Misery of the BTLers and property developers...

Kenny4315

I'd rather be in my position than yours Devon any day of the week, that's one fact that I can ascertain very easily.

I don't have to pray and hope that things might happen, I get on an do them. I'd rather control my own destiny, something which is obvious to me you'll never be able to do.

Incidentally you spend alot of time on MSE, during the day what is the nature of your paid employment. Hope your not paid on productivety. You'll never get up that employment ladder sitting on MSE when you should be working.

What's that 24,000 plus mails, seems like alot of skiving to me, then your moaning you can't afford mortgage on a property.

I got into my position by not only being smart but working my boule ocks off. I virtually single handed took on a derelict 4 storey building. I moved 16 8 yard skips out of it, much from the top floor by hand, and from the back barrowing through the house. I didn't spend all my alledged working time posting on MSE, and sitting on my butt. 16 hour days have been the norm for the past 2 years, 7 days a week. Something which I doubt you'll have the will or capacity to do. From on the chimney stack to under the floor boards, so when you assume that guys like me fluked it or whatever your talking boule ocks ..... and quite frankly p&ss me right off. I got off my arze and did what many couldn't not even the established large firm developers risked taking on the size of my main house, I didn't sit there complaining I got on and controlled my future.

It is only recently that I'm able to ease off the workload, and take a break.

Graham_Devon

Kenny4315 wrote: »

I'd rather be in my position than yours Devon any day of the week, that's one fact that I can ascertain very easily.

I don't have to pray and hope that things might happen, I get on an do them. I'd rather control my own destiny, something which is obvious to me you'll never be able to do.

Kenny. You don't even know anything about my position. All you know is that I am in shared ownership and cannot at this current time, with my wage, stump up an affordable multiple (to me).

You have decided yourself I have no deposit. Wrong.
You have decided yourself I cannot afford a house. Wrong.

All you have seen is a post about shared ownership, and left out the fact that I stated a post beforehand that I wasn't willing to pay people like you massive sums and wasn't willing to put a massive mortgage noose around my neck.

You also decided to miss out the bit which says shared ownership has enabled me to save up a larger deposit.

You also miss out the fact of my age compared to yours.

You also miss out the fact that I'm doing all this myself, which you simply just turned round into me being lonely, not having a clue!

I havent told you anything about me. You have just made up your own mind that I'm someone who could never afford a home. Wrong again. I could have bought a house with a normal mortgage. BUT, I would have, for the next few years, completely crippled myself, and put myself in a position that if I lost my job, I would also lose my home instantly and put myself in a position of becoming a slave to my mortgage due to a bubble.

It was ME who decided I wasnt willing to do that. And I'm damn glad I did!

I really couldnt give two hoots who's position you would rather be in. You keep trying to make this personal, I'm not after that. What you are doing is exactly what I described in my first post on this thread on page 5. Boasting that your richer than others, boasting you are best placed. Boasting how much money you have got, even telling us the figures.

You are that person in my first post on page 5. Probably telling us all this to try and convince yourself. Cus thats what the GP who bought all the houses I know is doing. He's just had to change his 07 plater Mercedes SLK for an 02 plate VW Polo too. He says the wife didnt like the Mercedes and thats the reason. LOL. Yes. Of course.

Kenny4315

Graham_Devon wrote: »

You also miss out the fact of my age compared to yours.

You also miss out the fact that I'm doing all this myself

Devon I'm 38 (I bought my first house at 25 and paid by 30), and no-one ever gave me a hand-out ever, or a hand-up, that's for certain.

Did I not hear you correctly .... when you said that you were 'smug' that BTLers were all going to the wall ??? irrespective of how they'd got in that position. I didn't get into my position by equity release, or becoming debt ridden, I got here because I FFing worked real hard, and for real long hours, and not just pizzing about on mobiles and drinking tea, (or posting 24,000 times on MSE), I mean flat out for 12 to 16 hours with maybe 10 minutes off.

You do seem to be have a selective memory on the old insults there old bean..... let's just face facts ... you dislike anyone with a BTL, probably because you feel you missed the boat. It wasn't just BTL's forcing the market up though which you fail to understand.

I stated factual information on my position to back up my points (if the figures grind on you maybe you should be discussing the thread with a BTL & Developer, as its obvious I'll make reference to figures, unless you want a debate with no reference point),which you ignored, but hey GD, if you like shared ownership or whatever, that's your choice.

Dan:_4

Graham_Devon wrote: »

BUT, I would have, for the next few years, completely crippled myself, and put myself in a position that if I lost my job, I would also lose my home instantly and put myself in a position of becoming a slave to my mortgage due to a bubble.

It was ME who decided I wasnt willing to do that. And I'm damn glad I did!

Calm down Graham, why do you get all stressed out so easily?

So, instead of getting a mortgage to buy a house, you dicided to go for shared ownership - just incase you lost your job?

Can I ask why?

