Owning your own home

This too.

Sorry but a 30% drop is just dinner-table bollocks when there is such a shortfall in supply and demand.

Malaysian and Chinese investors might exercise caution in Battersea and One Hyde Park but homebuyers in the UK don't have Swiss bank accounts with siphoned government money to call on.

Cut in interest rates still on the cards - meaning cheaper lending and even more people trying to get on the ladder.

Even the NAEA's gloomiest forecast is that London could see losses up to £7,500 on average over the next three years, compared to where they otherwise would have been. Nationwide they predict values could fall by £2,300 over same period. But as long as shortfall in housing stock remains, prices will continue to rise regardless so all it means is a slower rate of increase, rather than a fall in real values.

And again, if the Bank of England were forced to cut rates, all these projections are moot anyway.

Rent by all means but don't expect not to be fucked by B2L Henry's for the privilege of paying off their mortgage. Prices will continue to rise. Perhaps not as fast as they might have. But every fucker wants land in London (for some mad reason) and they're not making any more of it.

did you write back?

"lolz, you aint having my money"

I did.

I all but wrote that if he is so sure that prices would not drop, he should sell me (for free) an option / insurance on prices remaining stable.

Time will tell though.

Awaiting new boiler quote. 30kw Worcester Bosch condensing compact boiler with optional filter. Powerflush of 9 radiators. Relatively simple fitting.

Hoping for about £2-£2.5k.

Pre-Brexit, we were going to go travelling for six months in the new year and rent out our house whilst we're away, then sell up when we get back and move out of London.
This seemed to be win-win as we get some income to cover mortgage whilst away, cheap rent for a mate and the 'investment' keeps track of house prices.
Now we have no clue what to do - any ideas?

/first world problems

Sell your house to me for £10. I'd be doing you a favour really.

Are you mad? £10? The man said he was travelling. Here gentle sir, let me offer you the princely sum of €10 for it...

Very generous offers, would you consider paying in instalments to my offshore account to avoid Mr Tax?

You need to look at the figures, mortgage price, principle paid off each month, gross rental income etc

eg, your mortgage is 1500, 750 pays of capital, 750 interest. You
rent out at 2000 but after tax, fees, upkeep you get 1500 gross.

the 1500 covers your mortgage but as 750 is paying off the principle
then you will 'get that back' when you sell.

So before market change you will reduce the size of you mortgage by
(750*6) 4500.

It's not so much that (we would be well covered) but whether house prices in London change relative to those outside London and compared to money in the bank/invested...
It was much simpler when everything was stable. ¯_(ツ)_/¯

Anyone got any recommendations for stripping paint off wood door frames. Probably about 8-9 coats of the stuff on there. I've tried some test patches of Peelaway 1 and whilst it removes the paint well, it still requires removing it with a scraper. Which makes me wonder if I'd be better off doing it with a heat gun?

Check the diy thread. The answer is an IR heater, yes they are expensive but they do an excellent job, far far better than any of the other options.

Cheers, Airhead. I will >>>>>>>>>>>>>>>>> to the DIY thread. But before I do, may I ask if this counts as an IR heater? http://www.screwfix.com/p/energer-2000w-heat-gun-240v/59740?_requestid=183226

No, that's a hot air gun. Try searching Speedheater Cobra. One or 2 diy thread posters bought them on my recommendation and thought they were pretty awesome, which they are.

I think there are too many factors to give a simple answer, so I would do as dst said, work out the numbers and stick to your plan of going away.

For most people it is hard to find times in their life when they could take 6m off. If you have that opportunity don't pass it up.

Imo un-expert opinion London prices will more or less be stable over the next 18m (provided you are in a sensible location and the property is somewhere people want to live, rather than somewhere they are prepared to compromise to). Properties outside London will see a small decline.

If you know what you are doing, the most turbulent times tend to have to greatest opportunity. But if you're not a financial guru and don't want to spend your trip studying your investments then it wouldn't be my first choice.

If you have work when you return worst case you come back and live in your place.

Just a general musing to put out there....

A mate was looking at the help to buy. He ultimately discounted it because of what he saw as the huge premiums attached to new builds.

With the shortage of housing in London I can't see a huge shift, but in some areas such as new builds where developers still need to extract their capx I'm sure there could be scope for a deal.

A suspicion and nothing more:

New builds in London have high premiums on them at least in part because foreign investors like the security and guarantees that come with new build properties. With the crash in the pound, those foreign investors who suspect that the pound is as far down as it will go, or is nearly, will still want to invest, helping to ensure that those premiums remain higher than they might otherwise.

Same, but smaller. Vailliant. £2k or thereabouts.

Nitro mors, big rubber gloves and a scraper is good for taking tons of layers off too.

hey, heat gun and lots of elbow grease is needed. Will be worth it in the long run. Any help needed let me know

I wonder if Nitromors will get good again now we're leaving the EU...

worst case you come back and live in your place.

Well yeah exactly, this has always been my philosophy but I now feel responsible to make the 'best' choice with what luck and generous inlaws has gifted us.

Ultimately, no one really knows what's going to happen in the housing market over the next year or two. Even the experts disagree. Unless you were really unhappy in your house, I'd stick to your original plan and see what the state of things is on your return, then make a decision. As Hugo 7 said the worst case would be still owning/living in a house in London. And that's always going to be a good investment in the long run.

Using the property bee app on Mozilla, about half a dozen of the listings I have been keeping an eye on have been amended in the last couple of days, mostly showing a 5-7% decrease. Negative sentiment is beginning to take hold.

That said, I don't think we are going to end up with a sustained 30% decline in prices, like 1998. Low interest rates will halt any real creative destruction in London for the time being. That said, if we go to parity against the Euro and $1.15 as predicted by Deutsche Bank, input inflation could cause a rout and begin a pressure cooker enviornment for a couple of years.

Despite all the gloom, I am hoping to exchange next week having gotten a 10% discount from list. Hopefully someone will insure my mortgage or else it's going to be a very nervy 24 months......

I was more fine with it before this https://www.lfgss.com/comments/13061959/