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North South Divide ... Or Borrowing 12X Income


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Haircuts are a very good example....in London once on a mad spur of the regretful moment paid £60 for a wash and cut...ok the chair I was sitting in was fancy, so were the mirrors and the wash was a wash come head massage with smelly hair products that were supposed to be something extra special, but the only thing special about them was the price imo.......now I can get a perfectly good haircut, with good friendly service that when I walk away I do not feel ripped off and cheated for £13.....I of course leave a tip. ;)

I had a haircut at that Vidal Sasoon place on Cheapside in the big smoke more than 10years ago... it was the only place open when after I left my office in the evening and was supposed to be meeting a client the next day.

Short back and sides cost me £70, told the lass I didn't carry that kind of cash around with me but it was ok as they took credit cards

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It looks like a bit of MEWing and an overestimate of how much the house is worth.

If Zoopla is correct about the last sales date and the price paid, which I suspect it is,

There's 4 pages of readers comments on the Daily Mail story. First page I've read people are not looking at it from the perspective she has owned the house for many years and should have lots of equity.

Unless she took on a mortgage or MEW to buy her ex out in a divorce deal, because those aren't Andrew Sewell's children. Or she could be widowed and just have MEWed the money. Either way they are in a situation of their own making and don't deserve sympathy. £200,000 paid in 1998. She still thinks house prices are going to go up despite her valuing it at 3 times that amount 13 years later.

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I had a haircut at that Vidal Sasoon place on Cheapside in the big smoke more than 10years ago... it was the only place open when after I left my office in the evening and was supposed to be meeting a client the next day.

Short back and sides cost me £70, told the lass I didn't carry that kind of cash around with me but it was ok as they took credit cards

I take it you saw to it that you paid no more than £70......putting it on credit for even a short period of time will bump the price up even further. :o

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Bought for £200k in 1998. lol

Article should be the other way round. "Tossers in South gifted £350k for doing f*ck all, just by dint of birth and government policies"

...some earn £350k for doing f*ck all, some were born in East Africa. ;)

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Move. Away. From. London. And. The. South. East

MAFLATSE

I'm surprised that southern couple only earn 50k between them. Surely that's after tax or some other thing, they just look richer than me, but me and my wife bring in nearer 60k. Maybe I'm just naturally scruffy or something.

Actually the northern couple look better off than me as well, maybe other people are just good at scrubbing up - my son is usually covered in snot and at the moment i have white emulsion in my hair, nathan barley stylee

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Move. Away. From. London. And. The. South. East

MAFLATSE

I'm surprised that southern couple only earn 50k between them. Surely that's after tax or some other thing, they just look richer than me, but me and my wife bring in nearer 60k. Maybe I'm just naturally scruffy or something.

Actually the northern couple look better off than me as well, maybe other people are just good at scrubbing up - my son is usually covered in snot and at the moment i have white emulsion in my hair, nathan barley stylee

MAFLATSE

(Move Away From London And The South East)

Plenty of land elsewhere in the uk

Parliament should be shifted to York or something to stop the imbalance in this country. All decent countries have separate political and business capitals

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Move. Away. From. London. And. The. South. East

MAFLATSE

I'm surprised that southern couple only earn 50k between them. Surely that's after tax or some other thing, they just look richer than me, but me and my wife bring in nearer 60k. Maybe I'm just naturally scruffy or something.

...

You obviously haven't MEWed enough...

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Would be very interesting to understand re family in the south how much money they borrowed to fund their "£600,000" house. would love to know how much they really paid for it & also whether they took out additional loans against it....

Im making an assumption that their take home pay is around £3200 a month?

40% of £3200 is £1280.

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Would be very interesting to understand re family in the south how much money they borrowed to fund their "£600,000" house. would love to know how much they really paid for it & also whether they took out additional loans against it....

Im making an assumption that their take home pay is around £3200 a month?

40% of £3200 is £1280.

Maybe the MEWed to buy a BTL....they could move into that. ;)

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I must READ all postings in a thread before responding,

I must READ all postings in a thread before responding,

I must READ all postings in a thread before responding,

They deserve no sympathy

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Try Zoopla :

http://www.zoopla.co.uk/home-values/wonersh/blackheath-lane/gu5-0pn/?q=GU5%200PN

It looks like a bit of MEWing and an overestimate of how much the house is worth.

That explains it. They paid £200k for the house, and sound as if they have a mortgage of about £400k 13 years later. :o

I thought something didn't add up when they were talking about their 'old' lifestyle. A 50k joint income isn't bad, but it is in no way the type of level that allows your daughter to have a horse, £250 weekly grocery shopping, 3 annual holidays, and all of the rest of it! Even the Passat 'R36' in the photo will be on tick - it is a £35k car and much more than the company car allowance of a c.£30k salary would allow.

I'd be interested to know how many in the SE are in this type of position. I don't live a million miles from this couple, and there are legions of couples earning £100k+ between them and living in £300k flats, and they certainly don't feel 'rich'. Why do people earning half that feel the need to buy a much bigger house and then leverage it as much as possible?

The tragedy is that these people had the opportunity to do it properly - buy a nice family house in a good are of the SE for £200k. This is something that people ten years their junior are never likely to have. They could have paid their mortgage off very easily and still have had a nice lifestyle.

