Originally posted by ItsQuickerAntiClockwise
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Why do papers make out its sad news when the most expensive thing you'll ever buy ...
Collapse
X
-
-
I have some sympathy for people who felt that they had to buy or get left behind and are now up against it (although I still think they should have thought twice), but I have none for the folks who got lucky by buying at the start of the boom and then remortgaged to extract equity to use as deposit for a buy-to-let and then repeated that several times until they had £1 million worth of property and £980k in loans.
It's the inevitable interest rate rises that will bring the real problems.Last edited by doodab; 27 September 2010, 15:09.While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'Comment
-
Originally posted by doodab View Post... I have none for the folks who got lucky by buying at the start of the boom and then remortgaged to extract equity to use as deposit for a buy-to-let and then repeated that several times until they had £1 million worth of property and £980k in loans.
.
HTHHard Brexit now!
#prayfornodealComment
-
Originally posted by sasguru View PostI did that but I don't have the £980K of loans, because I always knew it was a suckers boom so sold the BTLs in 2006 and now live in an eco-shed at the bottom of my parents' garden.
HTH“The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”Comment
-
Originally posted by sasguru View PostI did that but I don't have the £980K of loans, because I always knew it was a suckers boom so sold the BTLs in 2006 and took the profits to pay off the main residence.
HTH
Good move SasGuru ........ now come here you big lug and give us a hug .......Comment
-
-
Originally posted by ItsQuickerAntiClockwise View PostSo what?
The only people who lose out are those who bought at the top end of the market and contributed to the housing bubble by buying at inflated prices with low deposits.
I have zero sympathy for these people.
So still no problem as far as Im concerned.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
-
Originally posted by The_Equalizer View PostTroll or not, in real terms house prices will drop towards the long term average.Job motivation: how the powerful steal from the stupid.Comment
-
Originally posted by d000hg View PostWhy would people only have bought with small deposits during the boom? Many people still put down decent deposits if they could, to get better deals.
I was watching this one couple on Location, Location. 100% mortgage, 250k, combined income for both was £53,000. This was in 2007. They were even going to get a seperate loan in order to kit out the house they bought if they needed all the money for the house itself.
Its idiots like these, not just the banks, which brought us to our knees.
People don't take any personal responsibility for this mess, its easier just to blame 'the banks'.Comment
-
Multi-quote for the win.
Originally posted by MrMark View PostWell I suspect you're right. Trouble is, if prices are declining, people hold off buying, and construction companies (and wine bars) go bust. Someone somewhere gets hurt.
That doesn't make any difference she says becuase if you pay £100k for a house and it falls to £80k all the other £100k houses have fallen and so in real terms you're no worse. Off.
That would be unless I paid £100k for a house I could buy for £80k a few months later in which case I'd be exactly (£20k + interest payments) - rental paid worse off.
Originally posted by ItsQuickerAntiClockwise View PostSo what?
The only people who lose out are those who bought at the top end of the market and contributed to the housing bubble by buying at inflated prices with low deposits. I have zero sympathy for these people.
Originally posted by Ignis Fatuus View PostAnd may I ask, what should someone do who needs a house when the price happens to be high? Also, what size of deposit would you say is not too low?
Originally posted by Jeebo72 View PostOk so you bought your house for 250,000 on a 95% mortgage. have a kiddie. Then you lose your job. Your house is now worth 200,000. Check mate...
Originally posted by sasguru View PostI did that but I don't have the £980K of loans, because I always knew it was a suckers boom so sold the BTLs in 2006 and took the profits to pay off the main residence.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment