Deep Singh

Please don't stick your fingers up at me its very rude, you wouldn't survive in the public sector with that sort of attitude.

I can be very sure actually. The govt may fiddle with the scheme at the edges but not much will change. They know that most NHS staff stay in the NHS because of the pension, if that was taken away myself and many of my colleagues would leave and go 100% private, then the NHS would collapse.
It would have to hire us all in again at sessional rates of pay, which I can tell you will cost them 5-10 times more

Can't wait for that lump sum, 3 times 0.6 of my final salary!

cookstar

iTrader: (6)

Do you have to contribute much for those kind of benefits, we get very much the same, but have to pay quite a bit for it.

Paul3446

I would say that these types of pensions are very much at risk, they are pretty much non-existant in the private sector now and with the credit crunch, the public sector could be next.

Plus you can't all just go and work for the private sector, there can't be that many jobs available!

njkmrs

I will just stick my tongue out then .
There is another post for this anyway .Public Sector Pensions Rip Off !!!
You may find this was,nt aimed at you if you find the other post .

Right back on Track .
Tomorrows Interest rate cut ,is it going to kick start the Housing Market ????

lozgti

How bout ditching HIPS to start with.

And no.Doesn't matter what the interest rate is if no one will lend money to you (or at least not enough or only to those with money for deposits

Paul3446

I don't think it will affect the housing market, but if it comes down to 1% then my mortgage payment will be about £73 a month!

njkmrs

[QUOTE=lozgti;8404297]How bout ditching HIPS to start with.

Yep ,total waste of time .Serve no purpose whatsoever .Get Rid .

PeteBrant

I actually think HIPS is a good idea. Why should conveyancing solicitors potentially get the same money for doing nothing over and over again?

Also, should it not be the Vendors responsbility to ensure thier property has amuch information available upfront?

Deep Singh

Cookstar, I'd have to check its either 6% or 9% of my salary. Its a bargain though as its gauranteed, its not stock market etc related

Paul, most could work for the 'private sector' believe me. By private sector I don't just mean private hospitals but resigning your NHS post and then presenting yourself available for the same job on a locum/sessional basis. Much like contract work if you like. The NHS needs all its front line staff to get the work done, it couldn't cope with a mass exodus so they would have to take us all back

The reason most keep their NHS post is because of the pension, if this was changed drastically, especially retrospectively, then many would leave as I have explained above.

Those in the private sector are all very happy in the good times when the public sector lags behind with below inflation pay rises and no bonuses etc. Whats your problem now?

You are all very happy to let Drs/nurses/healthcare assistants clean peoples **** and vomit, let the police face being stabbed or shot on your behalf and then give them nothing in return for the service they provide society.

Deep Singh

I know its not aimed at me, but public sector employees inc Drs/nurses/police/hospital porters/dustbinmen/firebrigade/ambulance drivers etc. The NHS is the biggest employer in the country, so we make up a large proportion of public sector employees

Btw, the IR cut will not have any effect on the housing market at all, nothing will, it needs to run its course.

All those idiots who over borrowed or withdrew equity to buy flash cars or bought off plan flats (in certain areas in the last few years) are going to get spanked. Many would say they deserve it for their utter stupidity in not planning for the day that the economy would falter

njkmrs

[QUOTE=PeteBrant;8404324]I actually think HIPS is a good idea. Why should conveyancing solicitors potentially get the same money for doing nothing over and over again?

The thing is though ,your Mortgage Company then expects (you )the Purchaser to have a survey to make sure Their Money is being spent wisely ,which gives the same info again ,so it seems there is a doubling of the same info anyway ,at someones expense ,ie either the seller or the purchaser .
This has been covered previously between the two parties in the selling price,ie knock a bit off and purchaser is happy ,that what they have reduced price by covers some of their expenses .

SunnySideUp

Wouldn't be too sure ..... the reality is hitting me that we are just at the beginning of this collapse.

I have been contacted by a couple of Estate Agents offering me properties, which just 3 months ago, would have been such bargains I would have jumped in at their new asking prices - not now!!

These properties have been reduced by 35% from their July 2008 asking prices ..... yes, maybe in July 2008 they were overpriced - maybe not so?

Point is that the Agent has told me that there is huge interest in these properties and I had better get into action FAST ....... same as he did on a bungalow 6 weeks ago which had dropped from £350k to £210k - it is still unsold and on with more agents in a desperate attempt to attract an offer

Dire isn't the word for it .............

cookstar

iTrader: (6)

Thing is, how much lower than £85k can a 1 bed go? not much..

davegtt

But thats more so because who wants to spend £210k on a bungalow apart from those downgrading, which would be pointless in the current market anyway. Cookies point is £85k on a flat is a reasonable price to pay for someone who can afford to take out a mortgage on it. Not many people are able to get a £200k mortgage, especially wanting a £200k mortgage for a bungalow!!!!

SunnySideUp

I was buying and selling in the last collapse and I would ask you to remember one thing - a certain type of property becomes unsaleable at ANY amount!

A 1 Bed Apartment/Flat/Studio in 1990 around here dropped to £18k .... no buyers even at that price! 3 Bedroom Detached (mine) sold for £66k - which is what a 1st time buyer could now afford [previously, they had to buy the Studio Flats for around £55k as thats all they could afford].

My point being that you should NOT buy anything which no-one wants - at any price - and right now no-one wants 1 bed. properties (simply because they do not have to compromise ... and a 1 bed is always a compromise!).

But you go ahead if you feel sure about it ................ better to spend £125k on a 2 bed. semi ..

SunnySideUp

Someone looking for a Holiday Home by the Sea perhaps?? Plenty of money out there waiting for the bottom!!

Matteeboy

Less of the bungalow bashing please...



Some of them, with 5 beds and 5 acres and views like this are rather nice.

cookstar

iTrader: (6)

Some good points, may be better off spending a bit more and getting a bigger place.

davegtt

Ahhh maybe Mattee, but we aint talking about renting

Joke btw...

My point Pete, was that house prices will continue to go down, I wholeheartedly agree, BUT only to a point where people can afford to buy again. There are loads of people still waiting to get out of their parents house and buy their own place. We are in a generation of want now, worry about tomorrow later, as soon as someone see's something they can afford to get they'll be jumping back soon enough

PaulC72

But surely the investors would be after 1 bed properties if they were really cheap, people will still want to rent them out.

austinwrx

anyone see the prog on BBC 1 last night re: mortgage re-possessions, that was interesting.

very sad, but really the 3 families involved had mastered their own destiny by over borrowing, loans etc etc.

FlightMan

But how many of them have the 20/30/40% deposit that is now required? I don't see prices getting back to 2007 levels for a decade. And a damn good thing that is too.

All these people bleating about house prices falling and negative equity, after they've MEW'd until there was no tomorrow for new cars, holidays and such like.

It makes me so angry. Copyright Mr Angry, Steve Wright in the afternoon circa 1985.

davegtt

Thats what Im saying, when the price gets to an affordable level, Many of these 25-30yr olds who are still living with parents are owning a £8-10k car etc... They do have money. 8-10k is peanuts for a deposit on something like a £210k bungalow as mentioned earlier but on an 85k house its alot.

Deep Singh

I think its what they call 'catching falling knives'

A £85k flat only has to lose £15k for you to have lost almost 20% of its value. That may well have been the deposit put down, so in other words you have lost 100% of your investment. If you had put down 40% deposit, your investment has just halved in value. Its a leveraged investment, which is great on the way up, but lethal on the way down

Deep Singh

Alot of these people will lose their jobs over the next year or so I suspect

davegtt

Who ******* cares if youre buying the house to live in and happy with what you are getting for your money. Never stopped anyone buying a new car knowing its going to fall in value.....

Sure, if you are buying as a short term investment I can see your point Deep.

davegtt

We dont all work in Department stores you know. For plenty of places it'll be business as usual

cookstar

iTrader: (6)

I see what your saying, but I doubt it will be worth less than £85k in 20 years. Which is the kind of period I'm looking at.

Deep Singh

Its not just Dept stores that will close matey. Factories (Fords are already only producing 3 days a week for example), estate agents, publishers/printers, anybody connected in any way to building trade, financials etc the list goes on.

We will have three million + unemployed very soon, it might be even more