For a while now HMRC have been referring to me and my fellow taxpayers as ‘customers’. You may have noticed that in the short article above tax payers are referred to as ‘customers’ no less than three times.
However, I don’t feel like I am being treated like a customer. HMRC call upon me to hand over money upon demand on their terms which in turn is rarely spent wisely by the government of the day but is instead often frittered away or completely wasted.
I’m not at all comfortable in my new clothes, they are not of my choosing, they make me feel as though I am completely naked. I simply do not feel like I have any say in any of my purchases.
14 Aug 2012 | 13:55
What is going on here? Bank Base Rate at 0.5%, the Bank of England pumping billions into banks and lenders have SVR at approx 4% above BOE rate.
Is this margin going to be the same when base rate goes back to 4-5% if it is, be prepared for another crash. Quantitative easing is doing nothing if at least some is not passed onto the homeowner.
15 Aug 2012 | 09:54
I will put the cat among the pigeons. Believe it or not I do both. I advise on the product needed to resolve the shortfall and then sell it to them.
A lot of “advisers” like to be called that name instead of a “salesman” but unless your advice persuades (sells) them to put their signature on the dotted line it is of no use or ornament to the client or you. I am proud to say I do both. I think 25 years in the business, no complaints and only working off referrals says it all.
14 Aug 2012 | 15:54
Whether we do it for a living, do it to be accepted or do it to convince our children to behave, everybody sells. You may consciously sell a product, service or point of view.
Or, unconsciously sell yourself but, everybody sells. A confidence trickster sells. Professional selling however, demands personal integrity and personality awareness to excel.
14 Aug 2012 | 17:31
House prices may have risen in London and the South East but they are still 25-40% overvalued. A property crash will occur before too long probably once the EU problems really come to a head.
House prices and rents will have to fall at some point as they are becoming politically unacceptable to a large part of the nation.
14 Aug 2012 | 13:21
As has already been commented a base rate cut is unlikely to have any effect on mortgage rates. Anyway the very idea is madness. Inflation is rising.
The current bank rate is insignificant and can be considered zero for all practical purposes. Average mortgage rates are around 4% and Euribor is 0.21%. So even on 0.5% lenders are making a gross margin of around 700%.
And this with much reduced risk as criteria are tightened and LTVs reduced with house prices falling. Compare the margin to March 1990 when base rate was 15% and the mortgage rate was 15.4% – a margin of a mere 2.67% and RPI was 7.7% into the bargain. By comparison today’s rates are a rip off.
10 Aug 2012 | 10:10
This article sums up all that is wrong with the UK economy. An over-reliance on owner occupation and the tying up of huge amounts of capital in domestic property has led to our industrial base being starved of investment—why take a risk when you can make a fortune sitting on a residential property and doing nothing?
We need to get a pile of this capital actively working as a wealth making tool and this will in future mean less reliance on the housing market. If you don’t believe me look at Germany!!
16 Aug 2012 | 11:05
Thanks for all your comments this week