Newbie introducing myself (and asking if now's a good time to buy gold!)

[Bigmarc]

11 minutes ago, katyc said:

That's a really good point actually, makes total sense.

About 15 years ago I lived in a flat in a commuting town for London just outside the M25. I think my mortgage was around £500 to £600 mark per month. The same flat above me lived a polish family paying £900 per month. The guy was a dustman and a pizza delivery driver, his wife had a part time cleaning job and daughter went to school. I often wondered how they could afford to do this but after about 7 years they managed to save enough money to have a home for them built back in Poland for around £40,000. The wife and daughter then moved back and the husband stayed in for another 5 years before returning to his pulley paid up home. 

I think another huge factor is (please correct me if I am wrong) that council houses don't really exist anymore and if you are in need of help you get the money as a form of benifit with the option of topping up the rest of rent yourself. 

[katyc]

15 minutes ago, Bigmarc said:

I think another huge factor is (please correct me if I am wrong) that council houses don't really exist anymore and if you are in need of help you get the money as a form of benifit with the option of topping up the rest of rent yourself. 

Yes, that's exactly right. The Government took away the council houses and then landlords are hated for providing houses and making rent money - but people would be homeless without them!

It's now illegal for landlords to refuse benefits tenants. But at the end of the day a landlord can choose who they think is "right" for the property, so the rule isn't exactly forced on us really. I go with my gut. If someone looks genuine and can provide a guarantor, I'll take them on no matter what they do for a living. But I do go for high quality rentals which generate slightly higher rents, hence usually people who earn a bit more than average for the area (generally, not always). But where I may, for example, make an extra £100 a month compared to a similar property on the same street which isn't refurbished as nice - I do spend 5 to 10k more on my refurbs. So it takes anywhere from 4-10 years for me to get that extra expense back. Which isn't a benefit for me as it is due a refurb by then anyway! So I get maximum rents - but don't actually make more money! I simply do it because I hate that so many landlords out there give us a bad name with disgusting dirty houses with threadbare carpets (plus, of course, I want to attract quality tenants who look after the houses).

As for the Polish, I'm a big fan! I've worked with many over the years. Hard working and polite. I am biased... my partner is Polish (but I thought this before we met, ha ha!) Houses are much cheaper in Poland too. But it's not the concrete jungle people assume it is. Lublin, where my other half is from, is a lovely small aviation town and many locals live on the outskirts in beautiful unique houses with lots of land around them. But yes, house prices are much cheaper over there. I'm even tempted to invest there one day! 😊

 

Edited September 5, 2022 by katyc

[katyc]

42 minutes ago, Bigmarc said:

I think my mortgage was around £500 to £600 mark per month. The same flat above me lived a polish family paying £900 per month.

And this is where another problem lies... it's getting so much harder for the young 'uns to get on the property ladder as prices are hiking so it's harder to get a deposit. This means they have higher overheads, are more skint and it widens the poor/wealthy gap. I do feel the government should do more to help first time buyers. Although, to be fair, they do try at times. But post-covid house prices have gone mental - and I think most of it's down to the Airbnb brigade wanting to cash in on the massive demand on UK holidays. But it doesn't seem fair - they need more houses for residential use or prices will keep rocketing.

There's a huge shortage in residential rentals at the moment because landlords are leaving the market due to the tax changes. An example is they may be bringing in a law that by 2025 all properties must be EPC C or above. But if you have Victorian houses it's actually almost impossible. And they expect you to spend up to 10k improving each. Now imagine having 10 houses and spending 10k on each. You don't have that just sitting in the bank. So landlords are off and the shortage on rentals is really bad at the moment which is driving demand, hence rents, up even more. 

Edited September 5, 2022 by katyc

[katyc]

...and another random thing I realised recently is how debt widens the rich/poor gap further with interest rates. Poorer people who live on the breadline may need payday loans which are charged at insane interest rates. Whereas people in a position to invest (e.g. in property) pay about 3% interest on properties. So the cost of debt is massively imbalanced further widening the rich/poor gap. It's a vicious circle for some people 😔

[Bigmarc]

14 minutes ago, katyc said:

As for the Polish, I'm a big fan!

They are a very house proud nation, you could probably put them in a rundown house and they would turn it around in weeks. 

12 minutes ago, katyc said:

And this is where another problem lies... it's getting so much harder for the young 'uns to get on the property ladder as prices are hiking so it's harder to get a deposit.

The government incentives never last long enough, needs to be set in stone, like a student loan. Kids don't dream about a house from a young age, it just happens, when and if you can afford it. 

