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iLegallyBlonde

Advice Required Sort Of House Related

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Our IFA advised to buy a house, any house that we can afford quickly as it's dangerous to jump off the ladder so needless to say I no longer believe a word he says.

So we need to save asap for school fees (and indeed a house one day), where do I look for advice if I can't trust a IFA who can I trust ???

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Research for yourself.

Educate yourself. (not meant nastily, just learn about financial products)

Do more research.

Take decisions based upon that knowledge.

That is what life is about. If you **** up then so be it, if you win, well done. An IFA is just someone who has done the first three things in this post (with a few quals. and regulations thrown in for good measure).

Ultimately whatever an IFA says do you will only do what is in your nature, you have already proved that by questioning your IFA. If you are conservative you will put your money under the matress, if you are reckless you will put it on lucky lad in the 2:30 at Doncaster.

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Our IFA advised to buy a house, any house that we can afford quickly as it's dangerous to jump off the ladder so needless to say I no longer believe a word he says.

So we need to save asap for school fees (and indeed a house one day), where do I look for advice if I can't trust a IFA who can I trust ???

Actually, if you are going to live in and own your own house for the rest of your life - it is 'dangerous' to jump off the ladder. The costs of jumping on and off and colossal and you would have to be very lucky to time the market.

If you are saving for school fees here is some unasked for advice. If you can't afford the top public schools - Winchester, Harrow, Wellington etc - don't waste your money. My experience of the middle draw ones is that the teachers are poorer than in the state sector but the surroundings are much nicer.

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Our IFA advised to buy a house, any house that we can afford quickly as it's dangerous to jump off the ladder so needless to say I no longer believe a word he says.

So we need to save asap for school fees (and indeed a house one day), where do I look for advice if I can't trust a IFA who can I trust ???

Did he back up his argument with facts and reasoning?

When I went to an mortgage advisor (of the EA) I was surprised (in hindsight) of the bull**** he fed me. One thing I didn't expect was the encouragement for me to lie about my salary (totally unexpected to me at the time). When he mention this I clearly stated what about IR's rising etc which was totally dismissed as it won't happen. Now, this is something I would expect of someone in a pub. Not a professional.

If I ever went to a professional of (any kind) I would expect any recommendations to be backed up with proper reasoning - surely he gave some reasoning why "it is dangerous to jump of the ladder"? Did you explain why you STR?

Either way, it shows how some people can't see the wood for the trees and can easily be biased based on their beliefs.

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Well this was the strange thing, he suggested that we should buy anything that we could literally anything because over time it would go up, I explained we could only pay the interest so we might as well rent a bigger place, yes he said but in the long term it would go up in value, yes i said but then if that was true so would everything else and we'd still only be able to afford our shoe box. It was exactly the sort of conversation you might expect to have in a pub not pay £150 an hour professional fees for :o

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Well this was the strange thing, he suggested that we should buy anything that we could literally anything because over time it would go up, I explained we could only pay the interest so we might as well rent a bigger place, yes he said but in the long term it would go up in value, yes i said but then if that was true so would everything else and we'd still only be able to afford our shoe box. It was exactly the sort of conversation you might expect to have in a pub not pay £150 an hour professional fees for :o

You paid for that advice!

:lol:

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If you can't afford the top public schools - Winchester, Harrow, Wellington etc - don't waste your money.

Wellington???

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Not to cast too much judgement but what is someone who can a )only afford an interst-only mortgage doing paying £150 for some suit to dispense bullsh*t advice and b ) thinking of spending many thousands per year in the dubious value of private education?

:huh:

Edited by DonnieDarker

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professional financial advisers are rubbish.

i went to see one about 6 months ago. after my hpc training i was probabaly a bit more clued up than most. i was talking about getting one of those multi fund type things. the geyser had not even heard of em. he went off on his own to research it. tosser. aint that his job???

any hew .... :rolleyes:

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Forget School fees and Children. They are a waste of money.

If you like children get a part time evening job as a baby sitter, you earn while you learn.

Spend your money on nice holidays, Beer, and going to Amsterdam, its greeeeeaaaaaaaaaaaat!!!!.

Edited by laurejon

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Not to cast too much judgement but what is someone who can a )only afford an interst-only mortgage doing paying £150 for some suit to dispense bullsh*t advice and b ) thinking of spending many thousands per year in the dubious value of private education?

:huh:

Well we weren't expecting ******** advice when we made the appointment, secondly interest only on £350k is rather a lot of money and that's what we could expect to pay at today's prices which is why we aren't buying.

As for the price of education well difficult to quantify but when your five year old has been swung around by her scarf and slammed into a wall by a 10 year at the local state school you do look at alternatives whatever the cost.

Edited by terrified

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The funniest thing I've read about IFA's is the last time I read one of those "Money Surgery" artiicles you see in the weekend Torygraph it was someone who had trained to be an IFA asking for advice.

