Barb E Dahl

No no no, this is simply incorrect. Banks are starting to lend to each other again. 2 have dropped their mortgage rates only this week! Why? When the BOE have stated they will HAVE to increase interest rates later in the year? 95% mortgages are coming back most definitely in the VERY near future. I have a reliable source about this and even some Estate Agents have gotten wind of this and told me this week, that the market will be going crazy again with FTBers as soon as they are announced. I am a bear very quickly turning bull.

I've never bought a repossession before but seriously considering it. We plan to go in low, and will have to get a valuation done quickly in order to get things sorted within 28 days. We've been warned that someone could come in at the last minute and offer more. Unfortuanately we'll have to get a mortgage. My question is if the valuer says the property is worth X which is basically what we've offered, then someone offers an additional £5000 ...what happens? Will we have to fund the difference out of our own pockets or will the mortgage company take into consideration that it's a repossessed property and might be undervalued OR will the valuer likely value it higher because it's a repossession? The property is worth more in the current market in our opinion but we're after a bargain to cushion us if prices do drop a lot in the future. Any tips and advice appreciated.

Westcliff on sea is the new Leigh on sea apparently! Millionaires retreat.... http://www.rightmove...y-18569271.html And plenty of entertainment in that neck of the woods apparently!!!!

I know this question has most probably been asked before, but I cannot find any posts. I keep questioning why one should sell their house through an estate agent and pay what I consider in an over inflated housing market as an extortionate amount of commission. In my experience they may sell your property but the whole process could have been a far simpler, than it has previously been! And let's be honest, the Estate Agents I have come across are not that great at selling. If there was no buyer, there would be no sale. I don't believe 99.9% of the population have ever bought a property just because an Estate Agent did a good job. What is the main thing preventing Estate Agents from going out of business? I just looked at Sarah Beeny's Tepilo site and it still hasn't really taken off! Why? It's free, what have people got to lose? I seem to remember some talk about Tesco's setting up a property site. What happened to that? What are the legal boundaries to these sites, when the BBC once showed how easy it was to set up an Estate Agency in 24 hours, with no skills, experience or regulation? Maybe I'm missing something...

Affordability... My brother says the maximum they would lend him equates to 25% of his basic disposable income (basic pay). I told him I thought the rule was not to spend more than 40% of your disposable income on a mortgage. He has no loans whatsoever, he owns his car outright, he uses his credit cards every month and pays them off as soon as the bill comes in. He has an awful lot of shares, should he have mentioned this? I told him to tell them everything, but I'm not expert. He didn't mention his shares.

Read the post... Telegraph - House Prices Falling Faster In Uk Than In Spain

He invested in a lot of long term investments in his twenties rather than buying because he travels a lot with his work and I think they will mature over the next couple of years, but because he has a family now, I think he just wants to settle down a bit. This is another thing I don't understand. Even if he loses his job, his investments will cover his whole mortgage eventually. He is probably the least risky person trying to get a mortgage. Jungllie jiim, funny you should say that, I just told my brother to start putting in cheeky offers to see what comes up, What ever is meant to be will be!

He is 33 years old ...so not that young and he is always very careful with money.

YBS

Brother has just told me that he was offered only 2 times his annual salary this afternoon. A bit of background information, he is a ftb, married with one child, and was going to put down 10%. The mortgage deal is very good. His credit checks all came back fine. He thought he was in a good position. The building society told him if he applied a month or so ago, he would have been able to get 3.5 times his salary. He forgot to ask why things had changed.... Now he is stuck. The decent properties in his area start around 3x his annual salary. He says it will take him years to save the difference whilst renting and he showed them that he could easily afford the repayments because he gets regular overtime and an annual bonus every year which is about 20% of his wage. (which they said they couldn't include). Feel so sorry for him. He is now worried that applying for a different mortgage will result in more credit checks and actually ruin his credit report. Anyone else having trouble getting a mortgage?

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In layman terms the more expensive the property, the higher the cost of survey.

I don't need a significant amount of time to save £1k. Unless you class waiting until pay day a significant amount of time? lol! Just being sensible, put back in what's been taken out. My original comment was a bit flippant ...just trying to fit in with you paupers.

Well obviously our money doesn't grow on trees like yours obviously does! Idiot.

No ties, great opportunity to pack up and leave the country and buy somewhere you'll get more value for your money!