Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
It's why I was so desperate to get the flat. I knew that one like this would not come onto the market again for a while and I wasn't interested in a leasehold. I think I paid slightly over the odds for it, but for my needs it is perfect, two bedrooms, possibility to expand for a third bedroom if the gf and I ever decide to start a family and my income is still rising as I got a big promotion after my move to Shanghai didn't work out as intended.
You may be able to finance the loft conversion by remortgaging - should you so wish!
I think the next few years are going to be about reducing my massive mortgage more than anything else. It does feel like a huge weight on my shoulders right now at just under £400k.
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
a) How many houses would Labour have to build to stop prices rising ?
b) Where would they be, when would they be completed and what measures would ensure that more houses were built than under the previous Labour govt ?
c) How would Labour stop foreign investors buying these homes ?
Look forward to your replies.
The answer to the last question is build council houses for rent. Indeed, were Labour to begin a council house building programme, many of the people now paying high rents for short-term properties would stop trying to buy at the bottom of the market and the overall price level would drop.
I really don't care what the "value" of my home is; we've no intention of selling it.
Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
Except share of freehold isn't 'very' rare.
It is where I bought. Most flats were sold as some portion of a 99 year lease.
Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
Except share of freehold isn't 'very' rare.
Erm, I think you'll find it is bloody rare for flats in many parts of London
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
I agree with this post, actually
The wealth gained from owning London property is not entirely imaginary. If you are happy to cash in your chips at some point - and move out of town to the sun, or the coast, or a big house with a garden, or indeed anywhere not in London, then you make a big fat profit.
It's only if you are determined to stay in London that the increase in your personal wealth, from rising house prices, is an illusion.
I have plenty of friends who see their London properties as their pension, and they are almost certainly justified in doing so.
I will add that part of the reason I was so intent on buying in zone 2 was to benefit from any future price rises so if I do ever decide to sell my flat will be worth significantly more than what I am buying it for. It might not be for a while that I decide to sell, but I do intend to benefit from rising property prices and the huge level of foreign ownership in zone 1 driving professionals and such out into zone 2.
Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
Except share of freehold isn't 'very' rare.
Erm, I think you'll find it is bloody rare for flats in many parts of London
The Right like nuclear (and fracking) because it's a centralised, corporatist solution that favours some of the biggest businesses and vested interests there are.
Which is part of the reason Cameron and Osborne have just blithely chucked so much of our cash at the French and Chinese Governments.
Given a choice, I'd prefer something cleaner, safer, more sustainable and potentially cheaper like tidal.
Though ideally, we'd have both, plus wind, solar, and anything else we can think of. The sooner we de-carbonise our energy supply the better.
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
I agree with this post, actually
The wealth gained from owning London property is not entirely imaginary. If you are happy to cash in your chips at some point - and move out of town to the sun, or the coast, or a big house with a garden, or indeed anywhere not in London, then you make a big fat profit.
It's only if you are determined to stay in London that the increase in your personal wealth, from rising house prices, is an illusion.
I have plenty of friends who see their London properties as their pension, and they are almost certainly justified in doing so.
Sean - fair enough. That's true (although my house has a garden already!). I just cannot see myself living in Bumpkinshire - although I admit that come retirement age I might feel differently
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
I agree with this post, actually
Same here.
How tragic though, to see the Tories repeating all of the last Government's mistakes. A political calculation to do so, too. They truly learned nothing whatsoever from the Financial Crisis.
Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
Except share of freehold isn't 'very' rare.
Erm, I think you'll find it is bloody rare for flats in many parts of London
Purpose built blocks maybe, but not conversions.
In general most flats in London are leasehold - you can argue the toss over the exact style but if Max was seeking a flat in W12 then the vast majority would be leasehold, as in most parts of the capital.
Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
Except share of freehold isn't 'very' rare.
Erm, I think you'll find it is bloody rare for flats in many parts of London
Purpose built blocks maybe, but not conversions.
In general most flats in London are leasehold - you can argue the toss over the exact style but if Max was seeking a flat in W12 then the vast majority would be leasehold, as in most parts of the capital.
Definitely true, around 1 in 10 were offered as SOF the rest were on some portion of a 99 year lease.
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
I agree with this post, actually
The wealth gained from owning London property is not entirely imaginary. If you are happy to cash in your chips at some point - and move out of town to the sun, or the coast, or a big house with a garden, or indeed anywhere not in London, then you make a big fat profit.
It's only if you are determined to stay in London that the increase in your personal wealth, from rising house prices, is an illusion.
