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>> No. 7610 Anonymous
10th July 2019
Wednesday 11:29 am
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My last paternal grandparent died relatively recently. My parents have been advised to set up a Deed of Variation, which is apparently re-writing my grandmother's Will so that their share of the inheritance doesn't go directly to them. The plan is for the funds to go into a trust and they will loan the money from the trust via a Promissory Note, with this liability repaid to the trust when they both die.

At least this is how I understand it. This is meant to allow them to have their cake and eat it; they get their hands on the inheritance but the debt to the trust will in turn reduce the value of their own estate when inheritance tax is calculated. They're well within the inheritance tax thresholds so it's not going to make any real difference unless the legislation is changed considerably, but it was also pitched to them that if an inheritance is placed in trust rather than eventually passed directly to me that it would be shielded if I ever ended up bankrupt or divorced.

This is one of those things that sounds too good to be true. If it isn't then why doesn't everyone do this?
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>> No. 7637 Anonymous
11th July 2019
Thursday 10:49 am
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>>7636
You haven't read the case, have you?
>> No. 7638 Anonymous
11th July 2019
Thursday 11:34 am
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>>7637
Yes. Rangers employees had their remuneration paid into a trust, which they'd loan back to themselves in the place of income subject to PAYE. The judgement is of the view that the loan payments were really emoluments; although inheritance tax was mentioned I do not see a specific judgement in relation to this.

Furthermore, as pointed out several times, paying money yourself (or having your earnings diverted) into a trust and borrowing that money back to get around income tax is not the same as borrowing money from a trust that you are not the settlor of. Borrowing your own money back and borrowing money that came from someone else are two very different things.
>> No. 7639 Anonymous
11th July 2019
Thursday 4:50 pm
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>>7638
>Borrowing your own money back and borrowing money that came from someone else are two very different things.
In theory perhaps. Not so much in practice, which is what the judgment is getting at. The paper structure goes out the window, and what matters is the net effect in the real world. In one case, someone has money they were intended to receive put in a trust and "borrows" it with no expectation of paying it back, and in the other, someone has money they were intended to receive put in a trust and "borrows" it with no expectation of paying it back.
>> No. 7640 Anonymous
11th July 2019
Thursday 5:08 pm
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>>7639
>someone has money they were intended to receive put in a trust and "borrows" it with no expectation of paying it back.

Except for the will saying that the money was to be put into trust rather than going directly to them, that is.
>> No. 7641 Anonymous
11th July 2019
Thursday 5:16 pm
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>>7640
Ah, yes, the will, which was changed after their death by the beneficiary in order to say the money was to be put into a trust. This is functionally no different from the creation of the EBT. It's just a subtly different set of legal fictions to cover up the same reality.

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>> No. 3840 Anonymous
19th September 2013
Thursday 10:03 pm
3840 Pensions
The OFT have come out and said that many old (i.e. set up before 2001) pension schemes have high charges and offer savers poor value for money. They've also suggested a cap for auto-enrolment schemes, but it's going to be an almost meaningless gesture as you'd be very hard pressed to find a provider offering auto-enrolment terms with annual management charges greater than 1% anyway.

http://www.bbc.co.uk/news/business-24153012

The pension scheme I'm in at work (contribution: 5% employer, 5% employee gross) has management charges of 0.6%, which I'm alright with as it's less than I'd get if I was investing in collectives through an ISA.

However, I've put the charges and contribution details into Invidion's pension calculator for an idea of what I'd get when I'm 65, 40 years from now, and if my salary increases in line with National Average Earnings and I took the 25% tax-free lump sum I'd be looking at a pension in today's terms of 27.5% of my current salary. If I wanted a pension that would be about two-thirds of what I'm earning now then I'll need to contribute, assuming the employer contribution stays at 5%, 15% gross (12% net) of my salary every year for the next four decades. This does depend on what annuity rates will be like then and I'd also be getting the State Pension, as long as they haven't upped the age you receive it to 80 by then.

If it wasn't for the tax relief and my employer matching my contributions then I doubt I'd bother and I'd look into other ways to support myself while I'm in retirement. What about you lads? What are your thoughts on pensions? In my opinion to have any form of decent retirement income you're at the mercy of your employer offering a good pension scheme.
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>> No. 7501 Anonymous
9th April 2019
Tuesday 5:44 pm
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A&Es could close or be forced to operate without enough staff because of pension rules, doctors have warned.

