Credit deflation and the reflation cycle to come.

[JoeDavola]

9 minutes ago, Admiral Pepe said:

We are planning on taking a look at a few areas/houses while we were over. Will be interesting to see how much it's moved since we were last over. Perhaps this last rush into the houses/cheap credit is a sign it's all about to go off again.

This recent discussion I had on ToS may be of interest regarding cheaper areas:

https://www.housepricecrash.co.uk/forum/index.php?/topic/233068-big-crash-in-hpi-in-ni-have-noticed-property-people-i-know-getting-a-bit-nervy-these-last-2-weeks/&

[leonardratso]

1 hour ago, JoeDavola said:

Belfast house prices have gone mental - especially in the few parts that are deemed to be 'middle class'. Prices going up faster than any worker could hope to save.

In a country with no functioning local government, everyone seems loaded all of a sudden. It looks like it's getting to the point where the vast majority of people who work in Belfast couldn't afford to buy a family home there now without inheriting 100K+ - same as it's been in other UK cities for a while I guess.

I also get the impression from my peers that everyone is borrowing to the hilt - that when someone gets a payrise they immediately find a new 'thing' to spend that money on (PCP car, bigger home, home renovations/decorating). I don't think anyone saves a penny, in fact I think most marriages would fall apart at the mere suggestion

Paycheque to paycheque living, with lots of debt and cheap credit.

until the paycheque suddenly stops of course. Then the fun begins.

[A_P]

9 minutes ago, JoeDavola said:

This recent discussion I had on ToS may be of interest regarding cheaper areas:

https://www.housepricecrash.co.uk/forum/index.php?/topic/233068-big-crash-in-hpi-in-ni-have-noticed-property-people-i-know-getting-a-bit-nervy-these-last-2-weeks/&

Thanks for the headsup will keep an eye on the thread. Likely we would require east belfast (because of the place my other half would probably be working before we give up full time work) so Newtownards area maybe even Bangor. I've seen some really nice houses in Millisle for peanuts but probably too far from civilisation/commute to work. The thing is I'm trying to twist her arm to be open to different positions within her field, which may open up a few other locations. It's quite specilised but lets see.

As the others have said on the thread out towards Newtownabbey might be worth it for you if you don't mind jumping on the train. 15 minutes to either airport. Some ncie reaturants (I can recommend the sleepy hollow) and don't forget the Chim for a night out. You'd have a field day in their with the birds . That's where my mum moved back to in 2016 and got a lot for her money, seems like an okay area to me. Kind of sold it to us about moving over there, well in fact Antrim, Portrush and everywhere inbetween. It has been eye opening just how bad it's got in the South now. It's funny my cousins and what not think we're mad for wanting to come over. But after how bad it's got over here, the thought of being mortgage free and not having to worry about work and living a minimal lifestyle is bliss to me now.

[DurhamBorn]

Just added some more Yamana some Sandstorm Gold and some IAMGOLD before i trot off for my reduced items at Tesco at 7pm 

 

[azzuri82]

Sorry to go off-topic, but does anyone know if ii (Interactive Investor) will accept a one-off contribution to a SIPP (not a transfer of pension) of around £70/80k without consulting an IFA?

My business was going to make a one-off contribution to workplace pension and then I was going to transfer it out to a SIPP, but instead it just seems easier to avoid workplace pension fees to transfer funds straight to a SIPP instead.

 

Decided on ii after having a look around - on the transfer form they've asked whether I've consulted an IFA, and I don't intend to - will that stop such a transfer (simple cash contribution of around £80k) going ahead?

 

Regards

[DurhamBorn]

21 minutes ago, azzuri82 said:

Sorry to go off-topic, but does anyone know if ii (Interactive Investor) will accept a one-off contribution to a SIPP (not a transfer of pension) of around £70/80k without consulting an IFA?

My business was going to make a one-off contribution to workplace pension and then I was going to transfer it out to a SIPP, but instead it just seems easier to avoid workplace pension fees to transfer funds straight to a SIPP instead.

 

Decided on ii after having a look around - on the transfer form they've asked whether I've consulted an IFA, and I don't intend to - will that stop such a transfer (simple cash contribution of around £80k) going ahead?

 

Regards

Cant be 100% sure,but i think you should be able to pay it straight into a SIPP.The advice is needed when you transfer out of another pension as you might/do lose other benefits,a payment into a SIPP is simply that,a payment into an account you manage yourself.

[Democorruptcy]

7 minutes ago, DurhamBorn said:

Cant be 100% sure,but i think you should be able to pay it straight into a SIPP.The advice is needed when you transfer out of another pension as you might/do lose other benefits,a payment into a SIPP is simply that,a payment into an account you manage yourself.

Isn't there a maximum contribution based on earnings? Though carry forward is allowed.

https://www.bestinvest.co.uk/pensions/sipps/sipp-allowance

 

[azzuri82]

15 minutes ago, Democorruptcy said:

Isn't there a maximum contribution based on earnings? Though carry forward is allowed.

https://www.bestinvest.co.uk/pensions/sipps/sipp-allowance

 

Yeah it's £40k per annum but I can carry forward around £39k total allowance from last year + £40k'ish from this year.

