Poor little me…

I know that in the light of what is happening this is going to sound very selfish, but it’s affecting my mindset so i’m going to say it anyway.

We’ve got quite a reasonable amount of equity on our old home in the UK. now we can’t sell it because the sales market is flat, so to offset the costs of our place in Sydney I want to dip into our equity (not by much only about 15%) So I phoned out mortgage holders (the largest and most profitable in the UK) and was told that they will do no new business with off-shore investors or expats (like me). Quite happy to take my money but not take any further risk.

Well thanks very much. This will mean some real economies coming into force over the next few months. There is always a danger in buying investment properties and I know I should have insisted that we sold the place in the UK  as soon as we bought our place here in Perth. But there you go.

The place in Sydney was to make our lives a bit easier, looks like in the short term that’s just not going to happen. My thanks to Bill Clinton, The Shrub and all those greedy bastards in the City and Wall Street i hope your lives all turn to shite for a long time.

Again my apologies for this self centered rant.

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13 Responses to “Poor little me…”

  1. Nautilus Says:

    Just because you have 3 houses when most of us are struggling to keep one doesn’t make you self centered;-)

    Can’t you refinance the UK with a different lender? If you have a reasonable amount of equity in it, then you would be an attractive, low risk option.

  2. LERMONTOV Says:

    Or start selling crack? A man has got to live. And, I love self-centred rants – it makes me feel like we’ve got something in common!

  3. Therbs Says:

    Self-centred? Mate, if that’s what you reckon that’s fine but just think for a second about those greedy fucks who got the world into this shitty mess in the first place. I think you’ll find you’ve nothing on those pricks.
    Wait for a short while to see if the Aussie banks react to KRudd’s next go on the defribulator. Maybe one of them will be willing to invest.

  4. chazfh Says:

    Naut, err actually its’ 4.5! 1.5 apartments in Buenos Aires, the small house in London, our apartment here in Perth and the currently being built apartment in Sydney. Marcela’s mother live in the whole apartment in BA and the rent from the other one goes to suplement her pension. Refinancing with another lender in the UK is going to be very difficult and I’m not sure If we won’t get the same response

    Lerm, I’m already in real estate I can’t go any lower..except maybe into politics.

    Therbs thanks mate, I’m just hoping that we’ll see a rise in inner city Sydney prices before winter sets in.

  5. maggsworld Says:

    I have never known Sydney prices to dip/fall. They might hold their own and wait for a while but I heartily doubt they will go down. My son in law is having issues selling in the UK right now ( he owns a place there)and can’t get his equity to buy here as his little family is growing. Timing. All about timing. Please stay out of politics or I may have to bar you!!

  6. yankeedog Says:

    Oh, the ones that got us into this mess will be just fine, thanks. There won’t be any punishment for them. The rest of us will suffer for those particular sins.

    Do you need a house in the States? I see you have no properties in North America, and you could pick up a place for next to nothing.

  7. HAVOCK21 Says:

    Keep’em, we may need safe houses affter we CAP a few FUCKERS who got us in this mes. Send me the addresses

  8. Flinthart Says:

    Buenos Aires? Nifty. Always wanted to go there…

  9. chazfh Says:

    Maggs, prices on the northshore have dropped about 30% in the last 5 years. There was a great place in milsons point that i’d have loved to get with great views etc etc it went on the market at just over 3 mill. it sold about 6 months later for 2.4 mill. As for you having a son-in-law you don’t look old enough for one, what is he 16?!! yep the UK market is shite, thanks to the current Gov nothing too good is going to happen in the nexct couple of years over there. Don’t worry about me moving into Politics at the moment though..Thought i’d let Lerm trail blaize for me there.

    YD, yep you’re right little chance of the guilty being punished. As for a place in the US. i’m sure if I had some cash i could get a real bargain. A mate of mine who lives deep in NY state bought an amazing 5 bed place for what my 2 bed ‘end of terrace’ in London is worth! But thats the problem at the moment minimal cash.

    Harry, you may be right!! We’ll talk next week!

  10. Maggs Says:

    Chaz, just how old do you think I am?? I have 7 kids ( my eledest is 30!!!) and 4 (almost) grandbabies as well. My son in law is 38!!! He married the 27 year old. I will be honest, I have not been monitoring prices as we are well settled ( at Killara). I CAN imagine question time with Lermie involved… that is a thought to take me through the rest of a boring Thursday.

  11. chazfh Says:

    Dirk, you should do, it’s an experience in itself, plus lots of good restaurants.

    Maggs, thought you were another mid forties reprobate like alot of us! mate of mine bought in East Killara, worst house on a nice street facing into the creek thingy. Were you badly effected by the recent fires?

  12. Bangar Says:

    Well mate I wanted to keep the home loan open (paid down of course), the bank was talking $500 for the transfer and $300 a month for loan fees. I’m not keeping it. So they don’t want me either.

  13. chazfh Says:

    Bangar yes thats way too much but another sign of why OUR banks have been hit less than offshore ones!

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