Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Field Marshal Dr. Opti on 07 August 2013, 18:38:06
-
Mark Carney, the 'big swinging dick' at the Bank of England has given an assurance that interest rates will stay low for the next few years.
Good news for business and people with a mortgage, although savers will obviously be less well pleased.
The current rate of 0.5% has been in force since 2009 :y. My mortgage is 4.49% :(.........So, for all his power and influence, it doesn't look as though 'Big Mark' can stop the banks from screwing us all. :-\
-
Well, I'm going to be a complete and utter selfish B*&%^d here. I'd like him to put the base rate up till the pips squeek.
I don't have a mortgage. If/When I sell my house I will have savings for which I will require a decent rate. For a living I import, so the low interest rate keeps the £ low against the $ and the € so my gross profits get squeezed. What else, quite a few other things.
I'm not even sure what the reason is for such a low rate. Yes of course UK companies like it, it saves them money on loans, it does not follow that the saving gets spent on investment or employing people.
I am not suggesting a return to the rates in the 80's of 17%, but .05% is just silly. Has it achieved anything ?
And let's have a go at the banks and credit card companies. Most cards charge around 15%-17%, quite a few are in the 40% brackets, and what about payday outfit like Wonga with their 3,000% - 4,000% ? Remember base rate is 0.5% !
They need to go up, probably to maybe 2.5% at first, then just a bit more.
When SWMBO and I bought our first place we were paying 16% !
-
Well, I'm going to be a complete and utter selfish B*&%^d here. I'd like him to put the base rate up till the pips squeek.
I don't have a mortgage. If/When I sell my house I will have savings for which I will require a decent rate. For a living I import, so the low interest rate keeps the £ low against the $ and the € so my gross profits get squeezed. What else, quite a few other things.
I'm not even sure what the reason is for such a low rate. Yes of course UK companies like it, it saves them money on loans, it does not follow that the saving gets spent on investment or employing people.
I am not suggesting a return to the rates in the 80's of 17%, but .05% is just silly. Has it achieved anything ?
And let's have a go at the banks and credit card companies. Most cards charge around 15%-17%, quite a few are in the 40% brackets, and what about payday outfit like Wonga with their 3,000% - 4,000% ? Remember base rate is 0.5% !
They need to go up, probably to maybe 2.5% at first, then just a bit more.
When SWMBO and I bought our first place we were paying 16% !
When we bought our first house in 1990 the interest rate was 15%... :o :o
We had a 100% mortgage ( try getting one of those in 2013) so paid 16.5% for the first year. It's all relative though, because nobody could afford to buy a house today at those rates.
-
Well, I'm going to be a complete and utter selfish B*&%^d here. I'd like him to put the base rate up till the pips squeek.
I don't have a mortgage. If/When I sell my house I will have savings for which I will require a decent rate. For a living I import, so the low interest rate keeps the £ low against the $ and the € so my gross profits get squeezed. What else, quite a few other things.
I'm not even sure what the reason is for such a low rate. Yes of course UK companies like it, it saves them money on loans, it does not follow that the saving gets spent on investment or employing people.
I am not suggesting a return to the rates in the 80's of 17%, but .05% is just silly. Has it achieved anything ?
And let's have a go at the banks and credit card companies. Most cards charge around 15%-17%, quite a few are in the 40% brackets, and what about payday outfit like Wonga with their 3,000% - 4,000% ? Remember base rate is 0.5% !
They need to go up, probably to maybe 2.5% at first, then just a bit more.
When SWMBO and I bought our first place we were paying 16% !
Totally agree. The 'spiv element' is alive and well in the shady world of banking. >:(
-
There are many caveats to what he said on interest rates, so if inflation rises to an unacceptable level then interest rates will have to go up.
With many basics like energy still going up as part of this Governments / EU expensive energy policy, then don't be surprised if inflation does reach high levels as the economy begins to grow and companies start to increase prices to restore their profit margins.
Anyway how did we get into the boom and bust cycle. Oh thats right excessive borrowing. So where the Government wants a feel good factor for the 2015 elections are we at the start of another debt fuels growth credit bubble?
With the Government underwriting 20% of a 25% deposit to buy property and mortgage lenders 75% so that is 95% of the value of a property, what could possibly go wrong? :o :o :o :o PS: Don't ask Fanny May or Freddy Mac.
