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The Masked Tulip

Blair's 4 Million Pound Mortgages

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The Daily Mail's headline story today is that the Blairs have mortgages outstanding of nearly 4 million and that they are 'strapped for cash'.

For some reason when the DM runs stories on the Blair's mortgages problems the story never makes it to their online site despite most of the other stories in the paper being there - so I can't provide a link.

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LOL.

Poetic and financial justice??

Poor Tony doesn't have a clue. It's interesting that Gordon IS actually prudent when it comes to his own financial affairs. No grubby BTL nonsense for him!

How much would you bet that Gordon keeps all his wealth in the form of gold? :lol:

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god told him to do it

The odd forthcomming book deal will clear the debt. Wayne Rooney just got £5m!

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It is possible that TB is one of thousands in a very similar situation. Its just that there has not been as much publicity surrounding the other fools, er, "investors." And why is TB in financial trouble, according to Rightmove he can still sell and make a big profit. :lol:

Did GB unload his BTL porfolio already?

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All we need now is Blair to apply for Bankruptcy :lol:

What incentive does a Govt have for fairer housing when the PM has a VI in unfair housing?

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There is a famous Italian with an offshore fund waiting to help him out,

as soon as the coast is clear. :lol:

Or perhaps he could leave Cherie and move into a mortgage free lovenest with Tessa? ;)

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The odd forthcomming book deal will clear the debt. Wayne Rooney just got £5m!

Can't wait to see the Blairs doing the same...

Cherie Blair:"Mums go to Iceland" :lol:

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Blair is predicted to earn in excess of £20m from books and the lecture circuit when he leaves politics.

Given his earning potential his debts are peanuts and practically an irrelevance to him personally.

But the losses he has made in BTL and the property market generally are getting considerable exposure which surely must do much to undermine sentiment.

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Blair is predicted to earn in excess of £20m from books and the lecture circuit when he leaves politics.

Given his earning potential his debts are peanuts and practically an irrelevance to him personally.

But the losses he has made in BTL and the property market generally are getting considerable exposure which surely must do much to undermine sentiment.

I still cannot understand how the Blairs can possibly lose money when Rightmove say prices have risen sharply and houses are flying off the shelves. All TB has to do is sell his portfolio, take the profits, and stay put in No. 10 for a few more years. Problem solved.

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Guest muttley

The odd forthcomming book deal will clear the debt. Wayne Rooney just got £5m!

He's nearly finished colouring the first one already.

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Apparently they tried to let the London house out for £4k per week, but have only been able to get £2k per week, leaving them to find an extra £6k per month to pay the mortgage - plus its interest only!!! :blink: The tenant is about to move out as well!...

They were going to sell their 2 flats in Bristol (bought in 2002) to add to the down payment for that London place, but they didnt because they'd fallen in value by about £25k each (from the price they paid, not the original asking price!!) so theyve kept them!

The article suggests they may end up having to sell the London house, which has gone down in value by at least £200k since they bought it in 2004, and the paper reckons they'd lose the best part of £400k total (inc fees and taxes) if they did sell!!

Basically one big ****-up for the Bliars!! :P

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The odd forthcomming book deal will clear the debt. Wayne Rooney just got £5m!

Maybe if things get tight Playgirl will pay him a few million for a centrefold.

Billy Shears

All we need now is Blair to apply for Bankruptcy :lol:

If he did apply it would make a nice matching pair with his moral bankruptcy.

Billy Shears

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There's amention of Blairs BTL problems in this article, but nothing indepth

http://www.dailymail.co.uk/pages/live/arti...in_page_id=1787

and this one. Doesn't seem he's going to have probs with his pension:

http://www.telegraph.co.uk/news/main.jhtml.../05/14/nblai...

(requiires registration)

£2m pension for Blair as private sector faces crisis

By George Trefgarne, Economics Editor

(Filed: 14/05/2005)

When Tony Blair leaves office, he will be entitled to benefits worth more

than £2.6 million, swelled by a special prime minister's pension awarded for

life, according to documents obtained under the Freedom of Information Act.

Under an obscure Act of Parliament, former prime ministers are entitled to a

pension of half their salary as soon as they depart No 10, irrespective of

their length of service.

Mr Blair does not have to contribute anything to be eligible for the scheme

and if he resigned today he would receive an immediate income of £62,400 a

year, Downing Street confirmed yesterday.