I have plenty of friends who see their London properties as their pension, and they are almost certainly justified in doing so.
It's amazing to think that just 15 years ago most of London was still affordable. Places like Hampstead, Chelsea etc were off limits, but Kentish Town, Camden Town, Tufnell Park were eminently doable. I was earning something like £25,000 pa in the mid-90s, my wife was on about £20,000; we bought a three bedroom house with a garden, just off Hornsey Road for £125,000. It's now got to be valued at well over £500,000.
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
No doubt you are right, but there is recent polling (can't track it down) showing that people are a bit less gung ho than they were. If you both own a house, and have children, and don't have the capital to buy them houses outright a la Osborne, price rises are a net Bad Thing.
Pending any final issues, I just became one of those property owning bastards I love to hate! Two bedroom flat in Shepherds Bush! Absolutely stretched myself to the limit but I have agreed a large overpayment limit with Barclay's so I hope I can get my indebtedness down fairly rapidly. It is also a top floor flat with an undeveloped attic which I intend to develop in the future at some point for a new master bedroom.
Make sure you own the attic space, Max.
In most conversions with leasehold flats it is likely to be owned by the freeholder.
Share of freehold. It's a townhouse. I definitely own the attic though, I made sure of that before committing to the purchase.
Again - very wise. And well done on getting SOF on a flat -- very rare and, as a former leaseholder, I can attest that you want to avoid that tenure where you can. Ancient legislation that screws the 'owner'.
Except share of freehold isn't 'very' rare.
Erm, I think you'll find it is bloody rare for flats in many parts of London
Purpose built blocks maybe, but not conversions.
Very rare indeed for mansion blocks, or on places like the Grosvenor and de Walden estates. As you say, very common for conversions and small blocks. With a large block, you need to establish a tenant's management company to buy the freehold. The tenants then own shares in the company, and transfer the shares when they sell their flat.
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
I agree with this post, actually
The wealth gained from owning London property is not entirely imaginary. If you are happy to cash in your chips at some point - and move out of town to the sun, or the coast, or a big house with a garden, or indeed anywhere not in London, then you make a big fat profit.
It's only if you are determined to stay in London that the increase in your personal wealth, from rising house prices, is an illusion.
I have plenty of friends who see their London properties as their pension, and they are almost certainly justified in doing so.
It's amazing to think that just 15 years ago most of London was still affordable. Places like Hampstead, Chelsea etc were off limits, but Kentish Town, Camden Town, Tufnell Park were eminently doable. I was earning something like £25,000 pa in the mid-90s, my wife was on about £20,000; we bought a three bedroom house with a garden, just off Hornsey Road for £125,000. It's now got to be valued at well over £500,000.
The psychology of house price inflation in the UK is interesting, otherwise rational people (and Sean) suddenly get involved in some Crucible type mass hysteria. Politically though if the bubble goes up this fast there's a danger the BoE may have to step in before the election
As an aside housing should be Labours way back into the SE through the under forties who Osborne is crucifying
Except that people Feel Good when their properties go up in value: which is good for the Tories, as house prices are now inflating. You can decry this all you like from your semi in the Wirral, and tell us how you are glad prices in Liverpool are uniquely falling, as you can buy the crackhouse next door for a tenner, but it is the case. People like to feel richer, even if it is semi-illusory.
I've no doubt rising house prices are a factor behind the mini Tory resurgence since Xmas.
I agree with this post, actually
The wealth gained from owning London property is not entirely imaginary. If you are happy to cash in your chips at some point - and move out of town to the sun, or the coast, or a big house with a garden, or indeed anywhere not in London, then you make a big fat profit.
It's only if you are determined to stay in London that the increase in your personal wealth, from rising house prices, is an illusion.
I have plenty of friends who see their London properties as their pension, and they are almost certainly justified in doing so.
It's amazing to think that just 15 years ago most of London was still affordable. Places like Hampstead, Chelsea etc were off limits, but Kentish Town, Camden Town, Tufnell Park were eminently doable. I was earning something like £25,000 pa in the mid-90s, my wife was on about £20,000; we bought a three bedroom house with a garden, just off Hornsey Road for £125,000. It's now got to be valued at well over £500,000.
Yes, I find the London figures quite bizarre.
They aren't making any more land and London remains one of the great cities of the world.
One good thing about the housing bubble led Feel Good Factor in the SE is that is places massive pressure the govt to keep interest rates at rock bottom. Massive mortgages like mine are only affordable with low interest rates - ditto Max and other London brethren.