When rates do start to rise then the fallout from those that have over borrowed will start.
-
Still continuing with QE too. £375 billion. :o :o
The exchange rate with the euro improved very slightly on the news but lets face it there isn't much to choose between them. :'(
-
There are many caveats to what he said on interest rates, so if inflation rises to an unacceptable level then interest rates will have to go up.
With many basics like energy still going up as part of this Governments / EU expensive energy policy, then don't be surprised if inflation does reach high levels as the economy begins to grow and companies start to increase prices to restore their profit margins.
Anyway how did we get into the boom and bust cycle. Oh thats right excessive borrowing. So where the Government wants a feel good factor for the 2015 elections are we at the start of another debt fuels growth credit bubble?
With the Government underwriting 20% of a 25% deposit to buy property and mortgage lenders 75% so that is 95% of the value of a property, what could possibly go wrong? :o :o :o :o PS: Don't ask Fanny May or Freddy Mac.
When rates do start to rise then the fallout from those that have over borrowed will start.
+1 I think a huge amount of people are in for a very big shock........ :( :(
-
There are many caveats to what he said on interest rates, so if inflation rises to an unacceptable level then interest rates will have to go up.
With many basics like energy still going up as part of this Governments / EU expensive energy policy, then don't be surprised if inflation does reach high levels as the economy begins to grow and companies start to increase prices to restore their profit margins.
Anyway how did we get into the boom and bust cycle. Oh thats right excessive borrowing. So where the Government wants a feel good factor for the 2015 elections are we at the start of another debt fuels growth credit bubble?
With the Government underwriting 20% of a 25% deposit to buy property and mortgage lenders 75% so that is 95% of the value of a property, what could possibly go wrong? :o :o :o :o PS: Don't ask Fanny May or Freddy Mac.
When rates do start to rise then the fallout from those that have over borrowed will start.
+1 I think a huge amount of people are in for a very big shock........ :( :(
I think we need a bit of a reality check. The trouble is the government (ANY government) doesn't like the short term consequences.
-
My mortgages are 1% above the base rate, so I'm a happy boy today!! :y
-
My mortgages are 1% above the base rate, so I'm a happy boy today!! :y
I need to discuss my rate, or change, given this news........ :y
-
My mortgages are 1% above the base rate, so I'm a happy boy today!! :y
Mines 0.2 over base 8) :y
-
Mine's 6.19%. You gits. ;D
-
Mine's 6.19%. You gits. ;D
So is mine, but its about to fall to 3.9% :D
-
Pay off what you can,while you can.Once the rates start to rise in the next few years,things will get very tight for an awful lot of people. ;)
-
Pay off what you can,while you can.Once the rates start to rise in the next few years,things will get very tight for an awful lot of people. ;)
I've gone fixed for 5 years :)
-
And what do you think is going to happen in 5 years time ? ;)
-
And what do you think is going to happen in 5 years time ? ;)
Go up, no doubt. But with it being fixed I've nothing to worry about for 5 years. With any luck I'll over-pay during this next period
-
And what do you think is going to happen in 5 years time ? ;)
If what some people seem to be wishing for happens, I'll probably be homeless. You've all got a spare sofa, right? ;)
-
Im not wishing one way or the other,as it doesn't really affect me directly one way or the other.No mortage and no savings with a bank.
Its inevitable though that a lot of people are going to kid themselves that interest rates are going to stay at almost zero for evermore.
Those people are going to have their world turned upside down when they start rising.
The stock market has performed very well in the last couple of yeas or so.Thats the place to put some money imo. But,dont just jump in,do the homework first.
-
I didn't specifically mean you, Albs, with the 'wishing' comment ;) There's a lot of it in the press, for a start..
I've never really had the cajones to play the stock market - I keep an eye on things (largely because I do get allocated shares in the company I work for) and while I think, anecdotally, that I could have made money by investing certain places.. I'm also pretty sure I'd have lost at least as much investing in other companies :-[
Financial markets genius I am not ;D
My pension plan is (touch wood, at the moment, etc) doing alright though so clearly someone out there knows where to stick their money! Although I know many people who have been considerably less lucky and are now sitting on pensions worth far less than they've paid in, which must be an awful situation to be in when you're approaching what you thought was retirement age.
