markyh Posted February 27, 2009 Author Share Posted February 27, 2009 P.S. I have little clue when it comes to all this gold talk but that site you pointed out looks interesting... any hints/tips/words of wisdom? Well im no expert but i'm also not adverse to risk to certain limits. My tips, by in a least 1oz chunks when prices dip, depending on where you think the £/$ rate is going hold in those currencies. If you think the £ has more to fall against the dollar hold in sterling, as the weker Sterling is the more you will get back for your gold as it it sold in $. vice versa if you this the doller will tank vs sterling. Hold in dollars cause you will get more back when you convert it to cash. I bought at between $750 and $900 an oz but bought in Sterling when it was still at $1.80 - $1.90 to £1. I sold in December when I made the offer at about $930 oz but crucually at $1.55 to £1 so made a good 20% can when I got pound notes back in my bank account. Like shares it's a punt unless you are very clued up. Read the gold posts on the investment forums. M. p.s i am down 35% on shares ATM which is over a £3k loss. But........some of my 09 buys are making a killing now and clawing back losses from my 07 / 08 buys. Quote Link to comment Share on other sites More sharing options...
Perishabull Posted February 28, 2009 Share Posted February 28, 2009 (edited) Interesting range of reactions from your post. It looks like you have done what is right for you and your family so fair play, everyones situation is different. George Soros was once asked how he became so rich, his answer was, "by selling early". Of course the other side of that coin is that you buy early and it looks like you have done both. Could well be a prescient combination, time will tell. Remember folks it's always very easy to only see the side of the coin you want to see when it is spinning. The genius lies in seeing both sides at once...and then you are better placed to see how it lands. Edited February 28, 2009 by Perishabull Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted February 28, 2009 Share Posted February 28, 2009 You better be careful, or the HPC Black Shirts might turn on you, if you keep this up. They already have!!!!!!!!!!! I'm already a troll, NuLabour blogger, EA, desperate vendor, mortgage broker, VI, BTL landlord and banker, and that's all before lunch!!!!! Chr1st, I never knew I could be so busy...... Quote Link to comment Share on other sites More sharing options...
markyh Posted February 28, 2009 Author Share Posted February 28, 2009 George Soros was once asked how he became so rich, his answer was, "by selling early". Of course the other side of that coin is that you buy early and it looks like you have done both. Could well be a prescient combination, time will tell. George Soros.....psshhhh............I earn more than him in a day. Quote Link to comment Share on other sites More sharing options...
i wanna house Posted February 28, 2009 Share Posted February 28, 2009 (edited) Jesus GOM , are you going to stalk me? Or are you a researcher for TV who will put me on the next run of Andy Verities " the truth about house prices". If i am made redundant I have antinsurance Income protection cover for 12 months covering 75% of my take home. My wife earns 90% of what I earn, we only need one wage to live and make C&I payments and we have held back £10k cash back up and kept £7k of 07/08/09 equity investments that are currently 35% down (£10800 of STR pot invested). My trade is hydraulics / pneumatics and I have been in the trade 20+ years, and in Sales for 13 years so can work in any area of the busuness. My wife is a PA for one of the worlds biggest American companies and her boss is the big cheese for the EMEA region for her division. So unless her division gets shut down (and that is medical) then we are quite safe. Oh........and as previously mentioned, the I/O payments @ 2.49% are so low they could be paid for monthly by job seekers allowance!!! M it has always been easy for the rich Edited February 28, 2009 by i wanna house Quote Link to comment Share on other sites More sharing options...
markyh Posted February 28, 2009 Author Share Posted February 28, 2009 I'm already a desperate vendor, BTL landlord , and that's all before lunch!!!!!Chr1st, I never knew I could be so busy...... Now these two i might beleive , i bet we have lots of these on here now trying to figure out how to sell their property at 07 prices to STR and make a killing. Sorry dudes.........as I heard on here all the time from the 05/06/07 bulls.............YOU'VE MISSED THE BOAT. wow i feel feeling good saying that. M Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted February 28, 2009 Share Posted February 28, 2009 Now these two i might beleive , i bet we have lots of these on here now trying to figure out how to sell their property at 07 prices to STR and make a killing.Sorry dudes.........as I heard on here all the time from the 05/06/07 bulls.............YOU'VE MISSED THE BOAT. wow i feel feeling good saying that. M Well done. And enjoy the house. Quote Link to comment Share on other sites More sharing options...