Experienced consultants are cutting their hours or refusing extra shifts to avoid an effective 100 per cent tax rate brought in by complex changes to pension taxation. The issue is exacerbating workforce problems in the NHS and is likely to hit patient care, experts have warned.

Under rules introduced in 2015, anyone earning more than £150,000 begins to see a reduction in the £40,000 that can go into a pension tax free each year. It tapers down to £10,000 for those earning £210,000 or more.

Breaking the limit triggers a penalty tax rate. However, while high earners in the private sector are able to adjust their pension contributions, the way NHS pensions are structured means health service staff cannot. Their tax bills are based on factors including the calculated increase in pension pot value, rather than simply earnings, meaning that all NHS staff earning over £110,000 — a third of consultants — are potentially affected. Doctors report receiving huge unexpected tax bills after they have worked extra shifts or received a small salary increase, often based on good performance, which effectively means they have worked for nothing or even paid to work.


https://www.thetimes.co.uk/article/doctors-pay-to-work-after-change-in-pension-tax-rule-pjk76kbsk

It's almost as if the government should stop tinkering with pensions and leave them alone.
>> No. 7609 Anonymous
8th July 2019
Monday 9:28 am
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>>7501
>Waiting lists for routine surgery have risen by up to 50% in England because senior doctors say they cannot afford to work extra shifts.

>Consultants have begun refusing to work beyond their planned hours after receiving unexpected tax bills, following new pension rules in 2016.

>NHS hospitals said delays are becoming increasingly routine as a result. The Department of Health said it aimed to solve the problem with more flexible pensions.

>Consultants who earn more than £110,000 a year faced new limits on how much they could contribute to their pension from 2016. Complex rules mean the charges can be unpredictable if they go over the allowance. But those near the threshold have have few options to avoid the impact, other than reducing their hours, quitting the NHS pension scheme or taking early retirement.

https://www.bbc.co.uk/news/health-48903913
>> No. 7616 Anonymous
10th July 2019
Wednesday 4:04 pm
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>>7609
>>7501

I don't know why they are focussing the coverage of this on consultants. It's much harder to sympathise with people who earn so much.

It's affecting bread and butter doctors and nurses much more considerably, because they don't earn so much in the first place.

I park in the "reserved for on call consultant" space at the hospital I work at, because fuck the consultant, he earns enough he can pay for a bloody parking ticket.
>> No. 7617 Anonymous
10th July 2019
Wednesday 4:19 pm
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>>7616
If he's on call doesn't that mean he'll only be there in case of emergencies?
>> No. 7618 Anonymous
10th July 2019
Wednesday 4:37 pm
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>>7616
>It's affecting bread and butter doctors and nurses much more considerably

As above:

Under rules introduced in 2015, anyone earning more than £150,000 begins to see a reduction in the £40,000 that can go into a pension tax free each year. It tapers down to £10,000 for those earning £210,000 or more.

The way scheme like the NHS one operates means you won't know if you've breached the annual allowance until well after the tax year has ended, at which point you can either pay the tax bill out of your own pocket or have it knocked off your pension at very punitive rates; a consultant working 24 hours per week would end up retiring on a higher pension than a consultant working 48 hours per week.

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>> No. 7541 Anonymous
4th June 2019
Tuesday 7:03 am
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One of the UK's most high profile stock-pickers has suspended trading in his largest fund as rising numbers of investors ask for their money back. Neil Woodford said after "an increased level of redemptions", investors would not be allowed to "redeem, purchase or transfer shares" in the fund.

Investors have withdrawn about £560m from the fund over the past four weeks. However, it was a request from Kent County Council to withdraw £250m that led to the suspension.

At its peak, the Woodford Equity Income fund managed £10.2bn worth of assets, such as local authority pension funds. However, it now manages £3.7bn, according to the financial services and research firm Morningstar. Mr Woodford's firm, Woodford Investment Management, is also the biggest investor in Kier Group, the construction and services group which on Monday warned on profits, sending its shares crashing 41%.


https://www.bbc.co.uk/news/business-48506032

"But he hasn't got anything on!" the whole town cried out at last. The Emperor shivered, for he suspected they were right. But he thought, "This procession has got to go on." So he walked more proudly than ever, as his noblemen held high the train that wasn't there at all.
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>> No. 7601 Anonymous
10th June 2019
Monday 8:03 am
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I've been in on a meeting with members of Woodford's team. They've confirmed that:-

• The fund is unlikely to open for two to three months at least. It'll take that long to raise the amount required fairly and when they do re-open chances are there will be a dilution levy, i.e. an exit charge for people taking their money out.