Inside inner London it's hard to see how prices are ever going to go down. The rises may tail off for a while, but short of the City imploding I doubt we'll see any kind of serious, sustained correction. The ones who'll get burned are in outer London and the commuter belt. I have a few friends in places like Chelmsford and Basildon who got very badly hit in the early 90s.
It's amazing to think that just 15 years ago most of London was still affordable. Places like Hampstead, Chelsea etc were off limits, but Kentish Town, Camden Town, Tufnell Park were eminently doable. I was earning something like £25,000 pa in the mid-90s, my wife was on about £20,000; we bought a three bedroom house with a garden, just off Hornsey Road for £125,000. It's now got to be valued at well over £500,000.
"From 2002 to 2008, Labour had seven years unencumbered by economic crisis or the compromises of Coalition. And life for the average worker actually got worse. "
One good thing about the housing bubble led Feel Good Factor in the SE is that is places massive pressure the govt to keep interest rates at rock bottom. Massive mortgages like mine are only affordable with low interest rates - ditto Max and other London brethren.
Hence the massive overpayment limit I agreed with Barclay's. In addition to my annoyance with tax policy on allowance withdrawal above £100k. I can only afford for interest rates to rise to around 2.5% before I would find it tough to make repayments and live comfortably, I figure I have 3 years to overpay and reduce the mortgage to a more manageable size.
Inside inner London it's hard to see how prices are ever going to go down. The rises may tail off for a while, but short of the City imploding I doubt we'll see any kind of serious, sustained correction. The ones who'll get burned are in outer London and the commuter belt. I have a few friends in places like Chelmsford and Basildon who got very badly hit in the early 90s.
Define outer London - anywhere with a London postcode is safeish, I reckon. The places you cite are way outside the capital - they are not London.
Separately, and for the first time ever, to deal with clean-up costs of new nuclear, developers will be required to put money aside in a protected clean-up fund to pay for eventual decommissioning and share the waste management costs.
This is anticipated to account for around £2 of the strike price.
"From 2002 to 2008, Labour had seven years unencumbered by economic crisis or the compromises of Coalition. And life for the average worker actually got worse. "
Its a quite remarkably sudden flat lining of median wage that hit the UK in 2002. Shame there wasn't an average house price graph superimposed on top.
Inside inner London it's hard to see how prices are ever going to go down. The rises may tail off for a while, but short of the City imploding I doubt we'll see any kind of serious, sustained correction. The ones who'll get burned are in outer London and the commuter belt. I have a few friends in places like Chelmsford and Basildon who got very badly hit in the early 90s.
Define outer London - anywhere with a London postcode is safeish, I reckon. The places you cite are way outside the capital - they are not London.
Yes, you're probably right - in North and West London; not so sure about the East and South, especially the South.
For me London starts at Borough market, goes north to Tottenham; east to Stoke Newington and west to the Natural History Museum. Nowhere else counts.
The Right like nuclear (and fracking) because it's a centralised, corporatist solution that favours some of the biggest businesses and vested interests there are.
Which is part of the reason Cameron and Osborne have just blithely chucked so much of our cash at the French and Chinese Governments.
Given a choice, I'd prefer something cleaner, safer, more sustainable and potentially cheaper like tidal.
Though ideally, we'd have both, plus wind, solar, and anything else we can think of. The sooner we de-carbonise our energy supply the better.
According to the BBC tidal is ~£300 /MWh, three times the price in todays deal.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
This thread reads like the dinner party from hell.
Says the London-property-owning lawyer on £500k a year.
It's all very well for you to be lofty, but for some of us less-well-remunerated metrosexuals the potential value of our homes is endlessly fascinating - unless I get that film deal, when I will immediately adopt your world-weariness.
If estate agents are to be believed*, I'm currently earning considerably more from my property portfolio than I am as a lawyer. If you knew the effort it takes to affect world-weariness...
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
Well, yes, of course, but my point was that the prices being bandied about in the media are 2012 prices, and we are barely more than three score and ten days from 2014.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
Well, yes, of course, but my point was that the prices being bandied about in the media are 2012 prices, and we are barely more than three score and ten days from 2014.
Surprised nobody has trawled up a historic graph of CPI and electricity wholesale prices.
Can I just say that in an age of austerity and governmental cuts saving China the price of intercontinental delivery systems is remarkably considerate.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
Well, yes, of course, but my point was that the prices being bandied about in the media are 2012 prices, and we are barely more than three score and ten days from 2014.