Instead, they can't afford to heat their house in their 40's, and that is before interest rates go up or one of them loses their job. Sad.

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That explains it. They paid £200k for the house, and sound as if they have a mortgage of about £400k 13 years later. :o

I thought something didn't add up when they were talking about their 'old' lifestyle. A 50k joint income isn't bad, but it is in no way the type of level that allows your daughter to have a horse, £250 weekly grocery shopping, 3 annual holidays, and all of the rest of it! Even the Passat 'R36' in the photo will be on tick - it is a £35k car and much more than the company car allowance of a c.£30k salary would allow.

I'd be interested to know how many in the SE are in this type of position. I don't live a million miles from this couple, and there are legions of couples earning £100k+ between them and living in £300k flats, and they certainly don't feel 'rich'. Why do people earning half that feel the need to buy a much bigger house and then leverage it as much as possible?

The tragedy is that these people had the opportunity to do it properly - buy a nice family house in a good are of the SE for £200k. This is something that people ten years their junior are never likely to have. They could have paid their mortgage off very easily and still have had a nice lifestyle.

Instead, they can't afford to heat their house in their 40's, and that is before interest rates go up or one of them loses their job. Sad.

There are a few living on the edge...living off hopeful future earnings....it won't take much to push them over the edge, their choice.....the way they choose to live their lives they are definitely not supporters of deferred gratification.... ;)

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In all the top rated comments not one mention that house prices were too expensive, mainly that they are lucky to earn £50k.

Exactly - a £50,000 salary in North East must be pretty rare. So massively biased report. Median salary must be below £20,000 up there by now so he's earning at least double or more.

As prices fall in chunks of a percentage - 20% fall off £600,000 ouch.

It's also masonic puppetry

'Andrew'

60hrs

both salaries £50,000 (5 means 'windows')

Is that a 'Scotty' dog ( the 'diehard' - Monopoly dog?)

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In all the top rated comments not one mention that house prices were too expensive, mainly that they are lucky to earn £50k.

When you see this, you also see why house prices are so high. Banks willing to lend reckelessly, and borrowers willing to take on the debt to bid the price up so high.

That certainly explains some of it.

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The tragedy is that these people had the opportunity to do it properly - buy a nice family house in a good are of the SE for £200k. This is something that people ten years their junior are never likely to have. They could have paid their mortgage off very easily and still have had a nice lifestyle.

Instead, they can't afford to heat their house in their 40's, and that is before interest rates go up or one of them loses their job. Sad.

There is a high likelihood that she kept the house after a divorce and had to mortgage it to pay off her ex husband. Unless she was widowed. I like to imagine her ex husband now in rented flat waiting for the crash. Her new guy is only 41. Estimated house value £600,000 and she says a big mortgage too.

Josh, 17, and 15-year-old Incy — Melanie's children from a previous relationship — are doing their bit by cutting back on hobbies.

electoralrollsearchresu.jpg

The above is definitely the newspaper house because the pics match up on streetview. On the electoral roll there's another house in the very same name, 14 miles way. Average looking £200K type box house on streetview. Thought it might be a BTL but I think it's her parents house because I did an all dates historical search and it's not got any sales history for it on nethouseprices.

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... well that's what has happened in the past until the banks stopped lending.

...the banks are lending ...but there is no funny money ...that will return in a future when all this has been forgotten ...and another little Gordon Clown comes on the scene to save the country and then the world with his idea of economics..... :rolleyes:

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Exactly - a £50,000 salary in North East must be pretty rare. So massively biased report. Median salary must be below £20,000 up there by now so he's earning at least double or more.

As prices fall in chunks of a percentage - 20% fall off £600,000 ouch.

It's also masonic puppetry

'Andrew'

60hrs

both salaries £50,000 (5 means 'windows')

Is that a 'Scotty' dog ( the 'diehard' - Monopoly dog?)

...it's a household income in the NE....not one salary....just like the other lot.. :rolleyes:

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If someone is willing to pay the £4 then its is possible to get the details of both the mortgagees and when the last charge was registered on the property from land registry records.

This should confirm whether or not they have MEWED as the charge will be dated after the last sold price data.

https://www.landregistry.gov.uk/wps/portal/Property_Search

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If someone is willing to pay the £4 then its is possible to get the details of both the mortgagees and when the last charge was registered on the property from land registry records.

This should confirm whether or not they have MEWED as the charge will be dated after the last sold price data.

https://www.landregistry.gov.uk/wps/portal/Property_Search

...who do you work for....?.... :rolleyes:

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There is a high likelihood that she kept the house after a divorce and had to mortgage it to pay off her ex husband. Unless she was widowed. I like to imagine her ex husband now in rented flat waiting for the crash. Her new guy is only 41. Estimated house value £600,000 and she says a big mortgage too.

electoralrollsearchresu.jpg

The above is definitely the newspaper house because the pics match up on streetview. On the electoral roll there's another house in the very same name, 14 miles way. Average looking £200K type box house on streetview. Thought it might be a BTL but I think it's her parents house because I did an all dates historical search and it's not got any sales history for it on nethouseprices.

Nice work.

What a car crash.

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  • 433 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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