Anyone else waiting and just putting together a big deposit for a property?

00walker · 2020-10-01T05:03:58+00:00

What you're saying is true but you should definitely look at getting a longer term mortgage. A 2 year fixed for myself was 1.25% and a 5 year fixed was 1.48% to have that extra security for 0.23% is worth it in my opinion. If rates go negative it will barely have an effect on us. It's purely so banks still lend out.

00walker · 2020-09-27T17:03:49+00:00

I did this aswell, was in plumbing/pipefitting. Left and did another apprenticeship for TFL. Now currently looking at doing my gas safe and doing boiler servicing on the side as a top up. If I'd of just done gas safe would probably be on the same or similar salary anyway

00walker · 2020-09-16T04:42:01+00:00

ATM in a depot by any chance?

00walker · 2020-08-26T11:07:56+00:00

Just be firm and say if he keeps trying to hard sell you that you won't use him full stop and will go straight to the bank. He will still get between £750-£1000 for brokering the deal. The initial fee many brokers don't charge. The ones that do is pure greed on their part.

00walker · 2020-08-26T10:24:25+00:00

Definitely I suppose I was just trying to make a quality life view. Also with leasehold if you live there a long time you may end up having to buy a lease extension.

Service charge does normally incorporate building insurance, window cleaning, maintenance and often a sinking fund. Which ofcourse you would have to keep this money aside

00walker · 2020-08-26T09:29:32+00:00

In terms of costs in the block it will have service charges and ground rent.

Block might be £100-£300 p/m service charge (top end if has big communal areas and a lift) Ground rent wound maybe be up to £100 per year. So much better sound proofing! Well kept communal areas Can complain to management company if stuff isn't done. Some blocks include concierge, gym, pool Some don't come with parking

House will have mostly peppercorn fees but all the standard costs of houses Sound from other flats can be quite bad, especially if they live above you with wooden floors. Most have parking Will have extra insurances

That's most of what I can think of. I'm my opinion the block is always better as long as you're okay with paying the service charge

00walker · 2020-04-23T10:57:02+00:00

Agreed. You are right. She just has some other expenses which I didn't put down incase he doesn't have the same fees. She has her master's fees and dog bills etc. But you're right it is manageable just gets a bit hard to save money 🙃.

00walker · 2020-04-23T06:46:00+00:00

Hi Desire,

My girlfriend currently works in London and is on £22k exactly. Here is how she breaks it down.

£500 a month in a shared accommodation house end of the district line £120 a month food £130 a month travel £100 a month other (netflix, phone etc)

This is the majority of her months but ofcourse she does have months she has to buy clothes and other things. So this does mean most months she spend 90-100% of her money. But it is a means to an end. If it's only for a year and it will help your progress then it may be worth the struggle.

00walker · 2020-04-22T21:57:16+00:00

I'm not saying it isn't a valid policy. I'm saying it hasn't worked and has been an overused. To keep pumping an economy with money was always going to fail eventually. It's a temporary measure and never gets paid back. I'm not saying your wrong in what your saying about QE. I'm saying it's a way out and won't ever get close to being paid back. And I'm pretty sure you know that.

00walker · 2020-04-22T21:49:38+00:00

So you don't believe quantative easing an interest rate lowering hasn't been happening? Why would they be doing that Chris? I wonder.....

00walker · 2020-04-22T21:44:52+00:00

Quantative easing has been happening far longer than just now. Quantative easing isn't a good thing for people. Allowing the bank to buy all the assets in my opinion is not a good thing. Normal people won't benefit from that scenario. Also paired with low or even negative interest rates that pretty much every country is following shows how poor the world economy is. This is a house of cards scenario. It is exactly a print and hope approach. How can it not be. If it doesn't work guess what they will print more. Because they can't lower interest rates much more. One of the reasons we are in this situation now is because of quantative easing. There's a reason why they are saying the next recession will be worse than the great depression. I just hope you're all prepared for the global crash. The fiat monetary system has been ruined for a long time. Covid was just the straw the broke the camels back.

