jonewer Posted March 18, 2008 Share Posted March 18, 2008 http://forums.moneysavingexpert.com/showthread.html?t=806593 ...........a bit tight because we already had existing debt (around 30K)............before our own home was finished being built, we put a deposit down on a flat in the Rotunda in Birmingham............did this with my partner's parents.........7K deposit on a credit card .........market has changed......worried that that flat (18th floor, studio) won't sell or rent out......prospect or [sic]losing this ceposit [sic] is very worring......worried sick...could be a massive loss.....just don't know what we can do....current house is up for sale....no interest since it went on the market the 1st week of Jan... Quote Link to comment Share on other sites More sharing options...
Marcos Scriven Posted March 18, 2008 Share Posted March 18, 2008 http://forums.moneysavingexpert.com/showthread.html?t=806593 yeah there is one born every minute - one that scours (or posts) threads of misery from MSE on here... Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted March 18, 2008 Share Posted March 18, 2008 http://forums.moneysavingexpert.com/showthread.html?t=806593 "Whom the gods would destroy, they first make mad." Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 18, 2008 Share Posted March 18, 2008 yeah there is one born every minute - one that scours (or posts) threads of misery from MSE on here... misery / greed - a bit interchangeable on that forum eh? Quote Link to comment Share on other sites More sharing options...
Marcos Scriven Posted March 18, 2008 Share Posted March 18, 2008 misery / greed - a bit interchangeable on that forum eh? Yeah, everyone in a financial fix is greedy/irresponsible/horrible/smelly/stupid/nasty blah blah blah Quote Link to comment Share on other sites More sharing options...
hedgefunded Posted March 18, 2008 Share Posted March 18, 2008 They just don't see that their greed and that of so many like them, is what has got them into the mess. No group hugs from me I'm afraid. Quote Link to comment Share on other sites More sharing options...
Not Long Now Posted March 18, 2008 Share Posted March 18, 2008 http://forums.moneysavingexpert.com/showthread.html?t=806593 Hahahahaha. Sorry, absolutely NO sympathy here. Just amateur investor that's watched too many episodes of Homes Under the Hammer in search of a "risk free" quick buck! They deserve all that's coming to them. The local news reported that the flats in the Rotunda sold within a day, many to one property investor, which also creates its own risk to anyone buying in the same development. ...it isn't even the best part of Birmingham to have flat. Walking around the Bull Ring / Rotunda after the shops have closed is like walking around a graveyard. What were they thinking?!?? PS, 7k deposit on a credit card???!!!! Doubt they'll even be able to flip the balance to another card at 0% anymore. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 18, 2008 Share Posted March 18, 2008 Yeah, everyone in a financial fix is greedy/irresponsible/horrible/smelly/stupid/nasty blah blah blah a bit harsh but not far off at least one of the above they bought to let / flip, using a credit card as a deposit - i think that classes this lot as both greedy and stupid, don't you? Quote Link to comment Share on other sites More sharing options...
jonewer Posted March 18, 2008 Author Share Posted March 18, 2008 yeah there is one born every minute - one that scours (or posts) threads of misery from MSE on here... So? That flat they bought could have been bought by a real person. A first time buyer. Not a bunch of amatuer speculators in it to get rich quick and devil take the hindmost. I revel in their misery. I bathe in it as if it were a balmy ocean of milk and honey. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 18, 2008 Share Posted March 18, 2008 So? That flat they bought could have been bought by a real person. A first time buyer. Not a bunch of amatuer speculators in it to get rich quick and devil take the hindmost.I revel in their misery. I bathe in it as if it were a balmy ocean of milk and honey. Not only that, but they didn't even have their own money with which to buy it. I seriously hope they don't have children. Quote Link to comment Share on other sites More sharing options...
Not Long Now Posted March 18, 2008 Share Posted March 18, 2008 Yeah, everyone in a financial fix is greedy/irresponsible/horrible/smelly/stupid/nasty blah blah blah Nope. Not everyone in a financial fix is greedy and deserving of laughing at. Most are in a fix BECAUSE of the greed of such people, pushing up prices by their stupid greedy behaviour. I have complete sympathy for the young couple who've taken out a huge mortgage to buy their first place in the hope of starting a family. A mortgage that is so big because clowns such as these are playing at "investments" in property with the banks money, pushing up prices for those that just want to buy a house to live in and get on with their lives. Prats like these deserve EVERYTHING that is coming to them...... Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted March 18, 2008 Share Posted March 18, 2008 Yeah, everyone in a financial fix is greedy/irresponsible/horrible/smelly/stupid/nasty blah blah blah Well, come on, who the heck uses their credit card for a deposit on a flat? A flat they don't even need but are just buying for speculation? It's a textbook example of reckless borrowing. People can get into difficulties for all kinds of reasons (illness, divorce, job loss etc) and it would certainly be cruel and childish to make light of that but this example really just shows how out of touch so many people are with the realities of money management. Quote Link to comment Share on other sites More sharing options...
