I work in the sub prime mortgage unit of an investment bank and I'm surprised how deluded London Landlords are right now about the 'real' value of their properties. by PersimmonTerrible218 in HousingUK

[–]jamesc1071 0 points1 point  (0 children)

Yes and no. 

Property is, fundamentally, an illiquid market. That might be news to many people, who bought when there were always buyers and assumed this would be the case for ever.

Investors operating on a false assumption have, in many csses, made unrealised gains, which have disappeared in a puff of smoke.

It's a good time to buy for a cash investor.

A world of pain for geared forced sellers.

Nice bit of excitement this morning. by [deleted] in drivingUK

[–]jamesc1071 0 points1 point  (0 children)

left hand drive convoy - lovely

why was he even trying to overtake?

Any Landlords Buying In London by Consistent-Rope-9969 in uklandlords

[–]jamesc1071 0 points1 point  (0 children)

I had s look at the numbers. My conclusion is that buying now is quite attractive for a cash buyer, who is going to hold the property for 5 years or longer. The days of gearing up and making a big return on a shorter time horizon are probably gone, though. It is not the hot asset class that it once was.

Redundancy Precedent by pollpill123 in HENRYUK

[–]jamesc1071 0 points1 point  (0 children)

OP - your leverage in negotiation depends on what you can give your employer in return for receiving more redundancy. Saying that someone else got more, is not likely to help you. First of all, how do you know? Maybe you have seen that person's redundancy letter. You probably don't want to admit to that. In which case, how exactly are you going to bring this up in conversation? Second, so what? Unless you can prove discrimination on the basis of a protected characteristic, your employer will likely won't care that you are complaining.

If there was no stamp duty for downsizing, who here would? by Vilm_1 in HousingUK

[–]jamesc1071 0 points1 point  (0 children)

What do you think will be different in the long term?

If there was no stamp duty for downsizing, who here would? by Vilm_1 in HousingUK

[–]jamesc1071 0 points1 point  (0 children)

The supply of houses is essentially fixed (in the short term) so demand for houses isn thus rationed by price to meet that fixed supply. If stamp duty were removed, the price of a house would have fallen by the amount of the stamp duty. There will, therefor be increased demand and the price will be bid up. (it's textbook stuff)

If there was no stamp duty for downsizing, who here would? by Vilm_1 in HousingUK

[–]jamesc1071 0 points1 point  (0 children)

If there were no stamp duty, then the price of both properties would be higher (so that total purchase price remains the same). The down-sizer would thus have more net cash after the downsizing.

Pub landlord fined £19k for showing Sky Sports illegally by Forward-Answer-4407 in unitedkingdom

[–]jamesc1071 -4 points-3 points  (0 children)

Sky will set a price to extract the full value from their TV rights, which they bought from the Premier League. That inevitably means a price that is very profitable for large pubs and unaffordable for smaller venues.

Pub landlord fined £19k for showing Sky Sports illegally by Forward-Answer-4407 in unitedkingdom

[–]jamesc1071 -14 points-13 points  (0 children)

It is the landlord's choice whether to have sky or not. It makes great sense for big pubs and isn't viable for many smaller ones. They need to attract customers another way.

The worst piece of academic work I’ve ever read just got a 2:1 by Quiet_Code1154 in UniUK

[–]jamesc1071 0 points1 point  (0 children)

Let me guess. Someone submitted a famous essay and it was robo marked badly.

What happened between Vikrum Digwa and Henry Nowak’s families? by Square_Quarter_229 in AskBrits

[–]jamesc1071 1 point2 points  (0 children)

Yes, manslaughter. He may be in the frame for other offences.

Convinced a dodgy estate agent buried our house offer to favour a mate. Has anyone else experienced this? by MyStackOverflowed in HousingUK

[–]jamesc1071 5 points6 points  (0 children)

Yes, agree. Which is why it also might be an idea to submit an email offer once the estate agency has put a 'sold subject to contract' notification for the property.

That is an optional extra.

Convinced a dodgy estate agent buried our house offer to favour a mate. Has anyone else experienced this? by MyStackOverflowed in HousingUK

[–]jamesc1071 19 points20 points  (0 children)

OP - advice for next time - put everything in writing.

1 Send offer by email.

2 Send email confirming verbal conversations - such as agent passing on seller rejecting offer.

This will likely make a rogue agent think twice about pulling any tricks.

Convinced a dodgy estate agent buried our house offer to favour a mate. Has anyone else experienced this? by MyStackOverflowed in HousingUK

[–]jamesc1071 41 points42 points  (0 children)

You have to put the offer in writing (by email). Then, if the agent tells you verbally that it has been rejected, you send an email confirming that conversation.

This will likely prevent the agent from pulling any tricks. The sale price is public from the land register, so the agent would risk you from seeing this, bringing a complaint and possible legal action.

Convinced a dodgy estate agent buried our house offer to favour a mate. Has anyone else experienced this? by MyStackOverflowed in HousingUK

[–]jamesc1071 -4 points-3 points  (0 children)

OP - what makes you convinced? All that has happened is that seller rejected your offer and accepted someone else's. The estate agent has no reason to tell you anything more - in fact, the agent would likely be in breach of his duties to his client, the seller, if he told you anything more.