Surprised nobody has trawled up a historic graph of CPI and electricity wholesale prices.
I would suggest there is limited correlation.
Since energy costs are a component of CPI, I would suggest there is a non-zero correlation, but that has nothing to do with my point.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
Well, yes, of course, but my point was that the prices being bandied about in the media are 2012 prices, and we are barely more than three score and ten days from 2014.
Ah yes, point taken. In situations like this, does CPI accrue daily, or would the price just go up once a year?
...Here is the statement from Inspector Ken MacKaill of West Mercia Police, Detective Sergeant Stuart Hinton of Warwickshire Police and Sergeant Chris Jones from West Midlands Police:
‘We are making this statement in response to public concern generated by the widely reported outcome of West Mercia’s investigation into matters arising from the meeting we had with Andrew Mitchell MP in his constituency on 12th October 2012.
‘The reputation of, and public confidence in, the police service is of immense concern to each of us.
‘We acknowledge the investigation’s criticism relating to our poor judgement in talking to the media following the meeting with Andrew Mitchell, for which we take this opportunity to apologise.
‘We would like to emphasise (as we did to the investigation) that in no way did any of us ever plan or intend to mislead anyone about what occurred during this meeting or otherwise.’
This is a funny apology indeed...The chief constables of West Mercia, Warwickshire and West Midlands Police are up before the Home Affairs Select Committee on Wednesday, where they will doubtless by asked by the MPs in the room why on earth their colleagues issued the sort of non-apology that you’d normally hear from a politician, not a policeman.
Interesting sales figures for Rolls Royces in France last year ?
The total ? ZERO.
"Professor Régniez believes this is very dangerous. “Sarkozy narrowly lost in 2012 for personal reasons – his style annoyed voters who could have agreed on his policies, but who wanted to punish him: 18 per cent of them voted for Marine Le Pen, against only 5 per cent for her father in 2007.
“This should be a warning to other countries, like Britain – it’s all very well punishing a conservative politician you’re dissatisfied with by voting for a maverick, Le Pen here, Farage there. But it gets the likes of Hollande elected. Think well: is ours the kind of future you want for your country?”"
Ian McLoughlin, an offender previously convicted of murder, was today convicted of another murder at the Central Criminal Court on the basis of his own plea. The starting point for such an offence is a whole-life order, pursuant to paragraph 4 of schedule 21 to the Criminal Justice Act 2003. However, Sweeney J held that he was prevented from passing such a sentence by the judgment of the European Court of Human Rights in Vinter and others v United Kingdom, and directed that the defendant serve a minimum term of 40 years instead. This is despite the fact that Jeremy Baker J has passed whole-life orders in R v Smith & Newell at the Crown Court at Warwick after the judgment in Vinter had been issued by Strasbourg. Two High Court Judges have now openly disagreed about the effect of the ruling, and pending resolution of the matter by the Court of Appeal, the future of the whole-life order will be open to doubt, with damaging political consequences for the government.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
Well, yes, of course, but my point was that the prices being bandied about in the media are 2012 prices, and we are barely more than three score and ten days from 2014.
Ah yes, point taken. In situations like this, does CPI accrue daily, or would the price just go up once a year?
I expect it would just go up once a year, as the market price it will be compared to is intended to be the year-ahead prices - but from the draft documents it seems they are having difficulties finding an objective way to determine this price.
A lot of these details haven't been settled yet, because the mechanism of a strike price/contract for difference is all part of the Energy Bill still making its way through Parliament. [NB - it seems that it is not a price floor as I said earlier, if the market price increases above the strike price then the excess will be refunded to customers]
Stace @stackee Because they might take it down, and the amusement should be shared by all - when training exercises go wrong: pic.twitter.com/wMcPQYvK1Z
Here's an interesting RNS I've only just seen on Royal Mail.
As I read this it appears HMG has leant a chunk of Royal Mail shares to A.N.other(s)... now this could be to help those selling short to settle their trades, often what stock lending is all about.
Now why would that be I wonder?
[caveat - I think I'm reading this right, tad rusty these days]
This thread deserves some kind of award for the "dinner party from hell" post from Antifrank and DavidL's post on intercontinental delivery systems.
As for house prices - I'd much rather my home was worth less and my children had a chance of buying somewhere to live in London if they want to, at least before I'm dead...... Houses are for living in - or they should be.
FT Property Correspondent on R4 PM - London boom 'no evidence this is a credit driven boom - its foreign investors and cash buyers......London is completely different from the rest of the country....'
