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PopGun

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Bit the bullet, sold at asking price.

Modest profit fund for which I’m trying to find the nearest saving account away from fook all interest to stash it in.

If the crash doesn’t happen in the next 12 months, it won’t ever*. I’ll then be evaluating my position.

 

*nb said this in 2011, 2014, 2016.. brexit could be the final straw

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It might.  It might not.  If we get a new govt, then yes, if May ploughs on until 2020 I think we continue to live in suspended animation for up to two years, and then the final Brexit deal plus BTL tax changes plus general economic weakening should be enough to tip us into another sharp price decline aka 2009.

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18 minutes ago, ElPapasito said:

It might.  It might not.  If we get a new govt, then yes, if May ploughs on until 2020 I think we continue to live in suspended animation for up to two years, and then the final Brexit deal plus BTL tax changes plus general economic weakening should be enough to tip us into another sharp price decline aka 2009.

I can’t think what other props can be conjured to maintain prices.

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18 minutes ago, PopGun said:

I can’t think what other props can be conjured to maintain prices.

Neither can I, but the market can remain irrational longer than you can stay solvent. Trying to time exactly when it's going to go **** over tit is a fools errand IMO.

How much of a fall do you need to cover your transaction costs from selling and buying, and the rent you'll pay between transactions? 

Edited by anonlymouse

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2 hours ago, PopGun said:

Bit the bullet, sold at asking price.

Modest profit fund for which I’m trying to find the nearest saving account away from fook all interest to stash it in.

If the crash doesn’t happen in the next 12 months, it won’t ever*. I’ll then be evaluating my position.

 

*nb said this in 2011, 2014, 2016.. brexit could be the final straw

So it'll be Brexit which means one less layer of incompetent bureaucrats dictating our lives and not the fact we've had artificial growth for the last few years (HTB,FFL,TFS, 0.25%) and are approaching peak debt.

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11 minutes ago, anonlymouse said:

Neither can I, but the market can remain irrational longer than you can stay solvent. Trying to time exactly when it's going to go **** over tit is a fools errand IMO.

How much of a fall do you need to cover your transaction costs from selling and buying, and the rent you'll pay between transactions? 

You pay the selling part regardless.. if you were selling your house to buy back the exact same house then yes include selling/buying fees..

if you want to move like I did as I had a 2 bed flat and 3 kids then the only loss is the rent part.. 1 year ago.. so I’m 15k in the hole.. just paid this years rent upfront so I will be 30k in the hole by this time next year..

really need this year to be our last of renting though.. im paying the rent from my wages but not moving forward is frustrating.. the gap from my flat to a house was 170k was too much to take on.. 

there is no future renting.. just homelessness awaits..

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Do you mind if I ask how much the house you're renting would sell for? 

After so many years of skrimping and saving a deposit and dealing with ******** from landlords I'm struggling to comprehend why anyone would a) be willing to deal with that again and B) gamble against the risk that fails may not outpace rents.

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3 hours ago, anonlymouse said:

Neither can I, but the market can remain irrational longer than you can stay solvent. Trying to time exactly when it's going to go **** over tit is a fools errand IMO.

How much of a fall do you need to cover your transaction costs from selling and buying, and the rent you'll pay between transactions? 

Interesting:

**** gets starred out

TIT doesn't

I would say they have approximately equal rudeness.  The internet censor is CRAP.

(Edit.  Apparently that isn't rude enough either.)

Edited by ElPapasito

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15 hours ago, anonlymouse said:

Do you mind if I ask how much the house you're renting would sell for? 

After so many years of skrimping and saving a deposit and dealing with ******** from landlords I'm struggling to comprehend why anyone would a) be willing to deal with that again and B) gamble against the risk that fails may not outpace rents.

I’m moving into my partners house, so pooling resources I’m making a contribution to bills etc but this enables us both to save a hell of a lot more than if we’re running two houses. Plus I was rattling around by my self in a starter family home which IMO was a bit of a waste. Now a young family have a home and will maximise the use of it.

