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The boom continues unabated

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    #1

    The boom continues unabated

    http://news.bbc.co.uk/1/hi/business/6252688.stm

    In total, May saw 114,000 mortgage approvals, up from 109,000 in April.

    The BoE said that consumer credit, including credit cards and personal loans, rose by £842m in May, compared to an increase of £500m in April.


    When it does go pop it will be more of a big bang.
    Tags: None
    #2
    The key word here is 'May' i.e. when good fixed deals were still on the market.
    The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

    But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

    Comment

      #3
      No, no, no - it's all different this time. House prices will keep going up forever so buy today or you won't be able to afford it tomorrow. And don't worry about credit cards - you'll find another cheap deal to move it to, so spend, spend, spend.

      Comment

        #4
        IF HMRC change the rules on mortgage interest being tax-deductable for BTL, THEN we will see a crash.

        Otherwise, I'm hoping for a "correction".
        ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

        Comment

          #5
          Originally posted by Moscow Mule
          IF HMRC change the rules on mortgage interest being tax-deductable for BTL, THEN we will see a crash.

          Otherwise, I'm hoping for a "correction".
          That would open up a whole can of worms, suddenly a series of legitimate business expenses would not be claimable and the IR would have a field day trying to collect extra tax from small and large business....

          Please don't mention such things, it may give somebody ideas...

          Comment

            #6
            Originally posted by Ardesco
            That would open up a whole can of worms, suddenly a series of legitimate business expenses would not be claimable and the IR would have a field day trying to collect extra tax from small and large business....

            Please don't mention such things, it may give somebody ideas...
            It's already being mentioned in the press,

            http://news.bbc.co.uk/1/hi/programme...ox/6233266.stm
            Last edited by Moscow Mule; 29 June 2007, 09:56.
            ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

            Comment

              #7
              What a crap story.


              They say that landlords pay the interest when house is empty, but as soon as it is rented out they don't pay any tax and that costs £2billion a year in taxes.

              What they have forgotten to mention is that the income from the rent is taxed so the BTL landlords are paying tax anyway, if the rent doesn't cover the mortgage then nobody is loosing out on tax, the person renting is just getting into more and more debt.

              Unfair advantage my arse.

              Comment

                #8
                Originally posted by Ardesco

                Unfair advantage my arse.
                But it does have populist appeal - so it will probably come to pass under GB.
                ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

                Comment

                  #9
                  BTL landlords should be taxed till they squeak

                  Comment

                    #10
                    Originally posted by andy
                    BTL landlords should be taxed till they squeak
                    And then taxed some more until they stop squeaking.

                    Comment

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