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hp9man

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About hp9man

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  1. hp9man

    New Taxation Concept

    In my quest to simplify the UK taxation system, I have been considering the feasibility of a new tax aimed at those with excess cash and reduced common sense. In addition to current income tax, I would add a "vanity" tax. This would be aimed at people owning personalised number plates. For a simple non-standard number plate (XYZ 123) the increase in income tax would be an additional 2%. Where the owner has made a feeble attempt to spell a word or name (W4NKR) the rate would increase to an extra 5%. Where the number plate alludes to a particular make or type of vehicle (X5 DMB) then the rate would be an extra 10%. One of the advantages of my scheme would be that estate agents would almost certainly be included. Any comments / suggested refinements before I send my idea to George?
  2. hp9man

    Why I Hate Estate Agents

    If I go to Selfridges and pay £1000 for a handbag I get treated like royalty. It's a pleasure to business with them. If I go to BMW and pay £25000 for a car I get super-helpful, prompt, efficient service. It's a pleasure to business with them. If I go to an estate agent with £1000000 in cash to buy a house I get treated as they're doing me a favour. I get shown around properties by young half-wits. They lose our details repeatedly. They never call back. They lie. They are appalling businesses and have no concept of customer service. That's why I hate them. Rant over.
  3. hp9man

    Are The Shires Crashing ?

    I think the count may have spotted something. Here in Herts HP4 things have definitely slowed since Christmas. We're looking for 4 / 5 bed detached and in this market: 1) Houses which last year would have sold very quickly, for full asking price, sometimes first appearing on RM as already sold, just aren't moving anymore. 2) A few houses have appeared recently with multiple agencies. This has almost never happened here before. Desperation, or an effect of OTM confusing vendors? 3) Some prices drops! WTF. 4) The appetite of local developers for knocking down shite houses and building overlarge trophy "architect- designed" palaces seems to have dried up. 5) Lots of phonecalls from agents (we're cash buyers) and even a mailshot with a stamp! We've waited two years for the market to rationalise, but it's been inflated by crazy Londoners to whom £1.25m for a grotty Victorian money pit with no on-street parking seems cheap. Once that money supply dries up things should get interesting. Or perhaps they won't. No doubt a forest of "Under Offer" boards will appear tomorrow, just to depress me.
  4. Having STR a while ago we have money sitting waiting for a suitable property to appear, for a 100% cash sale of around £800K. But. Let's make the assumption that a black swan will appear in the not too distant future and interest rates will start to rise rapidly. So what would happen if I buy a house now and take out one of the cheap 2.76% interest-only 3 or 5 year fixed rate mortgages for perhaps 75% of the value of the property. I still have 75% of the money earning interest, 2% at first but then rising to (let's say) over 5%. I pay off the mortgage in full at the end of the term and pocket the interest I've earned on the cash. I wondered if you thought this plan was (1) feasible taking into account any charges etc and (2) worth the effort for the likely return.
  5. I believe the actual house was 57 Kewferry Road, Northwood. Probably £800 - £900 K now. If you're nuts.
  6. I've just read "Whoops" by John Lanchester. It's an interesting book which tries to explain how the credit crunch happened in layman's terms. There's a good chapter called "Rocket Science" where he describes CDOs, CDS and SPVs. As an example he talks about how you could do the same things by lending money to your neighbours, getting another neighbour to insure the risk etc etc. However, there's one bit which I still can't get my head around. It's half way down page 57 if you're browsing in Waterstones.... "So what you do is create a company, ideally based offshore where it pays no UK tax, and extend to it the credit to buy the loan back from you. You lend it a virtual £100,000, it buys the Wilsons' debt from you and recredits you with the £100,000, so you're back in the black. (In practice, the example breaks down here, because you can't lend money to yourself and create credit in quite this way. But large financial institutions can and do). ...... and then you do the same thing again and again." Is this where the flood of credit came from? I thought only governments could create / print money? Could anyone clarify?
  7. hp9man

    Retailers Going

    Oh no! We love buying stuff from Fat Face - but always in their frequent 50% off sales. In fact I don't think we've ever paid more than half price for anything. Yes we are a couple with children buying cool (?) surfer / skater gear even though we'd never consider actually surfing / skateboarding etc ourselves.
  8. hp9man

    Still Crazy In Beaconsfield

    Yes, both have been sold STC status for months, and months, and months. If they managed to sell the other one of the pair it will be interesting to see if the sold one then appears back on the market.
  9. hp9man

    Still Crazy In Beaconsfield

    Seems like the property in my original post is now off the market. Guess they couldn't accept / afford the pain of pricing realistically. Very little moving here now, but a lot of the "two houses where there was one" developments seem to have one sold sign up but the sold property still remains empty for months. Probably trying to sucker in an unwary buyer. Two examples: A truly ugly house in one of the worst locations in the old town http://www.rightmove.co.uk/viewdetails-216...p;mam_disp=true A stupid greedy development which tried to squeeze two grim houses in the place of a small bungalow http://www.rightmove.co.uk/viewdetails-9382017.rsp?pa_n=6&tr_t=buy&mam_disp=true There are so many new properties empty now. The cost to the developers must be crippling. It's a pity that in the peak they still managed to sell enough flats to f*ck up the place for ever.
  10. No, his real skill is his killer forehand. You didn't know his qualification is as a tennis coach? To me PJ is the classic example of Taleb's rich man who thinks he's clever, and does not realise his success is just down to luck (eg. stumbling into mobile phones at the start of their boom). See www.peterjones.tv for more exciting information...
  11. hp9man

    Still Crazy In Beaconsfield

    Surprisingly it's already dropped to £435,000. That's 5% in a month? They need to make it look a bit lighter inside in the pics I guess. http://www.rightmove.co.uk/viewdetails-226...p;mam_disp=true
  12. Despite other cheaper & bigger properties sticking for months in our road one bold vendor has decided to go for a new record price of 460K for a small 3-bed semi. Perhaps it's Olympics fever, going for gold etc? http://www.rightmove.co.uk/viewdetails-226...=1&tr_t=buy Not sure of the point of the downstairs wetroom. Useful for washing the dog I suppose? It seems crazy to us, but this is Beaconsfield. And as all the agents tell me, it's "different" here.
  13. hp9man

    Unrealistic Buyers Out There !

    OP needs to: 1) Download latest version of Property Bee 2) Search Rightmove for their area and price bracket +/- 100K 3) Let Property Bee show them the many, many drops in the past few months 4) Sob quietly Simple really. No need to get annoyed. You won't be able to sell your house unless you undercut the market by at least 20%.
  14. hp9man

    Cheltenham

    Thanks for the info - very useful and in line with my guestimates. There does seem to be a lot of stuff appearing on Rightmove eg. Cheltenham + 1 mile = 31 new properties in last 24 hours. We have no preference about area. The logical choice would be something newish on the outskirts - but the more interesting choice would be a big, draughty victorian pile with lots of character near the centre. Good timing on the STR by the way, we would have too if we didn't have an 8 year old...
  15. hp9man

    Cheltenham

    We're seriously considering relocating from South Bucks to Cheltenham later this year with a budget of 500-600K. My initial observations are that there is a lot on the market (Cheltenham isn't that big really) and also a lot more seem to be added every week? Any info would be gratefully received.
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