leveller Posted February 28, 2009 Share Posted February 28, 2009 Unfortunately possibly yes, I wondered when someone would pick this up. But I am flanked but private houses confirmed by the sales girls as we are all completing in March sometime. You cant get away from this now on ANY new development of 15 houses or over. Its law. 25% minimum must be social housing, and the social housing mix must be at least 50/50 rented vs part own part rent. Also, the social housing part can not be put into blocks of more than 15 properites. Otherwise the developers will put the 25% HA stock into one cormer and put a wall around it to keep it away from the 75% more valuable "provate part of the estate. How do i know this? Remember my retired local government employee dad? He spent 40 years in a bucks councils planning depts and only retired last year. But..........I come from a council house background (ok Tring is a nice place to have had council housing, very expensive herts town) but my mum is still in the same council house, since 1977 now. and my dad is in HA flat, ok, also a posh town around Amersham, but still HA. No trouble ever. Like i said, HA people in SE are not always the same as HA in big towns and cities. Most see it as a way of cheap affordalbe housing so they can have an ok job and still live a nice life with money in their pockets. Tring I remember early 90's recession, I helped clear a repo'd house with a fvcking tank in the detached garage! I'm glad you mentioned you were brought up council house background, too, but I don't understand why you say "Unfortunately possibly yes". They/we are not all bad, I live on one. People are people, rich or poor. Quote Link to comment Share on other sites More sharing options...
markyh Posted February 28, 2009 Author Share Posted February 28, 2009 it has always been easy for the rich lol. I was raised in council housing and am the first person in my family for two generations to own property. Until I was 7 we lived in a house with no central heating and it had no bathroon built until I was 4. It was tin bath by the fire in dads used bathwater. I started my first job in 1988 on £7k p.a. none of this girls blouse minimum wage then, you had to work two jobs 7 days a week for a good few years. Only gave that up when I was 21 and earning more on my main job. Why did i buy a house with the ex girlfriend in 1996.........becasue it was suddenly cheaper than renting privately even with IR @ 7%. This would cripple people now IR this high. Was i just lucky? Well i found the harder I worked, the more I involved myself with the wolrd of understanding money and finance, the luckier I got. M Quote Link to comment Share on other sites More sharing options...
markyh Posted February 28, 2009 Author Share Posted February 28, 2009 I'm glad you mentioned you were brought up council house background, too, but I don't understand why you say "Unfortunately possibly yes". They/we are not all bad, I live on one. People are people, rich or poor. Well because , sigh, when I was a kid council housing was for 95% working class, nice people. Lots of the time that is still the story and I have no preblems with that. The unfortunate bit is now their is a large proportion of "benefit" class and sadly they cannot be kept out of the social housing HA property aspect of new build estates. I have confirmed this with the AVDC housing officer, the HA are not required to ensure that their tennents actually "work" to pay their rent, the DHSS can pay it for them despite it's low cost. I my experience it's this lifestyle underclass who casue 90% of the trouble and bad press for social housing and they where very scarce when I was a kid / teenager, even twenties. So maybe im a snob now but the idea of buying a house where round the corner can be a few beneifit scroungers who break into your car and house at every opertunity doesn't fill me with glee. But we will take the punt and give this New Labour social experiment a go to see. But my house alarm system is already booked to be fitted the first week we move in!! M Quote Link to comment Share on other sites More sharing options...
Bardon Posted February 28, 2009 Share Posted February 28, 2009 (edited) They already have!!!!!!!!!!! I'm already a troll, NuLabour blogger, EA, desperate vendor, mortgage broker, VI, BTL landlord and banker, and that's all before lunch!!!!! Chr1st, I never knew I could be so busy...... That small fry, I have been charged with being "Criminally Irresponsibile" under the HPC One Eyed Bear Act Section 3.2 Crimes Against The Popular View. Edited February 28, 2009 by Bardon Quote Link to comment Share on other sites More sharing options...
