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September 17 2021 4.27am

Buy a House and 'do it up' ?

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View cryrst's Profile cryrst Flag Chatham 28 Jul 21 7.11pm Send a Private Message to cryrst Add cryrst as a friend

Originally posted by croydon proud

Yes, I get you mate, the banker thing was stuck in my head, it was more about the bailout , something I hadn"t mentioned, and that was new Labour I know.Its like, get a great paying stressful job, take the mahessive bonus every 12 months, if it goes tits up, let everyone else in the country bail us out, continue in job, get great bonus! A bit like the member for Medway, jacking in his plumbing/boiler inspecting business, and going gambling with his savings. He gets lucky and wins, wins again, buys a big house and new motor, he"s a success, legend in fact! Then he piles it all on a sure thing, only the horse didn"t fancy it and he lost the lot. Then he cries to the tax paying public and they give him his money back, it was his risk, why should his neighbours pay?

I've been at the bottom CP. In front of a judge who repossed my flat. Me Mrs and kid in temporary accommodation. Beans on toast for a week. No one helped me. Oh I got a £20 crisis loan after 3 visits to the council. That got paid back 11 years later to the tune of £35.
But I got off my sad arse and now I own my home so it is possible. I reckon I am qualified to make the comments I make as been it seen it done it. I can't comment on other posters and their history.
BTW I haven't any savings as such, just a pension and what I live in.
If I get from Jan 1st to December 31st in no worse a position I count that as success. Maybe if others treated life so simply we would have a much better country and attitude towards each other. Not the envy and hate that being rich brings.
I think EDN might see I am that person who wanted it and went and got it through graft and hard work.

Edited by cryrst (28 Jul 2021 7.16pm)

 

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View Badger11's Profile Badger11 Flag Beckenham 28 Jul 21 7.33pm Send a Private Message to Badger11 Add Badger11 as a friend

I think it always was hard to own your own home and sacrifices had to be made. Before the war only the rich could afford it.

Growing up in the sixties and seventies my parents still couldn't afford it and we had a credit squeeze. You had to make nice to the building society manager who was only allowed to make a certain number of loans per month. So even if you had the deposit you were on a waiting list.

The 80 / 90's was the time when we had easy credit so providing you hadn't lost your job it was boom time. Today we are back to the norm you need a large deposit and proof you can pay your mortgage.

In hindsight selling off council houses was a terrible idea because essentially the taxpayer was subsiding a few lucky people whilst removing the opportunity for others to rent.

We need to completely rethink the housing market. In Europe most people rent which is controlled and a long term deal. We have huge pension funds who with the right incentives could become responsible landlords. It wouldn't cost the taxpayer either.

In Austria most domestic property is owned by the bank they get a guaranteed long term income and the citizens have an affordable place to leave.

Property speculation should come with a tax to discourage, overseas investors should be banned etc.

I think if Labour wake up and propose a European style housing rental market this could be a real vote winner.

 


One more point

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View croydon proud's Profile croydon proud Flag Any european country i fancy! 28 Jul 21 7.37pm Send a Private Message to croydon proud Add croydon proud as a friend

Originally posted by cryrst

I've been at the bottom CP. In front of a judge who repossed my flat. Me Mrs and kid in temporary accommodation. Beans on toast for a week. No one helped me. Oh I got a £20 crisis loan after 3 visits to the council. That got paid back 11 years later to the tune of £35.
But I got off my sad arse and now I own my home so it is possible. I reckon I am qualified to make the comments I make as been it seen it done it. I can't comment on other posters and their history.
BTW I haven't any savings as such, just a pension and what I live in.
If I get from Jan 1st to December 31st in no worse a position I count that as success. Maybe if others treated life so simply we would have a much better country and attitude towards each other. Not the envy and hate that being rich brings.
I think EDN might see I am that person who wanted it and went and got it through graft and hard work.

Edited by cryrst (28 Jul 2021 7.16pm)


Glad to see you turned it around mate, tips hat!

 

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View croydon proud's Profile croydon proud Flag Any european country i fancy! 28 Jul 21 7.40pm Send a Private Message to croydon proud Add croydon proud as a friend

Originally posted by Badger11

I think it always was hard to own your own home and sacrifices had to be made. Before the war only the rich could afford it.

Growing up in the sixties and seventies my parents still couldn't afford it and we had a credit squeeze. You had to make nice to the building society manager who was only allowed to make a certain number of loans per month. So even if you had the deposit you were on a waiting list.

The 80 / 90's was the time when we had easy credit so providing you hadn't lost your job it was boom time. Today we are back to the norm you need a large deposit and proof you can pay your mortgage.

In hindsight selling off council houses was a terrible idea because essentially the taxpayer was subsiding a few lucky people whilst removing the opportunity for others to rent.

