BN66 - Time to fight back!!!

[smalldog]

how can you say 1 is true, how the hell do you know what I (we) do or dont understand, not another arrogant tw*t, please!!!!!

[NotAllThere]

how can you say 1 is true, how the hell do you know what I (we) do or dont understand, not another arrogant tw*t, please!!!!!

ooooo. Handbags at thirty paces...

I said I fear that 1 is true. I don't say that it is true. So how that translates to arrogance, I've not a clue.

Given your response, however, which shows you perceive what I've written being of Malvolian arrogance, then I do think that the chances of you understanding "the mechanics of the process you are relying on nor those of your opponents" are somewhat reduced.

The reason I posted was to show that there are people who are broadly sympathetic, don't think you've got a good chance, but don't think you've done anything morally wrong or even silly or misguided.

[DonkeyRhubarb]

It's people who can't afford a CTD who are a bit stuffed then, if it all goes pear shaped.

Not necessarily. I agree that if they had to pay up today they may be in difficulty. But if it drags on for several years that gives them time to make contingencies (eg. save more). For example, I know several people have got property that they would either have to sell or remortgage to meet the bill, and now is not a great time to be doing either.

Even though the interest keeps clocking up, I still think time is of benefit to most people, so if MontP achieve nothing else other than dragging it out a few years, some people might be able to live with that.

Although HMRC's rate is high at 7.5%, it's effect is diminished over time because it is simple interest (ie. no interest on interest).

[smalldog]

Donkey, you hit the nail on the head. I have property I would look for HMRC to either take a second charge or sell and as you say, now is not a good time. Im hedging my bets that say in 3 years things will have turned round and I have growth that matches or exceeds the 7.5% interest. Based on the fact that even in the current climate my flat in Islington has seen a 14% rise in the last 12 months doesnt make that a totally unrealistic prospect and actually gives me a profit of 6.5%

[redkieran]

Slightly off topic - but your flat in Islington has gone up over the past 12 months? I live there too and it looks like everything is going down to me!

I'm overpaying the mortgage, so effectively I'm getting 5.5% net interest on my savings. In a few years that will catch up with the 7.5% simple interest if I have to pay up, and if I don't then it is a better investment than the 1-2% on a CTD.

[DonkeyRhubarb]

I would be interested to know why one person in the poll so far has decided to settle. (Assuming that is a genuine vote of course. )

I can appreciate that some people will prefer to settle and have done with it rather than put up with more years of hassle.

[AlbionRovers]

1st post guys.

I've been with MP for 5 years.
What's the deal with the CTD thing?
How much to keep the wolves from the door?

[smalldog]

Slightly off topic - but your flat in Islington has gone up over the past 12 months? I live there too and it looks like everything is going down to me!

I'm overpaying the mortgage, so effectively I'm getting 5.5% net interest on my savings. In a few years that will catch up with the 7.5% simple interest if I have to pay up, and if I don't then it is a better investment than the 1-2% on a CTD.

I got this info from the BBC link for the borough:

http://news.bbc.co.uk/1/shared/spl/h...es/html/au.stm

last quarter has seen a 1.7% fall but overall a rise for the preceeding 12 months of 14.4% for all property types...and actually flats (which I own) have have seen a 15.8% rise with a 3% rise in the last quarter. This is what I find funny about all the press cuttings, its so regional, even different by borough...granted this was from May but if you look in agents windows and speak to them some areas are still holding up very well. Im right next to Hoxton sq so its a mini economy all of its own round there..be interesting to see what their next quarter figures are which Im guessing will be this week....

sorry off topic

[smalldog]

I would be interested to know why one person in the poll so far has decided to settle. (Assuming that is a genuine vote of course. )

I can appreciate that some people will prefer to settle and have done with it rather than put up with more years of hassle.

BLIMEY!!!! if they have settled its gonna be reallllllllly hard to get that money back even if Montp win the JR..

[elpinar]

sorry - i dont get your interest logic- it'll take you a damn long time to catch up the difference even on simple interest. If you owe them, say, 100k - you still pay 7,500 a year in interest - its just the 7.5k that isnt attracting interest - so the next year it would be 'just' another 7500 rather than 8162 so yes you are saving but you are still stumping up a tidy sum every year