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ʎqɐqɹǝʞɐɥs

1 Bed Flat Used As A Cash Machine.

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Just heard tonight that my cousin has MEW an extra 20,000 out of the 1 bed flat he bought in a Glasgow sink estate 2 years ago for 34,000. He now estimates it is worth at least 44,000 so has been happy to MEW 20,000 for a new car, his wedding in Barbados next year, and a holiday this year. Oh yes I almost forgot he is speading some of the cash doing up the flat. He reckons one coat of Magnolia. Its already been signed and agreed, I had no chance to dissuad him otherwise about his error.... after all what right minded individual wants to wake each day in a Magnolia coloured groundhog day? ;)

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Just heard tonight that my cousin has MEW an extra 20,000 out of the 1 bed flat he bought in a Glasgow sink estate 2 years ago for 34,000. He now estimates it is worth at least 44,000 so has been happy to MEW 20,000 for a new car, his wedding in Barbados next year, and a holiday this year. Oh yes I almost forgot he is speading some of the cash doing up the flat. He reckons one coat of Magnolia. Its already been signed and agreed, I had no chance to dissuad him otherwise about his error.... after all what right minded individual wants to wake each day in a Magnolia coloured groundhog day?  ;)

LOL, he's done the classic car and holiday combo, with a sensible touch of 'splash some money on the house too' to keep its value up.

But is there any point in this reply if you're outta here?? :rolleyes:

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What is going to happen when people realise that at some stage they actually will have to work to earn this amount of after-tax income?

It's quite a frightening thought for many, no more free money?

How on earth will the British economy cope without it's daily fix of free cash?

Methinks it won't. This junkie is going to have to go cold turkey.

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look at the graph page on this sight.. the mortgage equity release graph..

See where it dropped of..

and then look at articles in the news.. articles posted in the top left.

Not only is the economy going to struggle without this money..

It was this money that shielded it from the extra debt that new homebuyers were entering... now it has gone.. the highstreet is having an embolism....

Everyone is paying back debt..

and mewing..? BTL changing their property portfolio.. what does this mean...?

How many owe the market peak value of their property..?

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question is.....who is going to get punched. at somepoint, someone will have to stand this amount.

is it the lender ..?

is it the bank...?

is it the FTB..?

the government..?

will it be..babs winsor...?

who would live in a glass house like this.....

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is it the lender ..?

is it the bank...?

is it the FTB..?

the government..?

will it be..babs winsor...?

Lender? Aint they all selling debt to china?

Banks? Ditto

FTP - nah a year later he's clean as a whistle and up for it again

Government? Nah this lot are teflon coated.

Babs Windsor? Could be.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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