April's Nationwide Index -0.4% MoM +0.6 YoY

[sell2rent]

1 minute ago, mynamehere said:

Remind me how you are getting over 5% net on 1.5million in cash?

Trading 212 are 5.2% instant access on GBP.

[mynamehere]

6 minutes ago, sell2rent said:

Trading 212 are 5.2% instant access on GBP.

Net?

Brave to trust 1.5 mil with that lot 

Edited May 1 by mynamehere

[sell2rent]

1 minute ago, mynamehere said:

Net?

It is complicated, but jurisdictions outside the UK have different incentives and opportunities to encourage new businesses and generating employment which I'm doing. It will either be 5.2% net or I will use vehicles that produce capital gains which are zero rated.

[sell2rent]

11 minutes ago, mynamehere said:

Brave to trust 1.5 mil with that lot 

They aren't the only ones paying >5%.

[mynamehere]

Just now, sell2rent said:

They aren't the only ones paying >5%.

Uh huh

Sounds like pure BS to me

 

 

[Blobsy]

2 minutes ago, mynamehere said:

Uh huh

Sounds like pure BS to me

 

 

If sell2rent is who I think he is then would say it is the truth.

[sell2rent]

1 minute ago, mynamehere said:

Uh huh

Sounds like pure BS to me

 

 

https://www.natwestinternational.com/savings/fixed-term-savings.html#interest-rates

Barclays International from a few weeks ago. I'm going for USD with them:

[sell2rent]

Just now, Blobsy said:

If sell2rent is who I think he is then would say it is the truth.

I expect to be called out on everything I ever say under my real name or not in any domain and will provide references to back it on request.

[mynamehere]

1 minute ago, Blobsy said:

If sell2rent is who I think he is then would say it is the truth.

My writing was lazy, I meant more that his case for cash > rent leant so heavily on outlier cases it was basically BS. 

 

 

Nobody has shown a convincing real life example, for a house price 200k-800k. And someone paying tax on their interest.

 

[sell2rent]

Just now, mynamehere said:

My writing was lazy, I meant more that his case for cash > rent leant so heavily on outlier cases it was basically BS. 

 

 

Nobody has shown a convincing real life example, for a house price 200k-800k. And someone paying tax on their interest.

 

It is my case. I'm an outlier and want to be.

[mynamehere]

3 minutes ago, sell2rent said:

It is my case. I'm an outlier and want to be.

You said it wasn't rocket science. Implying anyone could do it. 

The other guy's' cash' turned out to be stock market and a 1.2m house

I stand by the BS assessment. You are both full of it. 

 

[Sackboii]

30 minutes ago, mynamehere said:

Net?

Capital gains on Gilts can be tax free if done properly.

[sell2rent]

3 minutes ago, mynamehere said:

You said it wasn't rocket science. Implying anyone could do it. 

The other guy's' cash' turned out to be stock market and a 1.2m house

I stand by the BS assessment. You are both full of it. 

 

Meanwhile, you are the one who admits to lazy writing, calls BS, then becomes insulting when references are provided to prove any point requested. I'm sure you can do better than this.

[mynamehere]

2 minutes ago, sell2rent said:

Meanwhile, you are the one who admits to lazy writing, calls BS, then becomes insulting when references are provided to prove any point requested. I'm sure you can do better than this.

 

References? 

You linked to a trading account with no FCS, and a savings account offering 4.67

and made vague allusions to complicated off shore schemes that are above our understanding

Perhaps you can do better too

 

[sell2rent]

3 minutes ago, mynamehere said:

 

References? 

You linked to a trading account with no FCS, and a savings account offering 4.67

and made vague allusions to complicated off shore schemes that are above our understanding

Perhaps you can do better too

 

I've been getting over 5% for most of the time I've been renting. My rental yield hasn't been 2.5% for the whole time I've been renting. Interest rates over 5% have been getting more difficult. They were in the GFC as well. Eventually I'll probably buy a house. I can always do better for sure, thanks for reminding me.

