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I am becoming more and more FURIOUS and at the same time astounded at our PATHETIC government’s lack of forward thinking and outright discrimination against first time buyers. (timesonline)

It is grossly unfair that the gvt is taking measures to ensure that wealthy taxpayers will be allowed to buy houses at massive discounts (effectively over 50% of the price paid) while first-time buyers have to pay MORE than everyone else making buying a house more and more difficult for them. thisismoney

This is effectively taking from the poor to give to the rich.

Is this not a REAL infringement of the “Human rights” everyone holds in such “high regard” (to the point of allowing children too young to be aware of their responsibilities to run riot in our schools depriving others and themselves of a good education, and imprisoning those who try to defend themselves and their property against violent criminals)

Let’s see what will happen… FTB cannot afford to buy until a huge deposit has been saved, pushing up the average age of buying a (tiny) property to over 40 yrs old. By retirement age most will not have paid off their mortgages, and will not be able to continue to afford repayments on their meagre pensions. Or, they will never have bought, and rented all their lives, which they will no longer be able to afford to do. The number of spongers will have increased since their breeding was encouraged by further hairbrained benefit policies. There will be millions of homeless people who will be looking to the government for housing (and state pensions, since so few had taken out policies)….. Then what????

(Sorry if this seems repetitive of previous threads but I had to let my frustrations out!!!!!!)

:angry: :angry: :angry: :(:(:( :angry: :angry: :angry:

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I am becoming more and more FURIOUS and at the same time astounded at our PATHETIC government’s lack of forward thinking and outright discrimination against first time buyers. (timesonline)

It is grossly unfair that the gvt is taking measures to ensure that wealthy taxpayers will be allowed to buy houses at massive discounts (effectively over 50% of the price paid) while first-time buyers have to pay MORE than everyone else making buying a house more and more difficult for them. thisismoney

This is effectively taking from the poor to give to the rich.

Is this not a REAL infringement of the “Human rights” everyone holds in such “high regard” (to the point of allowing children too young to be aware of their responsibilities to run riot in our schools depriving others and themselves of a good education, and imprisoning those who try to defend themselves and their property against violent criminals)

Let’s see what will happen… FTB cannot afford to buy until a huge deposit has been saved, pushing up the average age of buying a (tiny) property to over 40 yrs old. By retirement age most will not have paid off their mortgages, and will not be able to continue to afford repayments on their meagre pensions. Or, they will never have bought, and rented all their lives, which they will no longer be able to afford to do. The number of spongers will have increased since their breeding was encouraged by further hairbrained benefit policies. There will be millions of homeless people who will be looking to the government for housing (and state pensions, since so few had taken out policies)….. Then what????

(Sorry if this seems repetitive of previous threads but I had to let my frustrations out!!!!!!)

:angry: :angry: :angry: :(:(:( :angry: :angry: :angry:

SIPPS holders get their 40% discount whether they buy a house or not. On that basis, everything they invest in is "40% off". So the headlines about being able to buy a discounted house are very misleading.

Edited by Casual Observer

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I am becoming more and more FURIOUS and at the same time astounded at our PATHETIC government’s lack of forward thinking and outright discrimination against first time buyers. (timesonline)

It is grossly unfair that the gvt is taking measures to ensure that wealthy taxpayers will be allowed to buy houses at massive discounts (effectively over 50% of the price paid) while first-time buyers have to pay MORE than everyone else making buying a house more and more difficult for them. thisismoney

This is effectively taking from the poor to give to the rich.

Is this not a REAL infringement of the “Human rights” everyone holds in such “high regard” (to the point of allowing children too young to be aware of their responsibilities to run riot in our schools depriving others and themselves of a good education, and imprisoning those who try to defend themselves and their property against violent criminals)

Let’s see what will happen… FTB cannot afford to buy until a huge deposit has been saved, pushing up the average age of buying a (tiny) property to over 40 yrs old. By retirement age most will not have paid off their mortgages, and will not be able to continue to afford repayments on their meagre pensions. Or, they will never have bought, and rented all their lives, which they will no longer be able to afford to do. The number of spongers will have increased since their breeding was encouraged by further hairbrained benefit policies. There will be millions of homeless people who will be looking to the government for housing (and state pensions, since so few had taken out policies)….. Then what????

