Reply to: Do a U-turn on tax credits, George Osborne – or you’ll never be prime minister

[OwlHoot]

Low interest rates means low unemployment ..

until the current deflationary spiral starts increasing corporate failures and consequently unemployment.

.. and no-one defaulting on their mortgage.

see above

[AtW]

"By custom and practice, the peers do not challenge financial measures, but Farron has been arguing that the specific tax credits measure was not in the Conservative party manifesto and was even specifically denied by David Cameron in a leaders’ TV election debate, after the Guardian revealed a document leaked by the Lib Dems showing that the government had been considering cuts to tax credits."

Government facing defeat in Lords over tax credits | Politics | The Guardian

What about dividend tax credit removal???

[TykeMerc]

Very thoughtful, you sound very proud of your son; good luck with the PhD, they are not easy...

He's one of three, they're all following their own paths and earning their own way. They don't bleat about how the world owes them anything, even the youngest who was utterly bone idle his entire life now works hard at his apprenticeship as he likes the work and the lads and his boss. He will have no great hassle with the PhD as he's got practical experience in the field of research, although weirdly he will be a Doctor of Engineering (mechanical) after it despite being a Biologist and having no idea how to hold a spanner.

It's not about being thoughtful, it was common sense, the same way my sons Father in Law will do some refurb work on the house they're buying as he's a builder, I had the funds to hand to move things along, if I hadn't then they would have rented somewhere near where they're buying for a few more years. Nothing laudable or special about it.

[PurpleGorilla]

Self made and I'd be more likely to remove my left leg with a rusty machete than to have approached my Mother for money.

Expediency, common sense and economic.
They need to move as his wife has a new job, he's just started a PhD (fully funded, by the industry he's worked in for a couple of years since graduating) and their current location has an annoying and expensive commute for both of them. They were looking at places to rent and options to buy and I offered. They would have had the deposit built up between them in a few years anyway, I just shortcut that process.
Now if they had wanted to move to the area of Lancashire where her parents live I could have bought an entire street outright for cash with that deposit money and still had change a couple of years ago.

Very thoughtful, you sound very proud of your son; good luck with the PhD, they are not easy...

[BlasterBates]

Thanks for that.

I own a modest house, which may see me there for life, as I am risk averse in comparison to others. If prices crash, and I am in a position to buy, then maybe. Folks that bought in the 90s had it made. Still wiry for the junior doctors with massive debts, shrinking salaries, and without BOMAD gifts. Still it is important we look after Chinese property investors before our citizens...

A junior Doctor can afford a modest home in the same way that junior Doctors could afford modest homes in the past.

My father rented until he became a consultant i.e. just before he turned 40, so it was, so it is and so it will be.

[TykeMerc]

Self made - no help. I respect that.

How come you are loaning you son money? Don't you want him to make it on his own?

Self made and I'd be more likely to remove my left leg with a rusty machete than to have approached my Mother for money.

Expediency, common sense and economic.
They need to move as his wife has a new job, he's just started a PhD (fully funded, by the industry he's worked in for a couple of years since graduating) and their current location has an annoying and expensive commute for both of them. They were looking at places to rent and options to buy and I offered. They would have had the deposit built up between them in a few years anyway, I just shortcut that process.
Now if they had wanted to move to the area of Lancashire where her parents live I could have bought an entire street outright for cash with that deposit money and still had change a couple of years ago.

[PurpleGorilla]

So you want to buy a house.

get a job...

http://http://www.jobsite.co.uk/jobs/it/sheffield/web-developer

save for the deposit

and buy the house

3 bedroom terraced house for sale in Hamilton Road, Firth Park, S5

I see no difference at all between Sheffield in 1988 and Sheffield in 2015, none at all.

Thanks for that.

I own a modest house, which may see me there for life, as I am risk averse in comparison to others. If prices crash, and I am in a position to buy, then maybe. Folks that bought in the 90s had it made. Still wiry for the junior doctors with massive debts, shrinking salaries, and without BOMAD gifts. Still it is important we look after Chinese property investors before our citizens...

[AtW]

Self made - no help. I respect that.

He used CUK sockie bounty blood money from admin to pay his first deposit

[BlasterBates]

So you want to buy a house.

get a job...

http://http://www.jobsite.co.uk/jobs/it/sheffield/web-developer

save for the deposit

and buy the house

3 bedroom terraced house for sale in Hamilton Road, Firth Park, S5

I see no difference at all between Sheffield in 1988 and Sheffield in 2015, none at all.

