Blair could potentially go bankrupt - £4million mortgage!!!!
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Anyone see this on the front of the Mail today? Bliars mortgage is almost £4million, after they bought 2 flats in Bristol (2002) and a £3.65million town house in London (now worth £3.45million tops!)
Apparently they tried to let the London house out for £4k per week, but have only been able to get £2k per week, leaving them to find an extra £6k per month to pay the mortgage (mortgage payments are £14k/month!!) - plus its interest only!!! The tenant is about to move out as well!...
They were going to sell their 2 flats in Bristol (bought in 2002) to add to the down payment for that London place, but they didnt because they'd fallen in value by about £25k each (from the price they paid, not the original asking price!!) so theyve kept them!
The article suggests they may end up having to sell the London house, which has gone down in value by at least £200k since they bought it in 2004, and the paper reckons they'd lose the best part of £400k total (inc fees and taxes) if they did sell!!
Basically one big ****-up for the Bliars!! They've clearly had some very bad financial advice, or just been watching too many get-rich-quick property programmes on TV which make out BTL as a goldmine!!!
Apparently they tried to let the London house out for £4k per week, but have only been able to get £2k per week, leaving them to find an extra £6k per month to pay the mortgage (mortgage payments are £14k/month!!) - plus its interest only!!! The tenant is about to move out as well!...
They were going to sell their 2 flats in Bristol (bought in 2002) to add to the down payment for that London place, but they didnt because they'd fallen in value by about £25k each (from the price they paid, not the original asking price!!) so theyve kept them!
The article suggests they may end up having to sell the London house, which has gone down in value by at least £200k since they bought it in 2004, and the paper reckons they'd lose the best part of £400k total (inc fees and taxes) if they did sell!!
Basically one big ****-up for the Bliars!! They've clearly had some very bad financial advice, or just been watching too many get-rich-quick property programmes on TV which make out BTL as a goldmine!!!
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But surley Chery(SP) Blair is able to pay of that easily. Being a lawyer, when say Shell or BP have a problem, they just say heres £2m, sort us out?
I thought it was just T Blair who is in debt.
Scotty
I thought it was just T Blair who is in debt.
Scotty
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Originally Posted by Suresh
If it's true Blair should resign
. If it's not, the Mail will be paying TB libel damages for years to come. ![Luxhello](https://www.scoobynet.com/images/smilies/luxhello.gif)
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Originally Posted by jasey
Sounds like he's in the same boat I was in when the Tories were last in (although the amounts are different ![Wink](https://www.scoobynet.com/images/smilies/wink.gif)
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Originally Posted by Suresh
Do you reckon he'll be moving to Scotland too, to share in the oil wealth! ![Smile](https://www.scoobynet.com/images/smilies/smile.gif)
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If he has a word with Jowell, I'm sure her husbands pal Berlusconi can help out. In fact why does,nt Tony just ask him himself next time he's on another freebie holiday in Italy
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Originally Posted by paulr
He's turned the country round from the nightmare of the Tories,surely he can turn his own finances around.
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#14
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Originally Posted by Petem95
Looks like he manages his own finances about as well as "crash" Gordon manages the county's - borrow borrow borrow - and dont think about the payback ![Roll Eyes (Sarcastic)](https://www.scoobynet.com/images/smilies/rolleyes.gif)
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WHAT CRASH, you moronic imbecile
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Gordon has been in charge of the purse for NINE years, yes - NINE years and we are all so much better off than we were with the Tory useless articles!!
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Originally Posted by pslewis
CRASH????
WHAT CRASH, you moronic imbecile![Roll Eyes (Sarcastic)](https://www.scoobynet.com/images/smilies/rolleyes.gif)
WHAT CRASH, you moronic imbecile
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Since NL came into power high earners now end up losing 50% of their income to tax, up from 36% in 1997.... the country has record debts, and the economy has only been kept afloat for the last few years by consumers racking up record debts..
Its all far from sustainable, but NL lemmings dont look at the bigger picture
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#16
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Could youplease back-up your staement that we are in a CRASH?
Or has the CRASH happened?
You are a clown who KNOWS NOTHING ...now, be a good chap and shut-up![Big Grin](https://www.scoobynet.com/images/smilies/biggrin.gif)
By the way, I pay 50% TAX - whats so wrong with the rich contributing a fair share?????![Confused](https://www.scoobynet.com/images/smilies/confused.gif)
Pete
Or has the CRASH happened?
