Trump Invective Posted October 3, 2018 Share Posted October 3, 2018 https://www.theguardian.com/uk-news/2018/oct/03/bankers-wife-may-lose-property-worth-millions-after-uk-court-ruling Diddums Quote Link to comment Share on other sites More sharing options...
Tapori Posted October 3, 2018 Share Posted October 3, 2018 Let's hope the new source of assets laws catch up with the Sharif family and Mr. Dar. Quote Link to comment Share on other sites More sharing options...
jonb2 Posted October 3, 2018 Share Posted October 3, 2018 2 minutes ago, Tapori said: Let's hope the new source of assets laws catch up with the Sharif family and Mr. Dar. Just a few grand into the Tory coffers will make sure they don't suffer. Quote Link to comment Share on other sites More sharing options...
JustAnotherProle Posted October 3, 2018 Share Posted October 3, 2018 Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 3, 2018 Share Posted October 3, 2018 (edited) 1 hour ago, Tapori said: Let's hope the new source of assets laws catch up with the Sharif family and Mr. Dar. You don’t have a clue the problem with South Asia is the amount of money and time they waste on religious ceremonies it is easy to blame corrupt politicians than admit the real problem the whole world is corrupt your country is not any different Edited October 3, 2018 by prozac Quote Link to comment Share on other sites More sharing options...
Guest Posted October 4, 2018 Share Posted October 4, 2018 The one token gesture case and then that will be it, how about all those dodgy Russians? London is swamped with dirty money Quote Link to comment Share on other sites More sharing options...
Lenelby Posted October 4, 2018 Share Posted October 4, 2018 1 hour ago, inbruges said: The one token gesture case and then that will be it, how about all those dodgy Russians? London is swamped with dirty money It seems to me in this case the husband has already been convicted of corruption in his own country. Most Russians seem to do this with the support of their own government. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 4, 2018 Share Posted October 4, 2018 1 hour ago, inbruges said: The one token gesture case and then that will be it, how about all those dodgy Russians? London is swamped with dirty money It is generating fear in the people who have bought dirty money here the reaction could be the stop of future flows of such monies Quote Link to comment Share on other sites More sharing options...
dougless Posted October 4, 2018 Share Posted October 4, 2018 11 minutes ago, prozac said: It is generating fear in the people who have bought dirty money here the reaction could be the stop of future flows of such monies That's my reading of this although the dirty money won't go away overnight but hopefully it will make the people involved more cautious. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 4, 2018 Share Posted October 4, 2018 36 minutes ago, dougless said: That's my reading of this although the dirty money won't go away overnight but hopefully it will make the people involved more cautious. The question is why do they bring their money to london, because london is safe, if this argument is no longer valid then then money stops coming, I also think there will be an asset value collapse in where the money has been going Quote Link to comment Share on other sites More sharing options...
dougless Posted October 4, 2018 Share Posted October 4, 2018 (edited) 18 minutes ago, prozac said: The question is why do they bring their money to london, because london is safe, if this argument is no longer valid then then money stops coming, I also think there will be an asset value collapse in where the money has been going I dont't think its 'safe' or 'not safe' but is more nuanced. Whoever these criminals are, they won't just have parked their cash in London, it will be spread around the globe. My feeling, and its no more than that, is that a certain unease around the 'safety' of London will encourage a gradual movement of assets rather than a sudden rush. Having said that, I do hope you are correct and it leads to an asset collapse in London; if I liked Champagne I would open a bottle to toast the collapse. Edited October 4, 2018 by dougless Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 4, 2018 Share Posted October 4, 2018 2 minutes ago, dougless said: I dont't think its 'safe' or 'not safe' but is more nuanced. Whoever these criminals are, they won't just have parked their cash in London, it will be spread around the globe. My feeling, and its no more than that, is that a certain unease around the 'safety' of London will encourage a gradual movement of assets rather than a sudden rush. Having said that, I do hope you are correct and it leads to an asset collapse in London; if I liked Champagne I would open a bottle to toast the collapse. But don’t you think holistically and think this could crash the country this will crash the service sector and the stock broker belt properties Quote Link to comment Share on other sites More sharing options...
Locke Posted October 4, 2018 Share Posted October 4, 2018 Quote unexplained wealth order Quote Link to comment Share on other sites More sharing options...
dougless Posted October 4, 2018 Share Posted October 4, 2018 (edited) 9 minutes ago, prozac said: But don’t you think holistically and think this could crash the country this will crash the service sector and the stock broker belt properties Possibly. Any sharp downward movement in London property prices would have an almost immediate effect on the Home Counties so all good as far as I am concerned. Would that crash the country, I am not sure. Edited October 4, 2018 by dougless Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 4, 2018 Share Posted October 4, 2018 21 minutes ago, dougless said: Possibly. Any sharp downward movement in London property prices would have an almost immediate effect on the Home Counties so all good as far as I am concerned. Would that crash the country, I am not sure. The stock broker belt must be in hyper meltdown Quote Link to comment Share on other sites More sharing options...
happyguy Posted October 4, 2018 Share Posted October 4, 2018 16 hours ago, jonb2 said: Just a few grand into the Tory coffers will make sure they don't suffer. zzzzzzzzzzzzz childish Quote Link to comment Share on other sites More sharing options...