 

 

 

[GoldDiggerDave]

4 hours ago, katyc said:

...and another random thing I realised recently is how debt widens the rich/poor gap further with interest rates. Poorer people who live on the breadline may need payday loans which are charged at insane interest rates. Whereas people in a position to invest (e.g. in property) pay about 3% interest on properties. So the cost of debt is massively imbalanced further widening the rich/poor gap. It's a vicious circle for some people 😔

Bingo!  The transfer of wealth 101. 
The poorer are more exposed as a bigger percentage of their income is on fixed outgoings.

Most normal families even those who you think are middle class don’t have £700-£800 spare at the end of the month. We are heading for a very interesting period in our history. 

you just have to make sure you are on the right side of the wealth gap.  

[Petra]

6 hours ago, Bigmarc said:

About 15 years ago I lived in a flat in a commuting town for London just outside the M25. I think my mortgage was around £500 to £600 mark per month. The same flat above me lived a polish family paying £900 per month. The guy was a dustman and a pizza delivery driver, his wife had a part time cleaning job and daughter went to school. I often wondered how they could afford to do this but after about 7 years they managed to save enough money to have a home for them built back in Poland for around £40,000. The wife and daughter then moved back and the husband stayed in for another 5 years before returning to his pulley paid up home. 

I think another huge factor is (please correct me if I am wrong) that council houses don't really exist anymore and if you are in need of help you get the money as a form of benifit with the option of topping up the rest of rent yourself. 

Council house exist, it’s the waiting list that’s the killer

[kimchi]

52 minutes ago, Petra said:

Council house exist, it’s the waiting list that’s the killer

Not like they used to. There were too many in the 70s, early 80s. People who weren't really in need (they could have rented) got them easily. Within a few successive governments people expected them more or less if they wanted one, and got one. Then Thatcher sold them off cheap (like our national utility companies). People loved her for it. Why not when you could buy a nice semi (many of them in our street were pretty nice houses) dirt cheap, and then treble your money in five years?

There are no council houses in that street now. The one closest to where I lived is probably worth half a million currently - as soon as they purchased it for a pittance (because they 'couldn't afford housing except from the council') they extended a bit.

Now look at the housing market and utilities.

[LemmyMcGregor]

16 minutes ago, kimchi said:

Not like they used to. There were too many in the 70s, early 80s. People who weren't really in need (they could have rented) got them easily. Within a few successive governments people expected them more or less if they wanted one, and got one. Then Thatcher sold them off cheap (like our national utility companies). People loved her for it. Why not when you could buy a nice semi (many of them in our street were pretty nice houses) dirt cheap, and then treble your money in five years?

There are no council houses in that street now. The one closest to where I lived is probably worth half a million currently - as soon as they purchased it for a pittance (because they 'couldn't afford housing except from the council') they extended a bit.

Now look at the housing market and utilities.

I'm not a fan of nationalisations, the way I see I wouldn't want to have council houses at all, I find all sort of benefits a disgraceful item as they are built with the middle class money to buy the votes of the working class, all the create is lazyness and divide.

Lazyness as they promote a cheap life at someone's else expenses, divide because I complain that it's coming off my pockets and puts me at odd with whoever receives it as they feel that I want to take it off them, when they don't realise that it's them taking off me.

There is no such a thing as the fair share of what I earned breaking my back.

Want cheap housing? Stop immediately the flow of illegals and remove all regulations, see how prices drop when you don't need licensing and don't have heavy constraints that require you to spend a fortune.

More so, utilities these days cost a mint not because they are private, but because of government interference that with artificial price caps has eliminated all of the small independent business and allowed the few fat cats to turn into a cartel.

[Petra]

23 minutes ago, kimchi said:

Not like they used to. There were too many in the 70s, early 80s. People who weren't really in need (they could have rented) got them easily. Within a few successive governments people expected them more or less if they wanted one, and got one. Then Thatcher sold them off cheap (like our national utility companies). People loved her for it. Why not when you could buy a nice semi (many of them in our street were pretty nice houses) dirt cheap, and then treble your money in five years?

There are no council houses in that street now. The one closest to where I lived is probably worth half a million currently - as soon as they purchased it for a pittance (because they 'couldn't afford housing except from the council') they extended a bit.

Now look at the housing market and utilities.

Round here there are lots of council house, one of the issues though is the people living in them. There are people living in three bedroom houses by themselves. Lived in them 30/40 years plus. Family grown up and left home. Even OAP bungalows have people living in them 30 years plus! (Usually widows!) cheapest two bed house is £67.80 a week🫢

[Petra]

5 minutes ago, LemmyMcGregor said:

I'm not a fan of nationalisations, the way I see I wouldn't want to have council houses at all, I find all sort of benefits a disgraceful item as they are built with the middle class money to buy the votes of the working class, all the create is lazyness and divide.

Lazyness as they promote a cheap life at someone's else expenses, divide because I complain that it's coming off my pockets and puts me at odd with whoever receives it as they feel that I want to take it off them, when they don't realise that it's them taking off me.

There is no such a thing as the fair share of what I earned breaking my back.