You are a clown who KNOWS NOTHING ...now, be a good chap and shut-up
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By the way, I pay 50% TAX - whats so wrong with the rich contributing a fair share?????
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Pete
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Originally Posted by Petem95
Looks like he manages his own finances about as well as "crash" Gordon manages the county's - borrow borrow borrow - and dont think about the payback ![Roll Eyes (Sarcastic)](https://www.scoobynet.com/images/smilies/rolleyes.gif)
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#18
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Originally Posted by AudiLover
Every country in the world borrows apart from those oil rich arab nations.
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Pete
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Originally Posted by pslewis
NINE years and we are all so much better off than we were with the Tory useless articles!!
Pete
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Chip
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Originally Posted by AudiLover
Every country in the world borrows apart from those oil rich arab nations.
The ECB (European Central Bank) has even warned Brown about the massive level of borrowing such is the extent
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I guess its a difficult concept for people like PSL (and other NL lovers) to grasp, but when you are spending way more than you have coming in, and continue this for years the results wont be pretty when you reach the point where you have to pay back....
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Heres the original article btw;
Even In this age of colossal property prices, the size of the Blair family's housing debt is enough to make the eyes water. The Prime Minister and his wife owe almost £4million, part of it in a 95 per cent mortgage on a single property.
It is impossible to see how they can manage to be so deep in the red unless very special circumstances apply. Both are reasonably high earners by middleclass standards but they are not among the super-rich. Nor have they been lucky with their investments.
Their only success in the property market has been their humble constituency home in unfashionable Sedgefield, but this is worth about the same as a large cupboard in their London house, the price of which has dropped slightly since they bought it.
Unless they can obtain a tenant for that London house, about to fall vacant, mortgage payments will gobble up Mr Blair's entire annual salary in less than a year.
Most people would be close to despair. But the Blairs, apparently, are not. Plainly, there is something we do not know. Either the couple have access to other funds or they have managed to persuade their building society they can be very confident of a large future income.
Such an income could come only from a future book deal on the couple's memoirs, linked with newspaper serialisation rights and the likely earnings they could expect from the lecture circuit. Both will depend completely on Mr Blair retaining his current popularity in the USA.
The Prime Minister has put himself in a position where he cannot risk offending American public opinion, because to do so could leave him financially submerged.
It is very foolish of him to have got himself into this fix. He cannot conceivably be unaware of the debt, or of the need to pay it off. It is impossible to believe that this does not influence him and his wife in much that they do.
It is yet another sign that his Prime Ministership, which started amid such hopes and boasts of probity, is fast losing all moral authority.
Torture is always evil
Subjected To the simulated drowning known in the interrogation trade as waterboarding, hardened CIA agents begged for mercy after 30 seconds.
Most people would not need much more than 30 seconds to conclude that such a technique was wholly unacceptable, something that a civilised country could not possibly use. Its only real purpose, like that of all torture, is to terrify its victims into submission. Any 'confession' made under such treatment would be worthless. The victim would say anything to make it stop.
That, in fact, is why this country abandoned torture more than three centuries ago. But now a Foreign Office Minister, Ian Pearson, seems to be suggesting that waterboarding might be legal in some circumstances. Comically, Mr Pearson is responsible for Human Rights.
In a slippery attempt to avoid responsibility, the Minister's statement is now being blamed on the civil servant who drafted it. It is better news that we are promised 'clarification' of Mr Pearson's answer. What a pity that the simple truth that torture is always wrong should not have been clear in the first place.
It is impossible to see how they can manage to be so deep in the red unless very special circumstances apply. Both are reasonably high earners by middleclass standards but they are not among the super-rich. Nor have they been lucky with their investments.
Their only success in the property market has been their humble constituency home in unfashionable Sedgefield, but this is worth about the same as a large cupboard in their London house, the price of which has dropped slightly since they bought it.
Unless they can obtain a tenant for that London house, about to fall vacant, mortgage payments will gobble up Mr Blair's entire annual salary in less than a year.
Most people would be close to despair. But the Blairs, apparently, are not. Plainly, there is something we do not know. Either the couple have access to other funds or they have managed to persuade their building society they can be very confident of a large future income.