Bardon Posted February 28, 2009 Share Posted February 28, 2009 it has always been easy for the rich If you cant beat them join them Quote Link to comment Share on other sites More sharing options...
lordofcolchester Posted February 28, 2009 Share Posted February 28, 2009 Just like to add my congratulations to you Marky. Good job and from your posts it is obvious you have thought of most things. One bit of advice, which I believe another poster mentioned, is make sure you do a snagging list and that the builder rectifies the problems you identify. Our last house (sold in mid 2006) was a new build and we had in excess of 300 items on our list (my father in law is a construction manager). The regional director was not too happy and did not want to do half the stuff. Anyway, I had all the sales literature which had phrases such as "luxurious development" "stunning finishes" etc and asked him to reconcile this with our home. Also showed him a "draft' letter with photos I was going to send to the press and give out copies to anyone potential buyers who came to their sales office. That did the trick. Quote Link to comment Share on other sites More sharing options...
JustYield Posted February 28, 2009 Share Posted February 28, 2009 I started my first job in 1988 on £7k p.a. none of this girls blouse minimum wage then, you had to work two jobs 7 days a week for a good few years. Only gave that up when I was 21 and earning more on my main job. £7K was actually reasonably OK for a first job in 1988, outside of London. My first job in 1988, pre university, was £6.3K p.a. in Warwick. Happy days. (The London crew got over £9K as I recall.) Quote Link to comment Share on other sites More sharing options...
lordofcolchester Posted February 28, 2009 Share Posted February 28, 2009 £7K was actually reasonably OK for a first job in 1988, outside of London. My first job in 1988, pre university, was £6.3K p.a. in Warwick. Happy days. (The London crew got over £9K as I recall.) My first job, post university, was GBP8,750 in 1994!! Was in Lincolnshire mind you. Quote Link to comment Share on other sites More sharing options...
displayed to non-members Posted February 28, 2009 Share Posted February 28, 2009 My first job, post university, was GBP8,750 in 1994!! Was in Lincolnshire mind you. You did well! I scored a 8,000 job in Bristol in that year (after cleaning hospital floors for a few months). Quote Link to comment Share on other sites More sharing options...
markyh Posted February 28, 2009 Author Share Posted February 28, 2009 £7K was actually reasonably OK for a first job in 1988, outside of London. My first job in 1988, pre university, was £6.3K p.a. in Warwick. Happy days. (The London crew got over £9K as I recall.) He he, like me I bet you remember that first pay packet a few years later when you first took home £1k net after taxes. Being still at home (just) i thought I was rich. M Quote Link to comment Share on other sites More sharing options...
desmond Posted February 28, 2009 Share Posted February 28, 2009 (edited) p.s. Yes i still expect it to fall in value by up to 20% in 09/10/11. Maybe more who knows, but dont care as we can stay here until the kids leave home in 20 years time. well, 20 years in a house that drops in value, new that suppose to look like old (I know, 90% of UK houses are pastiche architecture but this is just plain ugly and silly, why do you people like it?), with small windows, low ceiling and cracked walls....I would go mad after 5 years, I think.... Edited February 28, 2009 by desmond Quote Link to comment Share on other sites More sharing options...