I'll just keep stuffing mine under the mattress.. unless the kittens start shredding that, too ;D
-
Im not wishing one way or the other,as it doesn't really affect me directly one way or the other.No mortage and no savings with a bank.
Its inevitable though that a lot of people are going to kid themselves that interest rates are going to stay at almost zero for evermore.
Those people are going to have their world turned upside down when they start rising.
The stock market has performed very well in the last couple of yeas or so.Thats the place to put some money imo. But,dont just jump in,do the homework first.
With *uck all in the way of interest from the banks, classic cars are becoming a popular investment opportunity.
I understand ( from reading the classic car mags) that prices for the Lotus Carlton and the Esprit V8 are due to go into imminent overdrive.
Just look at the price of a MK1 Lotus Cortina.....£40,000......or even more crazy, a MK1 Escort Twin Cam.....£55,000. :o :o
-
I didn't specifically mean you, Albs, with the 'wishing' comment ;) There's a lot of it in the press, for a start..
I've never really had the cajones to play the stock market - I keep an eye on things (largely because I do get allocated shares in the company I work for) and while I think, anecdotally, that I could have made money by investing certain places.. I'm also pretty sure I'd have lost at least as much investing in other companies :-[
Financial markets genius I am not ;D
My pension plan is (touch wood, at the moment, etc) doing alright though so clearly someone out there knows where to stick their money! Although I know many people who have been considerably less lucky and are now sitting on pensions worth far less than they've paid in, which must be an awful situation to be in when you're approaching what you thought was retirement age.
I'll just keep stuffing mine under the mattress.. unless the kittens start shredding that, too ;D
But the parasite fund managers still get their cut. >:(
-
If you have savings where do you put them?
1. Inflation for the past few years has been running at an average of 2% above the 2% target. This has now been loosened to 2.5% in Carnage Carney's BOE report, which suggests 4.5% inflation.
2. Interest from banks is in the 0.25-0.5% range pre-tax, so their value is going to drop by at least 4% a year. The Government through ZIPR and high inflation are stealing the value of your savings.
3. Gilts - Market rigged by the Government with QE. Once QE is withdrawn or in the US even a hint of reducing it then the price drops as the market is less rigged. When they drop you make losses, plus they currently pay between 2 and 3%, so the Government is stealing by stealth the value of your money.
4. Equities are overbought and there will be a market correction in the not too distant future, probably on the back of more bad Eurozone news. The PE ratio is currently far too high this suggests a correction in the order of about 25%. Again all that QE money has created and inflated the bubble so another rigged market.
5. Gold, this is currently dropping, but if you do have a punt make sure it is real physical gold, not a worthless piece of paper saying you are entitled to x amount of gold. Physical gold is ALWAYS more expensive than paper gold. Where Germany has asked for its gold back from the US it is going to take them 7 years to get it back. The rumour is that is has been leant out as this is a way for banks / central banks to make money from it. So will there be a shortage and the price goes up again, who knows?
6. UK Property, personally I think this is one of the better prospects at the moment. With an expected 5% per year house price inflation, buying your first house or trading up to a larger one or purchasing a BTL as part of a pension plan, may be a good move. I was going to sell my house as part of moving to the Ukraine, but I'm now looking at renting it. Where I live there is a shortage of property, so prices are going up and normally a house will rent in under 5 days from being placed on the market. The Government is relying on rising house prices and economic growth to provide a 2015 feel good election victory. Many people think house prices are about 25% too high, but I think with the norm of 2 working in a couple / family home this has changed the amount that they can borrow and supply and demand is well and truly on the demand side at the moment.
7. Pensions unless you are a higher rate tax payer then after Gordon Brown's tax raid on them and the high fees then they are IMHO probably a bad investment. In my view I made a big mistake putting a lot of money into various pensions when I was young and much richer, I did almost in the early 1990's buy 2 BTL properties which is what I should have done. They would be worth far more in capital and income terms than my pension will be. Personally, these days I would rather pay the tax and be free to invest the money where I want to rather than it being locked into a pension fund with much less flexibility. 1-1.5% may not seem like much in the way of fees per year on your pension, but over 40 years it is a considerable part of your pension pot, especially when investment funds are static or dropping, like we have had over the last 13 years in the UK.
These are just my personal thoughts, so please don't consider them any sort of investment advice, as they are not. You need to decide your own investment strategy and take appropriate professional advice.