That was my reaction 'we shouldn't have lied talked to the press......'
We're clearly both wrong.... Dan H agrees with us...
Dan Hodges@DPJHodges29m If the officers in the Mitchell meeting didn't intend to mislead anyone why did they leave the meeting and lie to everyone?
They've been invited to the Home Affair Select Ctte:
Michael Crick tweets: Keith Vaz says he's summoning 3 Police Fed officers to Home Affairs Committee to provide "full explanation" + evidence helpful to committee
Isabel Hardman on the Police Fed Reps non-apology apology:
"This is a funny apology indeed. It doesn’t say sorry for what the officers said – which was ‘he’s continuing to refuse to elaborate on what happened: I think his position is untenable’ – but apologises for talking to the media, and then says the officers never intended to ‘mislead anyone about what occurred during this meeting or otherwise’.
The three policemen have offered a pathetic 'apology', and they've offered it to the wrong people. None of the three deserve a place in law enforcement.
The three policemen have offered a pathetic 'apology', and they've offered it to the wrong people. None of the three deserve a place in law enforcement.
Mr. Watcher, that would've been a more dignified and truthful apology. The police really aren't covering themselves in glory.
The liars need to sacked. You don't deserve to be in law enforcement or enjoying a cushy pension when you've abused your status and authority to stitch up an innocent man for political ends.
Can I apologise to Andrew Mitchell for having lunch today and meeting with a client. It was not my intention to do so when I got up this morning,
Can I also apologise to tim as I had totally expected today to be a tasteless one on here with repeated references to Osborne and various lewd suggestions but he has risen above my expectations, well I think he has, haven't the time to read everything!
The three policemen have offered a pathetic 'apology', and they've offered it to the wrong people. None of the three deserve a place in law enforcement.
"We're sorry that we got caught out".
More likely, "we're sorry that we didn't frisk Mr. Mitchell prior to our meeting"
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
Mr. Watcher, that would've been a more dignified and truthful apology. The police really aren't covering themselves in glory.
The liars need to sacked. You don't deserve to be in law enforcement or enjoying a cushy pension when you've abused your status and authority to stitch up an innocent man for political ends.
Threaten them with the sack, and wait for the calls for strike action.
I note that all media channels are awash with calls from their fellow officers for them to go. Or not.
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
Thank you Labour!!! 62% actually..... you forgot NI.
Pension contribution via salary sacrifice = no brainer... £1 in your pension costing you just 38p.
Mr. Watcher, if you let a disease run its course the result can only be fatal. Even if it means painful treatment, the pestilence must be killed.
The Romans let barbarians into their armies, and soon it was the barbarians who had the whip hand. We have a police force that is heavily politicised and which appears to have stitched up an innocent man for their own ends. They must go.
Parliament is not held in high esteem, but it is the cockpit of democracy, and it is where the people send their representatives. We're not a police state, and the police must be answerable to the people, through their elected representatives.
Also worth noting that the £89.50 strike price (or £92.50 if EDF does not go ahead with Sizewell) is indexed to CPI and is in 2012 prices. So with CPI inflation at about 2.7%, the strike price for 2013 would be in the region of £91.92 or £95.00.
Yes, they would have been utter buffoons not to link the price to inflation, given the length of the contract.
Well, yes, of course, but my point was that the prices being bandied about in the media are 2012 prices, and we are barely more than three score and ten days from 2014.
Ah yes, point taken. In situations like this, does CPI accrue daily, or would the price just go up once a year?
I expect it would just go up once a year, as the market price it will be compared to is intended to be the year-ahead prices - but from the draft documents it seems they are having difficulties finding an objective way to determine this price.
A lot of these details haven't been settled yet, because the mechanism of a strike price/contract for difference is all part of the Energy Bill still making its way through Parliament. [NB - it seems that it is not a price floor as I said earlier, if the market price increases above the strike price then the excess will be refunded to customers]
Have I understood that correctly? If the market price is below the strike price the government pays, but if the market price is above the strike price the consumer gets the refund [presumably this is just shown as a negative on their bill rather than pay and then recredit]. Isn't that just moving a chunk of the bill to general taxation, or is the government's cost paid for via consumer loading of bills?
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
On the bright side....if you are married with two kids you are in the top decile.....if you are single you are in the top 2%....so somewhere between 90-98% of your compatriots wouldn't object to your problems.....
Police squirrel of an apology is working out well...