[sell2rent]

15 minutes ago, mynamehere said:

 

References? 

You linked to a trading account with no FCS, and a savings account offering 4.67

and made vague allusions to complicated off shore schemes that are above our understanding

Perhaps you can do better too

 

https://kpmg.com/dp/en/home/services/tax/family-office-and-private-client/tax-in-the-isle-of-man.html

Here are details of three useful tax incentives. The first two are applied for:

"Special incentive for key employees that is relevant to new Isle of Man residents thinking of establishing new businesses in the island, as well as existing businesses that, in order to develop and expand, need to bring new key workers to the Isle of Man. Qualifying individuals will only be subject to Isle of Man tax on Isle of Man employment income, any benefits in kind and rent arising from Isle of Man land and property for the first three years of Isle of Man residence or during their period of employment, if shorter. This means any other Isle of Man source income or income from outside the Isle of Man will not be subject to Isle of Man tax."

"Irrevocable five or ten-year election to pay a fixed annual amount of £200,000 tax per person for the tax year 2024/25 if election made in 2023/24 (£400,000 for a married couple)."

The third is automatic by being tax resident:

"No capital gains tax"

I hope this clarifies that these are not vague allusions or complicated off shore schemes. You move here, if you want, they are in legislation, you apply for them or use them as you wish. It isn't rocket science after all is it?

[mynamehere]

11 minutes ago, sell2rent said:

https://kpmg.com/dp/en/home/services/tax/family-office-and-private-client/tax-in-the-isle-of-man.html

Here are details of three useful tax incentives. The first two are applied for:

"Special incentive for key employees that is relevant to new Isle of Man residents thinking of establishing new businesses in the island, as well as existing businesses that, in order to develop and expand, need to bring new key workers to the Isle of Man. Qualifying individuals will only be subject to Isle of Man tax on Isle of Man employment income, any benefits in kind and rent arising from Isle of Man land and property for the first three years of Isle of Man residence or during their period of employment, if shorter. This means any other Isle of Man source income or income from outside the Isle of Man will not be subject to Isle of Man tax."

"Irrevocable five or ten-year election to pay a fixed annual amount of £200,000 tax per person for the tax year 2024/25 if election made in 2023/24 (£400,000 for a married couple)."

The third is automatic by being tax resident:

"No capital gains tax"

I hope this clarifies that these are not vague allusions or complicated off shore schemes. You move here, if you want, they are in legislation, you apply for them or use them as you wish. It isn't rocket science after all is it?

 

Thanks, that at least clarifies your situation, and also clarifies the significance of your case to the discussion

[sell2rent]

7 minutes ago, mynamehere said:

 

Thanks, that at least clarifies your situation, and also clarifies the significance of your case to the discussion

I don’t know the recipe now for the UK and £200-800K except to work harder/smarter and leave. I did document a recipe for Scotland from 2006-2011 which worked well. I still think the only real gain I made on housing in Scotland was from 1998-2006 and then made most by not owning a house.

[cdd]

https://www.bbc.co.uk/news/articles/c3g8p440309o

House prices fall as lenders raise mortgage rates

House prices fell in April as potential buyers continued to face pressure on affordability, according to the Nationwide.

The UK's biggest building society said that UK house prices were down by 0.4% compared with the previous month.

It said the average home cost £261,962, some 4% below the peak in the summer of 2022.

The rising cost of borrowing was key to the latest fall in prices, it said.

 

'Rock-bottom rates long gone'

The figures come after a string of lenders raised rates on new fixed-rate mortgage deals in recent days.

The increases were prompted by expectations of fewer and slower interest rate cuts by the Bank of England.

The Halifax is the latest lender to announce higher rates, with a plan to put up the cost of much of its mortgage range by 0.2 percentage points on Thursday.

The interest rate on a fixed mortgage does not change until the deal expires, usually after two or five years, and a new one is chosen to replace it. Doing nothing would leave people on a variable rate, which is very expensive.