William Burrows, an actuary, calculates that anyone with an income of that

size bought in the form of an annuity - the method on which private sector

pensioners rely - would have to save up a pension pot of £2 million.

"It is such a big figure because Mr Blair is only 52 and can expect to live

for many years," said Mr Burrows.

The prime ministerial pension would come on top of Mr Blair's superannuation

as an MP, which could be payable from when he reaches 60, because of his

long service.

He has been an MP since 1983, and assuming he has been contributing the

maximum 10 per cent of his £59,000 MP's salary, he could retire in eight

years with a pension of £38,900, which would cost £570,000 to buy as an

annuity.

On leaving office he would also be entitled to a redundancy payment of

£31,000. And if he stepped down as an MP, too, he would receive up to a

year's salary as a resettlement grant.

Mr Blair's severance terms are in line with those that could be expected by

an executive of a large company.

But his taxpayer-funded pension could come to symbolise the generous

pensions of the five million who work in the public sector.

The Government is promising massive reforms this year and David Blunkett,

the new Pensions Secretary, has admitted this may include compulsory saving,

as in Australia, where all employees must save nine per cent of their

salaries.

Yesterday Adair Turner, chairman of the Government-appointed commission that

will recommend a long-term solution to the pensions crisis, said the

"inequalities" between pensions in the public and private sector were

becoming ever more apparent.

"Significant numbers of people in public sector schemes and in still open

private-sector defined-benefit schemes are enjoying pension promises of

unintended and arguably unaffordable generosity," Mr Turner said in a

speech.

He said that since his commission published its interim report last year, it

had conducted further research which showed that increased life expectancy

could impose even more costs on the pensions system than previously

realised.

He also said this meant that generous public sector pension schemes, that

guaranteed workers a fixed level, were becoming impossible to justify.

The pensions crisis has been caused by a combination of people living

longer, adverse market conditions, and a £5 billion a year tax rise by

Gordon Brown. He has also just removed tax breaks on private sector pension

pots of more than £1.8 million.

Mr Blair's personal finances were thrust into the spotlight last September

by his decision to buy a large house in central London for £3.6 million.

Documents filed at the Land Registry show he and his wife Cherie have a

mortgage on the property with Cheltenham & Gloucester of around £3 million,

with annual interest payments of about £135,000. He has recently let the

property to Michael Caton Jones, a film director.

Under the Parliamentary and Other Pensions Act of 1972, three officers of

state are entitled to special pensions of half their salary: the Lord

Chancellor, the Speaker of the Commons and the Prime Minister.

However, other Cabinet ministers, including the Chancellor of the Exchequer,

can join only the parliamentary scheme.

The arrangements were made 30 years ago as the occupants of the three top

posts are supposed to be independent and immune from outside influence. The

Lord Chancellor is also barred from returning to legal practice.

However, ex-prime ministers frequently find gainful employment. For

instance, John Major is a director of the American investment company

Carlyle Group.

Edited by Mr Blek

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All Bliar needs to do is to get Cherie to boo her eyes out on TV again. I'm sure us proles would be delighted to pass the hat around. :P

I won't be buying any book written by Bliar. What's it going to be called? 'How to became a negative equity millionaire.', 'I am a lying two-faced c**t', 'My wife and the con artist.', 'How God and I triumphed in Iraq.'

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All Bliar needs to do is to get Cherie to boo her eyes out on TV again. I'm sure us proles would be delighted to pass the hat around. :P

I won't be buying any book written by Bliar. What's it going to be called? 'How to became a negative equity millionaire.', 'I am a lying two-faced c**t', 'My wife and the con artist.', 'How God and I triumphed in Iraq.'

Nah, his book's going to be "How I was Bush's Monica" or "I did what Monica couldn't - I swallowed"

Or he could just go for "Bush's poodle"

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Nah, his book's going to be "How I was Bush's Monica" or "I did what Monica couldn't - I swallowed"

Or he could just go for "Bush's poodle"

Is it legal to go for Bush's poodle? Then again it has to better than eating Cherie pie? :o

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Is it legal to go for Bush's poodle? Then again it has to better than eating Cherie pie? :o

Please don't. The imagery associated with 'eating Cherie pie' - *shudders*

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Please don't. The imagery associated with 'eating Cherie pie' - *shudders*

Dear Mr Blek

I apologise for any permanent harm I have caused you.

I may have to section myself. Thank goodness the images of squirty cream have now subsided.

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