stooH

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Everything posted by stooH

  1. Sorry, another lengthy post but a horribly complicated situation. If anyone makes it to the end advice/suggestions appreciated... My gran lives in a nice 3 bedroom semi and is about to move into sheltered accommodation. I mentioned in another thread about all the work my grandad put into the house and it seems that neither my gran or my mum want to sell the house on. So they've come up with a solution! One of my three brothers rents a 2 bedroom terrace and they've decided that they're going to let him move in to the house. I'm genuinely overjoyed at this, they've got a young son, they'll be really local to us and it will be great to see them get their first proper house. The way it was described to me was "we're not really helping them too much financially" they're going to get it valued and fix that valuation in now, my brother will then effectively pay rent to my gran (and as/when she passes on it will then go to my mum) for a couple of years. This will effectively be a deposit on the house and then in a couple of years they'll take out a mortgage and buy it properly it for the pre-agreed price (minus the 'deposit'). I was fairly happy with that, yes it will be quite a bit of help to them but it will allow them to get established. I did have a few concerns about it, like the fact that i'm not sure he can actually afford the house, even if they could scrape together the amount for the mortgage in a couple of years he then has to consider the huge step up in general costs from a rented terraced house to owning your own semi (all the service costs go up, council tax, repairs, decoration etc). I raised the concerns with my mum at which point she started getting very flustered and going on about how we'd benefited when we got married from a wedding gift from the in-laws, seemingly completely ignoring the savings of our own we'd put into buy our own house and the work that i've put in over the years to get where I am and be able to buy a nice house like we've now got. The story then started to change... she said that giving them a 25 year interest free mortgage was no big deal.... It seems that what she's actually going to be doing is when she inherits the house she'll let them continue to live there for the same ongoing rent and eventually the house will be theirs. All they have to do is pay back the agreed value of the house, no interest. I was gobsmacked. She seems to have no comprehension of compound interest, she thinks this is just a little thing she's giving them. I'm one of 4 brothers, and there doesn't seem to be any particular willingness to help out any of the others in the same way, one of the others might get the proceeds of the sale of contents of the house to help them out a bit, wow probably a couple of grand. Just shocked by the situation, I genuinely thing it has the potential to tear the family apart. Unfortunately my mother doesn't see this and seems impervious to wanting to talk it through sensibly. It's very hard to put in to words, i'm not after the money, really not, but there just seems to be a huge fairness discrepancy. I also fear that there is the potential for all kinds of inheritance issues, maybe taxation because of the way it's being structured?? I obviously need to talk to my brothers and clarify what his understanding of it is but don't want it to come across as sticking my nose into 'his business' or ruin our relationship. It's going to be a right sh!tty conversation to have...
  2. Early Inheritance & Interest Free Mortgages

    It's one that you pay a rent to each month so no issue with means testing, but the sale (or now 'rental') of the property will be covering that.
  3. Early Inheritance & Interest Free Mortgages

    And this is what concerns me, a number of people are taking it that "I want" and that's not what it is. If it was how it had been explained to me initially I don't have an issue with them getting a boost that I never got from my parents, i'm far enough along now that I don't need it. However, when it comes to this scale of benefit and it going to one son who's worked all his life and got to a reasonable level but just never done the saving thing, i'm utterly perplexed. And I know that eventually it's going to start an absolute sh!t storm. I'm trying to head it off at the pass. Realistically the inheritance from my mother will be 15/20/30 years down the line and i'll have absolutely no need for it, i'll in all likelihood just pass it onto my kids (plural!).
  4. Early Inheritance & Interest Free Mortgages

    I think the inheritance tax probably won't be an issue, whats the limit now 325k per person and my gran would have my grandads amount added to that, I very much doubt her estate will get anywhere near that. However, it does get complicated in that my mum has a sister. What if the value of the house is more than the value of my mum's share? I presume that would at least force the matter in that the house would have to be officially sold to my brother. What if my aunt doesn't like the arrangement as it locks in the value of the house now rather than it being rented out and the value continuing to rise. What if she kicks up a stink about her kid (another grandchild) who's not benefiting in any way. The possibilities for grief are endless...
  5. Early Inheritance & Interest Free Mortgages

    The argument went along in both directions, I tried pointing out to her how much interest you pay in your monthly mortgage repayments, especially in the early years and also tried to point out that it was particularly unfair on one of my brothers who has just had a kid and rents a small flat. I got the response "They couldn't afford to pay the monthly amount so it's not an option. What do you want me to do, sell the house?"
  6. I knew I'd read something recently along these lines. I've got almost the exact same scenario just about to happen and caused a major row with my mother. But I shall start a separate thread as i'm really not sure if i'm being an arse hat about it or not.
  7. Don't leave McLaren they said...