Guest Daddy Bear Posted February 28, 2009 Share Posted February 28, 2009 The First direct HSBC is a dozzy. 1.49% over base no lower floor, It's for life, not 2 or 5 years, no tie ins at all and only had a £600 fee. I thought it was ok product considering what my HPC peers advised in November about IR dropping to 0% by mid 09 ( you listening mr butman poster joined jan 09 , yes i consider what these guys say in November 08 before making any offer).I will watch for the BR to ht 0% then watch for the climbs. If libor drops enough I hoping for around 3% five or 10 year fixes to appear for those with high LTV. If they appear and I still qualify I will grab one but i'm not going to panic into a 5% 10 year fix yet. why would I do that? I hoping for around 3% five or 10 year fixes to appear [/color]for those with high LTV. If they appear and I still qualify I will grab one but i'm not going to panic into a 5% 10 year fix yet. 3% 10 Year fixes are not going to happen now. 5 year fixes are too short - unless you pay it down within that time - can you? The last time the base rate went down (beginning of feb 0.5%) 10 Year fixes went up. e.g. C&G 4.99% went to 5.29% (I had been asuming it might go down 0.20% !). The futures market knows whats coming. The difference between 2.5% tracker and 5% Fixed is not much (if you are going to pay it down in 10 years) - the potential downside compared to upside of taking a 10 year fix as opposed to a 3% tracker is minimal. Anyway my advice is there. Take it or leave it - I could be wrong. Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted February 28, 2009 Share Posted February 28, 2009 (edited) 3% 10 Year fixes are not going to happen now.5 year fixes are too short - unless you pay it down within that time - can you? The last time the base rate went down (beginning of feb 0.5%) 10 Year fixes went up. e.g. C&G 4.99% went to 5.29% (I had been asuming it might go down 0.20% !). The futures market knows whats coming. The difference between 2.5% tracker and 5% Fixed is not much (if you are going to pay it down in 10 years) - the potential downside compared to upside of taking a 10 year fix as opposed to a 3% tracker is minimal. Anyway my advice is there. Take it or leave it - I could be wrong. I agree. Which is why it is even more immoral of the government to attempt to seduce first time buyers (or any other buyer, for that matter) back into the market with low interest rates; you can bet your bottom dollar that they also know what the markets know - that interests rates will rise sharply in the not too distant future. Edited for typo. Edited February 28, 2009 by Methinkshe Quote Link to comment Share on other sites More sharing options...
time 2 raise interest rates Posted February 28, 2009 Share Posted February 28, 2009 My doomsayer bit was about the folks who never have anything good to say when somebody here makes a half decent offer on a place - those who pick it apart and try to make the OP miserable. It's more to do with the fact that most of the "neither" or should i say the EAs and BTLers have been doing post like this for years, go back a couple of years they were doing them every other day. Turns out all those that bought then with these post are now in NE as house prices have crashed by around £40,000 since, funny most have not been back here with their tales of woe saying what a bad mistake they made . It's cheaper to rent when house prices are crashing by £2,400 a month. Quote Link to comment Share on other sites More sharing options...
time 2 raise interest rates Posted February 28, 2009 Share Posted February 28, 2009 (edited) Or to put it another way all home owners on the ave wage living in an ave price house are earning minus £100 a week. Ave wage £500 the price of the ave house is crashing by £600 per week. so that's £600 - £500 =minus £100 per week. Edited February 28, 2009 by time 2 raise interest rates Quote Link to comment Share on other sites More sharing options...
grumpy-old-man-returns Posted February 28, 2009 Share Posted February 28, 2009 What will, whats the life changing bit? Master of Puppets post Life changing thingy... you really haven't got a clue what's coming have you. Quote Link to comment Share on other sites More sharing options...
Godley Posted February 28, 2009 Share Posted February 28, 2009 Master of Puppets postLife changing thingy... you really haven't got a clue what's coming have you. ssssssssshhhhhhhhhh maybe I know a little more than you.............Give that some thought Quote Link to comment Share on other sites More sharing options...
markyh Posted March 1, 2009 Author Share Posted March 1, 2009 Update. I visited the house yesterday with my dad to see how the 2nd fix was coming along for mid march move in and we hit the sales office aroung 1.30pm. Very busy compared to December when I cut the deal. One sales woman with two couples discussing properties they had coming up / available with about three others popping in to look at the show homes while we were waiting for / returning the keys to ours. And the wife went today with our little girl to have a look and said the same thing but they had two sales women today, and again 3-4 couples / families looking. Maybe the price drops and low BRT rates are bring buyers out the woodwork? Mind you, if they have to sell first then they may not get a deal as Bryant dont do part ex anymore they just do this marketing thingy to help you sell by paying EA's fees etc. But interesting non the same. M Quote Link to comment Share on other sites More sharing options...
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