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Yeah but nobody takes american express. The tiers are just to make you look more baller as you cut up your coke with it.garethom wrote:WHAT DO THEY WANT FROM ME? I reckon there's some really disheartened call centre people wondering why we wouldn't want to borrow unlimited money from then.
#MiddleClassCred I do have an american express corporate card with no limit if shit ever really hit the fan
Very interesting, especially with them only requiring 5% deposit (could get a single-bedroom place in vaguely central London with a deposit of around 15-20k), though I have a feeling it's going to be hampered by not enough new builds being available (you can only use the scheme for new builds)... the market is already short on supply and far too geared to buy-to-let making prices unrealistic for normal wannabe-homeowners; it certainly sounds like a step in the right direction, but it still strikes me as staving off the inevitable - house prices HAVE to come down eventually to the point that an average earning family can afford to buy an average family home over a period of around 25 years if the market is going to function properly long-term IMHO.Mr Hyde wrote:Taking this thread to new levels of boredom ,what do people reckon to the governemnt's help to buy scheme? https://www.gov.uk/government/uploads/s ... raphic.pdf
I'm guessing that they're trying to boost sales/prices before the next election, seems like it might create an artificial bubble of people being able to buy places that are otherwise too expensive for them to afford (basically being able to get the same sort of mortgages as were around before 2008).magma wrote:Very interesting, especially with them only requiring 5% deposit (could get a single-bedroom place in vaguely central London with a deposit of around 15-20k), though I have a feeling it's going to be hampered by not enough new builds being available (you can only use the scheme for new builds)... the market is already short on supply and far too geared to buy-to-let making prices unrealistic for normal wannabe-homeowners; it certainly sounds like a step in the right direction, but it still strikes me as staving off the inevitable - house prices HAVE to come down eventually to the point that an average earning family can afford to buy an average family home over a period of around 25 years if the market is going to function properly long-term IMHO.Mr Hyde wrote:Taking this thread to new levels of boredom ,what do people reckon to the governemnt's help to buy scheme? https://www.gov.uk/government/uploads/s ... raphic.pdf
Everyone I know that's bought recently (last 5 years) has had some sort of equity share deal whether with the government (key workers) or in one relative's case, the Church!
tl;dr Sticking plasters are all well and good, but the system's broken if average people need help to have a home.
Edit: Just read the guidelines properly... looks like if you're going for an existing home rather than new build, they'll step in to "guarantee" your mortgage in order to get more people through credit checks but just not do any of the lending themselves. Meh - again, sticking plaster.
I'd prefer if the demand for housing was reduced (by spending that governemtn ££ on home building) and the prices became become more afordable. Guess the govenemt doesn't want that though as there is the risk that all existing home owners places might reduce in value, tory voters wouldn't like that at all- so they're just pushing for everyone to be able to get more debt with bigger mortgages than banks would otherwise want to give. Added bonus is it makes for more people working forever and paying their taxes and being docile pay monthly citizens.magma wrote:Yeah, definitely - if you can find a new build, it looks properly tempting.
Do we really want to have to tell our Grandkids that it took a Tory government to get us on the property ladder though?
Tory's want an end to social housing in reality, as long as there is not enough affordable social housing built, buy-to-let will continue to dictate the market, keeping private rents skyhigh, thus pushing houses prices up beyond first time buyers. Labour have promised to build more social housing, so the more opportunity low paid families get to rent affordable and be able to save, the quicker it will bring them private rents down and remove the demand for buy-to-lets. Just have to keep the net migration at a sensible level in line with new homes built.magma wrote:Yeah, definitely - if you can find a new build, it looks properly tempting.
Do we really want to have to tell our Grandkids that it took a Tory government to get us on the property ladder though?
I have never trusted short-term investment schemes.wub wrote:Anyone got any experience of investing in a foundation fund? Ideally looking for info on average rate of return, is it around the 7% mark in any cases?
so probably not the best person to give investment advice if I'm being honest. My ISA is earning me fuckall at the mo' though.Same, plus I'm not sure whether the one I have is illegal anyway seeing as I don't live in the UK anymorePedro Sánchez wrote:My ISA is earning me fuckall at the mo' though.
Global Markets, so it's all bullshit anyway, they are never paying their share of inland taxes. Your ISA account with a US bank on UK soil is being used to invest in an arms firm, that is arming 14 year old militia in North Africa, that want to ethnically cleanse a village, so they can lay pipes for a Saudi oil firm, who has Russian and Chinese investment.wub wrote:Same, plus I'm not sure whether the one I have is illegal anyway seeing as I don't live in the UK anymorePedro Sánchez wrote:My ISA is earning me fuckall at the mo' though.
*ahem* I beg to differ.magma wrote:Everyone I know that's bought recently (last 5 years) has had some sort of equity share deal whether with the government (key workers) or in one relative's case, the Church!