HMG Knew the housing market was going to collapse!

[SplatSpeed]

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

[LittleBro]

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

Who didnt see it coming?

[Don]

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

bks. Whilst the HMRC got the proceeds from the sale of their properties they will be renting the same buildings for the forseeable future - tied in contractually. It was a short term gain that will deliver long term pain - i.e. cost more in the end.

It's usually the kind of thing troubled businesses do to raise capital to tide them over a bad patch.

Well the HMRC didn't guess that one right. They were doing it when times were STILL GOOD! (Supposedly). NOW what the feck will they do if they need additional loot? Yes, that's right, get it from US!

[SplatSpeed]

LittleBro said:

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

Who didnt see it coming?

the dosey bint on channel 4 that bought 7 properties she hadn't seen because she got divorced and needed an income and is going to loose her house

[Skipppy]

LittleBro said:

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

Who didnt see it coming?

Agreed, 6 x salary for mortgages was always going to end in tears. Labour have created a sense of false wealth whilst spunking all surplus cash on the welfare state and civil servant 'non-jobs.'

We're in for it now, Christmas is cancelled!

[SJobson]

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

I think you'll find it was more like 7 years ago. And I'm sure the housing market is irrelevant to HMRC's offices.

Keep up...

[SJobson]

Tonker, it wasn't done in two steps; they were offshored directly. Called the Steps deal, there's plenty on google about it, such as this: Clicky

[SJobson]

I know who acted for Mapeley, because I was there at the time...

[thehawk]

I think you'll find that most people knew the market was going to collapse - except estate agents, mortgage brokers and homeowners. In their little world prices always rise.

[Mr POD]

thehawk said:

I think you'll find that most people knew the market was going to collapse - except estate agents, mortgage brokers and homeowners. In their little world prices always rise.

I knew it was on the cards. Which is why I never made an offer for next door, on a buy to let when it was for sale last year. Young Couple who bought it now have £25K plus negative equity. LOL.

[LittleBro]

SplatSpeed said:

LittleBro said:

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

Who didnt see it coming?

the dosey bint on channel 4 that bought 7 properties she hadn't seen because she got divorced and needed an income and is going to loose her house

Haha...good answer!

Still, at least she thought about it for a whole weekend

[Disco_Dale]

LittleBro said:

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

Who didnt see it coming?

Agreed.
You'd have to be rather silly not to realise the rises over the last 10 years were unsustainable and the whole thing was going to go bang quite spectacularly.

Starter homes more than tripled in price in the space of 7 years in the area I rent in, how is that ever going to end up any other way?

[raf_gti]

Mr POD said:

thehawk said:

I think you'll find that most people knew the market was going to collapse - except estate agents, mortgage brokers and homeowners. In their little world prices always rise.

I knew it was on the cards. Which is why I never made an offer for next door, on a buy to let when it was for sale last year. Young Couple who bought it now have £25K plus negative equity. LOL.

ha fking ha indeed. Let us all laugh at the young couple who have this negative equity and who could potentially be severly screwed in the next couple of years.

knob

[Flintstone]

Mr POD said:

thehawk said:

I think you'll find that most people knew the market was going to collapse - except estate agents, mortgage brokers and homeowners. In their little world prices always rise.

I knew it was on the cards. Which is why I never made an offer for next door, on a buy to let when it was for sale last year. Young Couple who bought it now have £25K plus negative equity. LOL.

May we rip the piss when you get made redundant?

[sleep envy]

Don said:

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

bks. Whilst the HMRC got the proceeds from the sale of their properties they will be renting the same buildings for the forseeable future - tied in contractually. It was a short term gain that will deliver long term pain - i.e. cost more in the end.

It's usually the kind of thing troubled businesses do to raise capital to tide them over a bad patch.

Well the HMRC didn't guess that one right. They were doing it when times were STILL GOOD! (Supposedly). NOW what the feck will they do if they need additional loot? Yes, that's right, get it from US!

bingo!!

care to guess how long they're tied in to a lease whilst the cost/sq ft was at its highest?

[funkyol]

raf_gti said:

Mr POD said:

thehawk said:

I think you'll find that most people knew the market was going to collapse - except estate agents, mortgage brokers and homeowners. In their little world prices always rise.

I knew it was on the cards. Which is why I never made an offer for next door, on a buy to let when it was for sale last year. Young Couple who bought it now have £25K plus negative equity. LOL.

ha fking ha indeed. Let us all laugh at the young couple who have this negative equity and who could potentially be severly screwed in the next couple of years.

knob

Yeah, what a weapons grade ! Hahaha, people who earn an honest wage becoming trapped in their property, struggling to pay is fking hilarious!

[sleep envy]

Mr POD said:

thehawk said:

I think you'll find that most people knew the market was going to collapse - except estate agents, mortgage brokers and homeowners. In their little world prices always rise.

I knew it was on the cards. Which is why I never made an offer for next door, on a buy to let when it was for sale last year. Young Couple who bought it now have £25K plus negative equity. LOL.

I seem to recall you bemoaning the fact that prices were so high you were worried that your children might not be able to afford to buy

lets hope when they do buy their neighbours don't laugh at them if they should suffer -ve equity

you clown

[10 Pence Short]

anonymous said:

[redacted]

They should fill Private Eye full ov nekked birds with tats. That'd work.

[Deva Link]

anonymous said:

[redacted]

It was widely reported at the time and it pops up often in articles that are having a dig at HMRC or the Government.

[V8mate]

SplatSpeed said:

HMG knew the housing market was going to collapse!

so two years ago HMRC sold all it's property to an offshore company and now rents it back.

prudance my fking arse!

What has the current state of the domestic housing market got to do with how an organisation - public or private - manages their commercial property portfolio?

Edited by V8mate on Tuesday 23 September 14:57