Carl J
-
Posts
18 -
Joined
-
Last visited
Content Type
Profiles
Forums
Events
Posts posted by Carl J
-
-
I've saved £20k and am going to buy a 2 up 2 down terraced which up for sale at £80k here in the north west. I've already got my tennant, she is a single mother of a 6 year old and is receiving £450 a month housing benefit for the house she is currently in. She'll receive housing benefit for at least 10 years until her daughter finishes high school so there is no risk of the property becoming empty in the near future. The best one I've found so far is fixed at 4% for 2 years but with a £900 fee, can anyone point me in the right direction for a better deal? Cheers in advance.
-
I've saved £20k and am going to buy a 2 up 2 down terraced which up for sale at £80k here in the north west. I've already got my tennant, she is a single mother of a 6 year old and is receiving £450 a month housing benefit for the house she is currently in. She'll receive housing benefit for at least 10 years until her daughter finishes high school so there is no risk of the property becoming empty in the near future. The best one I've found so far is fixed at 4% for 2 years but with a £900 fee, can anyone point me in the right direction for a better deal? Cheers in advance.
-
Blimey, touched a nerve or 2! lol
My plan is to also pay £400 a month in to the 2nd property. So instead of abuse, can you advise me on what kind of investment will give equal return for £400 a month for 20yrs? Will any match the price increase of property?
-
I will have finished paying for my house in 12 month time, am looking at buying a second property to let out and use as a retirement fund. Timing is crucial so what are peoples predictions on when prices will hit rock bottom? I'm 30 yr old and is this planned for a long term investment.
-
I have some shares in a company called keller group in the construction and materials sector which took a huge dip this morning. Is this sector expected to make a recovery or carry on falling?
-
if one of these 'rescue package' proposals go through?
I mean, they can't get any worse, can they?
Would it be worth investing?
-
http://www.housing.org.uk/Uploads/Home%20Truths.pdf
One or 2 upset folk on here if this is true eh?
-
-
According to I.T.E.M
http://www.dailymail.co.uk/pages/live/arti...in_page_id=1770
The housing market will shudder to a virtual standstill next year as aggressive interest-rate hikes finally start to bite, a leading forecasting group has warned.
Unrelenting rises in house prices are finally expected to halt, dropping from well over 10 per cent today to less than 1 per cent by the end of next year, the Ernst & Young ITEM Club forecasts.
Houses are currently overvalued by as much as 16 per cent, it warns.
An interest rate hike to 6 per cent will end the property market boom, ushering in a decade of stagnation, it says.
As householders are squeezed, the Treasury appears to be enjoying a boom.
Tax payments rose almost 10 per cent in the first quarter this year, compared to the same period last year, dramatically outstripping growth in wages and salaries of only 5.1 per cent.
According to experts, the Chancellor's 'trick' of fiscal drag is to blame for the rising tax burden. This is the policy of raising the tax threshold more slowly than earnings are rising. As a result, workers end up paying a higher proportion of their income in tax.
According to the ITEM Club's quarterly outlook, the downturn in the property market will be fuelled by high interest rates, which, it predicts, are likely to remain at or around 6 per cent until 2012.
Such an increase will dismay first-time buyers, who have watched rates rise five times in a year and are struggling to get a foothold on the property ladder. They currently stand at 5.75 per cent.
The rise would mean an additional £300 a year in costs to those on a £150,000 25-year repayment mortgage, taking annual repayments to £13,896.
The ITEM (Independent Treasury Economic Model) Club is a respected economic forecaster, which correctly predicted the property boom in 1998.
This is the first time that it has raised fears about the buoyant housing market and although there have been fears of a crash, the report claims the market will simply freeze.
By the end of this year, it predicts annual house price inflation will slow to 7 per cent and then steadily drop to below 1 per cent by the end of Peter Spencer, the ITEM Club's chief economic adviser, said: 'One thing you can be sure of is the housing boom has got to stop, and we will get whatever level of interest rates is necessary to do that.
'By the end of next year house-price inflation will be flat or negative.
'It now seems clear that we are all going to have to get used to a period of significantly higher interest rates.
'What happens then depends on whether people take heed of these rate rises and adopt a more cautious approach to their personal finances.'
He added: 'Tax payments are growing roughly twice as fast as pre-tax incomes. That's a staggering indictment of the tax system. It basically means that (the Chancellor) can sit back and watch the money roll in.
'Fiscal drag is bearing down heavily on disposable incomes, pushing the tax burden up to record levels.'
The effects of fiscal drag are not just confined to income tax.
Rising house prices have brought the Treasury billions more in stamp duty and inheritance tax.
The Government has refused to move thresholds for both to bring them in line with house prices, dragging hundreds and thousands of buyers over the higher tax threshold.
A Treasury spokesman attributed the rise in tax payments on record City bonuses this year.
He said: 'It is misleading to claim that households have experienced such an increase in tax payments.
'In fact, this data is heavily skewed by a small minority who have received City bonuses, which recently recorded record levels.'
Recommendations For A Buy To Let Mortgage
in House prices and the economy
Posted
This as a good investment and a pension for myself. I'm looking at putting another £500 a month into it myself so it should be comfortably paid for within the 10 yrs. I'm 31 yr old now and hopefully will be owning at least 3 properties by the time I'm 55. Tell me what other long term investment is going to give the same return as property? history says NOTHING will....!
Why?