• The stocks they've sold so far have been at a profit to the price they bought it for. They're very hopeful that one of the unquoted stocks now held in Patient Capital Trust is going to earn them a handsome profit in the near future.

• They are not going to waive their management fees. They're going to have further internal meetings on this but it's highly unlikely as they don't generate enough income from elsewhere (Patient Capital Trust charges a performance fee rather than a management fee so they've been running it at a loss for a while due to underperformance) and they're already in the middle of cost cutting measures. If they cut off their primary source of revenue for c. three months they'd probably go under.

• When the fund re-opens they're going to hold more FTSE 100 stocks. They doubled down that their view is right to focus on undervalued stocks such as domestic facing housebuilders rather than global facing stocks such as Unilever with ridiculous price-earnings ratios. They're contrarian investors so periods of underperformance should be expected.

• They believe they're the victims of an orchestrated negative media campaign, with negative coverage of them for well over a year. They repeatedly mentioned this largely being the fault of the media - overblowing the issue so that investors would panic and applying pressure so that backers like St James's Place would drop them. They even went a bit tinfoil and said there seems to be a coincidental number of occurrences between negative coverage of Woodford and the stocks they've picked being shorted. They seemed more convinced that Woodford have ran a poor PR campaign rather than running the fund poorly.
>> No. 7602 Anonymous
10th June 2019
Monday 12:20 pm
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>>7601
Cracking work!
>> No. 7604 Anonymous
10th June 2019
Monday 9:11 pm
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Financial Conduct Authority boss Andrew Bailey said fund rules may need amending in the wake of the Woodford fund suspension. In a letter penned for the Financial Times, Bailey said the suspension of the £3.7 billion fund last Monday had raised important questions about the UK’s regulatory approach towards investment in illiquid assets.

Bailey stressed financial markets should support investment in firms that contribute to economic growth and create jobs, which in turn foster innovation. However, he noted that these businesses can often be illiquid and not all will succeed.

‘We need appropriate rules around investments in illiquid securities to protect investors,’ Bailey wrote. ‘I believe there should be limits on the share of illiquid investments held in collective investment schemes whose shares are typically bought and sold freely and frequently.’


https://citywire.co.uk/new-model-adviser/news/fca-indicates-woodford-could-trigger-overhaul-of-fund-rules/a1237891

There already are limits on the number of illiquid assets collective investments can hold. It's reassuring to see the FCA are on the ball, as usual.
>> No. 7606 Anonymous
14th June 2019
Friday 11:47 am
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>>7602
He's said this week:-

• The fund is highly unlikely to re-open before the October Brexit deadline. This is a) in case everything goes to shit with Brexit and b) he's still convinced his stocks will come good and he sees a Brexit resolution as the inflection point, so he doesn't want to sell stocks right before they shoot up.

• When it re-opens he will never handle institutional money again after being burned by the likes of Kent County Council. His main ire was directed at St James's Place, as they released a research paper saying his hit rate is actually better than ever before phoning him a few days later to say they were dropping him due to negative media coverage.

He also had a little cry and said this is the toughest time of his life.
>> No. 7608 Anonymous
1st July 2019
Monday 10:41 pm
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As expected...

Neil Woodford's flagship equity income fund to stay locked

https://www.bbc.co.uk/news/business-48790585

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>> No. 7496 Anonymous
26th March 2019
Tuesday 11:07 am
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Is there a way to sell on eBay without using PayPal? And I'm not talking about cash on collection.

Also if I want to sell on other sites and post things out to people but don't want to use PayPal, what methods can I use not to get scammed?
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>> No. 7499 Anonymous
26th March 2019
Tuesday 5:02 pm
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>>7498

