Landlord and BTL Blog: Court fees and bikes out price CPI

Tuesday, August 02, 2016

Court fees and bikes out price CPI

The UK Consumer Price Index has gone up very slowly, up just 0.5% in the year to June 2016.

However, there are some things that seem resistant to any kind of economic turmoil. Even during a financial armageddon, some things just keep on getting more and more expensive.

Bicycle prices

Take bicycles for one. I can remember when five hundred pounds seemed a lot of money for two wheels strung together by a bit of chain. The next time I checked that had become £5,000 - for that you got a BradleyWiggins, Tour de France winning model - still I'd be expecting a car for that price.

However, bike prices move very fast - to get 'Wiggo's' latest ride you will need to spend £15,000.

Although you could spend a lot more than that - a quick search on the wonder web had me looking at a $100,000 push bike ( although I do recall that one involved diamonds )

The upward inflationary pressure on bike prices is easy to understand.

The most expensive bike equation

Price of most expensive bike = the price a MAMIL (middle aged man in lycra is prepared to pay to impress / out-do his fellow MAMIL's )

I guess it could come under Darwinism. The evolution of the MAMIL and his bike.

Court fees

The other thing that keeps on going up, regardless of downward pressure from the BofE's Quantitive Easing is Court Fees.

Yes, they've gone up again!

As of Monday 25th July, a warrant of possession to instruct the County Court Bailiff has increased from £110 to £121. That's a inflation busting 10% increase.

If landlords want this to be enforced by a Sheriff, the fee to transfer enforcement up to the High Court is now £66.

Thankfully fees for possession claims have remained the same, but don't be surprised if these don't go up shortly.

The Court fees equation

Court fees = whatever the Government want to set them because landlords have no choice but to pay up

So, I guess that's less Darwin and more Hobson's Choice driving up prices.