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Change The Law To Protect Me From Myself--Merged Threads

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I think she deserves what she has coming !!!!!!

Since when is getting on the property ladder buying to flip or BTL.

Do many FTB's buy through an investment group??? :lol:

She took a gamble where she could not afford to loose.

She lost ! Tough Sh*t.

I have no sympathy.

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She followed the heard and made a bad decision. Not sure what she is worried about really though. If she has no assets PWC will gain nothing from suing her.

You can’t blame the banks for trying to be responsible. They get bailed out for reckless lending, they get blamed. They refuse to lend recklessly and everyone complains...

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The mystery is, just how did someone with this sort of financial acumen raise the £11 grand deposit in the first place?

Seeing as how the difference between the current value of the flat, and the agreed purchase price is about £11 grand, they arent going to bother taking her to court, seeing as she has no other assets. They would be better off agreeing with her to just take ownership of her flat and selling it. I see no reason for her to play the stress card over this one.

As for a law to protect yourself from you, that would be interesting. You can only protect yourself from you if you are very powerful, or have powerful friends, like bankers and Equitable Life investors.

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http://www.bbc.co.uk/news/uk-england-12207571

Plea to change law on 'glittering' deals for apartments

Four years after exchanging contracts on an apartment in Birmingham's "new icon", one woman fears being sued or made bankrupt.

The Cube was completed in August

Marketed as a "glittering jewellery box", Rosie Dyer, 30, said she was very excited about buying her first home in The Cube.

She saw plans for the canal-side tower and signed up to buy one of the 244 apartments it would offer - so purchased "off-plan".

The 23-storey building, devised by London "gherkin" designer Ken Shuttleworth, also offers shops, offices, a restaurant and panoramic city views.

But the glass-clad building, designed to echo the city's links to precious stones, has been hit by falling property prices and recession.

And Miss Dyer found she was in negative equity before even moving in.

"Myself and many other investors now find ourselves in the impossible position of being unable to complete on the apartments we exchanged contracts on - for reasons outside our control," she said.

She is now calling for changes to laws governing the sale of off-plan properties, to give people greater protection.

Miss Dyer agreed to buy the studio flat for £116,500, paying an £11,600 deposit when she exchanged contracts in 2006.

She said she wanted an investment for "her pension" and believed she was getting a bargain as was told by the seller it was worth £137,500.

However, Miss Dyer, a trainer for a mobile phone firm, said the flat was recently valued at £105,000.

She used her life savings for the original deposit, hoping to get on the property ladder despite a booming market.

Rosie Dyer felt under pressure to get on the property ladder

"At the time, the pressure was on to be a first-time buyer, and property was getting more and more expensive," she said.

Analyse the emotive use of the phrase "life savings" (she was 25 at the time).

Also, notice how the actual amount in negative equity is pretty slim. She appears to be comparing what she was told the flat is worth, with what it is now valued at. And anyway, new-builds tend to lose 5-10%, so what is she complaining about?

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http://www.bbc.co.uk/news/uk-england-12207571

Analyse the emotive use of the phrase "life savings" (she was 25 at the time).

Also, notice how the actual amount in negative equity is pretty slim. She appears to be comparing what she was told the flat is worth, with what it is now valued at. And anyway, new-builds tend to lose 5-10%, so what is she complaining about?

+1 and may I be the first to say Caveat Emptor

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I feel like an out of breath Cartman running to speak the rest of the guys at the bus stop!!!!

Guys! Guys! You are not going to ^]€ing believe this!!

Our lovely friend from this article is neither 30, nor a telephone trainer.

Look!!! She makes money by taking her clothes off for a Birmingham model agency

http://www.basemodels.co.uk/talent/detail/Rosie%20Dyer

Screw you guys, I'm going home!

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Property values go down as well as up!

Would she have borrowed £100k to put in the stock Market, unlikely, so why did she think the a btl was a sure fire thing? She failed, go bankrupt!

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I feel like an out of breath Cartman running to speak the rest of the guys at the bus stop!!!!

Guys! Guys! You are not going to ^]€ing believe this!!

Our lovely friend from this article is neither 30, nor a telephone trainer.

Look!!! She makes money by taking her clothes off for a Birmingham model agency

http://www.basemodels.co.uk/talent/detail/Rosie%20Dyer

Screw you guys, I'm going home!

Are her assets drooping?

It might be time for her to close her shorts.

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The Cube in Birmingham was split into two “sides“, one for investors and one for owner occupiers. This who bought on the owner occupier side had contractual clauses preventing them for renting the apartments out. The idea being that having a permanent resident base in the occupier side would help develop the sense of community. At present I believe there are still apartments available in both sides. Rosie Dyer who started the Facebook group bought in the investor side not the owner occupier side. Therefore anywhere she describes it as a “home” etc seems a bit misleading. She bought it as an investment. In fact, let me correct that, she took on huge debt making it a very leveraged investment. It went wrong. She doesn’t want to take the downside. Sorry but she has too, as do all others. If she bought on the owner occupier side I would have more (but still little) sympathy.

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Cheer her up by telling her that at £105 it's still way overpriced.

That'll put a spring in her step.

It's probably only worth £85k - it's a studio - one blinkin' room! It will be £75k by next Christmas. I feel sorry that developers can claim it is worth £137k when plainly it is not, as otherwise they would sell it for that. She has joined the list of naive 'investors' who are having their fingers burnt. Give it 12 months and plenty more will join in as interest rates ramp up and remortgaging or IO is made impossible.

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Actually, there is a MASSIVE step change in the BBC sentiment in here, all down to one subtle change, where they say

...hoping to get on the property ladder despite a booming market....

What they are admitting is that it WAS a boom, and the implication with it is that she was a fool at the time to have thrown her money away on such a scam.

As far as I remember, back at the time, no-one in the BBC was admitting it was a boom. In fact, the spin from the BBC at the time was that if you weren't throwing your life savings into property, then you were a fool.

Or do the BBC think we have such short memories that we won't remember their massive spin at the time, and their complete misrepresentation of their take on things then compared to what they are saying now?

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The Cube in Birmingham was split into two “sides“, one for investors and one for owner occupiers. This who bought on the owner occupier side had contractual clauses preventing them for renting the apartments out. The idea being that having a permanent resident base in the occupier side would help develop the sense of community. At present I believe there are still apartments available in both sides. Rosie Dyer who started the Facebook group bought in the investor side not the owner occupier side. Therefore anywhere she describes it as a “home” etc seems a bit misleading. She bought it as an investment. In fact, let me correct that, she took on huge debt making it a very leveraged investment. It went wrong. She doesn’t want to take the downside. Sorry but she has too, as do all others. If she bought on the owner occupier side I would have more (but still little) sympathy.

If she has no assets and no surplus income, then it will be the developer on the other side of the contract that will suffer the downside.

I dont have a problem with that either.

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Marketed as a "glittering jewellery box"

More reminiscent of lots of Soviet blocks of flats and not a little resemblance to that government building in Moscow after being shelled by tanks during Yeltsin's time.

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  • 312 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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