Record Levels Of Second Homes

[JBFTB]

http://www.thisismoney.co.uk/mortgages/art..._page_id=8&ct=5

(Apologies if already posted)

Sigh.

[AteMoose]

CHARLES Phillpot, 51, and his wife, Claire, 36, from London, describe their decision to buy a fourbedroom, cliff-top house in Polzeath, Cornwall as 'an outstanding success'.

They bought it from Mrs Phillpot's uncle for about £700,000 last year in an area known as the 'Martha's Vineyard of England'.

By renting it out for 12 weeks a year, the house pays for itself and in peak season they can get £2,000 a week.

Property values have soared in Cornwall. 'Everybody who has got a property down there is thrilled,' said Mr Phillpot.

The company director, who has two children, Emma, 15, and James, 13, added: 'The whole family absolutely love it. We see it as our home.'

house costs 'about' 700,000 (how can they not know how much they paid, they paid more?)

Annual IO Morgage 4.5% £31,500

Repairs/Maintance £2000

£33,500

Rent for 12 weeks, peak season is 2000 per week, off peak less?

2000 x 4 = 8,000

1500 x 4 = 6,000

1200 x 4 = 4,800

18,000

Even if the peak season lasted three mounths, that would only be 24k, still a massive shortfall

Costs 33k per year, holiday rental income of 18k as long as it is fully rented out at all times, its definatly not paying for itself. However im sure Mrs Phillpots uncle is thrilled, and looking forwards to his retirement.

The family also has to move out of 'the family home' for three mounths in the summer! Because it has to be rented out because they cant afford it otherwise, sounds like a crazy 'investment'. Bring on the second home council tax ;p

CHARLES Phillpot age 51 (The company director)

wife Claire 36

Emma 15

James 13

Claire was pregnant with there first child when she was 20, mr Phillpot was aged 36 at the time, how long were they together before she became pregnant? 1 year, 2 years? 4 years?

Edited April 25, 2006 by moosetea

[OzzMosiz]

Bring on the second home council tax ;p

Too right. I have no idea why Labour don't do this? They won't be seen as being mean by most!

[Mags]

Claire was pregnant with there first child when she was 20, mr Phillpot was aged 36 at the time, how long were they together before she became pregnant? 1 year, 2 years? 4 years?

She's probably the bit on the side, stuck bringing up his children from his first marriage... perhaps.

[OzzMosiz]

She's probably the bit on the side, stuck bringing up his children from his first marriage... perhaps.

Or she saw a "rich" man and thought, I'll have that! ? It does happen!

[Mags]

Or she saw a "rich" man and thought, I'll have that! ? It does happen!

True!

[AteMoose]

She's probably the bit on the side, stuck bringing up his children from his first marriage... perhaps.

Make Mrs Phillpots uncle sale even more impressive, Claire orginally come from a council estate in glasgow?

Edited April 25, 2006 by moosetea

[sam]

I am just having a quick flick through some of the sites this morning before i go to my first job, and i am late as well, i really need to get my **** in gear, but this story has made me furious, i am so angry.

Sod the job (O: i have stuck a brew on and i am going to have my say on this one before the customer starts hounding me, i have to get this out of my system.

None of this is just slightly wrong, it is not a case of it's our money so we can do as we want, even though that is sadly the case, this is immorral, obscene and disgusting.

If this "Stay in Power Labour Governement at any cost" are going to allow this Country to be flooded with immigrants, if they are happy for 100,000's of people to have their little two week and bank holiday retreats, they had better start building more homes, this is only a small Island for f*** sake.

Only yesterday there was a story posted about some poor woman living in her car, not a lazy thick woman, but a woman where circumstance had brought here down, and the UK just won't give her a break now, yet they allow some Toffs to have as many holiday homes as they wish.

Would we allow one person to own half of our reservoirs if they were rich enough, so they could use them for their own personal use, go trout fishing with their chums at the weekends while we have water shortages, WELL IT'S HIS MONEY, he can do as he pleases.

What is the matter with some people, if they want to go to Cornwalll for a few weeks, just get a hotel for f*** sake., and if they must have a second home, get it in a Country where there is plenty of room, the States is still a good bet, and they will welcome you.

This article mentions Brancaster as well, somewhere i know well, it was a place i found years ago and was then unheard of, it was great for some peace and quite. It alsoo had many old flint cottages that you could pick up for next to nothing, main reason was that was not much work around there, bet it is even tougher for the locals now.

I have no doubts that there are many familys who are spitting blood at the moment, familys that are wanting homes to bring their kids up, these people have nobody to turn to for help, little wonder that the BNP is being mentioned, and i do not think it is coincidence that they have been on the news a few times lately, i think it is a bit of mischief making from one of the big Partys. If people were not thinking of voting BNP a few weeks ago, they sure know now that they have an outlet for their anger in a few weeks time.

