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One Year To Pay Off Your Mortgage

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From Spain to Italy, Morocco to Montenegro, Sarah meets people investing their life savings, re-mortgaging their UK homes and cashing in their pension plans to raise enough capital to plough into high risk, but potentially high return ventures, from a 22 apartment complex in Bulgaria to high spec designer houses in Montenegro.

Lambs, slaughter...

Wasn't Montenegro being bombed by NATO a couple of years back? What's next? Buy-to-let in Baghdad?

Mind you, doesn't this rather suggest that the buy-to-let monster is rather running out of steam in this country?

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I love the 'mr & mrs Muppet bought their 2 ski chalets off plan at a fixed price, so they pay the same price to the developer if house prices go up' :rolleyes: What if they go down !

That 'pay off you mortgage in 2 years' prog on the bbc was shite, C4 & beeny are really scraping the barrel again.

All aboard Hms greedy! no thanks I'll wave goodbye from the dockside thanks. :angry:

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All together their five properties have been valued at a staggering £577,000. Their total outlay for the project was just £329,000, so if they sell them all tomorrow they will make an enormous profit of £248,000 in less than a year. That’s an incredible potential profit and would be enough to pay off their mortgages in the UK.

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Guest Shedfish

British Empire v2.0 - gov. steals ground from beneath our very feet, forcing us to go do the same elsewhere to get a toehold back

biggest export = HPI

+ a Big Brother house in every rural hamlet in europe

globalisation's really cool

(loved the yacht / tax dodge Durch - gotta get in before there are TV specials about it though)

British Empire v3.0 - yacht sales through the roof.. like British Empire v1.0 but downsized. royal navy and IR merger...

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New name:

DOUBLE OR NOTHING!!!!

Reminds me of a time in the pub, when a mate bet another one of my friends £5 he could beat them at pool (they didn't know each other). Basically, one was very good (uni champion infact) the other was crap. He wouldn't admit defeat, and 'doubled or nothing' 3 times - lost £40. Harsh lesson, but very very funny for us to watch.

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The project is on a knife-edge, as always at this stage in the programme.

No doubt their fortunes will magically transform just at the end:

"Fortunately due to rising land prices in spain, their pile of bricks is now valued at €20 billion euro..."

This time things are looking a bit desparate though!

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The project is on a knife-edge, as always at this stage in the programme.

No doubt their fortunes will magically transform just at the end:

"Fortunately due to rising land prices in spain, their pile of bricks is now valued at €20 billion euro..."

This time things are looking a bit desparate though!

they will make an enormous profit of £248,000 in less than a year

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This progamme is disgusting.

Encouraging people to take ever larger risks.

Can you imagine being in Germany seeing a programme a featuring Germans coming to speculate on property in your street in the UK?

Clogging up your street with rubble from the rebuild to 'German standards'.

I expect that the British are surely becoming more and more despised every year abroad and rightly so.

This is bubble mania at its worst. When anyone says "money making adventure" then run for the mountains.

What greater fool is going to finally pay for all this?

Even if the bubble lasts another year, its morally wrong to do this cr@p.

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To be honest it was a pointless program. What about the costs involved? I assume building costs were included in the figures mentioned, but what about remortgaging costs? What about currency changes from the money borrowed on their own mortgage? and basing it on a valuation was pointless.

It did come accross as do this, and look what you could make kind of program.

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I thought the idea was to pay off your mortgage. It only took 34 minutes of the programme before they MEWed to get some cash flow. Should rename it The Muppet Show :D

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It did come accross as do this, and look what you could make kind of program.

Indeed, especially the constant references that they were making a lot of money "for doing very little".

The implication was that all you needed was to get planning permission to build a house on a ruin and it would instantly double in value.

Missed the end. Did they actually realise a profit or was it estate agents valuations?

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Had the misfortune of catching one of these programs on TV this morning when making a cup of tea. Punters go to auction, buy derelict house for £125k, budget £20k for refurb. Cameras re-visit 6 months later to find an old fireplace has been exposed, rubble everywhere. EA's give 'expert' valuation of £165k, assuming the work is completed........presenter announces "Fantastic! They've made a cool £20k!!"

Reality is the house is still derelict, nobody has mentioned stamp duty, financing costs, EA selling fees, mental strain, and the fact that it hasn't even been sold yet.

These programs are very dangerous, and pander to the deluded..........the property markets' equivalent of X Factor.

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The implication was that all you needed was to get planning permission to build a house on a ruin and it would instantly double in value.

Missed the end. Did they actually realise a profit or was it estate agents valuations?

They actually have to sell these places to make a profit.

Yes, you only need planning to double, triple the value of your property.

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At the end of the program they hadnt sold anything. One of the women started with a £125k mortgage on her UK home. She borrowed another £50k (in two tranches) against it, so she has £175k uk mortgage. They needed to borrow £200k in Spain for the renovations (this was reduced to arround £90k due to already remortagaging in the uk and deciding not to renovate the 4 bedder and flip it with planning permission), her share of this debt was £45k. They needed to raise £172k mortgge to complete on the 2 Ski apartments, with her share of the £8k deposit being £4k, this equals another £88k debt for her.

So she started with £125k mortgage and now has:-

£175k + £ 45k + £ 88k = £308k of mortgages + maxed out credit cards and ongoing costs of ownership.

Nothing Sold!!!! Valuations picked out of the air.

HOW TO ALMOST TREBBLE YOUR MORTGAGE IN A YEAR!!

Good luck they'll need it to hang onto their UK family home.

Pablo Silver or Lead?

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but do you remember Warren Wald? eye of the tiger... ohh

That is classic!

Note, he has a "maffs degree," so we could see him on one of these property programs before long.

This demonstrates the analogy perfectly, but the difference is Warren walks away with nothing less than a dented ego, while the property punters stand to lose their house and life savings.

Edited by Shropshire Lad

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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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