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Chimpy

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About Chimpy

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    HPC Poster
  1. The only shared ownership schemes that are any good are the ones run by Housing Associations. This is due to the fact that they charge you mimimal ground rent, I was paying £20 / month for their 40% share. So thats pretty good. The only downside is that if any repairs are needed to the property, you have to stump up the amount in full yourself. I got all the windows replaced, which costed about £2000 and they wouldn't pay a penny towards it. :angry: I bailed out years ago though. In rented now, waiting for houses to come down more.
  2. I wouldn't be too sure about that. If we have Japan style deflation then a Mars Bar will be worth roughly the same in 20 years as it is now. Deflation = People with debt are slaves to banks for the next 25yrs. Loans linger for longer.
  3. Oooooh, add mine. BTLer who bought 2x properties at top last year. Total spent 250k. Total loss to date (if he sold properties now) : 25k approx.
  4. I know a guy who bought 2x BTL's at the peak of the market, last year. I tried to convince him not to do it, but as usual he thought he was right and went ahead with it. We now don't bring up the subject of house prices. Bit of a sore point.
  5. So, halifax's trick didn't work then. What a suprise !?
  6. They have already done something to rightmove. You can now only search up to 2000 properties, so you can't find out how many properties are avaliable in area with more then 2000. The last time i checked, york have a properties for sale count at 2200 but now it just says 2000 (last august the property count was only 1400). Done the same search on leeds to test and the results came up the same 2000 properties. Tried to start a topic about it but not a member so can't. Need to know if anyone else has experienced this problem?
  7. I don't think the MPC will alter the rates just cos the lenders are crying out. The MPC have addmitted that they made a mistake in 2005 by lowering rates for the lenders. They won't make this mistake again, i think Merv is now running a tighter ship. Anyway, we shall see today.
  8. Also, home owners have to spend a fortune repairing/maintaining houses etc.... Factor in that cost and i don't see why anyone would want to buy a house in the current market. The few buyers left must be crazy !!!
  9. Yes, you would also have paid around 22k interest to the banks over 5 years. Interest is the effectively same as rent. You get a roof over your head for x amount per month. So yes you would have been 8k better off by buying. But then what if house prices drop further than 2003 levels. Then you have also lost all the money you have invested. The way i look at all this is far more simple. I rent a flat for £650/ month. To buy the same flat would cost me 180K. If i had 80% INTEREST ONLY mortgage with 5% interest rate then this would work out at £600/month. So therefore buying (on interest only) and renting are nearly the same, in terms of how much it cost per month Also, by renting, i get to choose where to invest my spare cash. Where as with buying a house on a REPAYMENT MORTGAGE all your spare cash goes into an asset which is getting devalued by the day. IMO renting is far the better option in the current market and also was 5 years ago. However, go back 8 years and buying may have been a better option. But i was only 18 then and not really into buying houses !!
  10. They would be better off putting it on at a lower rent and actually getting some money for it rater than getting nothing. Afterall, its going to be a long wait to find a buyer at that price. Who would want to rent a house that you know is on the market to be sold ? It must only appeal to a very small % of rental market.
  11. Can you post a direct link to the sky website. I can't view it on your blog, work security issues !! Cheers
  12. You are right. They seasoned less in Jan/Feb and therefore don't need to do as much this month. However they will now have to stick to last years adjustment of -0.7% for the next two months. otherwise they will have to take off more positive adjustment from the end of 2008. I think they are banking on June's figures being a bit more positive than May's, if not then they are truely fuc*ed
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