theChuz Posted May 6, 2006 Share Posted May 6, 2006 If this had been a Bullish first post there would be a chorus of "AWOOGA". Christ, I feel depressed hearing about 120k salaries after I finish work at 8 and am pulling in just over a quarter of this sum. dont worry i work on a 2 week changing shift patten, 6am-2pm, 2pm-10pm ,8pm-8am while working weekends and loads of overtime and i still get less than you its all relative Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted May 6, 2006 Share Posted May 6, 2006 F**k off fred. For c****t sake what about doc bubb? sorry to be the bearer of bad news, but this is a hoax post. Quote Link to comment Share on other sites More sharing options...
cupidstunt Posted May 6, 2006 Share Posted May 6, 2006 (edited) The people I know who earn that kind of money would NEVER admit to it, even on an internet forum: Yes - Here's another bragging tosser by the name of Tassotti! http://forums.moneysavingexpert.com/showth...=185686&page=11 Edited May 6, 2006 by cupidstunt Quote Link to comment Share on other sites More sharing options...
apom Posted May 6, 2006 Share Posted May 6, 2006 scottbell? Why not just call yourself chocolate? It's not a bad post but is it really necessary to tell us 3 times that you earn £120k? I'm sure that's small fry to a great many people, even people on this site. Your post would have read far better without it, and in case you were wondering, the £120k bit added nothing to your advice (good though it may have been). Welcome. NDL shit load of money to me.. However I do have two motorcycles and a playsation... Quote Link to comment Share on other sites More sharing options...
Mags Posted May 6, 2006 Share Posted May 6, 2006 shit load of money to me.. However I do have two motorcycles and a playsation... And an iPod? Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted May 6, 2006 Share Posted May 6, 2006 Can you get a £400k mortgage if you go to the building society and tell them you earn your income from trading stocks and shares (in a one man company?) Maybe you can... If you have a 25% deposit then of course you can. Quote Link to comment Share on other sites More sharing options...
Bee Bear Posted May 6, 2006 Share Posted May 6, 2006 I rent in a very nice area of London and while not on quite as much as scottbell i will add to the "people who earn lots don't rent things debate." I recently met one member of the couple that rented our flat before us for 8 years -- they both work in the City, and i am sure their combined income must be more than 120K. Like Dr Bubb says, people with money rent for all kinds of reasons, convenience being just one. Quote Link to comment Share on other sites More sharing options...
cupidstunt Posted May 6, 2006 Share Posted May 6, 2006 Yes - Here's another bragging tosser by the name of Tassotti! http://forums.moneysavingexpert.com/showth...=185686&page=11 Oh it's not a tosser it's TTRTR...... Quote Link to comment Share on other sites More sharing options...
Without_a_Paddle Posted May 6, 2006 Share Posted May 6, 2006 (edited) If you have a 25% deposit then of course you can. Fair enough. Does this mean I could sell my house and chip in my savings and get a >£1.5million mortgage if I change career from design engineer to stock trader? I seem to qualify for the mortgage with my 25% deposit... Does this explain why house prices are so high? Maybe lots of self employed people are doing this kind of thing... Edited May 6, 2006 by Without_a_Paddle Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted May 6, 2006 Share Posted May 6, 2006 Fair enough. Does this mean I could sell my house and chip in my savings and get a >£1.5million mortgage if I change career from design engineer to stock trader? I seem to qualify for the mortgage with my 25% deposit... Does this explain why house prices are so high? Maybe lots of self employed people are doing this kind of thing... Bottom line. The banks don't care whether you can afford the repayment, just that they can get their money back, if you default. It suggests that the banks don't foresee a fall in house prices > 25% Quote Link to comment Share on other sites More sharing options...
Without_a_Paddle Posted May 6, 2006 Share Posted May 6, 2006 Bottom line. The banks don't care whether you can afford the repayment, just that they can get their money back, if you default. It suggests that the banks don't foresee a fall in house prices > 25% I was getting excited for a minute there, so I looked on rightmove at £1.5m properties It just gets you a white walled semi-detached in Cheltenham... http://www.rightmove.co.uk/viewdetails-669...pa_n=1&tr_t=buy However that pink decor is very tempting... Quote Link to comment Share on other sites More sharing options...
eric pebble Posted May 6, 2006 Share Posted May 6, 2006 Welcome ... it's nice to hear another voice of reason! It certainly is!!! Oh I just cannot believe how long this massive scam has gone on for!! I have been banging on for over 2 years - I feel the time is finally coming..... E. Pebble Quote Link to comment Share on other sites More sharing options...
aussieboy Posted May 6, 2006 Share Posted May 6, 2006 I told you I had been on the beer. I quoted the 25yr bit out of habit. I think you'll find the £2k/month gets you a £480k IO mortgage. and yes, you don't pay off any capital on IO. I think we all understand that... But despite that, IO loans DO have an agreed term. This could be 7 years or even 25 years. At the end of the term you have to pay up the original debt or refinance. ...burp... Even on the beer, you make a good point WaP. The IO figure provided by the first fellow was way off. 120k doesn't get you too far in London if you have a family. That nice pre-school will cost you 9k a year etc. You also have to have a weekender somewhere to make life liveable Quote Link to comment Share on other sites More sharing options...
Property Investor Posted May 6, 2006 Share Posted May 6, 2006 Surely this guy is a troll. Example, I 'only earn' 75K' a year , own 52 houses producing turnover of 456K per year, he is the fool Quote Link to comment Share on other sites More sharing options...
Warwickshire Lad Posted May 6, 2006 Share Posted May 6, 2006 (edited) Example, I 'only earn' 75K' a year , own 52 houses producing turnover of 456K per year, he is the fool How much are your mortgage payments per year, and would you still be in profit if Interest Rates were to rise by 1% ? Edited May 6, 2006 by Warwickshire Lad Quote Link to comment Share on other sites More sharing options...
ToilAndTrouble Posted May 6, 2006 Share Posted May 6, 2006 9% of households wot rent private have income of over £50k gross. T&T Quote Link to comment Share on other sites More sharing options...
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