-
There's a property boom starting to gather pace in the US. When I was there, there was lots of talk on TV etc about investing in and renovating properties. Lots of building plots for sale as well and in some pretty nice locations, lake shore, beach front etc!! :)
I saw one development offering 100% finance! :o In the rush to grab a slice of the action they've already forgotten Freddie and Fanny... Who?? ::) ;D
Still where the Yanks go we usually follow.... ;) As long as our banks don't get taken in again by their dodgy mortgage backed investments! ::)
-
There's a property boom starting to gather pace in the US. When I was there, there was lots of talk on TV etc about investing in and renovating properties. Lots of building plots for sale as well and in some pretty nice locations, lake shore, beach front etc!! :)
I saw one development offering 100% finance! :o In the rush to grab a slice of the action they've already forgotten Freddie and Fanny... Who?? ::) ;D
Still where the Yanks go we usually follow.... ;) As long as our banks don't get taken in again by their dodgy mortgage backed investments! ::)
http://www.reuters.com/article/2013/08/08/us-usa-fanniemae-results-idUSBRE9770JL20130808
Maybe there's hope for RBS yet! :)
-
If you have savings where do you put them?
I was recently talking to a sensible decent estate agent, who told me the following if you have about £100k to invest.
The local authorities allow around £1,000 per month for housing a single mum with child. So,landlords are happy to charge that £1,000 per month. Buy a cheap flat in a not-so-good area of London for around £100k or even less. Et voila a 10% gross return, get a management company to deal with everything for you. Better than a building society or whatever. The property is unlikely to increase in value much, but still remains as a saleable asset.
Since I was first told this, I have found quite a few people who actually do it, very profitably. Now where's that odd £100k I had lying around . . . . . ? ::)
-
...
Now where's that odd £100k I had lying around . . . . . ? ::)
Bugger! I must've left in the back pocket of my other jeans! ;D ;D ;D
-
If you have savings where do you put them?
I was recently talking to a sensible decent estate agent, who told me the following if you have about £100k to invest.
The local authorities allow around £1,000 per month for housing a single mum with child. So,landlords are happy to charge that £1,000 per month. Buy a cheap flat in a not-so-good area of London for around £100k or even less. Et voila a 10% gross return, get a management company to deal with everything for you. Better than a building society or whatever. The property is unlikely to increase in value much, but still remains as a saleable asset.
Since I was first told this, I have found quite a few people who actually do it, very profitably. Now where's that odd £100k I had lying around . . . . . ? ::)
Problem is, there's a shortage of that type of property around here, despite lots of demand for it. The developers seem bent on building 4 bedroom detached houses (that seems to mean you can just about get a Rizla paper between them) with no garden and minimal parking in really cluttered developments, then they wonder why they aren't selling well at £450K. ::)
-
If you have savings where do you put them?
I was recently talking to a sensible decent estate agent, who told me the following if you have about £100k to invest.
The local authorities allow around £1,000 per month for housing a single mum with child. So,landlords are happy to charge that £1,000 per month. Buy a cheap flat in a not-so-good area of London for around £100k or even less. Et voila a 10% gross return, get a management company to deal with everything for you. Better than a building society or whatever. The property is unlikely to increase in value much, but still remains as a saleable asset.
Since I was first told this, I have found quite a few people who actually do it, very profitably. Now where's that odd £100k I had lying around . . . . . ? ::)
Problem is, there's a shortage of that type of property around here, despite lots of demand for it. The developers seem bent on building 4 bedroom detached houses (that seems to mean you can just about get a Rizla paper between them) with no garden and minimal parking in really cluttered developments, then they wonder why they aren't selling well at £450K. ::)
:y :y :y :y
Went to a big new development in Bicester, show homes I thought felt really small. The 5 bedroom ones cost around £500k, the living room was tiny! Maybe fit 2 x 2 seater sofa + TV at best, seriously small.
Then look at the main build areas, and its a concrete jungle, houses squeezed in, some had balcony's looking out basically onto the giant car parks behind the houses ???
Once filled up with cars, 3 bins per household its going to be a sight and smell to see :o
That's why I much prefer older houses, 1920's to 1960's ish, decent sized rooms, with high ceilings and decent garden.
-
If you have savings where do you put them?
I was recently talking to a sensible decent estate agent, who told me the following if you have about £100k to invest.