>I just hate PayPal as a company

If you hate them that much I would suggest you also shouldn't be using the platform of the company that has owned and operated them for the last 16 years.
>> No. 7535 Anonymous
19th May 2019
Sunday 5:50 pm
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>>7499
No they haven't? Might wanna read some tech news from the last five years. Next year Paypal won't even be their payment processor.
>> No. 7538 Anonymous
21st May 2019
Tuesday 10:07 am
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>>7535
Who is replacing it?
>> No. 7539 Anonymous
21st May 2019
Tuesday 6:11 pm
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>>7538
Adyen.
>> No. 7540 Anonymous
27th May 2019
Monday 5:16 pm
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>>7535

good

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>> No. 7510 Anonymous
28th April 2019
Sunday 6:17 pm
7510 Anti money laundering
I do not endorse money laundering etc etc,
Brexit will perhaps mean regulators and crime fighters have to strain their resources, and tere is a belief that money laundering will increase.
So for my academic research what
Transactions are by most companies trackable through some form of Footpath.
The techniques are ever decreasing and is becoming a thing of the past.
Can i get help with these two assumptions abd insight on anti money laundering,
Please do not endorse or encourage this naughty behac.

(A good day to you Sir!)
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>> No. 7528 Anonymous
29th April 2019
Monday 8:08 am
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>>7524
The value might get wiped out in a bart, the exchange you buy from is probably shady as shit if they're not doing KYC checks and are liable to just run off with the cash and your crypto before you can shift them, and the exchange you cash out from might suddenly develop "technical difficulties". Then there's the minor point that the blockchain being entirely open means that even if you do manage to cash out your explanation won't hold water.
>> No. 7529 Anonymous
29th April 2019
Monday 9:16 am
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>>7528

I think you grossly over estimate the risks and the traceability. It is like you don't even know what cryptocurrency is mostly used for.
>> No. 7532 Anonymous
29th April 2019
Monday 9:23 am
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>>7529
AIUI, it's mainly used for taking money from suckers these days, hence its uselessness for anything else.
>> No. 7533 Anonymous
29th April 2019
Monday 9:43 am
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>>7532

Bitcoin maybe, but something like Monero is still very useful for buying drugs on the internet.
>> No. 7534 Anonymous
29th April 2019
Monday 12:27 pm
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>>7533
>Monero
Then you're back to just getting any money out the other end at all.

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>> No. 7519 Anonymous
28th April 2019
Sunday 11:14 pm
7519 Monte carlo simulation
Ive been learning about regression analysis and monte carlo simulation.
Ive really enjoyed learning this but the @risk extension for my excel files is a bit expensive.

Ive read a an array of sources about monte carlo sim. but i was hoping someone on here might be able to help.
Can you create your own alternative to @risk and build your own monte carloe simulation on excel?

i hope this question makes sense as you can see im still a novice.

PS #7510. anti money laundering is a huge subject and perhaps reading academic journals and books would be more insightful than asking questions to strangers.

(A good day to you Sir!)
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>> No. 7526 Anonymous
29th April 2019
Monday 12:40 am
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Well, I'm not going to tell you how to commit crime. But if you really do want to build and run mathematical simulations then VBA is certainly not the way to go. It's clumsy, and you'll be stuck doing anything beyond the rudimentary.

C++ is the go-to language for this sort of thing (in my experience, though I expect to start an argument) but as a novice you'd be better off studying Python. It has a more intuitive syntax for developing your own algorithms. Get to grips with the basics of the ubiquitous NumPy package. And try following guides like this hastily-googled one:

https://towardsdatascience.com/monte-carlo-simulations-with-python-part-1-f5627b7d60b0
>> No. 7527 Anonymous
29th April 2019
Monday 6:31 am
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I've just read up about the algorithm here
https://www.investopedia.com/terms/m/montecarlosimulation.asp

And honestly it seems quite simple. Much simpler than formula I've built in the past.
It isn't a crystal ball for predicting the future and I'm not sold on its value as an investment tool. It clearly has real world applications but I think you would be better looking at events rather than presuming because a snapshot of the sales of pumpkins shows a significant increase of sales in October they will continue to rise in November.

>>7526
>C++ is the go-to language for this sort of thing (in my experience, though I expect to start an argument)

In my experience regardless of how obnoxious and clunky it maybe, people want these things modled in excel (not even VBA) on the vague presumption they can follow your working out. They don't trust the magic black box of 'programming'.

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>> No. 7502 Anonymous
15th April 2019
Monday 9:51 pm
7502 Online Trading
Any of you lads have any advice in regards to trading online? I'm a complete novice but I'm interested in it as a bit of a hobby and a way to earn a little bit of extra income. I know there are things like Trading 212 and Plus500 out there, but I'm not sure if they're worthwhile or a bit of a scam.

