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Halifax family booooooooost!

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Untapped boomers' equity is the new gold rush. 

 

Next: Discounted equity release on inheritance (this already exists) to be used as deposit on a BTL. 

Discount rate only 45p in the Pound. 

Fill your boots. 

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54 minutes ago, stuckmojo said:

Untapped boomers' equity is the new gold rush. 

 

 

You mean younger people's future earnings is the new gold rush...not so new though but going further and deeper all the time.

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Halifax price boost they mean.

 

Smiling faces on the website but fact is many of these arrangements will break families apart.  BOMAD can be the cause of many tensions...

-Tension between siblings when not all treated equally

-Tension between the Mum and Dad if both are not equally enthusiast to lend

-Tension between M&D and the borrower due to the failure to meet repayments or misunderstandings around the arrangement.

-Erosion of the borrower's indignity and self respect because they need money from M&D before they could embark on a normal family life. 

...these are just a few examples...it is obvious that these arrangements can and often do end in tears...

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20 minutes ago, Wayward said:

You mean younger people's future earnings is the new gold rush...not so new though but going further and deeper all the time.

Of course, that's exactly what it means. 

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1 hour ago, Wayward said:

 

-Erosion of the borrower's indignity and self respect because they need money from M&D before they could embark on a normal family life. 

 

Everyone I know who has had money from family has acted like the purchase was 100% of their own doing, none have shown any sort of shame for taking a handout!

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18 hours ago, maffo in oxford said:
20 hours ago, Wayward said:

 

Everyone I know who has had money from family has acted like the purchase was 100% of their own doing, none have shown any sort of shame for taking a handout!

Not my own experience I know people who have been given their inheritance in advance and who are extremely grateful to their family 

20 hours ago, GeneCernan said:

Thanks for the £50k Mum, you've lost it all as my house had fallen value. Sorry. 

Or:

Thanks for the 50K it has stopped me giving a landlord 50K ?

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5 hours ago, mallish said:

 

Thanks for the 50K it has stopped me giving a landlord 50K ?

Omg

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On 31/10/2019 at 13:53, maffo in oxford said:

Everyone I know who has had money from family has acted like the purchase was 100% of their own doing, none have shown any sort of shame for taking a handout!

depends a bit really.

Boomer parents had it all handed to them on a plate at the direct detriment to their own children. Its the right and correct thing to do to help your kids out, just to get them partly back to where they would have been if the boomers voted and acted fairly.

If your young now and dont get help that's easily 15 years of your life lost straight away, either in rent, or overtime, or long commutes etc. as you are at a massive massive disadvantage. If your parents don't help you out until your mid-30's HPI would of neutralised the help to start with! 

If your boomer parents has endless wealth handed to them on a plate, and still pissed it all away and they themselves are broke, then your stuffed. 

These days to have a reasonable quality of life, you have to do everything right, at the right time, work all the extra hours you can, be a bit lucky, be very lean, be almost 100% driven by money, AND have a hand-out. 

Its not fair, its horrible. No-one wants a hand-out. But i dont hate those who do, as how else are you supposed to survive when the odds are stacked against you? i got a hand-out, and i really needed it to add to my war-chest if i hoped to get a reasonable sized house at a reasonable equity level (not talking about 5% minimum deposits on wanky new builds etc).

equality i do see myself as lucky, its crass to claim you bought stuff yourself when you didnt, but if you dont have enough class that your crass, your probably also a bit feckless and probably used that free money to buy a shite new-build, and basically instantly lost the help. 

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There is a junior guy in office who at the age of 19 got £20k help from BOMAD and now after 3 years at age of 22, he used his savings from last 3 years as deposit for second flat. His girl friend is his tenant. He says he will retire by 35 with his property empire. He hates stock market and pensions. Sounded like TV interview of Fergus Junior.

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20 minutes ago, Simhadri said:

There is a junior guy in office who at the age of 19 got £20k help from BOMAD and now after 3 years at age of 22, he used his savings from last 3 years as deposit for second flat. His girl friend is his tenant. He says he will retire by 35 with his property empire. He hates stock market and pensions. Sounded like TV interview of Fergus Junior.

sounds all fun and games at 20 years old. But then he meets someone and wants a house to start a family, and suddenly his existing commitments put paid to that. 

Any voids and he could easily be losing out. 

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27 minutes ago, Simhadri said:

There is a junior guy in office who at the age of 19 got £20k help from BOMAD and now after 3 years at age of 22, he used his savings from last 3 years as deposit for second flat. His girl friend is his tenant. He says he will retire by 35 with his property empire. He hates stock market and pensions. Sounded like TV interview of Fergus Junior.

if they don`t rise in value what is he investing in  ? dreams 

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4 hours ago, Simhadri said:

There is a junior guy in office who at the age of 19 got £20k help from BOMAD and now after 3 years at age of 22, he used his savings from last 3 years as deposit for second flat. His girl friend is his tenant. He says he will retire by 35 with his property empire. He hates stock market and pensions. Sounded like TV interview of Fergus Junior.

Is his dad Mark Carney?

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On 01/11/2019 at 17:34, Simhadri said:

There is a junior guy in office who at the age of 19 got £20k help from BOMAD and now after 3 years at age of 22, he used his savings from last 3 years as deposit for second flat. His girl friend is his tenant. He says he will retire by 35 with his property empire. He hates stock market and pensions. Sounded like TV interview of Fergus Junior.

Someone somewhere put £20k into Bitcoin in 2016. They are already retired. Just saying.

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On 31/10/2019 at 13:53, maffo in oxford said:

Everyone I know who has had money from family has acted like the purchase was 100% of their own doing, none have shown any sort of shame for taking a handout!

 Ha. My thoughts exactly. They all 100% pretend it's due to their brilliant minds and hard work. Doesn't take much digging to reveal the truth. The indicators are often the mid 20s moving to 4 days a week etc.

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On 31/10/2019 at 14:53, maffo in oxford said:

Everyone I know who has had money from family has acted like the purchase was 100% of their own doing, none have shown any sort of shame for taking a handout!

The shame should be that without help  thousands of younger people would not have what they now have...so down to not who you are, how clever you are or how hard you work....boils down to how much your parents or family can afford to give you......Anyway why use an agent, then got two pockets to fill.😉

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  • 293 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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