to the challenges ahead. edit - added the word rental
  10. http://www.nytimes.com/2010/03/08/business/08short.html
  11. Greece will probably get the blame for everything from here on in............................................ I think there is far more doom & gloom around at the moment & to be totally honest the whole system is broken from top to bottom & unrepairable & I really don't think there will be a solution to correct all this that wont cost thousands & thousands of lives ( war, massive natural / unnatural disaster or some sort of plague) We are due a reset but in human terms I fear. Time to watch the Bear Grylls collection again.
  12. Neither do I.........................If they didn't keep rising prices on everything as much as they do over the 45+ years you could be working then maybe it would. Basic example 1960 - Loaf of bread 5p 2010 - £1.30 Because we are in such a mess again they will probably try & inflate their way out of this mess meaning contributions paid now wont cover anything in years to come. Same as it ever was.....................
  13. Is it to much bother to click the link & read it for yourself ? What I find interesting is that the person who thought they could just hand the keys back & walk away were then given the house back only to find that they are now liable for the costs of the demolition. A sort of pass the parcel game going on between 2 parties liable for the said property. Interesting in the fact that you have a property that no one wants now but obviously prepared to take on a debt for only a few short years ago. How things have changed. Can you imagine that happening in the UK cos 3 years ago the American would have said "No way" to this outcome back then.
  14. be a good excuse though to re introduce it tomorrow
  15. http://www.nytimes.com/2009/03/30/us/30walkaway.html?_r=3&ref=business
  16. http://www.dailyfinance.com/story/real-estate/more-than-5-million-homes-will-be-worth-less-than-75-of-their-m/19342799/?icid=main|aim|dl4|link2|http%3A%2F%2Fwww.dailyfinance.com%2Fstory%2Freal-estate%2Fmore-than-5-million-homes-will-be-worth-less-than-75-of-their-m%2F19342799%2F
  17. "doomberg" Made me smaile.................love the wit on this site
  18. http://news.sky.com/skynews/Home/Business/Music-Group-EMI-Will-Announce-Massive-Losses-Of-15bn-For-Last-Financial-Year/Article/201002115542233?lpos=Business_First_UK_News_Article_Teaser_Region_1&lid=ARTICLE_15542233_Music_Group_EMI_Will_Announce_Massive_Losses_Of_%3F1.5bn_For_Last_Financial_Year more bear food
  19. And next month if the figures are better they will be saying "Sharp rise in .................." or " "Surges ahead"
  20. Had it been good news it would be all over the media & down as "Breaking News" on the Sky website Par for the course I suppose.
  21. I think MEWing has been the biggest factor of the "booming" last 10 years. People borrowing money from future HPI to pay for holidays, cars, pay off credit cards& loans & updating a property to add more value but now that's over big time & thus the crash that is upon us. This is why house prices are being protected at all costs cos it's at least 50% of the entire UK economy. All the following trades have seen unprecedented growth off the back of HPI............................. Estate agents, solicitors, lawyers, builders ( inc. plumbers electricians etc) new car sales, holidays / cheap airlines, financial adviser types, electrical goods, 2nd homes, holiday homes etc etc etc etc etc.......................... They were only busy cos people were making a fortune from HPI & now it's stopped the game is on trying to create another bubble but as we all know on here it cant continue. People have got used to it & can't live without it. Look at the graph of Mewing. It tell you a lot.
  22. Smacks of desperation to me & only a very small % would go for this IMO. They are probably hoping that if they can tempt the FTB's back they will kickstart HPI again. As someone pointed out maybe they are anticipating more falls & hope to pull in some extra houses on the way down to balance the books. They are going to dream up anything everything to keep the bonuses rolling in so anything is possible.................................. I just don't get why most people think that HPI is a good thing. I really don't.
  23. when the government stops intervening which shouldn't be too long really. Some with houses want /demand/ expect house rises of of 10% year on year which is not possible but you try telling that to a bull. Just do the maths. A 10% wage increase in a year would say be £2,500 but for a house 10% could mean £15k which is what we have had in housing for the last 10 years but not with wages. Houses are insanely un affordable & the gap is way way too big. I'm starting to think that if house prices do crash so will the UK which is the signals they seem to be sending out quite loudly.
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