This post still has not worked, the anger is too great.

Muliti homeownership is a vile disgusting immorral greedy practice that should be taxed as highly as(well there is no as highly), just tax it to death untill REAL familys with average jobs are once again moving into their homes.

But like someone in a previous thread today has already rightly pointed out, the property market is the economy.

Sam

p.s just one more quick one, some of you are probaly aware of the low life thieving junkie i have mentioned and know of, who has ended up doing very well out of us(tax payer), owns 4 bedder house in Herts after getting price reduced. Well just to make you more sick, now after Mothers council house before she dies, in order(now wait for it, your love it), to buy a holiday home, i swear, i know how troll like this statement is, but on my daughters life.

[Seen It Before]

house costs 'about' 700,000 (how can they not know how much they paid, they paid more?)

Annual IO Morgage 4.5% £31,500

Repairs/Maintance £2000

£33,500

Rent for 12 weeks, peak season is 2000 per week, off peak less?

2000 x 4 = 8,000

1500 x 4 = 6,000

1200 x 4 = 4,800

18,000

Even if the peak season lasted three mounths, that would only be 24k, still a massive shortfall

Costs 33k per year, holiday rental income of 18k as long as it is fully rented out at all times, its definatly not paying for itself. However im sure Mrs Phillpots uncle is thrilled, and looking forwards to his retirement.

The article does not mention how much, if any, the house is mortgaged for so how do you arrive at your shortfall calculation without adding random costs which may or may not exist?

[AteMoose]

The article does not mention how much, if any, the house is mortgaged for so how do you arrive at your shortfall calculation without adding random costs which may or may not exist?

Because when comparing rental income to morgage you should compare IO on the full cost of the property, if you were investing 400k it would have a better return in the bank or the stock market.

[billy-g]

Sam, reading that post, you sound like your getting more bitter and twisted by the day.

I'm after a holiday home probably next year, but it will be in either Spain, Cyprus or the USA. I wonder if that passes your "Morality of ownership" test?

But you know what? Having grown up in a Council Estate, and worked my way up and on in life, I really dont give a toss who thinks its immoral for me to own more than one home for my sole and exclusive use.

Its my money, I worked for it, and I'll do what I want with it.

[Mags]

Its my money, I worked for it, and I'll do what I want with it.

Even if that prices someone else out of having somewhere to live?

[billy-g]

Even if that prices someone else out of having somewhere to live?

Yes.

Hard life, isn't it?

[BusBuilder]

Sam, reading that post, you sound like your getting more bitter and twisted by the day.

I'm after a holiday home probably next year, but it will be in either Spain, Cyprus or the USA. I wonder if that passes your "Morality of ownership" test?

But you know what? Having grown up in a Council Estate, and worked my way up and on in life, I really dont give a toss who thinks its immoral for me to own more than one home for my sole and exclusive use.

Its my money, I worked for it, and I'll do what I want with it.

B-G Don't worry about Sam he has a very Socialist economic view and he appears to believe that everything should be owned by the Government with Uncle Tony dishing out property to his favourite Voters.

He also seems to personalise his circumstances and blames anyone and everything for his own misfortune i.e "they should do something ...." this is a common technique for losers to justify why they are losers. Currently he seems to think that the Government somehow owes him a property and that "they" should do something to make his life easier. It is not his fault at all, it is his parents, his teachers at schoool and (as we know) the governments fault ... oh ... and don't forget the greedy property owners it's their fault too!. Property owners have just been Lucky (there is no such thing as hard work in Sam's world) - the only reason why they own a house at all is that they were born at the right time. If he had been born at the right time then he too would have a wonderful life and a great house to live in. But instead his life is terrible so all he can do is sit around feeling sorry for himself - after all nothing he can do will change his "bad luck" so why bother trying.

[Mags]

Yes.

Hard life, isn't it?

Wow!

Sometimes treading lightly through life can offer far greater reward.

[Warwickshire Lad]

Hardly surprising is it when there are both record numbers of second homes, whilst at the same time there are record numbers of young people without even one.

That's what I'll remember New Labour for, a party who promised redistribution of wealth from rich to poor, but instead managed to achieve the exact opposite.

It is ethically unacceptable to own a second home, but you can't ban it. The answer is just to make it very financially unattractive.

Doubt any politicians have the will to do the right thing ethically since their fingers are in the property pie.

It's a very bad time to be a young person in Britain.

[erd]

Hardly surprising is it when there are both record numbers of second homes, whilst at the same time there are record numbers of young people without even one.

That's what I'll remember New Labour for, a party who promised redistribution of wealth from rich to poor, but instead managed to achieve the exact opposite.

It is ethically unacceptable to own a second home, but you can't ban it. The answer is just to make it very financially unattractive.