Any info on what to do and what not to do?
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>> No. 7505 Anonymous
15th April 2019
Monday 11:36 pm
7505 spacer
You're pretty much guaranteed to lose money.

If you want to make a few quid in your spare time, I'd suggest matched betting. By taking advantage of free bets offers from online bookmakers, you can reliably make a few grand. It's pretty tedious and you need to be careful to avoid expensive mistakes, but it is a genuinely profitable opportunity.

https://www.savethestudent.org/make-money/what-is-matched-betting.html
>> No. 7506 Anonymous
15th April 2019
Monday 11:51 pm
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>>7505
This. Also, be aware that gambling is, in general, rigged. The bookies can and will take you for a ride, but if you start winning too much they'll stop taking your money.
>> No. 7507 Anonymous
16th April 2019
Tuesday 1:05 am
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>>7502
>I'm a complete novice but I'm interested in it as a bit of a hobby and a way to earn a little bit of extra income.

Oh man, don't even start. If you really want to, do about 2 years of reading first. And only use money you can afford to lose. But my professional advice is don't even start.
>> No. 7508 Anonymous
16th April 2019
Tuesday 7:05 am
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>>7502

If you don't have any investments already, I'd recommend setting up a Vanguard S&S ISA and putting a bit of money in there. Their funds are a diverse mixture, so you don't need to do as much thinking. There's a UK personal finance subreddit which is much better at this than me.

I mean, that's if you want to save for a long time. Shove in a bit of money each month, assuming that it'll grow around 5%. For a novice, it does help you feel out your risk level (In 7 months, I've seen my money down 8% and up 14%).

Once you're a bit better read and you're more accustomed to the nature of investing, then you can jump into trading single shares, if you really must.
>> No. 7509 Anonymous
16th April 2019
Tuesday 7:18 am
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Try this, it is safer:

https://www.mintos.com/en/

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>> No. 7489 Anonymous
18th March 2019
Monday 12:13 pm
7489 Joining a lease
Afternoon gents,

I viewed a room last week in a 2 bedroom flat. It was nice, and I agreed to take it. The lease signatories are a young couple; they took the place recently, planning to get another tenant in as soon as possible.

Ordinarily this wouldn't be a problem, but googling the letting agency shows a chequered past; XYZ Properties launched, dissolved, then XYZ Lettings was born, then dissolved. In it's latest form it isn't listed -- their website doesn't work, their landline gives a busy tone. That said, I've read the reviews, and the agency is genuine, just shit, and run by a guy on the make.

Preamble over, is it reasonable to suggest to the couple that I pay them directly? They would sublet the room to me, if that's not prohibited, and my name stays off the lease agreement.
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>> No. 7492 Anonymous
18th March 2019
Monday 12:49 pm
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>>7489
I'd say those are too many red flags for me and give the place a miss.
>> No. 7493 Anonymous
18th March 2019
Monday 8:21 pm
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>>7489
Sounds bad.
>> No. 7494 Anonymous
18th March 2019
Monday 10:09 pm
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Sounds like a dodgy company, and you have to be pretty fucking dodgy to stand out as such among letting agencies.

Doing it off the books if not a great idea either, unless you have a contingency plan. You won't be protected much, if at all, in that arrangement.
>> No. 7495 Anonymous
18th March 2019
Monday 10:59 pm
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>>7489
You have no protectiom that way, but it doesn't sound like you'd have any regardless. You may very well find yourself homeless very quickly and overnight.

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>> No. 7469 Anonymous
26th February 2019
Tuesday 5:11 pm
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Friend's bag was stolen from my car, and a card from their wallet was used to make 4 contactless payments (3 pictured). I asked my friend to ask the bank to send a more detailed breakdown of transactions (times and locations), and she was told by the bank's fraud team that they don't have location information available to them -- just what you can see. Is this really true, or has there been a miscommunication somewhere? My supposition was that there's something like a location ID for each transaction, that could be used to determine in which of the 3 within-walking-distance Sainsburys' the card was used.
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>> No. 7470 Anonymous
26th February 2019
Tuesday 5:13 pm
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my mistake -- only 2 of the 3 payments pictured.
>> No. 7471 Anonymous
26th February 2019
Tuesday 5:18 pm
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>>7469
What use do you hope to gain from that information? Just report the thing stolen and dispute the charges.
>> No. 7472 Anonymous
26th February 2019
Tuesday 5:33 pm
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>>7471
What's the point of all this modern tracking information if we can't use it to go all Liam Neeson in Taken on petty thieves? Or real life Liam Neeson if they happen to be black?
>> No. 7473 Anonymous
26th February 2019
Tuesday 5:47 pm
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>>7472

Even if the banks have this information (which I really don't know if they do, but you'd assume so) this is exactly the reason why they don't give it out to the public, particularly the angry public wot just got his wallet nicked.
>> No. 7474 Anonymous
26th February 2019
Tuesday 5:48 pm
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>>7473
The bank won't have that information, but Sainsburys would. They aren't going to give it out unless the police come knocking.