Also in effect spreading the risk. I’ll return to the market when it offers decent value.

Oh and I had a condition instructed to the Estate Agent: No landlords or investors..

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5 hours ago, PopGun said:

Oh and I had a condition instructed to the Estate Agent: No landlords or investors..

That's interesting...how did they respond to that...?

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19 hours ago, ElPapasito said:

Interesting:

**** gets starred out

TIT doesn't

I would say they have approximately equal rudeness.  The internet censor is CRAP.

(Edit.  Apparently that isn't rude enough either.)

Tit is a type of bird. But then again **** is male fowl and bitch is a female dog. They are all legitimate words but some get censored. We may have to get used to "rooster" - I've noticed it creeping in. 

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6 hours ago, PopGun said:

I’m moving into my partners house, so pooling resources I’m making a contribution to bills etc but this enables us both to save a hell of a lot more than if we’re running two houses. Plus I was rattling around by my self in a starter family home which IMO was a bit of a waste. Now a young family have a home and will maximise the use of it.

Also in effect spreading the risk. I’ll return to the market when it offers decent value.

Oh and I had a condition instructed to the Estate Agent: No landlords or investors..

Fair play to you.

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50 minutes ago, Wayward said:

That's interesting...how did they respond to that...?

A bit surprised to say the least. Said it would be unwise to rule out but then reckoned plenty of families wanting a home in the area. 

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3 minutes ago, Sancho Panza said:

 

Fair play to you.

I just couldnt stand by what I say on here and elsewhere and take their money. Rather it stayed a home. 

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I have heard a lot of anecdotal stories both on this forum and off it where similar instructions where given not to sell to landlords only for a landlord to pull the wool other the sellers eyes and sneak their way in.

Still, kudos for your stance though.

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On Monday, December 18, 2017 at 2:29 PM, macca13 said:

<snip> 2  bed flat and 3 kids then  the only loss is the rent part.. 1 year ago.. so I’m 15k in the hole.. just paid this years rent upfront so I will be 30k in the hole by this time next year..

really need this year to be our last of renting though.. im paying the rent from my wages but not moving forward is frustrating.. the gap from my flat to a house was 170k was too much to take on.. 

there is no future renting.. just homelessness awaits..

If you do the maths on an extra £170k borrowing at SVR 4.5% then the Interest only is £637 a month before capital repayment is added.  So the difference between renting and buying is that. 

ItSi intereSting how many don't Factor in the "rent to the bank".

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40 minutes ago, hp72 said:

If you do the maths on an extra £170k borrowing at SVR 4.5% then the Interest only is £637 a month before capital repayment is added.  So the difference between renting and buying is that. 

ItSi intereSting how many don't Factor in the "rent to the bank".

Why would you be borrowing at SVR. A more realistic rate is prob 2.5%

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On 12/18/2017 at 11:15 AM, PopGun said:

Bit the bullet, sold at asking price.

Modest profit fund for which I’m trying to find the nearest saving account away from fook all interest to stash it in.

If the crash doesn’t happen in the next 12 months, it won’t ever*. I’ll then be evaluating my position.

 

*nb said this in 2011, 2014, 2016.. brexit could be the final straw

Out of interest when did you buy and at what price ? what did you sell for ? where in the country?

I'm just interested because I contemplated doing the same but prices were ramping up so quickly we decided to take the plunge and upsize extra £70k on the mortgage. we've paid £10k off that now and my other half's pay rise mean we are bellow 4x joint income... In retrospect we would have been better waiting but its always a gamble, Hope yours pays off !!

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1 hour ago, long time lurking said:

The return of MIRA`s ....how do the saying go where the US goes we follow 

Yep.....

HTB 3

Govt backed fixed rate for term mortgages (already out there in the USA)

Increased immigration from EU and non EU

12 month income tax rebate upon exchange of contracts (I think the USA also did something like this)

 

Sadly there's literally no end of handouts a govt could conjure up.

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  • 406 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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