Graham_Devon

Dan: wrote: »

Calm down Graham, why do you get all stressed out so easily?

So, instead of getting a mortgage to buy a house, you dicided to go for shared ownership incase you lost your job?

Can I ask why?

Because this way, I can have a higher standard of living. I enjoy cars, or used to, and used to run a VW Golf R32 until prices when up to around £1.15p per litre, and then decided this was getting silly! Got out of that one just before the road tax thing too! I enjoy other things and enjoy not having to scrimp and save to get through one month to the next. I have enough people around me absolutely strangled by high mortgages, and it just wasn't for me.

Also means I could live off myself for around two years if I had no contracts.

I'm also self employed, which had an effect on the multiples, so made the share multiple a lot easier to get.

Also, my parents used the DIYSO scheme in the 90's and had nothing but praise for it. This is very different, but has it's up's and it's downs. So listened to what they had to say.

Shared Ownership don't care how much money you have in the bank. I thought they would, but it's not part of the process. They only care you don't earn over their upper limit and don't earn less than their lower limit.

Overall, to me, a standard of living is worth more than being able to say I have mortgaged myself to the hilt and then losing my home later on. Also, I'm a natural worrier, so this gives me piece of mind that I aint getting turfed out any time soon, even if I lost my job.

There IS more to life than paying a massive mortgage. I'm not one of those people who neccesarily cares what people think. I.e., someone may think I'm poor cus I live in SO. I don't care. My security as I'm in this area on my own (all family around 200 miles away) is worth more to me than trying to keep up with the neighbours. (Not that thats hard here!! )

Kenny4315

Why didn't you do a true self cert ?

Then use the rent a room scheme to get some extra income from a lodger.

Graham_Devon

Kenny4315 wrote: »

Why didn't you do a true self cert ?

After that post above, can you not figure it out yourself?

Why would I want to share my home with an unreliable lodger, when I can live how I want to myself?

This may seem rather strange to you, but money isn't everything, seriously. Assets are not everything, seriously. Having piece of mind and security, the security of knowing if I lost my job I could live off myself for 2 years? That, to me, is worth more than rolling onto my drive of my house which I'm a slave to.

I shall move, with my savings A) if I need to, or when I feel I want to and the price is worth it.

Dan:_4

Graham_Devon wrote: »

Because this way, I can have a higher standard of living. I enjoy cars, or used to, and used to run a VW Golf R32 until prices when up to around £1.15p per litre, and then decided this was getting silly! Got out of that one just before the road tax thing too! I enjoy other things and enjoy not having to scrimp and save to get through one month to the next. I have enough people around me absolutely strangled by high mortgages, and it just wasn't for me.

Also means I could live off myself for around two years if I had no contracts.

I'm also self employed, which had an effect on the multiples, so made the share multiple a lot easier to get.

Also, my parents used the DIYSO scheme in the 90's and had nothing but praise for it. This is very different, but has it's up's and it's downs. So listened to what they had to say.

Shared Ownership don't care how much money you have in the bank. I thought they would, but it's not part of the process. They only care you don't earn over their upper limit and don't earn less than their lower limit.

Overall, to me, a standard of living is worth more than being able to say I have mortgaged myself to the hilt and then losing my home later on. Also, I'm a natural worrier, so this gives me piece of mind that I aint getting turfed out any time soon, even if I lost my job.

There IS more to life than paying a massive mortgage. I'm not one of those people who neccesarily cares what people think. I.e., someone may think I'm poor cus I live in SO. I don't care. My security as I'm in this area on my own (all family around 200 miles away) is worth more to me than trying to keep up with the neighbours. (Not that thats hard here!! )

But you have stated that full home ownership is not out of your reach, so why choose shared ownership (a scheme designed as a stepping-stone to full ownership)?

Surly the rent/mortgage payments would be roughly the same, so your standard of living would be the same?

Are you trapped in this scheme as prices fall?

Kenny4315

It's easy to find a good lodger. When I worked away I found this very helpful in terms of making sure my house was occupied, and secure. They even came to my wedding. How would have you been a slave if a big chunk was being paid by the lodger.

Graham_Devon

Dan: wrote: »

But you have stated that full home ownership is not out of your reach, so why choose shared ownership (a scheme designed as a stepping-stone to full ownership)?

Surly the rent/mortgage payments would be roughly the same, so your standard of living would be the same?

Are you trapped in this scheme as prices fall?

The rent is currently £203. The mortgage is currently £157. Rent due to go down in the coming months as its linked to RPI.

Equivalent rental is at least £550.

The newer properties are higher rents, this was 1993. I did look at some new builds when looking into the scheme and went on one of their open day things, but they WERE expensive!

Trapped as share prices fall? No. I'm not 100% mortgaged. Also, just means the other shares are less expensive to buy! If it falls 50% from the time I bought it in 2006, if I wanted to buy a further share, I could buy the same share as I bought in 2006, for 50% of the price I paid in 2006!