Michael Crick@MichaelLCrick7m David Davis on Pol Fed: "after bringing down a Cabinet minister, a half-apology won't do ...These people are guilty of a serious misconduct"
"From 2002 to 2008, Labour had seven years unencumbered by economic crisis or the compromises of Coalition. And life for the average worker actually got worse. "
Its a quite remarkably sudden flat lining of median wage that hit the UK in 2002. Shame there wasn't an average house price graph superimposed on top.
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
Thank you Labour!!! 62% actually..... you forgot NI.
Pension contribution via salary sacrifice = no brainer... £1 in your pension costing you just 38p.
unless got a monster mortgage to pay of course...
That was the advice given by the finance guy, make pension AVCs, but I have a mortgage to reduce...
I had already come to terms with losing 40% of my bonus to income tax, but to lose more than half of it is difficult to take.
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
Thank you Labour!!! 62% actually..... you forgot NI.
Pension contribution via salary sacrifice = no brainer... £1 in your pension costing you just 38p.
unless got a monster mortgage to pay of course...
That was the advice given by the finance guy, make pension AVCs, but I have a mortgage to reduce...
I had already come to terms with losing 40% of my bonus to income tax, but to lose more than half of it is difficult to take.
My extremely expensive IFA advice - do a bit of everything when you can't do all of one thing.
Lump sum repayment on mortgage = good, as return on your saved debt payments equivalent of amount paid off divided by 0.4 - 3% mortgage rate saving = gross equivalent return of 7.5%.
but then again £10k in pension costing you £4k (if only by AVCs) = good too...
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
Joking aside, that would royally feck me off as well. I can't imagine having that much money taken from my paypacket. You pay more tax than I earn!
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
On the bright side....if you are married with two kids you are in the top decile.....if you are single you are in the top 2%....so somewhere between 90-98% of your compatriots wouldn't object to your problems.....
I object too although I don't see that sort of money yet. It's wrong and the system is broken which is why flat taxes are the way forward.
Reactions like Carlotta's are a bit like the "the rich should pay more" attitude of those who define the "rich" as "anyone who earns more than I do".
Whether it affects you or not, the theory is broken and the principle is wrong.
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
One client of mine at circa £120k pa agreed with his employer to go 4-days a week.... hardly cost him much in take home pay.
Stupid marginal tax rates. Someone in finance just told me that because of allowance withdrawal the marginal rate from 100k to 118k is 60%. Bollocks off.
On the bright side....if you are married with two kids you are in the top decile.....if you are single you are in the top 2%....so somewhere between 90-98% of your compatriots wouldn't object to your problems.....
"the rich should pay more"
Isn't that Labour policy? Isn't it every parties' ex-UKIP?
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It does, however, mean that I will start looking at general tax avoidance where I can. Setting up an individual company has already crossed my mind once or twice, especially since I may cross the 45p rate in the next 2-4 years.
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It does, however, mean that I will start looking at general tax avoidance where I can. Setting up an individual company has already crossed my mind once or twice, especially since I may cross the 45p rate in the next 2-4 years.
It worked for Ken Livingstone, Beeb and HMRC employees ..
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It does, however, mean that I will start looking at general tax avoidance where I can. Setting up an individual company has already crossed my mind once or twice, especially since I may cross the 45p rate in the next 2-4 years.
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It does, however, mean that I will start looking at general tax avoidance where I can. Setting up an individual company has already crossed my mind once or twice, especially since I may cross the 45p rate in the next 2-4 years.
It worked for Ken Livingstone, Beeb and HMRC employees ..
Isn't it a little delicious irony that hedge funds are now calling the shots at Co-Op bank ... what could that mean for Labour's overdraft.... time for a change of tone?
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It does, however, mean that I will start looking at general tax avoidance where I can. Setting up an individual company has already crossed my mind once or twice, especially since I may cross the 45p rate in the next 2-4 years.
It worked for Ken Livingstone, Beeb and HMRC employees ..
The Coalition hasnt done away with IR35 though.
Indeed but didn't stop them... all depends really.
@MaxPB I'm afraid you make the perfect target for fleecing for more tax. Well-paid by most standards, never going to get any sympathy from the general public and where the likelihood of you departing elsewhere for the sake of a relatively narrow band taxed at a high rate is low.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It does, however, mean that I will start looking at general tax avoidance where I can. Setting up an individual company has already crossed my mind once or twice, especially since I may cross the 45p rate in the next 2-4 years.
It worked for Ken Livingstone, Beeb and HMRC employees ..
The Coalition hasnt done away with IR35 though.
