Eastenders - Current Episode Discussion - VIII

[xx_Dan_xx]

Mick and Linda found a bar in Spain for about 150k, so I think they could've bought everything outright and still had half of it left.

Why lose half of it when u can keep all of it... That way they're maximising the interest from the bank, have a mortgage which is paid for by the bar and kept the 1 mill.

Or.. Look at it this way, the interest for the mill pays for the mortgage meaning a free bar.

[xx_Dan_xx]

.

[maidmarian]

A few points re Kat&Alfies need to "borrow "
money from bank ?? and for medical tests.

What were their finances pre lottery win-
Did they already owe bank from before?
Even if they were in an IVA -it is possible
for later winnings/legacies to be taken into
account in settling the IVA. That may mean
less available money but then shouldn't
be getting further finance if IVA not settled?

If it was a debt with bank they may have
declared a health condition ( not Alfies new
problem) previously and bank may wish
to check current health.

Re property values. based on estimate for
bar in Spain-further finance seems unnecessary
unless they want to keep a lot of available
capital from Lottery Win. and do as Dan
suggests- Perhaps they had advice from
National Lottery - tho that might be for even
bigger amounts.

No idea what current value of Vic pub is- but
last year there was some publicity about
how unrealistic it was for the residents of
the square to be living there-in their types of
unemploym ent!

The houseprices in the actual Square in Hackney
on which Albert Square is based were at the
time £1million for 3 bed/ 2bath and £662k
as an average! Perhaps Alfies est was correct.!!

The reason for health check is now apparent
-so Alfie would find out his new health problem
and Bank and financing just a means of
doing that.

[maidmarian]

Dupl

[Kim]

Why lose half of it when u can keep all of it... That way they're maximising the interest from the bank, have a mortgage which is paid for by the bar and kept the 1 mill.

Or.. Look at it this way, the interest for the mill pays for the mortgage meaning a free bar.

I doubt they could get interest paid on the whole amount or anywhere close to it. Many accounts will only pay interest up to an amount such as £2,500 and you can only have an account or two with each provider. Even if they could put it all in an ISA, I think they'd still pay more interest on the bar than they received.

It all struck me as a very contrived way to give Alfie bad news.

Re: The value of the Vic, Phil was asking 800k when he sold it. I think Alfie was quite desperate for it so offered above the odds.

[maidmarian]

I doubt they could get interest paid on the whole amount or anywhere close to it. Many accounts will only pay interest up to an amount such as £2,500 and you can only have an account or two with each provider. Even if they could put it all in an ISA, I think they'd still pay more interest on the bar than they received.

It all struck me as a very contrived way to give Alfie bad news.

Re: The value of the Vic, Phil was asking 800k when he sold it. I think Alfie was quite desperate for it so offered above the odds.

I agree whole situation is contrived
and with the points about interest
rates etc available to most investors

I think if you have a lot of money to
invest are prepared to commit for
considerable time accept restrictions
on withdrawals and take some risk -
you can get better rates of interest but
not many people can or wish to do that!

[maidmarian]

Dupl

[Dazzle]

Interesting discussion guys.

I think Kat and Alfie must have done as Dan suggests and got a mortgage so they could keep hold of their capital. Even if interest on the million didn't pay for the bar they were probably hoping the bar would pay for itself (and their new home) so they could keep their nest egg intact.

The trouble is, as several of you have pointed out, it's just not in character for them to be so sensible (especially given the speed at which it all happened)!

Talking of finances, it's always bugged me where Mick got a bagful of cash (£800,000 was it?) to pay Phil for the Vic. Since it's never been explained or even alluded to the writers must just not want us to think about it too hard!

[maidmarian]

Interesting discussion guys.

I think Kat and Alfie must have done as Dan suggests and got a mortgage so they could keep hold of their capital. Even if interest on the million didn't pay for the bar they were probably hoping the bar would pay for itself (and their new home) so they could keep their nest egg intact.

The trouble is, as several of you have pointed out, it's just not in character for them to be so sensible (especially given the speed at which it all happened)!


Talking of finances, it's always bugged me where Mick got a bagful of cash (£800,000 was it?) to pay Phil for the Vic. Since it's never been explained or even alluded to the writers must just not want us to think about it too hard!

National Lottery provide independent financial
advisors to visit some winners. I found this
applies to winners who.win £500,000+
so.Alfie & Kat would qualify.

They advise to " take your time" and there
can be tax implicationd if you give away
money and then die within ?7years.
Also.how to.make your money last and
provde an income for future yeard.

So.perhaps Alfie took.some advice from
them. I know some advisors think
you should retain as much capital.as possible
(similar to Dan suggestion)

Im sure Im too cautious but who knows if
you got a million or more!!

[maidmarian]

Dupl