We need to completely rethink the housing market. In Europe most people rent which is controlled and a long term deal. We have huge pension funds who with the right incentives could become responsible landlords. It wouldn't cost the taxpayer either.

In Austria most domestic property is owned by the bank they get a guaranteed long term income and the citizens have an affordable place to leave.

Property speculation should come with a tax to discourage, overseas investors should be banned etc.

I think if Labour wake up and propose a European style housing rental market this could be a real vote winner.

Sounds a plan Badger, somethings got to give, unless we get used to the more family orientated approach with kids living at home with grandkids and parents, house with granny flat, extensions at side and back, and apartment in roof, not knocking it btw!

 

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View PalazioVecchio's Profile PalazioVecchio Flag south pole 28 Jul 21 7.42pm Send a Private Message to PalazioVecchio Add PalazioVecchio as a friend

Originally posted by Rudi Hedman


And living further away is not always an option or means throwing money away on travel/childcare.

Do we have some of the most expensive public transport in the World ?

and does that drive up prices close to central London ?

 


Eagle with SE19 altitude

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 28 Jul 21 7.53pm Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

Originally posted by Badger11

I think it always was hard to own your own home and sacrifices had to be made. Before the war only the rich could afford it.

Growing up in the sixties and seventies my parents still couldn't afford it and we had a credit squeeze. You had to make nice to the building society manager who was only allowed to make a certain number of loans per month. So even if you had the deposit you were on a waiting list.

The 80 / 90's was the time when we had easy credit so providing you hadn't lost your job it was boom time. Today we are back to the norm you need a large deposit and proof you can pay your mortgage.

In hindsight selling off council houses was a terrible idea because essentially the taxpayer was subsiding a few lucky people whilst removing the opportunity for others to rent.

We need to completely rethink the housing market. In Europe most people rent which is controlled and a long term deal. We have huge pension funds who with the right incentives could become responsible landlords. It wouldn't cost the taxpayer either.

In Austria most domestic property is owned by the bank they get a guaranteed long term income and the citizens have an affordable place to leave.

Property speculation should come with a tax to discourage, overseas investors should be banned etc.

I think if Labour wake up and propose a European style housing rental market this could be a real vote winner.

Only a dishonest person would disagree with this post. Plenty in property would agree with this logic but of course there are also many stubborn people who donít want to know what others think or experience.

 


COYP

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View EverybodyDannsNow's Profile EverybodyDannsNow Flag SE19 29 Jul 21 10.24am Send a Private Message to EverybodyDannsNow Add EverybodyDannsNow as a friend

Originally posted by cryrst

OK not what you want, what you need is probably more true. Mortgages are now available over 50 years with the ability to pay a bit extra each year which reduces the term. That has compensated in some way. Most people have an equal opportunity to be the best they can and get in front of the next person. You do need a little luck as well but you can make your own. If you don't take the opportunity given then who can be blamed. You cherry picked 9 words from over a hundred. Does nothing else I wrote ring true in the slightest.

I just fundamentally disagree - your story about being repossessed and turning it round is genuinely admirable and I have a lot of respect for you because of it, but the fact you were able to do it doesn't mean it's right.

I've been lucky enough to buy my first house this year, a lot earlier than most of my peers, but that was only possible with me and my Mrs both earning above average and working stupidly long hours - just because I've managed to achieve it, it doesn't mean I think it's right that it is that difficult. I've genuinely no idea how you'd even get close on one salary.

The game is fixed, and whilst there is a lot of value in graft and hand work, the narrative that it's all you need to 'succeed' is a complete fantasy and very damaging, in my opinion.

 

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View EverybodyDannsNow's Profile EverybodyDannsNow Flag SE19 29 Jul 21 10.39am Send a Private Message to EverybodyDannsNow Add EverybodyDannsNow as a friend

Originally posted by Badger11

I think it always was hard to own your own home and sacrifices had to be made. Before the war only the rich could afford it.

Growing up in the sixties and seventies my parents still couldn't afford it and we had a credit squeeze. You had to make nice to the building society manager who was only allowed to make a certain number of loans per month. So even if you had the deposit you were on a waiting list.

The 80 / 90's was the time when we had easy credit so providing you hadn't lost your job it was boom time. Today we are back to the norm you need a large deposit and proof you can pay your mortgage.

In hindsight selling off council houses was a terrible idea because essentially the taxpayer was subsiding a few lucky people whilst removing the opportunity for others to rent.

We need to completely rethink the housing market. In Europe most people rent which is controlled and a long term deal. We have huge pension funds who with the right incentives could become responsible landlords. It wouldn't cost the taxpayer either.

In Austria most domestic property is owned by the bank they get a guaranteed long term income and the citizens have an affordable place to leave.