Indeed but didn't stop them... all depends really.
I hope HMRC officials are going through all those senior public sector contractor arrangements in great detail. I'd want to know why not if they werent.
I really dont think that's where things are at. Unite havent got anything to consult members on.
If they're not careful, Unite are shortly going to be explaining to a number of their Scottish members why they're now unemployed, as a refinery is cut up for scrap.
Comments
I really don't care what the "value" of my home is; we've no intention of selling it.
Which is part of the reason Cameron and Osborne have just blithely chucked so much of our cash at the French and Chinese Governments.
Given a choice, I'd prefer something cleaner, safer, more sustainable and potentially cheaper like tidal.
Though ideally, we'd have both, plus wind, solar, and anything else we can think of. The sooner we de-carbonise our energy supply the better.
How tragic though, to see the Tories repeating all of the last Government's mistakes. A political calculation to do so, too. They truly learned nothing whatsoever from the Financial Crisis.
Good article on tidal from Walesonline
www.walesonline.co.uk/news/wales-news/cardiff-bristol-talks-harness-severn-6201060
Supply and demand.
Breaking: 3 Police Fed officials who met Andrew Mitchell re #Plebgate last year offer public apology to the MP for their conduct
Inside inner London it's hard to see how prices are ever going to go down. The rises may tail off for a while, but short of the City imploding I doubt we'll see any kind of serious, sustained correction. The ones who'll get burned are in outer London and the commuter belt. I have a few friends in places like Chelmsford and Basildon who got very badly hit in the early 90s.
http://blogs.telegraph.co.uk/news/timwigmore/100241964/when-britain-boomed-new-labour-let-people-get-poorer/
"From 2002 to 2008, Labour had seven years unencumbered by economic crisis or the compromises of Coalition. And life for the average worker actually got worse. "
Can't have hurt london property.
Define outer London - anywhere with a London postcode is safeish, I reckon. The places you cite are way outside the capital - they are not London.
Is the port non vintage ???!?!?!
Its a quite remarkably sudden flat lining of median wage that hit the UK in 2002. Shame there wasn't an average house price graph superimposed on top.
Yes, you're probably right - in North and West London; not so sure about the East and South, especially the South.
For me London starts at Borough market, goes north to Tottenham; east to Stoke Newington and west to the Natural History Museum. Nowhere else counts.
http://www.bbc.co.uk/news/business-24613550
http://mayfieldswiltonway.co.uk/about/
The 3 Fed-fuzz appear to have apologised for the wrong thing.... for talking to the press?????
http://www.bbc.co.uk/news/uk-politics-24615491
*Who the hell believes estate agents?
I would suggest there is limited correlation.
...Here is the statement from Inspector Ken MacKaill of West Mercia Police, Detective Sergeant Stuart Hinton of Warwickshire Police and Sergeant Chris Jones from West Midlands Police:
‘We are making this statement in response to public concern generated by the widely reported outcome of West Mercia’s investigation into matters arising from the meeting we had with Andrew Mitchell MP in his constituency on 12th October 2012.
‘The reputation of, and public confidence in, the police service is of immense concern to each of us.
‘We acknowledge the investigation’s criticism relating to our poor judgement in talking to the media following the meeting with Andrew Mitchell, for which we take this opportunity to apologise.
‘We would like to emphasise (as we did to the investigation) that in no way did any of us ever plan or intend to mislead anyone about what occurred during this meeting or otherwise.’
This is a funny apology indeed...The chief constables of West Mercia, Warwickshire and West Midlands Police are up before the Home Affairs Select Committee on Wednesday, where they will doubtless by asked by the MPs in the room why on earth their colleagues issued the sort of non-apology that you’d normally hear from a politician, not a policeman.
http://ericjoyce.co.uk/2013/10/labours-unwise-unquestioning-support-of-unite-grangemouth-strike/
The debate on the future of the BBC, opened by @AlunCairns is about to start. More info goo.gl/F15mVl
http://www.iam-magazine.com/blog/Detail.aspx?g=745c03d0-e1f3-45d6-bd62-df14617338b2
Interesting sales figures for Rolls Royces in France last year ?
The total ? ZERO.
"Professor Régniez believes this is very dangerous. “Sarkozy narrowly lost in 2012 for personal reasons – his style annoyed voters who could have agreed on his policies, but who wanted to punish him: 18 per cent of them voted for Marine Le Pen, against only 5 per cent for her father in 2007.
