Jump to content
House Price Crash Forum
Sign in to follow this  
five alive

Reply From My M.p Re Sipps

Recommended Posts

I had a reply back today from my local m.p Christopher Chope (conservative) to a letter i sent last week regarding my concerns with the sipps scheme

Dear Mr Phillips

Thank you for your letter dated 24th october about the likely consequences for first tome buyers of the Goverments proposals to allow second homes to be included in pension plans.

I have written to the Chancellor of the exchequer seeking his comments upon the pertinent points which you make

Yours sincerely

Christopher Chope

All in all a pretty positive reply in my mind,i think that there are many mps out there who are appaled with the idea of sipps so if you feel strongly join the rest of our merry band who have written to show their concerns it may help make a difference

Share this post


Link to post
Share on other sites

I had a reply back today from my local m.p Christopher Chope (conservative) to a letter i sent last week regarding my concerns with the sipps scheme

Dear Mr Phillips

Thank you for your letter dated 24th october about the likely consequences for first tome buyers of the Goverments proposals to allow second homes to be included in pension plans.

I have written to the Chancellor of the exchequer seeking his comments upon the pertinent points which you make

Yours sincerely

Christopher Chope

All in all a pretty positive reply in my mind,i think that there are many mps out there who are appaled with the idea of sipps so if you feel strongly join the rest of our merry band who have written to show their concerns it may help make a difference

Well good for you. I can't believe that none of the other regulars have replied to this thread, but believe it I must.

Please make sure that if he replies again that you post the result here! It wouldbe great to see what Gordon Brown spins us about your points.

Thanks for taking the time to write to your MP (and post the reply) about SIPPS. I appreciate it!

Share this post


Link to post
Share on other sites

Well good for you. I can't believe that none of the other regulars have replied to this thread, but believe it I must.

Please make sure that if he replies again that you post the result here! It wouldbe great to see what Gordon Brown spins us about your points.

Thanks for taking the time to write to your MP (and post the reply) about SIPPS. I appreciate it!

I'm confused - I thought that the view of this site (and by implication the views of most of it's followers) was that SIPP's would have no effect of HP's next April? Personally I have always felt the opposite (I'm not saying I think that what will happen is necessarily a good thing) because as soon as you give people a tax break they will use it. BTW did you also ask your MP if he had any plans to invest in property next April?

Edited by nodumsunreader

Share this post


Link to post
Share on other sites

Personally I would have read that as:

I have passed the buck and not expressed an opinion of any sort to you. You should not expect any further reply.

Yours sincerely & please don't cause us to waste anymore stationary.

MP

I'm confused - I thought that the view of this site (and by implication the views of most of it's followers) was that SIPP's would have no effect of HP's next April? Personally I have always felt the opposite (I'm not saying I think that what will happen is necessarily a good thing) because as soon as you give people a tax break they will use it. BTW did you also ask your MP if he had any plans to invest in property next April?

Funny isn't it. On this site, strange this happen. For one, there is no impact from lower IR's, but amazingly on the other hand, higher IR's have an impact.

There are many more contradictions like these.

Share this post


Link to post
Share on other sites

Funny isn't it. On this site, strange this happen. For one, there is no impact from lower IR's, but amazingly on the other hand, higher IR's have an impact.

The theory behind that is that with debt (in theory) maxed out, lowering interest rates is immaterial as people cannot support more debt - however raising interest rates will cause a house of cards effect - because everyone is maxed out on debt and the increase in IR's will cripple them.

Whether this is true or just another of the site fantasies will only be discovered if IR's change.

Share this post


Link to post
Share on other sites

While SIPPS may have little or no effect, of ALL the people we know either still considering becoming FTBs or at least just casually looking now prices have fallen a little, Estate Agents have beeen using SIPPs to stoke up fear, no, outright terror.

During the boom EAs have used fear-tactics to sell crap overpriced junk to terrified FTBs - 'You'll miss the boat', 'Will you be able to afford it when it's 20% high next year!', 'You have to make an offer straight away as everything goes in 5 minutes!'

'Buy before SIPPs, before it's too late!'

Now doubt many FTBs across the land will have been bamboozled into rash purchases by this approach.

This is why SIPPs is important.

Share this post


Link to post
Share on other sites

I'm confused - I thought that the view of this site (and by implication the views of most of it's followers) was that SIPP's would have no effect of HP's next April? Personally I have always felt the opposite (I'm not saying I think that what will happen is necessarily a good thing) because as soon as you give people a tax break they will use it. BTW did you also ask your MP if he had any plans to invest in property next April?

I wrote to my m.p because i believe that the sipp regulations are socialy damaging NOT because i am concerned that it will stop the adjustment that will occur in the housing market.I have two children who at this point have no chance of getting on the ladder and i view sipps as yet another hurdle they will have to climb to attain any chance of them owning a property.No i did not ask my m.p if he had plans to invest that i thought would not help my case.Personaly i think there is a very good chance that sipps may indeed not last the course and the more people that show their concerns the more chance we have of de-railing it.

Share this post


Link to post
Share on other sites

I wrote to my MP and the Treasury team 2 weeks ago but still no reply. They've probably agreed with me and are drafting a change to the budget and its therefore taking a little time to get back to me!

Share this post


Link to post
Share on other sites

Personally I would have read that as:

I have passed the buck and not expressed an opinion of any sort to you. You should not expect any further reply.

Yours sincerely & please don't cause us to waste anymore stationary.

MP

Funny isn't it. On this site, strange this happen. For one, there is no impact from lower IR's, but amazingly on the other hand, higher IR's have an impact.

There are many more contradictions like these.

I tend to agree with this, even though I disagree with TTRTR's general views on property.

I'm not so sure that the contradictions comment is fair though. True if one person says both things, but if two people say two things then it's debate, not contradiction.

Share this post


Link to post
Share on other sites

Personally I would have read that as:

I have passed the buck and not expressed an opinion of any sort to you. You should not expect any further reply.

Yours sincerely & please don't cause us to waste anymore stationary.

MP

Funny isn't it. On this site, strange this happen. For one, there is no impact from lower IR's, but amazingly on the other hand, higher IR's have an impact.

There are many more contradictions like these.

Sigh. But I will be amazed if we hear any more from the MP.

:rolleyes:

Share this post


Link to post
Share on other sites

I'm confused - I thought that the view of this site (and by implication the views of most of it's followers) was that SIPP's would have no effect of HP's next April?

Ever heard of having principles?

No, I didn't think so :rolleyes:

Share this post


Link to post
Share on other sites

Sigh. But I will be amazed if we hear any more from the MP.

:rolleyes:

I have written to him many years ago to help a situation that my family found itself in, again his reply was prompt and was very congenial during his surgery after approx 6 weeks the matter being discussed was resolved.Without his help we would have been stuffed,so whilst i dont expect him to wave a miracle wand i am happy that he will represent my views in any way he can and keep me informed

Share this post


Link to post
Share on other sites

I'm confused - I thought that the view of this site (and by implication the views of most of it's followers) was that SIPP's would have no effect of HP's next April? Personally I have always felt the opposite (I'm not saying I think that what will happen is necessarily a good thing) because as soon as you give people a tax break they will use it. BTW did you also ask your MP if he had any plans to invest in property next April?

SIPPs will have some effect, it's just that most of the bears here think that it will in most areas be marginal. Of course in some holiday type areas it could be quite intense and so a Labour measure to help the rich outbid the poor is a legitimate matter of concern.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 333 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.