The local authorities allow around £1,000 per month for housing a single mum with child. So,landlords are happy to charge that £1,000 per month. Buy a cheap flat in a not-so-good area of London for around £100k or even less. Et voila a 10% gross return, get a management company to deal with everything for you. Better than a building society or whatever. The property is unlikely to increase in value much, but still remains as a saleable asset.
Since I was first told this, I have found quite a few people who actually do it, very profitably. Now where's that odd £100k I had lying around . . . . . ? ::)
I would be amazed if you could buy any type of flat anywhere in London for £100k. :-\
-
If you have savings where do you put them?
I was recently talking to a sensible decent estate agent, who told me the following if you have about £100k to invest.
The local authorities allow around £1,000 per month for housing a single mum with child. So,landlords are happy to charge that £1,000 per month. Buy a cheap flat in a not-so-good area of London for around £100k or even less. Et voila a 10% gross return, get a management company to deal with everything for you. Better than a building society or whatever. The property is unlikely to increase in value much, but still remains as a saleable asset.
Since I was first told this, I have found quite a few people who actually do it, very profitably. Now where's that odd £100k I had lying around . . . . . ? ::)
I would be amazed if you could buy any type of flat anywhere in London for £100k. :-\
Rightmove seems to suggest there are a few - probably in places I wouldn't want to drive through, let alone live, though ;D and I've no idea how large it's idea of 'London' is: http://www.rightmove.co.uk/property-for-sale/find.html?searchType=SALE&locationIdentifier=REGION%5E87490&insId=3&radius=0.0&displayPropertyType=flats&minBedrooms=1&maxBedrooms=&minPrice=&maxPrice=100000&retirement=&partBuyPartRent=false&maxDaysSinceAdded=&_includeSSTC=on&sortByPriceDescending=&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=flats&oldPrimaryDisplayPropertyType=&newHome=&auction=false
-
:y :y :y :y
Went to a big new development in Bicester, show homes I thought felt really small. The 5 bedroom ones cost around £500k, the living room was tiny! Maybe fit 2 x 2 seater sofa + TV at best, seriously small.
Then look at the main build areas, and its a concrete jungle, houses squeezed in, some had balcony's looking out basically onto the giant car parks behind the houses ???
Once filled up with cars, 3 bins per household its going to be a sight and smell to see :o
That's why I much prefer older houses, 1920's to 1960's ish, decent sized rooms, with high ceilings and decent garden.
Yep, they have just built umpteen 4 and 5 bedroom houses on an old garage forecourt near me. 5 bedroom places have a parking space and a garage, the rest have pretty much 1 parking spot per house, as far as I can see. No storage for bins at all. The development is so packed-in that the bin lorry has to pull over outside, blocking an A road, while the crew run all over the development looking for bins. ::)
Surely a typical 4 bedroom house is going to have a 2 car family plus a 3rd car for a teenage kid before you consider people coming to visit, etc. Developments like this seem to get rubber-stamped by central government even if the local planning guys object, as it fits in line with the government's "pile the peasants high" central planning policy. >:(
-
Bear in mind Rog that your 'sensible decent estate agent' ultimately wants to sell you a property, so will paint a rosy picture of being a landlord! ::)
There are areas of the UK where you can achieve 10% and more on your investment, however I have my doubts whether you can in London, the South East or the South in general.... :-\ The high yielding properties will generally be in run down, neglected and deprived areas, where the properties are cheap and the risk of bad tenants is higher. The risk/return ratio is just as important in property investment as it is in stocks and shares! ;)
Managing agents are fine when it comes to collecting the rent and charging their commission, but when it comes to dealing with a bad tenant they generally are useless beyond writing a letter or two.... :-\ The other thing with agents is when you need repairs done they will often charge 10% of the cost as a management fee so there is no incentive for them to get a decent price for the work. I had a quote of £1000 from an agent once for a roof repair and when I told him I'd find my own roofer he magically found another who did the work for £500! >:(
I've rented to a few single Mum's over the years and in my experience the girls are usually OK. It's the arsehole blokes that they hang around with that cause the problems in terms of antisocial behaviour, damage to the property and rent arrears cause they've spent their girlfriends rent money on booze and drugs etc etc >:(
Property investment can be a good way to make money, but it is far from hassle free!! ;)
-
Yep, they have just built umpteen 4 and 5 bedroom houses on an old garage forecourt near me. 5 bedroom places have a parking space and a garage, the rest have pretty much 1 parking spot per house, as far as I can see. No storage for bins at all. The development is so packed-in that the bin lorry has to pull over outside, blocking an A road, while the crew run all over the development looking for bins. ::)
I wonder if the amount of development near you is in any way related to this article .. or, rather, if this article was in any way paid for by a developer ;D - http://www.dailymail.co.uk/money/mortgageshome/article-2387600/The-hidden-gem-towns-trade-bigger-property.html
Alton, Hampshire
This market town is an hour from London Waterloo by rail. An average-sized four-bedroom property is £415,763, while in better known Farnham, nine miles away, it rises to £636,708, says home.co.uk.
