The Truth About Property - BBC2 Monday night 8pm

nrsql

epz wrote: »

got i hope they go back and see that smarmy estate agent that blew every penny he MEW'ed on plasma tvs and hottubs cause he felt he was entitled to live well.

Well he was financing it all through his house.
He's managed to get a new mortgage when he came off his fixed rate so sounds like he's ok for the time being.

He looked like he enjoyed himself for a time so at least he has that - who knows what will happen in the future.
I do wonder how many friends he has though.

One odd thing - I think he said he'd taken 40K out of his house which doesn't sound enough to finance that lifestyle for long so I wonder how long he'd been doing it..

hedger

I thought the multi millionaire guy came across very well last night (unlike the !!!! from the night before who bought peoples houses and rented them back to them). He seemed down to earth and wasnt up on himself at all despite being worth half a billion

Jorgan_2

nrsql wrote: »

One odd thing - I think he said he'd taken 40K out of his house which doesn't sound enough to finance that lifestyle for long so I wonder how long he'd been doing it..

I think he was using the £40k to pay the minimum balance on his credit cards & loan payments. Thats from memory of last years programme though.

ALIBOBSY

What about the photographer earning 50k, but only had a 10k deposit? What the heck was he spending his cash on. A 10% dep should have been easy for someone on that kind of income.

ali x

olly300

ALIBOBSY wrote: »

What about the photographer earning 50k, but only had a 10k deposit? What the heck was he spending his cash on. A 10% dep should have been easy for someone on that kind of income.

ali x

The program didn't say how long he had been in business. Most businesses take some time to build up and give their owners a decent income.

BiggaThanBen

ALIBOBSY wrote: »

What about the photographer earning 50k, but only had a 10k deposit? What the heck was he spending his cash on. A 10% dep should have been easy for someone on that kind of income.

ali x

voilà!

http://forums.moneysavingexpert.com/showpost.html?p=10883311&postcount=20

kingkano

phil_b wrote: »

What a complete pile of sh*t. I cant remember the last time I saw something so ludicrous.

The scene that took the biscuit was where she was telling that woman what her flat would be worth when she hits retirement.
Predicting 35 years into the future ?!?!? Are all doom'mongers as utterly idiotic and farcicle as those two idiots???? They took the crystal ball theorem to a whole new level PMSL!

They seemed to weed out only those with a pessamistic view of the future, and found one retard (letting agent guy) with optimism in some deliberate attempt to belittle the positive folk. The condesending facial expressions pulled when anyone mentioned prices being strong somewhere showed a very clear agenda behind the show and its creators. Full of bias and attempted brain washing as far as I could tell.

I for one am more confident those predicting huge drops are off their rockers after that show!

I must say, I do applaud them though, making an effort to push further a crash to the benefit of todays generation, who are undoubtedly struggling to buy a home of any kind. I'm sure many have more hope of being able to buy a house in the future.

THat was the worst bit of 'exampling' I have to say. When at the end they told her that her £20k investment, once off, was going to be worth ONLY £270k or something in 35yrs. I thought fkn a I'd love to invest 20k now to get 270k in retirement. Then they said it was a bad idea and wouldnt provide??

Then said a pension is better, which she would have needed to keep contributing to I take it rather than a 20k one off. It just didn't seem a very like for like comparison.....

1st show was half decent, 2nd show was a bit crud for me. It certainly wasnt giving me a doom and gloom feel by the end of it

Lotus-eater

Jorgan wrote: »

I think he was using the £40k to pay the minimum balance on his credit cards & loan payments. Thats from memory of last years programme though.

When he was talking about his mortgage, he said " the mortgage alone will be £whatever" meaning he has other debts to pay I assume.
He is a complete numpty, I spent the whole time he was on screen laughing my head off, when it got to the end and he got a job as a mortgage adviser, said he had changed and wasn't going to spend any more.........then took himself off to China on holiday as a reward............ I was so amused I actually couldn't speak for a minute.

Austin_Allegro

martinman3 wrote: »

Although they didn't mention it, I assume that the mortgage would be interest only and she would need to sell to get access to her "pension". That is the problem with relying on an increase in equity alone, if she could afford a repayment mortgage she could keep the property and live off the rent once mortgage was repaid.

I think they were mainly trying to make the point that people who say things like 'my property is my pension' sometimes haven't considered the possibility that a. prices may not go up astronomically for all time, and b, there are lots of other costs involved.

The woman in question clearly hadn't done very much research into what was possibly the biggest financial commitment of her life. It was the same with the junior lettings agent from Mansfield - he just didn't really understand the basics of mortgage lending, yet was very eager to get involved.

The main point of the programme seemed to be a light hearted debunking a lot of the myths that have arisen around property in the last ten years or so - an attempt to get the message across gently without instilling too much panic.

Snooze

phil_b wrote: »

What a complete pile of sh*t.

I couldn't agree more. I can't believe I wasted an hour of my life watching two people stating the obvious.

The disappointment was softened somewhat though by the babe (Jenny Scott) that was presenting half of it. Mmmmm....

Rob