Want cheap housing? Stop immediately the flow of illegals and remove all regulations, see how prices drop when you don't need licensing and don't have heavy constraints that require you to spend a fortune.

More so, utilities these days cost a mint not because they are private, but because of government interference that with artificial price caps has eliminated all of the small independent business and allowed the few fat cats to turn into a cartel.

Most council houses were built in the 1950s and 60s. There simply were no houses. Even jobs with houses had massive waiting lists for homes. Someone I knew got married, went to the pit managers office to try to get one of the few houses that were getting built at the end of the 1940s. Was told, ‘ your names on the list … number 120’. Most of those homes were sold off by the NCB after nationalisation. Those that were not sold are now council.

[kimchi]

5 minutes ago, LemmyMcGregor said:

More so, utilities these days cost a mint not because they are private, but because of government interference that with artificial price caps has eliminated all of the small independent business and allowed the few fat cats to turn into a cartel.

One might almost start to think that successive governments of either of the two supposedly 'opposing' parties that we are forced to choose between have in fact been working together all along to engineer this whole scenario...especially as when they leave office they almost all take up executive board positions on these very same companies...

I preferred things when their criminality was more blatant and actually reported on. Mark Thatcher is a British example.

 

[kimchi]

13 minutes ago, Petra said:

Round here there are lots of council house, one of the issues though is the people living in them. There are people living in three bedroom houses by themselves. Lived in them 30/40 years plus. Family grown up and left home. Even OAP bungalows have people living in them 30 years plus! (Usually widows!) cheapest two bed house is £67.80 a week🫢

 

8 minutes ago, Petra said:

Most council houses were built in the 1950s and 60s. There simply were no houses. Even jobs with houses had massive waiting lists for homes. Someone I knew got married, went to the pit managers office to try to get one of the few houses that were getting built at the end of the 1940s. Was told, ‘ your names on the list … number 120’. Most of those homes were sold off by the NCB after nationalisation. Those that were not sold are now council.

It sounds like your area is a couple of decades possibly behind the South...it will happen, they are coming for us all.

You will miss the widows once they're gone...good honest and kind people to have around in my experience.

Edited September 5, 2022 by kimchi

[LemmyMcGregor]

On the topic of houses, might not be worth bothering any more. Mind me, I am looking in Wales, I am not aware if this is a nationwide item or specific to Wales, but I suspect is national.

Just called an agency for a property, the guys asked me if I have a guarantor, I was stunned. I told him that I'm employed and I would earn way more than enough, he says he doesn't care, because of changes in legislation which are coming up, landlords will not be able to kick out folks until 6 months without paying rent have passed, so landlords want a guarantor regardless of your income.

More so, because of all these legislations, lettings have dropped as landlords are feeling the heat, don't want to be caught out by someone not paying or another lockdown and are selling. It's a moment to buy, but letting anything is mental.

How on God's green Earth can they demand me a guarantor? Am I supposed to put someone's neck on line for me? I've got no family, am I not allowed to live in a house because the private sector won't rent to me because of state regulations?

Bloody mental.

Sorry for the rant.

[flyingveepixie]

@LemmyMcGregor  Could you offer to pay 6 months or a year in advance?  Would that make any difference?   That's what we did when we came back from Italy in 2008 and had to rent for 6 months. They wanted references and we couldn't be arsed with the whole stupid game so we offered the full 6 months up front and they accepted it.

Edited September 6, 2022 by flyingveepixie

[LemmyMcGregor]

14 minutes ago, flyingveepixie said:

@LemmyMcGregor  Could you offer to pay 6 months or a year in advance?  Would that make any difference?   That's what we did when we came back from Italy in 2008 and had to rent for 6 months. They wanted references and we couldn't be arsed with the whole stupid game so we offered the full 6 months up front and they accepted it.

That's what I have discussed with the agent, it's just annoying the living hell out of me.

Had I known before I would have stayed where I am and looked into buying directly, if everyone is selling should be a good time to get a deal.

[katyc]

4 hours ago, LemmyMcGregor said:

On the topic of houses, might not be worth bothering any more. Mind me, I am looking in Wales, I am not aware if this is a nationwide item or specific to Wales, but I suspect is national.

Just called an agency for a property, the guys asked me if I have a guarantor, I was stunned. I told him that I'm employed and I would earn way more than enough, he says he doesn't care, because of changes in legislation which are coming up, landlords will not be able to kick out folks until 6 months without paying rent have passed, so landlords want a guarantor regardless of your income.

More so, because of all these legislations, lettings have dropped as landlords are feeling the heat, don't want to be caught out by someone not paying or another lockdown and are selling. It's a moment to buy, but letting anything is mental.

How on God's green Earth can they demand me a guarantor? Am I supposed to put someone's neck on line for me? I've got no family, am I not allowed to live in a house because the private sector won't rent to me because of state regulations?