Adam Masters, at Hamptons International, Alton, says: ‘There are fantastic schools such as Lord Wandsworth, Eggars, Amery Hill and Alton College.’
Hamptons has
Be prepared for a sudden inrush of Mail readers, Kevin.. ;D
-
Bear in mind Rog that your 'sensible decent estate agent' ultimately wants to sell you a property, so will paint a rosy picture of being a landlord! ::)
There are areas of the UK where you can achieve 10% and more on your investment, however I have my doubts whether you can in London, the South East or the South in general.... :-\ The high yielding properties will generally be in run down, neglected and deprived areas, where the properties are cheap and the risk of bad tenants is higher. The risk/return ratio is just as important in property investment as it is in stocks and shares! ;)
Managing agents are fine when it comes to collecting the rent and charging their commission, but when it comes to dealing with a bad tenant they generally are useless beyond writing a letter or two.... :-\ The other thing with agents is when you need repairs done they will often charge 10% of the cost as a management fee so there is no incentive for them to get a decent price for the work. I had a quote of £1000 from an agent once for a roof repair and when I told him I'd find my own roofer he magically found another who did the work for £500! >:(
I've rented to a few single Mum's over the years and in my experience the girls are usually OK. It's the arsehole blokes that they hang around with that cause the problems in terms of antisocial behaviour, damage to the property and rent arrears cause they've spent their girlfriends rent money on booze and drugs etc etc >:(
Property investment can be a good way to make money, but it is far from hassle free!! ;)
Yes of course, and absolutely understood, but I try to keeps things short.
Some authorities now pay the landlord or the agent direct for exactly the reasons you state.
An interesting thing is that in my area the rental income is the about same for a nice flat in a nice area with good professional tentants as it is for some s%^&hole in a crap area with DSS tenants. The difference for the landlord is that the first property costs at least £200+ the second costs £100k or even less.
-
Yep, they have just built umpteen 4 and 5 bedroom houses on an old garage forecourt near me. 5 bedroom places have a parking space and a garage, the rest have pretty much 1 parking spot per house, as far as I can see. No storage for bins at all. The development is so packed-in that the bin lorry has to pull over outside, blocking an A road, while the crew run all over the development looking for bins. ::)
I wonder if the amount of development near you is in any way related to this article .. or, rather, if this article was in any way paid for by a developer ;D - http://www.dailymail.co.uk/money/mortgageshome/article-2387600/The-hidden-gem-towns-trade-bigger-property.html
Alton, Hampshire
This market town is an hour from London Waterloo by rail. An average-sized four-bedroom property is £415,763, while in better known Farnham, nine miles away, it rises to £636,708, says home.co.uk.
Adam Masters, at Hamptons International, Alton, says: ‘There are fantastic schools such as Lord Wandsworth, Eggars, Amery Hill and Alton College.’
Hamptons has
Be prepared for a sudden inrush of Mail readers, Kevin.. ;D
Gawd'elp us! Send them to Huntingdon.
Alton, Hampshire
This market town is an hour from London Waterloo by rail.
(https://dl.dropboxusercontent.com/u/26795734/Smilies/rofl.gif)
They haven't experienced South West trains' service very recently, then. More like an hour and a half now, although it was comfortably under the hour back in the late '90's. Progress, you see. ::)
Hamptons has a four-bedroom home in Ings Close for £489,950.
No they don't. Do you think they mean Maltings Close? ;D
Still, if it sells a few papers...
-
I would be amazed if you could buy any type of flat anywhere in London for £100k. :-\
You certainly can, but you would not want to voluntarily live in it ???