happyguy Posted October 4, 2018 Share Posted October 4, 2018 56 minutes ago, prozac said: I also think there will be an asset value collapse in where the money has been going Possibly but it will not affect the guy who wants to buy a 2 bed flat or house at "normal" prices Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 4, 2018 Share Posted October 4, 2018 4 minutes ago, happyguy said: Possibly but it will not affect the guy who wants to buy a 2 bed flat or house at "normal" prices Yes it will, he may not get the same wages off course property prices will crash so from that perspective you are right Quote Link to comment Share on other sites More sharing options...
longgone Posted October 4, 2018 Share Posted October 4, 2018 15 hours ago, prozac said: You don’t have a clue the problem with South Asia is the amount of money and time they waste on religious ceremonies it is easy to blame corrupt politicians than admit the real problem the whole world is corrupt your country is not any different The only ones not happy about it are the ones not profiting. Quote Link to comment Share on other sites More sharing options...
jonb2 Posted October 4, 2018 Share Posted October 4, 2018 1 hour ago, happyguy said: zzzzzzzzzzzzz childish You think so? I don't. https://www.theguardian.com/commentisfree/2018/mar/12/tory-links-russia-saudi-links-corbyn-spy-extremism https://www.theguardian.com/politics/2018/mar/28/senior-tory-mps-accused-of-accepting-money-from-former-soviet-states https://www.independent.co.uk/news/uk/politics/conservative-party-russia-donations-putin-theresa-may-lubov-chernukhin-tory-a8375636.html https://www.independent.co.uk/news/uk/politics/russian-oligarchs-alexander-litvinenko-sergei-skripal-tory-donations-marina-philip-hammond-a8250321.html https://www.telegraph.co.uk/politics/2018/03/11/tories-will-not-return-820000-russia-linked-donations-philip/ https://www.thetimes.co.uk/article/tories-break-theresa-mays-vow-to-ban-russian-donors-glp2bl7cm https://descrier.co.uk/politics/boris-johnson-involved-in-160000-gift-of-russian-money-to-conservative-party/ https://www.mirror.co.uk/news/politics/tory-minister-dodges-questions-russians-12197819 https://www.bbc.co.uk/news/uk-politics-28450125 Quote Link to comment Share on other sites More sharing options...
GregBowman Posted October 4, 2018 Share Posted October 4, 2018 2 hours ago, prozac said: But don’t you think holistically and think this could crash the country this will crash the service sector and the stock broker belt properties No it won't on it's own - It's the inverse of the argument as why Amazon et al should pay their fair share of tax. They should contribute to the stability that two thousand years of infrastructure have led to. So when people say some economies are 'safe' they aren't talking in the short term. I work in the B2B service sector where the money is in technology and creative services. Not sure how a few millionaires going home and not having chauffeurs or house maids is going to affect that Quote Link to comment Share on other sites More sharing options...
GregBowman Posted October 4, 2018 Share Posted October 4, 2018 2 hours ago, prozac said: The stock broker belt must be in hyper meltdown It's not it really isn't why should it be ? A decent house in a developed area is a limited supply. it's a bit like saying because Ford can't sell Mondeo's - Ferrari's and Bentley's will crash. A two bed new build flat (where most of the over supply is) is the Mondeo. It will affect people who thought they could trade their 3 bed terrace house in Dalston for a 4 bed detached in the home counties. But that will throttle transactions not sure if it will crash the price of those properties. People will just sit tight. Quote Link to comment Share on other sites More sharing options...
simvastatin Posted October 4, 2018 Share Posted October 4, 2018 21 minutes ago, GregBowman said: It's not it really isn't why should it be ? A decent house in a developed area is a limited supply. it's a bit like saying because Ford can't sell Mondeo's - Ferrari's and Bentley's will crash. A two bed new build flat (where most of the over supply is) is the Mondeo. It will affect people who thought they could trade their 3 bed terrace house in Dalston for a 4 bed detached in the home counties. But that will throttle transactions not sure if it will crash the price of those properties. People will just sit tight. Good point I never thought of it from that perspective Quote Link to comment Share on other sites More sharing options...
Locke Posted October 4, 2018 Share Posted October 4, 2018 1 hour ago, GregBowman said: People will just sit tight. Until they cant. interest rates normalise they lose/change jobs cost of living forces them out relative becomes ill and needs looking after Pick any one. Quote Link to comment Share on other sites More sharing options...
GregBowman Posted October 4, 2018 Share Posted October 4, 2018 1 hour ago, prozac said: Good point I never thought of it from that perspective Thank you - I also agree with @Lockethat circumstances change but...I have lived in a leafy home county in detached house for 22 years. In three different houses and STR'd twice. The houses I think we are talking about are probably occupied by reasonably affluent middle aged couples. They have a lot of slack in their finances. You would probably need 3 out of the 4 of the circumstances to change to put pressure on their finances 1. Interest rates normalise - Maybe but from .75% to more than 3 unlikely and for example at 4% Probably doubles the cost of atypical mortgage on a £750k -£1 million home. Interest element goes from £450 a month to about £1k - bit of a p**** but no big deal 2. Lose/Change jobs - Change would be planned. Lose both earning so unlikely to lose at same time 3. Cost of living - You can live in a £1 million house in the UK with a low LTV mortgage for £2-£3k a month- few less curries and holidays but doable 4. Relative becomes ill. Could be an issue but figures much lower than you think, but I would say probably more likely than the above Should stress I am talking about detached houses in the Home Counties in solid mature locations - not the market as a whole. My personal experience in 5 locations if I include the rented houses - not one forced seller apart from 1 divorcing.That includes neighbours and friends so reasonable sample size Does sort of underline the crucial life decision is to choose your partner well and keep your knickers or pants on....? Quote Link to comment Share on other sites More sharing options...
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