Bloody mental.

Sorry for the rant.

Yes, many now ask for guarantors because during Covid the Government banned evictions. Therefore many tenants decided not to pay rent - knowing they could get away with it - and wouldn't be evicted. So landlords had no rent coming in and couldn't do a thing about it. Thanks to those people - and the government being fools - it's now harder for good, hard-working people like yourself because we are now demanding guarantors for added security. The Gov recently released a white paper looking to change this going forward (i.e. potentially evict non-paying tenants within 2 months) which is fairer so landlords may loosen up on the guarantor requirements.

[Bigmarc]

19 hours ago, Petra said:

Council house exist, it’s the waiting list that’s the killer

Yes, once you get to the top of the list you may be offered a property 100+ miles away, if you refuse I think you make yourself homeless. And you of the books to a different department or take the money and find your own place local. I think it's something like that, only pick up on snippets of information when I decide to tune in to the missus conversations. 

[Bigmarc]

18 hours ago, LemmyMcGregor said:

I'm not a fan of nationalisations, the way I see I wouldn't want to have council houses at all, I find all sort of benefits a disgraceful item as they are built with the middle class money to buy the votes of the working class, all the create is lazyness and divide.

Lazyness as they promote a cheap life at someone's else expenses, divide because I complain that it's coming off my pockets and puts me at odd with whoever receives it as they feel that I want to take it off them, when they don't realise that it's them taking off me

Too much Chanel 5 and the daily mail Lemmy. Love all your posts but not this one soz. 

[LemmyMcGregor]

3 minutes ago, Bigmarc said:

Too much Chanel 5 and the daily mail Lemmy. Love all your posts but not this one soz. 

Funny enough, I don't have a telly and I read the Mail

Please, feel free to detail your disagreement if you're of a mind.

[LemmyMcGregor]

13 minutes ago, katyc said:

Yes, many now ask for guarantors because during Covid the Government banned evictions. Therefore many tenants decided not to pay rent - knowing they could get away with it - and wouldn't be evicted. So landlords had no rent coming in and couldn't do a thing about it. Thanks to those people - and the government being fools - it's now harder for good, hard-working people like yourself because we are now demanding guarantors for added security. The Gov recently released a white paper looking to change this going forward (i.e. potentially evict non-paying tenants within 2 months) which is fairer so landlords may loosen up on the guarantor requirements.

I am not entirely convinced about this part... fools get it right once in a while, but when they consistently get it wrong, one starts to suspect design.

[Bigmarc]

7 minutes ago, LemmyMcGregor said:

Funny enough, I don't have a telly and I read the Mail

Please, feel free to detail your disagreement if you're of a mind.

Have just woke up so let's not turn this into a fight. 

I think I read somewhere that 64% of families in the UK are on some type of benefit and one can argue that the state pension is a benefit paid by the current national insurance contributions. What are we supposed to do, let them all die off? 

I have had this argument many times here and I am definitely the only lefty in the room. 

[katyc]

7 minutes ago, Bigmarc said:

I am definitely the only lefty in the room. 

I was born and bred in a council house so my views are very open minded. Although I can't deny I do sway further to the right because I have businesses which, of course, is in my best interest.

No one is ever right or wrong in politics. It's situational for each individual and I respect everyone's views✌️ 🕊️

[kimchi]

26 minutes ago, Bigmarc said:

I have had this argument many times here and I am definitely the only lefty in the room.

I am in principle, but since the sixties at least (The Fabian Society is a very, very dubious organisation that started very long before) they've perverted each side so much that they're both as dishonest and deceiving of the taxpayers as each other, just in different ways. This was most evident under Blair, who managed to out-Thatcher his hero Thatcher! People don't understand this on the whole, and those in the middle turn to the right when they think it's best for them, and vice versa. The truth is they're all criminals at the top and only in it for themselves and the people they answer to (who are not the taxpayers).

49 minutes ago, LemmyMcGregor said:

I am not entirely convinced about this part... fools get it right once in a while, but when they consistently get it wrong, one starts to suspect design.

Spot on.

[GoldDiggerDave]

1 hour ago, katyc said:

Yes, many now ask for guarantors because during Covid the Government banned evictions. Therefore many tenants decided not to pay rent - knowing they could get away with it - and wouldn't be evicted. So landlords had no rent coming in and couldn't do a thing about it. Thanks to those people - and the government being fools - it's now harder for good, hard-working people like yourself because we are now demanding guarantors for added security. The Gov recently released a white paper looking to change this going forward (i.e. potentially evict non-paying tenants within 2 months) which is fairer so landlords may loosen up on the guarantor requirements.

This is why I could not do buy to let, lucrative for some but I could not stomach being turned over like landlords have over the last 2 years…..yes some have struggled but many used it a a licence not to pay.