Such an income could come only from a future book deal on the couple's memoirs, linked with newspaper serialisation rights and the likely earnings they could expect from the lecture circuit. Both will depend completely on Mr Blair retaining his current popularity in the USA.
The Prime Minister has put himself in a position where he cannot risk offending American public opinion, because to do so could leave him financially submerged.
It is very foolish of him to have got himself into this fix. He cannot conceivably be unaware of the debt, or of the need to pay it off. It is impossible to believe that this does not influence him and his wife in much that they do.
It is yet another sign that his Prime Ministership, which started amid such hopes and boasts of probity, is fast losing all moral authority.
Torture is always evil
Subjected To the simulated drowning known in the interrogation trade as waterboarding, hardened CIA agents begged for mercy after 30 seconds.
Most people would not need much more than 30 seconds to conclude that such a technique was wholly unacceptable, something that a civilised country could not possibly use. Its only real purpose, like that of all torture, is to terrify its victims into submission. Any 'confession' made under such treatment would be worthless. The victim would say anything to make it stop.
That, in fact, is why this country abandoned torture more than three centuries ago. But now a Foreign Office Minister, Ian Pearson, seems to be suggesting that waterboarding might be legal in some circumstances. Comically, Mr Pearson is responsible for Human Rights.
In a slippery attempt to avoid responsibility, the Minister's statement is now being blamed on the civil servant who drafted it. It is better news that we are promised 'clarification' of Mr Pearson's answer. What a pity that the simple truth that torture is always wrong should not have been clear in the first place.
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I always wondered how waterboarding works?
How do you 'simulate' drowning? - either their face is underwater or its not? wierd concept![Cuckoo](https://www.scoobynet.com/images/smilies/cuckoo.gif)
Anyone in the know?
How do you 'simulate' drowning? - either their face is underwater or its not? wierd concept
![Cuckoo](https://www.scoobynet.com/images/smilies/cuckoo.gif)
Anyone in the know?
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guys, clearly none of you know what a QC can afford.
this is so not a problem.
I am no blair fan, but to suggest this lot is reason to resign is utter bollocks.
So they have been unlucky and might stand to lose 400k on property over 5 years.
First of all you dont lose money on property unless you have to sell it, until then it is an unrealised loss, and market predictions are only estimations,
Second, if you earn upwards of 2 mill a year, losing 400k in property over 5 years is no big deal.
I think they only publish this to wow poor people!
this is so not a problem.
I am no blair fan, but to suggest this lot is reason to resign is utter bollocks.
So they have been unlucky and might stand to lose 400k on property over 5 years.
First of all you dont lose money on property unless you have to sell it, until then it is an unrealised loss, and market predictions are only estimations,
Second, if you earn upwards of 2 mill a year, losing 400k in property over 5 years is no big deal.
I think they only publish this to wow poor people!
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Originally Posted by Petem95
Apparently they tried to let the London house out for £4k per week, but have only been able to get £2k per week, leaving them to find an extra £6k per month to pay the mortgage (mortgage payments are £14k/month!!) - plus its interest only!!! The tenant is about to move out as well!...
#28
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All these figures are surely just beer money to the Blairs. He'll go onto make millions from book deals etc, and she already earns a lot from the lecture circuit and her normal line of work. I expect they'll just settle the whole debt with cash in a couple of years' time.
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Originally Posted by Adam M
guys, clearly none of you know what a QC can afford.
this is so not a problem.
I am no blair fan, but to suggest this lot is reason to resign is utter bollocks.
So they have been unlucky and might stand to lose 400k on property over 5 years.
First of all you dont lose money on property unless you have to sell it, until then it is an unrealised loss, and market predictions are only estimations,
Second, if you earn upwards of 2 mill a year, losing 400k in property over 5 years is no big deal.
I think they only publish this to wow poor people!
this is so not a problem.
I am no blair fan, but to suggest this lot is reason to resign is utter bollocks.
So they have been unlucky and might stand to lose 400k on property over 5 years.
First of all you dont lose money on property unless you have to sell it, until then it is an unrealised loss, and market predictions are only estimations,
Second, if you earn upwards of 2 mill a year, losing 400k in property over 5 years is no big deal.
I think they only publish this to wow poor people!
Agreed......Its only the thicko's that get excited over this rubbish. Blair saved the country,i'm sure he can save himself.