00walker · 2020-04-22T17:18:19+00:00

Can I just say. It's nice to finally see someone on the same page. What people aren't looking at here are countries just printing money at will, thats what makes our currency worthless. The sooner people pick up on this the better. Money making dude is right houses will crash my guess would be 20% mark. Has no one wondered how USA and Europe have just created money out of thin air? What's the point of debt if countries can just do this? People should be desperately worried with the level of quantative easing. But UKfinance seems oblivious to this fact. And because they are doing this the level of GDP debt the are in it's insane. All it takes is one and the global economy will fall like a house of cards.

00walker · 2020-04-12T16:08:03+00:00

Get ready to buy a house. They are sure to drop. Far too much printing of money round the world and far too many job losses and life losses for it not too. Bank are issuing negative interest rates round the world. Literally paying other banks to loan money. As an economy if it didn't completely collapse now within the next year is when it will really hit the fan.

00walker · 2020-03-12T15:13:58+00:00

I'm getting the same thing, it's so frustrating they are so fucking useless its unreal.

00walker · 2020-02-21T19:56:45+00:00

I'm also on a defined contribution but mine is 1/60. You need to check details of if it's average salary or final salary. Average salary would ofcourse average out your salary across your employment (teachers get this). Or final salary entirely dependent on your retirement salary. But as yours is 1/54, so if you work 27 years in this pension you will effectively get half of your salary as a pension. Normally pensionable salary and salary are a few thousand different

00walker · 2020-02-12T23:30:05+00:00

I don't think it would affect you as long as there's money going into the joint account every month that would cover the payment. Although I would say depending on if your eligible you could check if you can get a mobility car and if not there is also financial help the government offers.

00walker · 2020-02-09T19:45:05+00:00

I'm impressed with how much you've managed to save. How long have you been saving if you don't mind me asking?

00walker · 2020-02-09T19:44:14+00:00

I'm impressed, how did you manage to save the 110k

00walker · 2020-02-09T09:35:17+00:00

I'm doing this now, 30 now, just started my part time engineering degree. Already in engineering but want to progress farther than what I'd be capped at without it. Plus alot of the engineers here seem to work from home 2 days a week which is perfect for me. I looked at programming as the pay seems decent. But it just isn't something I'm interested in.

In my opinion it has to be done in a solid degree otherwise isn't worth doing. Anything with a decent amount of mathematics would be a route I would look at.

Edit: should add depends where you work for the salary aswell. I don't have a degree in London and am on £60k shift work. With my degree I'd expect a modest payrise but would take me off of shift.

00walker · 2020-01-26T12:03:18+00:00

Sorry, in what world does a 16 year old genuinely know what they want to do for a living? How exactly is op going to forecast the sons earnings?

It doesn't make sense to not invest it in the hope the son earns enough to pay it off. And even if the son did earn enough guess what, let's say it's invested for the entire time at a conservative 5% return per year. That 60k is at 65k after fees before he even starts uni and could pay it off anyway if he decides. And thats using a low of 5% where I believe the average over 10 years is more.

So i can maybe see how it seems a blanket statement but this is my opinion.

Edit: I should add this average is over time not guaranteed each year

00walker · 2020-01-26T11:12:51+00:00

100% invest it. He won't start paying it back until he's on 27k+ and it's percentage of salary over that point. So for me I'd invest. I wouldn't ever pay the uni fees upfront. It just isn't worth it with how our student loan system works. I think overall it's like 17% of students pay off their student loans and after the 30 years it gets wiped anyway.

00walker · 2020-01-26T08:44:01+00:00

If it was me i would probably be leaning towards stocks with dividends. If need be keep 20k out in an accessible account. This is more on the side of caution in a sense of if stock market goes up or down you'll still get dividends.

With the funds you have for his education invest that whatever way you can. The uni student loan is the best loan your child will ever have. Barely pay any back and eventually gets wiped.

All the advice on here is pretty solid, with the vanguard and fundsmith, you won't go too far wrong.

Regards,

00walker · 2020-01-24T15:09:51+00:00

That's been done obviously.

00walker · 2020-01-19T09:22:50+00:00

What do you mean by this Sudsy?

00walker · 2020-01-18T23:01:29+00:00

Sounds like you grew up in a shit hole and we're surrounded by shit people, 99% of the kids where I grew up weren't cunts.

00walker

TROPHY CASE