(Sorry if this seems repetitive of previous threads but I had to let my frustrations out!!!!!!)

:angry: :angry: :angry: :(:(:( :angry: :angry: :angry:

This relates to SIPPS - whilst in theory it looks like a no brainer. Insurance and Pension companies are complaining about this and the general concensus is - Its a bad move!!! There is a link on this board somewhere about it. Might be an idea to start a thread - What is SIPPS and is it a threat to the FTB?

Im sure Dr. Bubb and co will know a lot more about this - but from what snippets I have read only a fool would release their pension to property at the moment. Problem is we have a world full of dickheads :blink:

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This relates to SIPPS - whilst in theory it looks like a no brainer. Insurance and Pension companies are complaining about this and the general concensus is - Its a bad move!!! There is a link on this board somewhere about it. Might be an idea to start a thread - What is SIPPS and is it a threat to the FTB?

Im sure Dr. Bubb and co will know a lot more about this - but from what snippets I have read only a fool would release their pension to property at the moment. Problem is we have a world full of dickheads :blink:

All due respect but we have talked about SIPPS so many times, its been debunked so many times, instead of people just whinning about it why dont they go and look up the details of a SIPP then get back to us with there new found wisdom, i have done , alot of people have done and we have discussed it. If you would like to bring up a single point about SIPPS then go for it and we can all talk about it.

Teddyboy ive quoted you but it is not solely directed at you, its anyone who ever thinks SIPPS will save the day, look into it first.

http://www.housepricecrash.co.uk/forum/ind...wtopic=9201&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=10683&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=10471&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=10983&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=11135&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=13035&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=13024&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=13086&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=12858&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=12691&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=11598&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=10695&hl=

http://www.housepricecrash.co.uk/forum/ind...topic=10671&hl= :)

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SIPPS holders get their 40% discount whether they buy a house or not. On that basis, everything they invest in is "40% off". So the headlines about being able to buy a discounted house are very misleading.

:huh: I admit I am a little naive in some of these things, but the point is that this is a step to favour the wealthy and disempower the ordinary person made by the gvt, isn't it?

It also sounds as if thousands of twits will be wanting to jump on the housing bandwagon (what are the chances that this is just more spin?) But if they do, won't it push the prices up again?

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This is effectively taking from the poor to give to the rich.

...But the labour party have been doing this consistently for the last eight years anyway! T Blair and G Brown have distributed wealth to those already wealthy more than Thatcher ever dreamed of. SIPPS is just another chapter in the same book.

VP

Edited by VacantPossession

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...But the labour party have been doing this consistently for the last eight years anyway! T Blair and G Brown have distributed wealth to those already wealthy more than Thatcher ever dreamed of. SIPPS is just another chapter in the same book.

VP

...and if this continues they'll end up crippling themselves with all the benefits they will have to pay out to those they have taken from and made poorer and poorer!

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Teddyboy ive quoted you but it is not solely directed at you, its anyone who ever thinks SIPPS will save the day, look into it first.

No offence taken mate. I agree though there are so many threads on this board lately we do need to keep them better organised. Did not want to promote a messy forum :rolleyes:

Thanks for the links though - can read them myself now ;)

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No offence taken mate. I agree though there are so many threads on this board lately we do need to keep them better organised. Did not want to promote a messy forum :rolleyes:

Thanks for the links though - can read them myself now ;)

Those links are maybe a little out of date now, at one point we were talking about it that much i saved a txt file to my desktop with a collection of SIPP links :)

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Pensions firms might invest in property anyhow so you might have no choice... Brown is obviously going to push these Property SIPPs in the hope of averting a crash long enough to get himself into No. 10 IMPO. I think, by next April though, we will already be seeing serious signs of a BIG HP crash.

...But the labour party have been doing this consistently for the last eight years anyway! T Blair and G Brown have distributed wealth to those already wealthy more than Thatcher ever dreamed of. SIPPS is just another chapter in the same book.