“This should be a warning to other countries, like Britain – it’s all very well punishing a conservative politician you’re dissatisfied with by voting for a maverick, Le Pen here, Farage there. But it gets the likes of Hollande elected. Think well: is ours the kind of future you want for your country?”"
A lot of these details haven't been settled yet, because the mechanism of a strike price/contract for difference is all part of the Energy Bill still making its way through Parliament. [NB - it seems that it is not a price floor as I said earlier, if the market price increases above the strike price then the excess will be refunded to customers]
Because they might take it down, and the amusement should be shared by all - when training exercises go wrong: pic.twitter.com/wMcPQYvK1Z
As I read this it appears HMG has leant a chunk of Royal Mail shares to A.N.other(s)... now this could be to help those selling short to settle their trades, often what stock lending is all about.
Now why would that be I wonder?
[caveat - I think I'm reading this right, tad rusty these days]
http://uk.advfn.com/news/UKREG/2013/article/59631500
.@WalesOnline publish a 'David Cameron resigns as Prime Minister' live-blog: http://www.walesonline.co.uk/news/wales-news/david-cameron-resigns-prime-minister-6218140 … pic.twitter.com/cvwZYDPXNB
As for house prices - I'd much rather my home was worth less and my children had a chance of buying somewhere to live in London if they want to, at least before I'm dead...... Houses are for living in - or they should be.
Dan Hodges@DPJHodges29m
If the officers in the Mitchell meeting didn't intend to mislead anyone why did they leave the meeting and lie to everyone?
Michael Crick tweets: Keith Vaz says he's summoning 3 Police Fed officers to Home Affairs Committee to provide "full explanation" + evidence helpful to committee
I googled - RR sold 3,575 cars in 2012 - not one went to France.
Astonishing.
"This is a funny apology indeed. It doesn’t say sorry for what the officers said – which was ‘he’s continuing to refuse to elaborate on what happened: I think his position is untenable’ – but apologises for talking to the media, and then says the officers never intended to ‘mislead anyone about what occurred during this meeting or otherwise’.
http://blogs.spectator.co.uk/coffeehouse/2013/10/andrew-mitchell-a-strange-apology/?utm_source=rss&utm_medium=rss&utm_campaign=andrew-mitchell-a-strange-apology
The three policemen have offered a pathetic 'apology', and they've offered it to the wrong people. None of the three deserve a place in law enforcement.
The liars need to sacked. You don't deserve to be in law enforcement or enjoying a cushy pension when you've abused your status and authority to stitch up an innocent man for political ends.
Can I apologise to Andrew Mitchell for having lunch today and meeting with a client. It was not my intention to do so when I got up this morning,
Can I also apologise to tim as I had totally expected today to be a tasteless one on here with repeated references to Osborne and various lewd suggestions but he has risen above my expectations, well I think he has, haven't the time to read everything!
I thank you.
I note that all media channels are awash with calls from their fellow officers for them to go. Or not.
That said, I'd love to be in the position of being annoyed at paying too much tax because I earn £100k plus...
*plays a violin*
Pension contribution via salary sacrifice = no brainer... £1 in your pension costing you just 38p.
unless got a monster mortgage to pay of course...
The Romans let barbarians into their armies, and soon it was the barbarians who had the whip hand. We have a police force that is heavily politicised and which appears to have stitched up an innocent man for their own ends. They must go.
Parliament is not held in high esteem, but it is the cockpit of democracy, and it is where the people send their representatives. We're not a police state, and the police must be answerable to the people, through their elected representatives.
Michael Crick@MichaelLCrick7m
David Davis on Pol Fed: "after bringing down a Cabinet minister, a half-apology won't do ...These people are guilty of a serious misconduct"
I had already come to terms with losing 40% of my bonus to income tax, but to lose more than half of it is difficult to take.
Lump sum repayment on mortgage = good, as return on your saved debt payments equivalent of amount paid off divided by 0.4 - 3% mortgage rate saving = gross equivalent return of 7.5%.
but then again £10k in pension costing you £4k (if only by AVCs) = good too...
Reactions like Carlotta's are a bit like the "the rich should pay more" attitude of those who define the "rich" as "anyone who earns more than I do".
Whether it affects you or not, the theory is broken and the principle is wrong.
In both policy terms and political terms, this is a great tax grab. There's a lot to be said for sprinkling such tax grabs in narrow bands at various income points.
It's like a chat in the bar at a golf club now isn'it it!!
Follow Bbcs James Cook for updates.
There is an offer from the employer on the table until tonight.