[Democorruptcy]

Well the excitement is electric in this house, waiting to see what bargains DB has snaffled at discount time. That extra freezer might not know what's hit it.

[Castlevania]

6 hours ago, Barnsey said:

This is silver bar storage, but yes the coins are CGT free, but much more expensive, although if silver does rocket maybe makes sense to do both from a tax perspective. 

If you hold them abroad, is it worth notifying the taxman?

[kibuc]

2 hours ago, DurhamBorn said:

Just added some more Yamana some Sandstorm Gold and some IAMGOLD before i trot off for my reduced items at Tesco at 7pm 

 

I really need to pick your brains on this. I just returned from M&S and Waitrose, which close at 9pm and 10pm, respectively. Not a single reduced item in the former, a single packet of coocked ham reduced by a measly 20% in the latter. Dropped in to Sainsbury's on my way back home, they close at 10pm, managed to find to small pieces of beef loin reduced by 33%.

My wife went to a nearby Tesco Extra last Saturday, they open until midnight so she went 10:30-ish. Nothing, nought, nada. There's also Morrisons in a cycling distance, haven't checked it our yet.

Wrong days? Wrong hours? Wrong stores?

[harp]

5 minutes ago, kibuc said:

I really need to pick your brains on this. I just returned from M&S and Waitrose, which close at 9pm and 10pm, respectively. Not a single reduced item in the former, a single packet of coocked ham reduced by a measly 20% in the latter. Dropped in to Sainsbury's on my way back home, they close at 10pm, managed to find to small pieces of beef loin reduced by 33%.

My wife went to a nearby Tesco Extra last Saturday, they open until midnight so she went 10:30-ish. Nothing, nought, nada. There's also Morrisons in a cycling distance, haven't checked it our yet.

Wrong days? Wrong hours? Wrong stores?

Skips out back?

[Yellow_Reduced_Sticker]

3 minutes ago, harp said:

Skips out back?

[leonardratso]

4 minutes ago, harp said:

Skips out back?

aye, our local stores dont do much reduction i must admit, tends to be rolling and doesnt always lead to much.

But this a very (ahem) exclusive area for only the very best of people. (ahem, i say people, i mean feral dole scroungers really).

[Yellow_Reduced_Sticker]

10 minutes ago, kibuc said:

I really need to pick your brains on this. I just returned from M&S and Waitrose, which close at 9pm and 10pm, respectively. Not a single reduced item in the former, a single packet of coocked ham reduced by a measly 20% in the latter. Dropped in to Sainsbury's on my way back home, they close at 10pm, managed to find to small pieces of beef loin reduced by 33%.

My wife went to a nearby Tesco Extra last Saturday, they open until midnight so she went 10:30-ish. Nothing, nought, nada. There's also Morrisons in a cycling distance, haven't checked it our yet.

Wrong days? Wrong hours? Wrong stores?

I think ya getting there too LATE...

Try M&S @ 6/7pm ...my sister does Waitrose and does well @ around 4/5pm...

[kibuc]

15 minutes ago, Yellow_Reduced_Sticker said:

I think ya getting there too LATE...

Try M&S @ 6/7pm ...my sister does Waitrose and does well @ around 4/5pm...

Thanks, will try that. Seems very early, but who knows!

[Dogtania]

Yup unfortunately wrong stores I think based on my locality.   I get happy these days when I manage to catch a certain Sainsbury's for their 50% off bread and equally discounted cookies if I'm indulgent.  I'm weird in so far as more than happy to eat fresh (not plastic wrapped) bread well past its best.   If it gets to the stage where it is impossible to saw for toast etc always can be used in salads or bread crumbs.   Nothing wrong with freezing sliced bread too for toast - something we did growing up I think more for convenience than anything else.

I've become a bit of a whore for stacking discounts recently though - this week I used my NUS 10% discount at superdrug, then paid with my pre paid shopping card that is discounted at 8%.  Also considering moving a popular music streaming service subscription to a cheaper option using VPN and such (although rightfully looked down upon for in theory depriving hard up musicians of income, in the UK prices are a bit steep compared to say the US)

All a bit OT but this is the deflation thread and I'm deflating if not disinflationing my expenses

 

[leonardratso]

22 minutes ago, Dogtania said:

Yup unfortunately wrong stores I think based on my locality.   I get happy these days when I manage to catch a certain Sainsbury's for their 50% off bread and equally discounted cookies if I'm indulgent.  I'm weird in so far as more than happy to eat fresh (not plastic wrapped) bread well past its best.   If it gets to the stage where it is impossible to saw for toast etc always can be used in salads or bread crumbs.   Nothing wrong with freezing sliced bread too for toast - something we did growing up I think more for convenience than anything else.

