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PricedOut Discussion
Forums > General Discussion > General Discussion
Subject: Credit crunch o-meter
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chefdave


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Posts:477
11/06/2008 9:50 AM Alert 
A recent EA friend of mine has been crunched and a friend of a friend was leaving Lloyds anyway but for some reason got laid off a week earlier than he expected. Then, met another person yesterday who had just been made redundent after his 6 month probationary period finished at RBS (having just purchased a house three months earlier!).

If this wasn't enough my mum is expecting her endowment cheque tomorrow which was to pay off the mortgage on her old house before she sold it. She's been paying into it for years and I'm anxious to know whether it comes in on target or not. I won't post the amount she is expecting to get right now, but thought posters here may be interested in the outcome of the situation as we've been told for months that people's pensions and endowments have been propping up the housing market and will be affected by sub prime.

Will update tomorrow.
slicedcake


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Posts:296
12/06/2008 1:07 PM Alert 
Large numbers of people will rent out their spare bedrooms to carefully vetted lodgers when they start to need extra income.  The tax free rentaroom scheme, -I wonder how many people have lodgers at the moment.
chefdave


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13/06/2008 12:06 PM Alert 
Tax breaks to buoy up the housing market?! Well blow me down.

The cheque still hasn't arrived.
slicedcake


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14/06/2008 1:51 AM Alert 
Posted By chefdave on 13/06/2008 12:06 PM
Tax breaks to buoy up the housing market?! Well blow me down.
A tricky one, because charging tax on a rented room in the owner's home may just mean passing the cost on to the lodger, or it may mean that the room goes unoccupied because taking a lodger becomes more trouble than it's worth.  Being a lodger doesn't suit everyone's situation, but it's an addition  to the accommodation that is available.
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