Doubt any politicians have the will to do the right thing ethically since their fingers are in the property pie.

It's a very bad time to be a young person in Britain.

The answer is to build an extra 60 million homes so we can all have one, two or even three. You should not be allowed to restrict the supply side, if a company did that then they would be hauled before the competition commission.

About time the planning rules were given a legal challenge!

[billy-g]

BusBuilder, thanks for putting that on forum, it absolutely sums up my feelings towards all those who come on here and whinge about how its all everybody elses fault, not theirs. Thats getting very boring now.

All I can say is my own experience - started with sod all, and worked up. As for the "Young kids have it harder now than ever" oh bloody really? Conscription to go and fight a war is there? Didn't think so, so get real.

When I was young in the early 90's, I left a sink comprehensive to go and be factory fodder. Except there weren't any factories to go to - that wee thing called recession was in full swing. So you know what, it was harder then, in my opinion, than it is now.I see plenty of jobs where I live, plenty of apprenticeships (sod all of those when I was a teenager) and plenty of opportunity if you want to get off your back end and work. Or maybe kids these days are all just a bit to metrosexual for that, who knows.

Ever wondered why those "Filthy Immigrants" (as all you BNP sympathisers on here think of them) come to Britain, and yet make a success of it? Because they WORK HARD and don't sit around bitching about it.

Thats why your average Pakistani immigrant now has a few businesses and kids in Law school/medicine etc, while those who despise them just because they actually went and did something still dont have a pot to piss in, or a window to toss it out of.

I have a good few Asian mates, and they look at this site and heave around laughing. No wonder.

Sod feeling guilty about having money/houses etc. I put the 14 hour days in for it in my past. So why should I?

Like I said, its a hard life, and there are no hand oputs or free rides to be expected. Grasp that, and you'll get on better.

[BusBuilder]

It's a very bad time to be a young person in Britain.

How so? There were 100 of the Richest Young people living in Britain listed in the Sunday Times this week (ranging from 19 to 30 years old and "worth" from £5mio to £700mio). What's to stop you joining them?

Personally I think it is an excellent time to be young in Britain (would you prefer to be young in say Zimbabwe?). The world does not start and stop at houses prices - the opportunities in Britain are limitless.

[OzzMosiz]

How so? There were 100 of the Richest Young people living in Britain listed in the Sunday Times this week (ranging from 19 to 30 years old and "worth" from £5mio to £700mio). What's to stop you joining them?

Personally I think it is an excellent time to be young in Britain (would you prefer to be young in say Zimbabwe?). The world does not start and stop at houses prices - the opportunities in Britain are limitless.

The rich get richer and the poor get poorer. The middleclass get poorer too!

[aussieboy]

Here's a question for those applying morality to property ownership:

Which is more unethical? A couple with a baby that:

- own two very small, two bedroom houses; or

- own one very big, five bedroom one?

Where to total valuations are equal.

Personally, on the "Sam Scale" of morals where 10 is a bloke living in a ditch and 1 is TTRTR's more successful brother, I would give the first case TWO on the Sam Scale and the second case FIVE on the Sam Scale.

Perhaps a poll may be interesting.

Edited April 25, 2006 by aussieboy

[OzzMosiz]

Here's a question for those applying morality to property ownership:

Which is more unethical? A couple with a baby that:

- own two very small, two bedroom houses; or

- own one very big, five bedroom one?

Where to total valuations are equal.

Personally I think the 1st option is more unethical!

This couple might want another baby and move grandma in at a later stage with the bigger house. Whereas with 2 small houses, they are holding another house that another couple with a baby could buy.

[Mags]

Personally I think the 1st option is more unethical!

This couple might want another baby and move grandma in at a later stage with the bigger house. Whereas with 2 small houses, they are holding another house that another couple with a baby could buy.

I agree.

[aussieboy]

Personally I think the 1st option is more unethical!

This couple might want another baby and move grandma in at a later stage with the bigger house. Whereas with 2 small houses, they are holding another house that another couple with a baby could buy.

What if there's space in the roof of both for loft conversions and then they decide to adopt a baby?

[mhifoe]

BusBuilder, thanks for putting that on forum, it absolutely sums up my feelings towards all those who come on here and whinge about how its all everybody elses fault, not theirs. Thats getting very boring now.

All I can say is my own experience - started with sod all, and worked up. As for the "Young kids have it harder now than ever" oh bloody really? Conscription to go and fight a war is there? Didn't think so, so get real.

I wasn't aware that people born in the sixties had to deal with conscription. People born in the twenties had it hard, those born in the 40's and later less so.

I feel very sorry for you growing up in the great 90's depression. No doubt you were working down a pit from the age of 12 and slept in a cardboard box with the other 15 members of your family.