About 1.6 million existing borrowers have relatively cheap fixed-rate deals expiring this year.

Mark Harris, chief executive of mortgage broker SPF Private Clients, said: ”There are likely to be ups and downs in mortgage pricing in the weeks and months ahead but ultimately borrowers will have to get used to paying more for their mortgages as the days of rock-bottom rates have long gone.”

 

 

They should have got Stewy on the BBC to advise them about the facts and his truth.

He would have told them that everyone lives like kings, that rates will soon be rock bottom again, and house prices will rocket another 30-40% in the resulting house price boom.

 

 

 

[Social Justice League]

Many debtors are going to feel the pain and default imo.

[fellow]

2 hours ago, cdd said:

https://www.bbc.co.uk/news/articles/c3g8p440309o

House prices fall as lenders raise mortgage rates

House prices fell in April as potential buyers continued to face pressure on affordability, according to the Nationwide.

The UK's biggest building society said that UK house prices were down by 0.4% compared with the previous month.

It said the average home cost £261,962, some 4% below the peak in the summer of 2022.

The rising cost of borrowing was key to the latest fall in prices, it said.

 

'Rock-bottom rates long gone'

The figures come after a string of lenders raised rates on new fixed-rate mortgage deals in recent days.

The increases were prompted by expectations of fewer and slower interest rate cuts by the Bank of England.

The Halifax is the latest lender to announce higher rates, with a plan to put up the cost of much of its mortgage range by 0.2 percentage points on Thursday.

The interest rate on a fixed mortgage does not change until the deal expires, usually after two or five years, and a new one is chosen to replace it. Doing nothing would leave people on a variable rate, which is very expensive.

About 1.6 million existing borrowers have relatively cheap fixed-rate deals expiring this year.

Mark Harris, chief executive of mortgage broker SPF Private Clients, said: ”There are likely to be ups and downs in mortgage pricing in the weeks and months ahead but ultimately borrowers will have to get used to paying more for their mortgages as the days of rock-bottom rates have long gone.”

 

 

They should have got Stewy on the BBC to advise them about the facts and his truth.

He would have told them that everyone lives like kings, that rates will soon be rock bottom again, and house prices will rocket another 30-40% in the resulting house price boom.

This was just reported on BBC six o'clock news 🙂.

[Blobsy]

13 minutes ago, fellow said:

This was just reported on BBC six o'clock news 🙂.

Time to prime the plebs for the realities to come.

[henry the king]

9 hours ago, mynamehere said:

Stagnating prices are good news for those who want to take on loads of debt and leverage their inflated wages into the distant future 

bad news for anyone waiting for a nominal drop to pay in cash as nominal changes as unlikely as ever 

Investments are up probably around 15% on average in the last year. Cash up about 5%. 

[henry the king]

10 hours ago, fellow said:

 

Another year of flat house prices and 5-6% wage increases and I think we will have hit a decent time to buy (imo).

I know most here will disagree but I don't think prices will go back to pre 1997. I don't consider 2019 prices bad and that is basically where we are now. Add another year of flat prices and wage increases and I would say its actually a good time.

[mynamehere]

15 minutes ago, henry the king said:

Investments are up probably around 15% on average in the last year. Cash up about 5%. 

another way to look at is cash is down, given real interest rates were negative for most of the period. 

 

11 minutes ago, henry the king said:

Another year of flat house prices and 5-6% wage increases and I think we will have hit a decent time to buy (imo).

I know most here will disagree but I don't think prices will go back to pre 1997. I don't consider 2019 prices bad and that is basically where we are now. Add another year of flat prices and wage increases and I would say its actually a good time.

 

Assuming flat nominal prices why is it better to buy in one years time vs now?

I guess if you are struggling to borrow enough, a years pay rise will increase will stretch the max borrowing. But is this really what you are celebrating, higher  borrowing limits?

 

As for 2019 prices, in real terms are we not back to 2000 prices?

 

Edited May 1 by mynamehere