Property speculation should come with a tax to discourage, overseas investors should be banned etc.

I think if Labour wake up and propose a European style housing rental market this could be a real vote winner.

In broad terms, yes, but it's not really acknowledging any detail - deposits are considerably higher, even in real terms, and the level of proof required considerably more.

In 1950s, average household income was around £9k per anuum, and average property price was around £2k.

1960s; average household income around £11k, average property price around £4k.

Average household income now is around £30k, and average property price is ~£250k.

 

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View ASCPFC's Profile ASCPFC Flag Pro-Cathedral/caravan park 29 Jul 21 11.30am Send a Private Message to ASCPFC Add ASCPFC as a friend

Originally posted by Badger11

I think it always was hard to own your own home and sacrifices had to be made. Before the war only the rich could afford it.

Growing up in the sixties and seventies my parents still couldn't afford it and we had a credit squeeze. You had to make nice to the building society manager who was only allowed to make a certain number of loans per month. So even if you had the deposit you were on a waiting list.

The 80 / 90's was the time when we had easy credit so providing you hadn't lost your job it was boom time. Today we are back to the norm you need a large deposit and proof you can pay your mortgage.

In hindsight selling off council houses was a terrible idea because essentially the taxpayer was subsiding a few lucky people whilst removing the opportunity for others to rent.

We need to completely rethink the housing market. In Europe most people rent which is controlled and a long term deal. We have huge pension funds who with the right incentives could become responsible landlords. It wouldn't cost the taxpayer either.

In Austria most domestic property is owned by the bank they get a guaranteed long term income and the citizens have an affordable place to leave.

Property speculation should come with a tax to discourage, overseas investors should be banned etc.

I think if Labour wake up and propose a European style housing rental market this could be a real vote winner.

You make a good point. You wonder why we can't properly legislate for private renting. Loads of other countries do. It would not be making landlords lose, rather they would just make slightly less profit. Both Britain and Ireland have this issue. The longest lease is six months at twice or three times the price of a mortgage.
What I would say is that the current situation looks even worse than the last crash - so happy landings. Don't think there will be any hiding it.

Edited by ASCPFC (29 Jul 2021 11.31am)

 


I used to put the manager's name in front of Red and Blue but got fed up with changing it. If someone cool becomes our manager then maybe..

Red and Blue Army!

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View Rudi Hedman's Profile Rudi Hedman Flag Caterham 29 Jul 21 11.45am Send a Private Message to Rudi Hedman Add Rudi Hedman as a friend

EverybodyDannsNow makes lots of undeniable good points and the current way is going to collapse harder when it inevitably does again.

New Labour and various Tory PMís have failed badly on housing. It really started to get out of control nearly 20 years ago, just as Phil and Kirstie etc were on the tv every single night and became part of conversation and humour for some, although accumulating and letting got going several years before, and of course interest only mortgages.

 


COYP

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View EverybodyDannsNow's Profile EverybodyDannsNow Flag SE19 29 Jul 21 1.08pm Send a Private Message to EverybodyDannsNow Add EverybodyDannsNow as a friend

Originally posted by Rudi Hedman

EverybodyDannsNow makes lots of undeniable good points and the current way is going to collapse harder when it inevitably does again.

New Labour and various Tory PMís have failed badly on housing. It really started to get out of control nearly 20 years ago, just as Phil and Kirstie etc were on the tv every single night and became part of conversation and humour for some, although accumulating and letting got going several years before, and of course interest only mortgages.

The unfortunate reality is neither party have an interest in solving the problem, as the property market is such a huge contributor to the economy, and they'll never make as much from locals as they do from the foreign money coming in.

Honestly, I've no idea how you solve it, but clearly it is a broken system.

 

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View The Dolphin's Profile The Dolphin Flag 29 Jul 21 1.10pm Send a Private Message to The Dolphin Add The Dolphin as a friend

I totally agree with long term rentals with Banks or other such organisations being the Landlords.
We have really screwed up property in the UK - albeit that I am as such a beneficiary of that screw up.
I took my first mortgage in the early 80's when interest rates were 15% but I haven't looked back since.
Others are not so fortunate.
Renting should be seen as a good thing to do although renters need more security but you can't expect private landlords to be told that they can't get a tenant to leave because they either want or need to sell said property.
The rules were wrong before and now they are again - but at the other end of the spectrum!
Long term investors and five year rental periods would make life much better for people.
As for the council house situation under Thatcher - I am a fan of hers - it was dreadful.
Like every government before and since they continue to sell the family silver to make ends meet.
If they ran the Country better they would be able to keep their property portfolio.
Add to that they generally sell everything cheap and the buyer can make an immediate profit so the Country gets done twice!
It will never stop sadly -idiots that they are.

 

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