-
They haven't experienced South West trains' service very recently, then. More like an hour and a half now, although it was comfortably under the hour back in the late '90's. Progress, you see. ::)
An hour and a half, you say? Then all the underground travel once you're there. Must be wonderful having a three hour commute if you're travelling in to the smoke, eh! Rather them than me.
Although if there was space for a double garage, I'd actually quite like this property: http://www.rightmove.co.uk/property-for-sale/property-26980005.html
Though it seems like anywhere worth moving for would be well outside my price range (unless Amy gets a serious pay hike from minimum wage ;D).. Like this (http://www.rightmove.co.uk/property-for-sale/property-42286616.html?premiumA=true) or this (http://www.rightmove.co.uk/property-for-sale/property-41654525.html)
-
That's why I much prefer older houses, 1920's to 1960's ish, decent sized rooms, with high ceilings and decent garden.
Me too. My current house just put up for sale is quite new, built around 1905, the one I want to buy is not so new, built around 1870 ish ;D
-
:y :y :y :y
Went to a big new development in Bicester, show homes I thought felt really small. The 5 bedroom ones cost around £500k, the living room was tiny! Maybe fit 2 x 2 seater sofa + TV at best, seriously small.
Then look at the main build areas, and its a concrete jungle, houses squeezed in, some had balcony's looking out basically onto the giant car parks behind the houses ???
Once filled up with cars, 3 bins per household its going to be a sight and smell to see :o
That's why I much prefer older houses, 1920's to 1960's ish, decent sized rooms, with high ceilings and decent garden.
Yep, they have just built umpteen 4 and 5 bedroom houses on an old garage forecourt near me. 5 bedroom places have a parking space and a garage, the rest have pretty much 1 parking spot per house, as far as I can see. No storage for bins at all. The development is so packed-in that the bin lorry has to pull over outside, blocking an A road, while the crew run all over the development looking for bins. ::)
Surely a typical 4 bedroom house is going to have a 2 car family plus a 3rd car for a teenage kid before you consider people coming to visit, etc. Developments like this seem to get rubber-stamped by central government even if the local planning guys object, as it fits in line with the government's "pile the peasants high" central planning policy. >:(
Blame two jags as he changed the planning rules so developers only need to cater for one car. It is all part of the last government's war on the motorist and climate change policies. Developers can also develop estates where cars are banned and there are no parking spaces! :o
After seeing the hassles my daughter has where she lives on an estate with this, I would NEVER buy a flat, apartment or house with only one allocated parking space.
-
They haven't experienced South West trains' service very recently, then. More like an hour and a half now, although it was comfortably under the hour back in the late '90's. Progress, you see. ::)
An hour and a half, you say? Then all the underground travel once you're there. Must be wonderful having a three hour commute if you're travelling in to the smoke, eh! Rather them than me.
Although if there was space for a double garage, I'd actually quite like this property: http://www.rightmove.co.uk/property-for-sale/property-26980005.html
Though it seems like anywhere worth moving for would be well outside my price range (unless Amy gets a serious pay hike from minimum wage ;D).. Like this (http://www.rightmove.co.uk/property-for-sale/property-42286616.html?premiumA=true) or this (http://www.rightmove.co.uk/property-for-sale/property-41654525.html)
I used to live in a bungalow up the road from the house in the last link. It has been on the market for a while, and I can see why now. :o
I moved out of Alton to Four Marks due to the lack price of houses with double garages.
-
If you have savings where do you put them?
1. Inflation for the past few years has been running at an average of 2% above the 2% target. This has now been loosened to 2.5% in Carnage Carney's BOE report, which suggests 4.5% inflation.
2. Interest from banks is in the 0.25-0.5% range pre-tax, so their value is going to drop by at least 4% a year. The Government through ZIPR and high inflation are stealing the value of your savings.
3. Gilts - Market rigged by the Government with QE. Once QE is withdrawn or in the US even a hint of reducing it then the price drops as the market is less rigged. When they drop you make losses, plus they currently pay between 2 and 3%, so the Government is stealing by stealth the value of your money.
4. Equities are overbought and there will be a market correction in the not too distant future, probably on the back of more bad Eurozone news. The PE ratio is currently far too high this suggests a correction in the order of about 25%. Again all that QE money has created and inflated the bubble so another rigged market.