Mid 30's, with kid(s) and he and wife had about 4k savings between them,

:blink:

PS.

for those fond of moody electronica get/rip 'Hide & Seek' by Imogen Heap...just fallen in love with this song.

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150 pound per hour for something you can get for free on this site.

most IFA know less than the people on here, for them its a job for us a way of life, same goes with journalists.How long do you think yer average journalist can spend on researching a housing article when the next day he needs to write one on the sewers in burnley or the the price of petrol at tescos.He just runs to the more than willing property vested intrest groups.

by the way a 3 month course makes you a IFA and 2 months of that is concerned with best how to categorise regulations, basically nothing on economics.

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Well we weren't expecting ******** advice when we made the appointment, secondly interest only on £350k is rather a lot of money and that's what we could expect to pay at today's prices which is why we aren't buying.

As for the price of education well difficult to quanity but when your five year old has been swung around by her scarf and slammed into a wall by a 10 year at the local state school you do look at alternatives whatever the cost.

Blimey! I think I'd better get saving more money.

Where do you live? London? Area?

(It's a bit hypocritical of me to cast aspersions because I'm already thinking about sending any kid I have to private school). ;)

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Blimey! I think I'd better get saving more money.

Where do you live? London? Area?

(It's a bit hypocritical of me to cast aspersions because I'm already thinking about sending any kid I have to private school). ;)

you can afford kids ?

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The incident occured in leafy Stratford upon Avon, not saying it couldn't happen anywhere but my hope is at least with private school the little sh1te would have been expelled.

For us it a stark choice school v's house, I suspect we won't buy again now until it's just for the two of us and a spare room again in about 25 years time but who knows.

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you can afford kids ?

:lol:

Not yet!

Well, I suppose you can almost never 'afford' them. You just make do when they come along.

It's a good point though.

I used Jason's budget calculator and after mortgage repayments and a the cost of living and this and that and I wasnt left with a great deal left...enough to fill a Maxi ISA in a good year.

So...SAVE SAVE SAVE is the principle.

One day I will wake up in my 30s and have a mid-life crisis wondering where my life's happiness went. That's a bit melodramtic but I do wonder if there is more to life than this saving lark.

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Actually, if you are going to live in and own your own house for the rest of your life - it is 'dangerous' to jump off the ladder. The costs of jumping on and off and colossal and you would have to be very lucky to time the market.

If you are saving for school fees here is some unasked for advice. If you can't afford the top public schools - Winchester, Harrow, Wellington etc - don't waste your money. My experience of the middle draw ones is that the teachers are poorer than in the state sector but the surroundings are much nicer.

Marina talks a lot of sense here, do you really think outside of the Wirral anyone gives a flying if your child has Birkenhead school or Mostyn house on their cv? Won`t count for diddly squat if they`re after a job in, for example, the City of London. Believe me, been there done that.

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Marina talks a lot of sense here, do you really think outside of the Wirral anyone gives a flying if your child has Birkenhead school or Mostyn house on their cv? Won`t count for diddly squat if they`re after a job in, for example, the City of London. Believe me, been there done that.

Lol, I do see where your coming from but i aint doing it for the snob value it's more a wanting my children to get through the whole experience with their limbs intact and no permanent pschology damage.

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:lol:

Not yet!

Well, I suppose you can almost never 'afford' them. You just make do when they come along.

It's a good point though.

I used Jason's budget calculator and after mortgage repayments and a the cost of living and this and that and I wasnt left with a great deal left...enough to fill a Maxi ISA in a good year.

So...SAVE SAVE SAVE is the principle.

One day I will wake up in my 30s and have a mid-life crisis wondering where my life's happiness went. That's a bit melodramtic but I do wonder if there is more to life than this saving lark.

i cant even afford a wife, they cost 10k now from thailand i aint paying that, i will stick with the good imagination and internet porn.Its tikme the inflation on brides came down a little.

i wish someone would come around and do some cleaning though

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i cant even afford a wife, they cost 10k now from thailand i aint paying that, i will stick with the good imagination and internet porn.Its tikme the inflation on brides came down a little.

i wish someone would come around and do some cleaning though

you need to be a bit cuter.

you could get yerself one of those cool and funky northern birds then :D

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Lol, I do see where your coming from but i aint doing it for the snob value it's more a wanting my children to get through the whole experience with their limbs intact and no permanent pschology damage.

Not quite making sense there my friend, are you concerned that your kids will go to the school in the rough part of West Kirby, Hoylake and Heswall? :lol: It`s so ******** here they still have the eleven plus :o my lad`s just passed, he got that rough grammar school, Calday. That won`t get him a job in the City either, his Godmother will though ;)

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He'll be there with E d w a r d Dixon, I friend of mines son then if he starts in September, I know Parkgate isn't inner city London but my little flowers are very delicate and after the scarf swinging incident there isn't enough cotton wool in the world for me to wrap them in.

Anyway back to houseprices another fecking house we've had our eye on has sold for the asking price here, I despair !!!

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  • 301 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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