oracle Posted October 14, 2006 Share Posted October 14, 2006 Absolutely dept free and a nice deposit in the bank likewise.zero debt. about 80k in liquid assets.Well hedged in several different funds and physical investments. Quote Link to comment Share on other sites More sharing options...
FunkyGibbon Posted October 14, 2006 Share Posted October 14, 2006 Zero Debts. 0.5m of assets including property, UK and overseas equity, bonds, antiques, gold and cash. I could probably afford a couple of investment properties at the moment, but with yields < 5%, the game's not worth the candle. The stock market is a far more rewarding proposition at present. Just waiting for house prices to reach a more realistic level before I invest in property again. Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted October 14, 2006 Share Posted October 14, 2006 I could probably afford a couple of investment properties at the moment, but with yields < 5%, the game's not worth the candle. Just waiting for house prices to reach a more realistic level before I invest in property again. How much would prices need to fall before you would invest in property again? Quote Link to comment Share on other sites More sharing options...
FunkyGibbon Posted October 14, 2006 Share Posted October 14, 2006 How much would prices need to fall before you would invest in property again? To be honest, I think prices would need to drop by 50% before I would consider moving into BTL again. I know the hassle involved in being a landlord, and for 5% yield, it's just not worth the effort. Quote Link to comment Share on other sites More sharing options...
RichB Posted October 14, 2006 Share Posted October 14, 2006 graduated in 2000 with abuot 10k student loans, 3.5k overdraft and a grand on the card. 3 years later that was 3k on 2 cards(each) and a pair of 8k loans, and 2k on white goods. I mewed 20k out of a flat. Now creditcards are about par with savings, I still owe around 4-5k on the studen loan, and haven't been overdrawn in years. Peak debt was c.25-30k unsecured.... similar amount secured. Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted October 14, 2006 Share Posted October 14, 2006 To be honest, I think prices would need to drop by 50% before I would consider moving into BTL again. I know the hassle involved in being a landlord, and for 5% yield, it's just not worth the effort. That's some fall!! I'm guessing you were run out of the Landlord's Guild. Quote Link to comment Share on other sites More sharing options...
bambam Posted October 14, 2006 Share Posted October 14, 2006 zero debt/liabilities about £120k in pure cash. Quote Link to comment Share on other sites More sharing options...
Eeyore Posted October 14, 2006 Share Posted October 14, 2006 about £120k in pure cash. Thankful for that, I hate the thought of dirty money Quote Link to comment Share on other sites More sharing options...
bambam Posted October 14, 2006 Share Posted October 14, 2006 We have a car loan but that's normal isn't it for most families why's that? You can buy a good car for £1-£2k. Can't see why anyone who can afford to *run* a car (which is going to cost at the very least £1k per year) needs a loan to buy one. Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted October 14, 2006 Share Posted October 14, 2006 To be honest, I think prices would need to drop by 50% before I would consider moving into BTL again. I have been following a new build of 12x 2 bed flats in my area completed about 6 weeks ago. 8 To Let signs by different Agents, 2 sold, and 2 remaining. Passing today one of the To Let signs had a sticker across it saying For Sale. A BTL panicking early ? Quote Link to comment Share on other sites More sharing options...
bambam Posted October 14, 2006 Share Posted October 14, 2006 Thankful for that, I hate the thought of dirty money i keep it well-laundered Quote Link to comment Share on other sites More sharing options...
FunkyGibbon Posted October 14, 2006 Share Posted October 14, 2006 That's some fall!! I'm guessing you were run out of the Landlord's Guild. No, I'm deadly serious. In the 90s I was earning 7k pa on a 90k investment property (7.7%). I sold quite recently and reinvested in shares. I wasn't the member of any "guild". However, I purchased quite a nice potted plant for the letting agent as a farewell gift and he wished me good luck. Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted October 15, 2006 Share Posted October 15, 2006 why's that? You can buy a good car for £1-£2k. Can't see why anyone who can afford to *run* a car (which is going to cost at the very least £1k per year) needs a loan to buy one. sold a car to a young lad (26) a fortnight ago, just a 2K X reg mondeo, good miles only 40K. Anyhow, tells me he's going to drive it for 4 years, it'll be worth 300, his depreciation will be approx. 400 per year, bright lad. I read this week that the average cost per family of a car is 5k per year taking into consideration: depreciation, tax, insurance, petrol...basically £100 per week....what a nation of numpties we are Quote Link to comment Share on other sites More sharing options...
dnd Posted October 15, 2006 Share Posted October 15, 2006 sold a car to a young lad (26) a fortnight ago, just a 2K X reg mondeo, good miles only 40K. Anyhow, tells me he's going to drive it for 4 years, it'll be worth 300, his depreciation will be approx. 400 per year, bright lad. I read this week that the average cost per family of a car is 5k per year taking into consideration: depreciation, tax, insurance, petrol...basically £100 per week....what a nation of numpties we are One thing I do do is treat myself to the best car I can buy at the time - I usually lose arond £2K per year on my cars... Quote Link to comment Share on other sites More sharing options...