5. Gold, this is currently dropping, but if you do have a punt make sure it is real physical gold, not a worthless piece of paper saying you are entitled to x amount of gold. Physical gold is ALWAYS more expensive than paper gold. Where Germany has asked for its gold back from the US it is going to take them 7 years to get it back. The rumour is that is has been leant out as this is a way for banks / central banks to make money from it. So will there be a shortage and the price goes up again, who knows?
6. UK Property, personally I think this is one of the better prospects at the moment. With an expected 5% per year house price inflation, buying your first house or trading up to a larger one or purchasing a BTL as part of a pension plan, may be a good move. I was going to sell my house as part of moving to the Ukraine, but I'm now looking at renting it. Where I live there is a shortage of property, so prices are going up and normally a house will rent in under 5 days from being placed on the market. The Government is relying on rising house prices and economic growth to provide a 2015 feel good election victory. Many people think house prices are about 25% too high, but I think with the norm of 2 working in a couple / family home this has changed the amount that they can borrow and supply and demand is well and truly on the demand side at the moment.
7. Pensions unless you are a higher rate tax payer then after Gordon Brown's tax raid on them and the high fees then they are IMHO probably a bad investment. In my view I made a big mistake putting a lot of money into various pensions when I was young and much richer, I did almost in the early 1990's buy 2 BTL properties which is what I should have done. They would be worth far more in capital and income terms than my pension will be. Personally, these days I would rather pay the tax and be free to invest the money where I want to rather than it being locked into a pension fund with much less flexibility. 1-1.5% may not seem like much in the way of fees per year on your pension, but over 40 years it is a considerable part of your pension pot, especially when investment funds are static or dropping, like we have had over the last 13 years in the UK.
These are just my personal thoughts, so please don't consider them any sort of investment advice, as they are not. You need to decide your own investment strategy and take appropriate professional advice.
8. Collection. I think there will be good money to be made collecting something not in vogue. Antiques are done to death. Stamps? Old cars (Omegas)? Mopeds, Postcards. ideally something that you are going to enjoy collecting and seeing around cluttering up your house for 30 years!
-
That's why I much prefer older houses, 1920's to 1960's ish, decent sized rooms, with high ceilings and decent garden.
Me too. My current house just put up for sale is quite new, built around 1905, the one I want to buy is not so new, built around 1870 ish ;D
1905....Edwardian
1870....Victorian.
-
That's why I much prefer older houses, 1920's to 1960's ish, decent sized rooms, with high ceilings and decent garden.
Me too. My current house just put up for sale is quite new, built around 1905, the one I want to buy is not so new, built around 1870 ish ;D
1905....Edwardian
1870....Victorian.
I see things as follows
1905....Edwardian - Hasn't cost too much in the 18 years we've lived there :y
1870....Victorian. - Going to cost a fortune in repairs etc before even moving in ! :-\
. . . I know, it's my choice I don't have to buy it, but I will, providing repair costs are reflected in purchase price. ??? Who knows about wall stitching ? I'd never heard of it, but I certainly have now
-
Who knows about wall stitching ? I'd never heard of it, but I certainly have now
Is it in any way related to fence crochet?
-
Who knows about wall stitching ? I'd never heard of it, but I certainly have now
Is it in any way related to fence crochet?
No, it's very much more expensive ! ;D
A summary . . . but this is a nice easy brick wall, not odd shaped stones
http://www.youtube.com/watch?v=nCA0Td2cp_k
-
Some authorities now pay the landlord or the agent direct for exactly the reasons you state.
The Local Authorities always used to pay the landlord direct, until 2008 when the Labour government of common sense changed the system so that the housing benefit was paid to the tenant instead. Apparently they wanted people to have more responsibility for their money! ::)
Gradually, they have realised what a mess this has caused and are loosening the rules so that landlords can be paid direct. I just treat everyone the same these days and if they miss a rent payment for whatever reason they get their notice to quit!
I had a young single mum once who was in arrears with her rent as the DSS had put her under a periodic review. I kept phoning the DSS and they kept telling me that they were 'waiting for information', while the girl swore blind that she had sent the forms in. I went to the DSS office and picked up a set of forms then went to the house and asked her to fill them out and I'd drop them back to the office. When I got there the original forms were sat on the table and it was clear that she hadn't touched them! >:(
She got some 'counseling' on why she shouldn't lie to her landlord and waste his time and she didn't last much longer in my house either!! ::)