    Uh oh does that mean Vettel is going to start winning again?
  8. Lotus transporter truck jumps a Lotus F1 car

    I saw them laughing in the pit garage and was bemused, was it at him going up in flames?
  9. Bloody hell, sorry to hear this Waylander, how good is the footage? Faces that you can pass on to the police? Good luck getting ti sorted.
  10. Surface Pro 3 ....

    Interesting read in your diary, we've got one of the original Surface RT's at home, and there are exactly the same issues as you mention, apps and using it on your lap. Needs more apps and more usable ones. If you're sitting with it on your lap you need to use it as a tablet, we've got the touch keyboard and whilst it's surprisingly good when sitting at a table it flexes on the lap and is unusable. We're trying to decide what to do get the kids at the moment, they're getting to that age where they're both needing something to do homework on. There's the one main home PC, wifeys Surface and a media centre (which is only used for media stuff). Not sure whether to go down the route of getting them PC's, laptops or tablets. In all honesty it's going to be Windows based as we're primarily a Windows household but what do we get. Laptops, Windows tablet, Surface or Surface Pro?! Too many options!
  11. Is Eddie Howe the real deal?

    Ah, I fondly remember him coming to Pompey in the Championship for a reasonable fee (400k) move from Bournemouth. Big things were expected. He did his knee on his debut and was out for 4 or 5 months. Came back for the first match of the new season, lasted 9 minutes and collapsed in a heap again. And that was that. Last we saw of him. He went out on loan a couple of times to try and get his fitness back but never properly recovered. However, I do think he's a very astute manager and have a lot of time for him, I wish him all the best, it also has to be remembered that he's only in his mid 30's so he's got a lot of time on his side. There's always that fear thought that he'll do a Moyes...
  12. Two bedroom house in Washington, USA

    I looked through those pics and thought exactly the same Patently, those cushions show a complete lack of class, ruins the whole thing (well maybe not) and don't like the red kitchen either. Does look slightly sterile though.
  13. New pants please

    Holy funk. Utterly suicidal manoeuvre to try and get into a lane she had no visibility of.
  14. "Navdy" - What do we think of this, then?

    Broadly I agree with Tipex, do you have your phone handsfree in the car? Mines all linked in and my texts get read out to me and I can respond verbally and I don't mind that too much but agree on things getting projected and distracting you.
  15. My new baby

    Not so good with cornering forces though...
  16. My new baby

    You certainly have some interesting hardware. Where are you based, Ukraine?
  17. Petrolhead Quiz

    Just seen this on Facebook but it's a stand alone quiz you can take, 18 mechanical questions. I'm quite surprised to have got 88% Let us know how you do... How much of a petrolhead are you really?
  18. Petrolhead Quiz

    My cock up was the tyre one, they have a different system over there and the one about zerk fittings, I have no idea what one of those is... Spark plug one was a lucky guess.
  19. My daughter has somehow managed to lose her iPod touch, we've pretty much turned the house upside down. Normally i'd say tough sh!t you lost it, your problem but wifey *thinks* she may have put it somewhere for safe keeping before we went on holiday (we've not seen it since we got back). It's now starting to cause issues, when she's allowed some time to play after her homework she heads for sons xbox then arguments ensue. So I was thinking about trying to pick up a refurbed one from somewhere, however, like all Apple products they retain their value stupidly well so they're not massively cheap and I don't want to pay a load for a duffed up one. Does anyone know a reputable place that sells refurbed iPod Touches for not crazy money. Or do I just bite the bullet and buy her new one (might hold off for her birthday next month in that case).
  20. Good suggestions, she's already got a docking station but I could ask her if she wants a new upgraded iPod for her birthday. My Dad works for the John Lewis group so think he can get 12.5% off electricals, although a fiver more than Amazon does give you the extra year. All food for thought! Only problem with doing that for her birthday is having to wait through 7 more weeks of sibling bitching/fighting/nagging
  21. I've not got an old iPhone knocking around, so no But thanks for the suggestion Looks like I can get an 8gb White 4th Gen iPod Touch in reasonable nick from CEX for £80 so might go down that route. To be honest she didn't have masses on there so won't miss the 16 -> 8gb adjustment. As long as she's got her favourite games and music from Jessie J, Katy Perry et al she won't notice the difference.
  22. Guess I could take a look at somewhere like CEX? Seems a touch harsh getting it for her birthday particularly as Mrs H is umming and aahing and can't remember if she did put it somewhere. The other thing is we had builders in whilst we were away, used them for years with no problems but know he had his nephew with him helping out, just gives me that nagging feeling....
  23. Bra-Funking-vo! That second one had my heart beating faster watching it
  24. World's Greatest Drag Race 4!

    Still looks pretty nice though
  25. World's Greatest Drag Race 4!

    Exactly that. (You've rounded up the engine size though it's a 1.75 litre turbo)