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>> No. 7464 Anonymous
24th February 2019
Sunday 3:15 am
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I've come to seek some very serious financial advice. I'm in my mid thirties but I've never borrowed a penny from an official institution. I'm not quite a pikey but I'm not that far removed if I'm being honest. I've grown up in a culture of working for cash and buying things for cash. Debt is a dirty word in my family and I've always lived within my means.

I've been quite frugal over the years and have managed to put together about 90k in savings. My employment history is sketchy at best and although I've been working since I left school, there are some serious gaps in the official records when it comes to my income.

For the past six months I've been self employed with about 80k a year coming in. All declared and above board.

I've always assumed that I couldn't get a mortgage and I'm still doubtful but I thought it might be worth asking some strangers whether I'm right.

My current overheads are pretty low and at a push I can save a good few grand a month after tax and rent etc. That means I could potentially have a lot more in the bank in the near future.

I desperately want to own a house and I know I could buy something tiny in a shit place with the money I have but I've recently been wondering what I could get if a bank would lend me a big chunk. I don't want anything fancy but it would be nice to have some space in a nice area.

As I said I know nothing about debt so my main questions are do I have any chance of getting a mortgage with only 6 months of official financial stability (and no credit history), and if so, how much would they lend me with 90ish as a deposit?


Message too long. Click here to view the full text.
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>> No. 7465 Anonymous
24th February 2019
Sunday 3:18 am
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Go and see a mortgage broker.
>> No. 7466 Anonymous
24th February 2019
Sunday 8:41 am
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You can normally borrow about 4.5x of your salary on top of your deposit. You'll probably need a longer history of income, especially if self-employed. That could take a year or two.

It might be worth getting a credit card and spending a bit each month, making sure it's paid off in full to avoid interest. It's an easy way to demonstrate that you manage money well. Having no evidence of debt management can be a negative thing, I suppose the logic is 'if we can't see you managing small debts, we're unsure about your personality with larger debts'.

I often check both moneysavingexpert and r/ukpersonalfinance because they'll have a lot of info on this sort of thing.
>> No. 7467 Anonymous
24th February 2019
Sunday 9:45 am
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>>7466
Seconded for r/ukpersonalfinance , there's some absolutely stellar advice given there on this sort of thing.
>> No. 7468 Anonymous
24th February 2019
Sunday 10:32 am
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>>7464
Okay - a mortgage broker will definitely help as they will have actual offers from lenders. I can recommend Charles Cameron.

There are three variables to a mortgage - how much you earn (£80k), how much deposit you have (£90k) and how affordable your monthly payments are going to be. On the downside, you're self-employed, which means you have to do a little bit more proving you can still earn that much in the future. Your £90k deposit is a very good upside though. You can generally borrow between 3x and 5x your earnings depending on how dependable they are and the lender/offer.

On the affordability side, the general rule of thumb is you should be spending no more than 28% of your monthly income after tax is paid, which for you is about 1200 quid per month. The last variable is how many years you are taking the mortgage for, this varies between 10 and 30 years. Based on all that I would think you could be getting a mortgage of about £250k which added to your deposit means you can buy a property of £300k-ish.

You should get a mortgage that allows you to overpay - if you're as good a saver as you say, this means that you can overpay it every month, which dramatically shortens the term. There are mortgages (offset mortgages) that also allow you to keep your savings and balance the mortgage against it - again, a broker will help here as they can get actual offers to talk about.

When you speak to a broker, and they talk to lenders, you'll have to do some extra work because of being self-employed and the fact that rules have tightened up around affordability recently, but you have a good deposit and that really helps.

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>> No. 7445 Anonymous
23rd December 2018
Sunday 6:36 pm
7445 Stock Market, This Is Fine Edition
Are any of you lads caught up in the stock market jitters of the past few weeks?

