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Proof the housing market has peaked


With a crooked smile
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Green Devil

Anyone had a browse of rightmove recently? The market has gone nuts, everything sold and the prices are kite flying delusional. Oh dear. What price on Bricks and Mortar?

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4 hours ago, Frank Hovis said:

There is a plus with this in that if not working you can put in about £2.5k each year and still reclaim the tax up to 75.

I'm doing exactly this. £2880 from me and I get £720 pa tax free from the gvt to invest which is not to be sneezed at.

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Hancock
6 hours ago, Green Devil said:

Anyone had a browse of rightmove recently? The market has gone nuts, everything sold and the prices are kite flying delusional. Oh dear. What price on Bricks and Mortar?

Ive just looked, and there doesnt seem to be much on the market.

Vaguely thinking of becoming a BTLer and buying a house in York for circa 200k, will borrow 50%.

No rush though as prices should fall once the SDLT holiday nears an end.

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17 hours ago, janch said:

I'm doing exactly this. £2880 from me and I get £720 pa tax free from the gvt to invest which is not to be sneezed at.

except you pay tax on the way out so it only saves if you pay 40pct now assuming you will always pay basic rate and allowances are used up. right?

add to that fee for sipp and possibility basic rate maybe higher than 20pctwhen you draw it. plus possible sipp rule changes or gov cash grabs.

punt was my conclusion and cba. not sure if thats correct tho.

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Frank Hovis
4 hours ago, BWW said:

except you pay tax on the way out so it only saves if you pay 40pct now assuming you will always pay basic rate and allowances are used up. right?

add to that fee for sipp and possibility basic rate maybe higher than 20pctwhen you draw it. plus possible sipp rule changes or gov cash grabs.

punt was my conclusion and cba. not sure if thats correct tho.

As I have often pointed out: you don't have to.

You may however passively choose to do so by not doing anything.

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4 hours ago, BWW said:

except you pay tax on the way out so it only saves if you pay 40pct now assuming you will always pay basic rate and allowances are used up. right?

add to that fee for sipp and possibility basic rate maybe higher than 20pctwhen you draw it. plus possible sipp rule changes or gov cash grabs.

punt was my conclusion and cba. not sure if thats correct tho.

I hope not to draw on it and it will be passed on to my kids. 

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May be early on this, but this is the first week I’ve noticed a number of reductions in the midlands. March, April and first week of May were nuts- things came up and sold very quickly- no reductions, but last 3 weeks seems to have softened.

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stokiescum
On 10/06/2021 at 14:55, Green Devil said:

Anyone had a browse of rightmove recently? The market has gone nuts, everything sold and the prices are kite flying delusional. Oh dear. What price on Bricks and Mortar?

3 bed semis are selling fast I suspect this will be gone within a week .https://www.rightmove.co.uk/properties/108606659?utm_campaign=property-details&utm_content=buying&utm_medium=sharing&utm_source=copytoclipboard

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UmBongo
On 10/06/2021 at 21:58, Hancock said:

No rush though as prices should fall once the SDLT holiday nears an end.

I think the Sdlt holiday finishes in September. On that basis I will probably start looking at some properties from then. 

 

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Hancock
Just now, UmBongo said:

I think the Sdlt holiday finishes in September. On that basis I will probably start looking at some properties from then. 

 

When chains have broken just after could be a good time.

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I don't understand the mad rush to complete before the SDLT holiday ends. All that's happened is prices have gone up but the SDLT saving, leveraged. These people are effectively rushing to add 50 or 60 grand to their outstanding mortgage amounts.

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