[PurpleGorilla]

Nope, I worked while I rented, I worked while an Undergrad student too, saved some cash, then I bought a tulipty little terrace 1 bedroom + box room right opposite the Gaol in Stafford. It was cheap, it wasn't a good area, but it got me started on the property ladder.

My wealthy elderly relative left her entire fortune (self made after her husband had frittered the one she inherited away and gone bankrupt then shot himself) to the cat rescue charity she had set up, so no money from her either.
Do you want to make any more unfounded implications while you're at it? Has the monstrous chip you're lugging about got any smaller?
I'm sure plenty of the CUK posters started their property ownership the way I did and plenty more either borrowed or were gifted cash from relatives.
My eldest son and his wife are completing in early November on their first house, I have loaned them a lump of money for their deposit that I was contemplating buying a BTL with

Self made - no help. I respect that.

How come you are loaning you son money? Don't you want him to make it on his own?

[TykeMerc]

So did your mummy and daddy help you buy?

Nope, I worked while I rented, I worked while an Undergrad student too, saved some cash, then I bought a tulipty little terrace 1 bedroom + box room right opposite the Gaol in Stafford. It was cheap, it wasn't a good area, but it got me started on the property ladder.

My wealthy elderly relative left her entire fortune (self made after her husband had frittered the one she inherited away and gone bankrupt then shot himself) to the cat rescue charity she had set up, so no money from her either.
Do you want to make any more unfounded implications while you're at it? Has the monstrous chip you're lugging about got any smaller?
I'm sure plenty of the CUK posters started their property ownership the way I did and plenty more either borrowed or were gifted cash from relatives.
My eldest son and his wife are completing in early November on their first house, I have loaned them a lump of money for their deposit that I was contemplating buying a BTL with

[PurpleGorilla]

In your deluded world maybe, but back on the planet we live on you're just whining impotently.



BTL is largely a symptom of people wanting somewhere relatively safe to invest their cash (pension schemes have been proven wobbly at best) and the extended and practically unique period of microscopic interest rates. If the bank base rate was up at 10% then landlords simply couldn't afford to leverage as they couldn't attract rents big enough to cover the interest.

BOMAD (Bank of Mum and Dad to those of us that aren't acronym obsessed) has always been a factor, if you honestly think it's new then again get a clue. My parents told me they had help from a wealthy relative of my Fathers when they bought their first house, that was 60 years ago, I bet it would be easy to find plenty of similar examples going back many decades.

You're obsessed with blaming everyone else for your own inadequacies, you're clueless.

So did your mummy and daddy help you buy?

[TykeMerc]

Just being honest - and telling it how it is.

In your deluded world maybe, but back on the planet we live on you're just whining impotently.

BOMAD is fueling the problem, as is BTL.

BTL is largely a symptom of people wanting somewhere relatively safe to invest their cash (pension schemes have been proven wobbly at best) and the extended and practically unique period of microscopic interest rates. If the bank base rate was up at 10% then landlords simply couldn't afford to leverage as they couldn't attract rents big enough to cover the interest.

BOMAD (Bank of Mum and Dad to those of us that aren't acronym obsessed) has always been a factor, if you honestly think it's new then again get a clue. My parents told me they had help from a wealthy relative of my Fathers when they bought their first house, that was 60 years ago, I bet it would be easy to find plenty of similar examples going back many decades.

You're obsessed with blaming everyone else for your own inadequacies, you're clueless.

[PurpleGorilla]

Planet real would be a start.

Oh if you're jealous of your mates being gifted money and you not, here's a message TOUGH! Suck it up sunshine, no-one owes you anything.

Just being honest - and telling it how it is.

BOMAD is fueling the problem, as is BTL.

[d000hg]

Single mum - check

Plenty of kids - check

Totally reliant on benefits and thinks tax credits is her income - Check

Looks pig ugly and watches Jeremy Kyle all day - check

What absolute tosh, she is a typical life long Labour voter and I suspect she was planted in there by Labour.

What part of working mother don't you understand? Or maybe it's the "working tax credits" you struggle with?

She has a job so is neither totally reliant on benefits nor at home watching TV.




To my mind, attacking those who complain about losing a tax break due to working tax credit changes is pretty rich from contractors crying about having to pay tax on their income through dividend taxes.