jonewer Posted March 18, 2008 Author Share Posted March 18, 2008 Aaaaand just in case you had any misplaced sympathy whatsoever... I may have done but it paid off big time in the past when I bought a inner city terrace for 45, rented it for two years at more than the mortgage and then sold for 79, so to your pointness point, yes, I have played the grown up game and won. This time, it hasn't paid off. I was after sound advice about the market, not ramblings from an idiot. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 18, 2008 Share Posted March 18, 2008 Aaaaand just in case you had any misplaced sympathy whatsoever... so he previously made £35k profit - what did he do with that and why is he after sympathy because the £35k islikely to be going somewhere else? Quote Link to comment Share on other sites More sharing options...
winkie Posted March 18, 2008 Share Posted March 18, 2008 Well, come on, who the heck uses their credit card for a deposit on a flat? A flat they don't even need but are just buying for speculation? It's a textbook example of reckless borrowing. People can get into difficulties for all kinds of reasons (illness, divorce, job loss etc) and it would certainly be cruel and childish to make light of that but this example really just shows how out of touch so many people are with the realities of money management. Playing the lottery with the credit card...using someone elses money...who is the real fool? Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted March 18, 2008 Share Posted March 18, 2008 (edited) The Rotunda http://en.wikipedia.org/wiki/Rotunda_(Birmingham) That is one ugy building Edited March 18, 2008 by notanewmember Quote Link to comment Share on other sites More sharing options...
symo Posted March 18, 2008 Share Posted March 18, 2008 I hope they lose everything including their parents. I am not being mean it's just these are the type of people that want everyone but themselves off the property ladder so they can profit. Not one ounce of sympathy. Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted March 18, 2008 Share Posted March 18, 2008 (edited) hey the BBC even has pics of some of the buyers http://www.bbc.co.uk/birmingham/content/ar...e_feature.shtml The two hundred and thirty two apartments in Rotunda range in price from around £150,000 for a city pad to nearly £500,000 for a penthouse. Each apartment is shaped like a 'slice of cake', radiating out from around a central core, and all boasting views of the city. i wonder if they are smiling now. Tav and Sangeeta had just purchased two 14th floor apartments in the restyled Rotunda; Richard purchased an apartment with his wife and friends as an investment; Richard Lishman When we initially decided to invest into this development we wanted to do our bit in keeping Birmingham's history & heritage in place. So what better than buying an apartment in the rotunda! We are planning to keep it over the long term, so one day it may become Max' home! R.MARTIN I qued from 8.30 Friday morning with pals and we were the first there and bought one each.it is for investment purposes, it was well worth the wait and the company was great, t overall it was so exciting and a very emotional day. Edited March 18, 2008 by notanewmember Quote Link to comment Share on other sites More sharing options...
Not Long Now Posted March 18, 2008 Share Posted March 18, 2008 Richard LishmanWhen we initially decided to invest into this development we wanted to do our bit in keeping Birmingham's history & heritage in place. So what better than buying an apartment in the rotunda! We are planning to keep it over the long term, so one day it may become Max' home! Amazing the number of people who have "invested for the long term" isn't it? I wonder if Richard's mortgage provider will share his thoughts when he comes to re-mortgage. Quote Link to comment Share on other sites More sharing options...
hedgefunded Posted March 18, 2008 Share Posted March 18, 2008 I'm not sure if I hate them or Heather Mills more... Quote Link to comment Share on other sites More sharing options...
geed Posted March 18, 2008 Share Posted March 18, 2008 so he previously made £35k profit - what did he do with that and why is he after sympathy because the £35k islikely to be going somewhere else? From the pictures of the house (read; ugly small windowed box), he bought a glam plasma screen and some crass wallpaper Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted March 18, 2008 Share Posted March 18, 2008 Those comments at the end of the bbc article refer to the initial offering I believe in Oct 2005....... The MSE posters think they just lose the deposit - surely they have lost much more than that because of negative equity and cant sell. Trapped. Quote Link to comment Share on other sites More sharing options...
geed Posted March 18, 2008 Share Posted March 18, 2008 The Rotunda http://en.wikipedia.org/wiki/Rotunda_(Birmingham) That is one ugy building Looks like a tin of beans with the paper labelling ripped off. Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted March 18, 2008 Share Posted March 18, 2008 I'm not sure if I hate them or Heather Mills more... that's a difficult call to make..................... Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted March 18, 2008 Share Posted March 18, 2008 (edited) http://birmingham.gumtree.com/birmingham/61/19505961.html rotunda (£132,000) Ouch... The rightmove postcode for this building is B2 4PA Edited March 18, 2008 by notanewmember Quote Link to comment Share on other sites More sharing options...
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