Saturday, April 5, 2008

Reality Bites

Thrifty Living: I've become a lean, mean running and saving machine

Rosie Millard shares her woes. Three years interest-only with a 5% fix. It'll end in tears.

Posted by crash bandicoot @ 12:39 AM (960 views)
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13 thoughts on “Reality Bites

  • She states in this that the “Value of her house is not moving” You see people like her cannot bring themselves to say “its going down” The most they can say is “It’s stagnant” I can’t be bothered to comment on the rest of the rubbish except that comment about not having to pay school fees for the junior members of her children!!!! Like she is some kind of savvy individual. Ahhh this woman can be most aggravating

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  • Rosie you tease.. i think she is just saying this to giggle at the reaction on HPC. but if her mortgage increase made her property “empire” go tits up it would make my day.

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  • tyrellcorporation says:

    IMHO, this is a highly significant change in sentiment from one of the BIG property cheerleaders. Also, amazingly she’s on an interest only mortgage! I would hazard a guess she’s earns at least £150k a year. If people like this are getting into trouble and cutting back the prospects for the economy are dire. New Labour’s economic mirage is evaporating very fast.

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  • Reading the 3rd paragraph it’s clear that she has no understanding of financial matters. She thinks the reason mortgages are easier to pay off as time goes by is that there is equity in the house! Anyone here ever MEWd to pay the mortgage? There’s also the suggestion that rising house prices for a young couple, not yet having started a family but planning to, are a good thing! If her family house in the area of town where a restaurant starter costs £15 (why not downsize to where the plebs live if you can’t afford where the Joneses live, Rosie?) cost the same as it did when she bought her first house then she wouldn’t be in this problem in the first place.

    The most unnerving thought I had whilst reading this article was that she’s going to write a healthy-living-on-a-budget cookbook. Yuk.

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  • Eastleighfan says:

    In my opinion ,anyone who takes an “interest only ” mortgage , is taking a huge risk . I imagine that the author is fairly inteligent ,so how did she get caught out ?? I am nothing more than a night shelf filler in a “well known supermarket” . I am considered “thick” by most of the population (and they could be right ) , but even I wouldn’t take “interest only” .
    Some people are incredible !!!!!

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  • This is the same Rosie Millard who just last month declared she had “no pity for first time buyers”. She also wrote the “Tales of a Landlady” column in the Times until last October. She owned at least two BTL apartments, probably more (her articles are short on details). Given that she must have all that equity in those BTL flats, how can she be struggling to pay the mortgage on her primary residence now? Could it be that her BTL investments didn’t work out so well after all?

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  • Dazednconfused says:

    I hope she loses everything, the silly moo. Paying for a nanny and a personal trainer and not paying for your house?

    These numpties need to be taught a lesson. A slap around the head with the bankruptcy bat should do it.

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  • The fact she compares buying cheap food with what people went through during the 2nd world war shows just how disconnected this woman is. Hey Rosie ! What exactly is your point ? How relevant is your training for a marathon ? Do we care ? Hmmmmm nope..

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  • drewster, thanks for that link, there’s an excellent comment appended to her the Times article saying:

    ‘You’ll have even less sympathy when a ftb buys one of your properties at the 1994 price.’

    Damn right!

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  • What planet is that woman on !?!!?

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  • Sittingitout says:

    Interestingly, about four years ago, I went overdrawn at the bank which is unusual for me, I checked through my bank statements and did some analysis and found that we’d spent about £750 on the month in Tesco.
    Since that date I’ve run a spreadsheet on everything I spend, just like a profit and loss against a budget running forward for the next 18 months. I’ve noticed very quickly where costs are rising and where to cut back which can only be on non essentials, entertainment, holidays and home improvements. The biggest rise I’ve recently noticed is heating oil – it’s gone up 66% in 12 months!!

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  • sittingitout could you forward your spreadsheet to the BoE so that they actually understand the inflationary risks they are playing with while manipulating the base rate to help the banks rebuild their balance sheets?

    ..no point sending it to GB he’d simply have one of his people look at it, and “viola” the 66% would suddenly be 0.66%. Magic!!!

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  • It seems all the papers must carry their fluffy articles these days – diary of an overpaid “middle class” aspirational. So her bad decisions have got her into trouble. Not that she blames her own decisions – it’s the “cupidity of the banks”. What about her own cupidity?

    @Eastleighfan: I would place more value on what you do than Ms Millard’s trite journalism.

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