Aneurin Bevan and Manny Shinwell must be looking down with disgust! Genuine, decent hard working British people have been pushed aside in favour of the cocaine addicted Meedja luvvies, the foreign businessmen who outsource British jobs overseas, etc, etc, IMPO.

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It is grossly unfair that the gvt is taking measures to ensure that wealthy taxpayers will be allowed to buy houses at massive discounts (effectively over 50% of the price paid) while first-time buyers have to pay MORE than everyone else making buying a house more and more difficult for them. thisismoney

Fortunately, the changes to SIPPs will not allow wealthy taxpayers to buy houses at big discounts. They will allow their pension funds to buy houses at no discount. It's true that the taxpayers will receive tax relief on the money they put into their pension funds, as at present, but they won't end up owning any extra houses. A person and their pension fund are two different legal entities.

:huh: I admit I am a little naive in some of these things, but the point is that this is a step to favour the wealthy and disempower the ordinary person made by the gvt, isn't it?

No, it's a step to encourage people to save money in their pensions. Remember, they're also introducing a limit of £1.5 million on the amount of money you can have in your pension fund, which is a massive move against the wealthy and in favour or ordinary people. £1.5 million may sound like a lot, but if you're 40 now, you're going to need at least that much in your pension at age 65 in order to have a decent income in retirement. If we assume that salaries will rise by 4% per year over the next 25 years, that you want your pension to keep up with salaries rather than just inflation, and that you can get a 4% index-linked yield on your pension fund when you retire, then £1.5 million in 25 years will give you a pension of about £22,500 per year in today's terms -- and that will be taxable. A wealthy 40-year-old would be aiming for more like £10 million in their pension fund at age 65 -- and they won't be allowed to do it.

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No, it's a step to encourage people to save money in their pensions. Remember, they're also introducing a limit of £1.5 million on the amount of money you can have in your pension fund, which is a massive move against the wealthy and in favour or ordinary people. £1.5 million may sound like a lot, but if you're 40 now, you're going to need at least that much in your pension at age 65 in order to have a decent income in retirement. If we assume that salaries will rise by 4% per year over the next 25 years, that you want your pension to keep up with salaries rather than just inflation, and that you can get a 4% index-linked yield on your pension fund when you retire, then £1.5 million in 25 years will give you a pension of about £22,500 per year in today's terms -- and that will be taxable. A wealthy 40-year-old would be aiming for more like £10 million in their pension fund at age 65 -- and they won't be allowed to do it.

I am in no way a bleeding heart socialist, but let's call a spade a spade here; a 1.5 million limit isn't a 'move against the wealthy', it's a move against the rich (who are probably indulging in some 'tax engineering' to want that much money in a pension account anyway).

You are also assuming that the limit will be fixed for the next 25 years, which I think is extremely unlikely. One way or another the limit will get increased, admittedly probably in line with CPI rather than wages.

In Australia, which is not a poor country, the Reasonable Benefit Limit is less than 500,000 UK pounds, and to get that limit you have to take at least 50% of your benefit in the form of a complying pension (basically a non-commutable annuity with zero residual although you can have spouse reversion). Otherwise the RBL is 250,000 UK pounds. Anything over the RBL is taxed at the maximum marginal tax rate (47% at present).

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I am in no way a bleeding heart socialist, but let's call a spade a spade here; a 1.5 million limit isn't a 'move against the wealthy', it's a move against the rich (who are probably indulging in some 'tax engineering' to want that much money in a pension account anyway).

You are also assuming that the limit will be fixed for the next 25 years, which I think is extremely unlikely. One way or another the limit will get increased, admittedly probably in line with CPI rather than wages.

In Australia, which is not a poor country, the Reasonable Benefit Limit is less than 500,000 UK pounds, and to get that limit you have to take at least 50% of your benefit in the form of a complying pension (basically a non-commutable annuity with zero residual although you can have spouse reversion). Otherwise the RBL is 250,000 UK pounds. Anything over the RBL is taxed at the maximum marginal tax rate (47% at present).

A 1.5 million pension wil buy you a pension of about £75k if you retire at 65. I know that's a helathy pension, but it's not exactly a king's ransom

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  • 301 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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