Jem Posted October 15, 2006 Share Posted October 15, 2006 Never owed a penny to anyone ever. All evidence that people behave rationally when it comes to debt. There is of course good debt and bad debt. Home improvements and investigating in improving your skills are good debt. Most people can service their debt if the worse happens equity in homes will always be an escape hatch. Quote Link to comment Share on other sites More sharing options...
Eeyore Posted October 15, 2006 Share Posted October 15, 2006 All evidence that people behave rationally when it comes to debt. There is of course good debt and bad debt. Home improvements and investigating in improving your skills are good debt. Most people can service their debt if the worse happens equity in homes will always be an escape hatch. Quote Link to comment Share on other sites More sharing options...
Sinders Posted October 15, 2006 Share Posted October 15, 2006 One thing I do do is treat myself to the best car I can buy at the time - I usually lose arond £2K per year on my cars... Ah I'd love a nice car but I have at least one accident a year so I need ABS breaks, air bags and low insurance group, I'm a crap driver. Quote Link to comment Share on other sites More sharing options...
please_delete Posted October 15, 2006 Share Posted October 15, 2006 Just graduated (Maths,Stats,OR and Economics from Warwick), starting a PhD at Bristol. Worked during term and holidays, got £3k/yr scholarship but took out max student loan. Parents didn't earn enough for me to pay fees. Have an £1000 interest free overdraft and took full loan each year, although I didn't spend it (put in building society account). Thus I estimate I have around £17k in debt BUT Although I'm quite uncomfortable with it, every time I think about paying off my debts my brain says "but hang on, you're getting more in interest in your savings account" so I always end up keeping it. The differential between what I get (approx. 5%) and pay (~3%) on my student debt is about 2%, so I make about £320/yr. I am worried about inflation so am looking for safeish places for my savings. Despite what we're told (government misinformation), I see inflationary pressures and it hurts (as my PhD stipend is inflation linked!). Quote Link to comment Share on other sites More sharing options...
sleepy Posted October 15, 2006 Share Posted October 15, 2006 Qualified from university in August 2001 with around 30 grand debt ( student loans, professional study loans, overdraft, borrowing from friends ). Now, after 5 years, I owe 3.5 grand to the student loans company, have cleared all other debts & have about 40,000 pounds in the building society. Basically, at uni I didn't think about what I was spending at all - I thought I could pay all my debts off very quickly when I started work. When I did start work I realised the accrued debts would burden me for many more years than I thought unless I grafted harder. So, I did loads of extra work in order that I could have the piece of mind of being ( almost ) debt - free. Now I'm virtually debt - free & don't have any other burdens - I don't own a car, property, wife, kids, gym membership, sky subscription..........its a nice feeling! Quote Link to comment Share on other sites More sharing options...
Running Bear Posted October 15, 2006 Share Posted October 15, 2006 Personally I have STR'd and taken my 150k with me to climates sunnier. Was thinking of heading back in the future, but 3 years in Canada have made me realise how low the quality of life is in the UK. Now am loath to even come back for a holiday. Still hoping for a crash though to help out family and friends back home. Quote Link to comment Share on other sites More sharing options...
Bee Bear Posted October 15, 2006 Share Posted October 15, 2006 I graduated in 1998 with a good bit of student debt -- more than most as i was a mature student. I've paid off all but £2400 and am saving like crazy to do so. We also have a car loan but that was kindly given to us by parents and we are paying it off interest free a set amount each month. No mortgage (still renting) but we should be debt free by this time next year. Quote Link to comment Share on other sites More sharing options...
dnd Posted October 15, 2006 Share Posted October 15, 2006 I don't own a car, property, wife, kids, gym membership, sky subscription..........its a nice feeling! Jeez, when you going to start spending? Quote Link to comment Share on other sites More sharing options...
zag2me Posted October 15, 2006 Share Posted October 15, 2006 (edited) Around 80,000 mortgage which im overpaying. and 2,000(down from 13,000) student loan which will be clear in 4 months, wahooooo! Dont ever intend to be in debt again after paying those two off. Edited October 15, 2006 by zag2me Quote Link to comment Share on other sites More sharing options...
aardvark Posted October 15, 2006 Share Posted October 15, 2006 no debt - not a single penny, and i have money in the bank. but then i don't have wife, kids, car, house, mobile phone, fondue maker etc. Quote Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted October 15, 2006 Share Posted October 15, 2006 Ah I'd love a nice car but I have at least one accident a year so I need ABS breaks, air bags and low insurance group, I'm a crap driver. ah ha, your a woman then you should have actually re-worded your reply to read "I cause at least 1 accident a year" when pulling out of junctions/round-a-bouts & changing your minds & stopping for no reason at all Quote Link to comment Share on other sites More sharing options...
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