I've become a bit of a whore for stacking discounts recently though - this week I used my NUS 10% discount at superdrug, then paid with my pre paid shopping card that is discounted at 8%.  Also considering moving a popular music streaming service subscription to a cheaper option using VPN and such (although rightfully looked down upon for in theory depriving hard up musicians of income, in the UK prices are a bit steep compared to say the US)

All a bit OT but this is the deflation thread and I'm deflating if not disinflationing my expenses

 

funny you should say that, i know someone who uses a vpn to pretend they are streaming netflix from somewhere like kuala lumpar where its dirt cheap by comparison.

I cant remember where it was to be honest but when i looked at the price differential it really was a good 60% cheaper, i didnt pay too much attention to be honest, since i dont really watch much tv or films etc, i never really have and its never bothered me.

[Democorruptcy]

Well no feedback yet from DB about the bargains galore, I just hope his van hasn't buckled under the strain of all that super cheap food.

[Band]

1 hour ago, kibuc said:

I really need to pick your brains on this. I just returned from M&S and Waitrose, which close at 9pm and 10pm, respectively. Not a single reduced item in the former, a single packet of coocked ham reduced by a measly 20% in the latter. Dropped in to Sainsbury's on my way back home, they close at 10pm, managed to find to small pieces of beef loin reduced by 33%.

My wife went to a nearby Tesco Extra last Saturday, they open until midnight so she went 10:30-ish. Nothing, nought, nada. There's also Morrisons in a cycling distance, haven't checked it our yet.

Wrong days? Wrong hours? Wrong stores?

M and S seem to drop prices around lunch time, think there is a website showing when each store gets the whoopsie stickers out.

[Dogtania]

@leonardratso. I think it's the Philippines that's cheapest, as in iirc 20%.  I would have assumed somewhere like Pakistan would have been but guessing they take more into account then just average wage (demographics and who would be likely to use so in some poorer country's the middle class affluent use whilst most don't and they can weather higher fee).  

Not sure how Netflix would work, years ago a friend visited NY and realized the whole selection was different so for a while used VPN for more choice but if you say chose Brazil mostly everything is in Portuguese.... Would imagine the same nowadays.  Back then Netflix didn't care much (we paid Uk price so why would they) but think with rise of people doing it pressure came from outwith Netflix (my guess) to stop this.  I have heard people anecdotally do this to bill cheaper though but I'm paying for a few people so not looking at it now - probably wrongly but I also rate the service higher than the Spotify, no doubt now there becoming entrenched Netflix are/ will bump up the prices etc

[Castlevania]

1 hour ago, leonardratso said:

funny you should say that, i know someone who uses a vpn to pretend they are streaming netflix from somewhere like kuala lumpar where its dirt cheap by comparison.

I cant remember where it was to be honest but when i looked at the price differential it really was a good 60% cheaper, i didnt pay too much attention to be honest, since i dont really watch much tv or films etc, i never really have and its never bothered me.

That’s for the content not the cost. Want to watch Hollywood blockbusters before they’re in the cinema in the UK? Use a vpn and pretend you’re in Mexico or Brazil.

[leonardratso]

35 minutes ago, Castlevania said:

That’s for the content not the cost. Want to watch Hollywood blockbusters before they’re in the cinema in the UK? Use a vpn and pretend you’re in Mexico or Brazil.

nope he definately did it for the cost, think he paid via the local currency too (via revolut or star??? something), cant remember, and yes as above phillipines sounds familiar.

[Bear Hug]

On 28/06/2018 at 10:50, Inoperational Bumblebee said:

 

I was going to say this - if it's LSE listed then just use AJ Bell's Regular Investment option at £1.50 a go. Sometimes something isn't available, so just ask them to add it. They put IBTL on when I asked.
Unfortunately this won't be available for those listings on stock markets outside the UK

The cheapo options like Freetrade or DEGIRO don't have the option of the ISA wrapper, which precludes using them as far as I'm concerned.
FWIW, Revolut are bringing commission-free trading soon too.

Thanks, that's useful. I wonder if on the 10th of each month LSE's prices rise slightly when AJBell's customers regularly invest. 

[Bear Hug]

On 27/06/2018 at 23:05, Admiral Pepe said:

Seems like IB offer some form of sipp, but perhaps require a certain amount to have an account with them? Their website is a bit convoluted to be fair and I can't be bothered to dig through it atm.

I've just come across https://www.degiro.co.uk/ who seem really cheap. Has anyone got any experience with them?

Also, offer the ability to transfer in GBP, Euro's and USD, people could use revolut etc to save on FX if they don't have the currency already. Upon further reading, they don't allow that. Does seem their fx charges aren't bad though. So overall it appears these guys make it a bit more cost effective to dollar cost average in.

 

Degiro looks pretty cost efficient actually.  I have just opened an account - will see how it goes.

It does appear that one of the ways they make money is a 0.9% charge on instant transfer (via Sofort) as an alternative to waiting for 2- 3 working days for a standard bank

transfer.  As a comparison, AJ Bell had funds available to invest straight away, even when my transfer failed!