I am still long on a few S&P500 sector leaders, and naturally I'm not comfortable with the way they have tanked. Got out of all my FTSE100 stocks at the beginning of this summer, and not to my disadvantage, it seems.

So what to do now? Get out of my remaining stocks and cut my losses? Wait for a rebound and then sell the hopefully ensuing bear market rally? Or just hold until this all blows over?
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>> No. 7448 Anonymous
23rd December 2018
Sunday 7:18 pm
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I bought my S&P stocks in May this year when the index started showing signs of recovering from its slump a few weeks earlier. I was right to do so, as it turned out, hoping that strong corporate gains from Trump's tax cuts would offset QE tightening. but I then kind of missed the boat because obviously the S&P has plummeted since the ATH in early October.

Really didn't think we would go from ATH to bear market in just ten weeks.

Glad I made the right call on the FTSE though. My pertaining portfolio would be worth nearly 15 percent less now, i.e. worse than the index's performance. Sold it all near the market high. With Brexit, it's not where you want your money in the foreseeable future.
>> No. 7449 Anonymous
23rd December 2018
Sunday 8:10 pm
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>>7447

>chasing / waiting out losses to rebound never, ever works

It depends. In a strong uptrend with the stock of a fundamentally healthy company, against the backdrop of a strong economy and other positive market determinants, an intermittent dip can be waited out. On the other hand, nobody tells you when that strong uptrend will fizzle out and a stock is going significantly lower with no hope of bouncing back to your break even point.
>> No. 7450 Anonymous
23rd December 2018
Sunday 8:31 pm
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>>7448
>With Brexit, it's not where you want your money in the foreseeable future.

Value stocks are exceedingly cheap, relative to their fundamentals. I'd expect there to be a cyclical change in 2019 from growth stocks, particularly tech ones, to value stocks performing strongly. If you're prepared to hold then there's bargains to be had.
>> No. 7452 Anonymous
23rd December 2018
Sunday 10:15 pm
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>>7450

>Value stocks are exceedingly cheap, relative to their fundamentals

That's a double edged sword though. There are two reasons why stocks can be cheap relative to fundamentals, for example if you take earnings multiples. One is that the market is genuinely oversold due to a sudden panic that just dragged profitable companies down with all the rest of the stocks. That indeed presents a buying opportunity. We had that in many (European) indexes right after the Brexit vote, where the overall picture for the coming months or year was nowhere near as grim as it seemed on the day of the Brexit sell off.

The other possibility, however, is that stocks are cheap relative to current earnings because they are expensive relative to future earnings. That's a huge pitfall right there. A stock may trade at 12 times 2018 earnings at the moment, and that's a decent price earnings ratio, but if your earnings are feared to go down 40 percent in 2019, as they very well might with some stocks if the economic outlook worsens, then suddenly you have a PER for 2019 (at the current stock price) of exactly 20. And as a value investor, that's no sweet spot to get in on. It's very likely that your stock will not have seen its bottom despite a recent slump. Your stock would have to go down another 40 percent to get you the same kind of PER of 12 for 2019 as it does now for 2018.

Having said that, I think markets are at the moment pricing in that there could be a recession. But as markets often do, they tend to exaggerate the actual big picture. At the point where we are at right now, after almost an entire month of ceaseless panic selling and a whole 4th quarter of sizeable overall down movement, there is a good chance we've undershot even the grimmest worst case scenarios for 2019 and beyond. Stocks are really remarkably oversold right now, going by various technical indicators. There is at least some room for short-term speculation to the upside again.
>> No. 7454 Anonymous
17th February 2019
Sunday 8:13 am
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Did you sell out at the absolute arse end of the market fall and miss out on the subsequent rally, OP?

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>> No. 7430 Anonymous
5th December 2018
Wednesday 6:04 pm
7430 The Utility of second hand shops
I went into CEX today. I am fascinated how the pricing works in these shops and what it says about society. Anything newish will be priced at close to new but historical items but when you think about it it doesn't make sense that deadpool 2 is somehow ten times more valuable then the complete Lord of the rings trilogy. Assassin's Creed 1 and 2, Cod:mw2 for the PS 3 are all priced at 75p these were triple A games, best sellers and therefore should be considered classics. Yet 'hamsterz' for the DS is priced at £4. It seems strange that the market would consider that game 5 times more valuable.

