Jerseygirl

Sorry I forgot to say where...I edited my previous post. No it will be in Cheshire.

Nu-Shooz

You posh buggers!!! really expensive there innit?

Jerseygirl

Some places more than others...like everywhere really. One advantage is it's only about 20 mins away from Manchester airport.

BigDavyG

Yep - as long as I keep my job its good news for me
Little sympathy for BTL folks either regardless of their backgrounds - they have taken a gamble and done very well recently so they need to be able to take the good with the bad.
In addition I have general misgivings about anyone who makes money out of residential property - you are making your cash at the expense of your neighbours, so again, imo you deserve little sympathy.

Elvira

But surely there is a need for rental property, and thus landlords - not everyone wants or is able to buy.

BigDavyG

One would assume that it becomes a problem when 90% of the population want to have a go at being a landlord.
Of course its somewhat unfortunate that this role used to be handled by the state in many cases, then maggie decided to buy a few votes and use people's taxes so sell houses to people who pay less tax, and in many cases actually take more from the system than they paid in.

Sally

What I find crazy is the government now paying private landlords who have bought up council houses the rent for their tenants.

BigDavyG

Yep - kind of like any form of privatisation really - if the government can't find the right people to run it efficiently and profitably themselves then they shouldn't be in government.
To take the thread completely off on a tangent why is it seemingly acceptable that year on year the rate of sickness amongst public sector workers massively outstrips that in the private sector ?? :curse:

dunroving

Maybe the job security is greater so they don't care? (complete off-the-wall idea).

Sally

Dunno but I certainly got fed up covering for people on the 'sick'.

rabsody

Not just the sickness, the productivity level is shocking! I did a year in govt. and I just had to get out before I lost my mind. It was the first time I had ever heard an employee say outright to their manager that they were not doing something as it was not in their job description

BigDavyG

Here's an interesting article - I wonder how many times this has happened recently...
http://news.bbc.co.uk/1/hi/business/7030723.stm
The tenants have perpetuated a fraud motivated by what I can only describe as greed (they are on benefits - was that not enough free stuff for them ??). If they had wanted to leave the house to their kids the kids could have bought it on their behalf (happens a lot) - unless of course the kids are dole spongers too (ok - so I have no idea what age the kids are).
The tenants were clearly encouraged to make the purchase and commit the fraud by the mortgage company who will no doubt now be the proud possessors (no pun intended) of an ex-council house purchased at a massive discount.
Will anyone be prosecuted over this - unlikely.
Who loses out - well the mortgage firm get the house at a nice discount for minimal risk, the tenants will no doubt get a new house (and maybe have to pay some fines at 50p a week out of their benefits), but joe taxpayer sees yet another state owned asset sold off at a massive discount.

Sally

"Despite being in their late 50s, on benefits and in poor health, David and Maureen Bradbury were given a 25-year mortgage worth £55,000 by London and Scottish Bank."

Absolutely criminal.

dunroving

The 11% interest rate is the really criminal part. :curse:

A couple were interviewed on BBC news earlier, similar situation except the guy was employed. Apparently they were told the monthly payments would not go above 400, but after 3 months they went up to 700 and then later on to 900. This just doesn't make sense to me. At current tracker rates, that would be what you'd pay on a mortgage of about 130k, but this was just a pokey little terrace. Plus, I just don't see how mortgage payments would more than double in a few months ...

I think the financial services industry has a lot to answer for over the last few years, with endowment mis-selling, ramping up stock prices in the 90's, and now the crazy housing/motgage situation.

krizzy

Payments can double and more because of escrow for taxes...we could not keep up with ours or change to a non tax escrow loan so we paid the house off...some places want to hold $2k or more in escrow for your taxes at all times...even the day after payout...