I don't doubt the sanity of the pricing of the seller but it seems odd that is what these things are worth.
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>> No. 7440 Anonymous
5th December 2018
Wednesday 11:45 pm
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It's been some many years since I played computer games and visited a CEX store but I was always blown away by their ability to absolutely stink.
>> No. 7441 Anonymous
6th December 2018
Thursday 1:26 am
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>>7440
I seen an alleged employ try and claim, on 4chan, this was because "It's a company for greasy moshers, ran by greasy moshers." I replied implying he was the lad who got arrested for raping a lass at the annual festival they do for staff every year and he said she was a liar. I don't know if I accidentially shitposted myself into outing a rapist, but I digress.

CeX is full of the absolute foulest human beings and foulest smelling men and women I've ever had the misfortune of socialising with, with rare exceptions. Some people will say "It attracts smelly bastards." but poor people are poor, not dirty. It's 100% the staff. If you ever go into one run by someone who isn't a balding millenial wearing a Trivium T-shirt, the staff are all young student age men and women who are clean and smell fine. If it is, it reeks like lynx and stale BO and the staff are all fat with bad breath; even the women.

This is fact and can't be disproved.
>> No. 7442 Anonymous
6th December 2018
Thursday 1:48 am
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>>7441

>This is fact and can't be disproved.

The trump defence.
>> No. 7443 Anonymous
7th December 2018
Friday 11:45 am
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>>7441
I remember once dropping a CV off there and the guy I waited in the queue to give it to said "Give it to the manager" and started serving other people. Didn't know who the manager was so I just stood there until he repeated "Give it to the manager" and I asked him who was the manager, and he pointed to the guy stood next to him, who up until now had been totally ignoring me.
>> No. 7444 Anonymous
7th December 2018
Friday 9:44 pm
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>>7443
I had an interview at CEX as a teenlad jobseeker but didn't get the job. Probably for the best.

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>> No. 7422 Anonymous
11th November 2018
Sunday 3:26 pm
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It's time for me to switch energy providers as has sadly become necessary every 12 months. The price comparison sites recommend this new outfit Powershop, backed by nPower. Their bog standard tariff is quite competitive but they have a gimmick contract where you have a slightly higher standard tariff as a fall back, but you can supposedly save hundreds of pounds a year by buying discounted 'Powerpacks' of energy through their app. What's the idea? Is it simply they offer you a discount for buying in advance, is that literally all it is? Does anyone have any experience with this kind of thing? Is it worth the faff? Probably not I bet.
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>> No. 7425 Anonymous
12th November 2018
Monday 12:09 am
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>>7422
I feel bad because I have never actually switched anything like this, and I really should. I pay a couple of grand a year for power/gas.
>> No. 7426 Anonymous
12th November 2018
Monday 1:55 am
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>>7425

https://www.moneysavingexpert.com/family/money-help/
>> No. 7427 Anonymous
12th November 2018
Monday 5:38 pm
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>>7425
Jesus. You're pissing money away.
>> No. 7428 Anonymous
12th November 2018
Monday 6:01 pm
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>>7425
You should switch provider as often as possible tbh.

>>7426
>> No. 7429 Anonymous
12th November 2018
Monday 6:02 pm
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I would recommend www.reddit.com/r/ukpersonalfinance

They are very helpful.

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>> No. 7057 Anonymous
18th July 2017
Tuesday 3:32 pm
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A friend of a friend who stayed with me for a while but has now left somehow accidentally got a credit card he ordered sent to my address.

Is it okay to hand it over to him or does this sound like it might be some sort of fraud where I'd be accountable for the debt?
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>> No. 7416 Anonymous
30th October 2018
Tuesday 12:42 pm
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>>7062
I don't understand this - if the mail is being returned to sender then someone is obviously using the property in order to receive it, so why would they delist it?
>> No. 7417 Anonymous
30th October 2018
Tuesday 3:22 pm
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>>7415
n1 m8 bailiff won no wot it im
>> No. 7418 Anonymous
30th October 2018
Tuesday 5:58 pm
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>>7417
Do you have anything to add to the conversation?
>> No. 7419 Anonymous
30th October 2018
Tuesday 7:17 pm
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>>7418
He's evidently added more than you have. Now piss off trying to start yet another cunt-off.
>> No. 7420 Anonymous
30th October 2018
Tuesday 9:21 pm
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>>7419
I'll take that as a no then.

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