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OldGreg

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About OldGreg

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    Cumbria
  1. The problem was that the banks didn't check incomes and so they were unable to tell the difference between good borrowers like yourself and the high risk liar loans. If they had bothered to check applications correctly then liar loans could not of existed, and no one would of ever of heard of Mr Pebble.
  2. Make sure you tell the estate agents on the sly that you want it priced for a quick sale. That should help drag the average down a bit. The agents shouldn't mind as they are desperate for sales at the mo. In fact they probably love sellers with that attitude.
  3. I was too young to remember the last crash but from speaking to people prices here in south west cumbria didn't experience a boom at all late 80's. Apparently prices just stagnated during the 'bust'. Bearing in mind you could buy a 2/3 bed terrace for 20k this is perhaps hardly surprising. This time we have had HPI of around 150% and I fully expect prices to drop, although not as much as other areas. I would say prices are around 5-10% off peak for the ones that are selling (very few). Interestingly, new properties still come onto the market at peak asking prices. Most properties have been on the market for 6 months or more. As much as I'd like to see 40 - 50% falls, I think 20 - 25% would be more realistic given the relatively low starting point. I could buy a terrace now with a very small mortgage but I'm still going to wait it out. The Mrs and I are expecting our first child in a matter of weeks so we have enough on our plate at the mo. Were happy renting and hopefully we may be able to pick up a nice semi at a decent price at auction in a year or so, as I believe that's the only way we will be able to get a real bargain round here.
  4. Isn't 45,000 the figure the CML predicted 6 months or so ago. Not much of a story really, everyone knew they would rise. Of course if this keeps on climbing...
  5. Most probably. Also, what about capital gains (lol, I know) If you buy a 50% share are you only entitled to 50% of the gains? So if prices did increase the 'next run on the ladder' would be much further away than if you owned a 100% share.
  6. Bit of a pointless exercise, they will never be able to make it look as much of a dummy than the real one.
  7. The one far left looks like the door's on upside down. F**k me, 215 grand and they ain't even bothered to tarmac the ground in front.
  8. I remember a thread on MSE a month or so back where a poster was complaining that their lender had requested a proof of repayment vehicle for an IO mortgage. One of the mortgage advisers implied all he had to do was open an ISA and stick a few quid in.
  9. Too right it's fraud, and I hope your right, it's just that nothing surprises me these days. Incidentally, what would happen to those found guilty of fraud? Could the courts handle that many criminal charges, would it be a custodial sentence, what if the mortgage was in joint names and the defendants had kids? And could the banks force repossession, even if they weren't in arears. This would be huge if it was exposed to the full extent as has been going on
  10. Or... Only the mortgage advisers et all will be found to be fraudulent. The sheeple will be relinquished of all responsibility and be bailed out with compensation.
  11. Says the man with a pig for an avatar. Oh, hang on, I think I've had her.
  12. Wasn't really the point I was making. BTL is F***ed I know. It's the selective cutting and pasting picking out the bearish statements and ignoring anything anti HPC which I was pointing out. I like to be able to read the editited highlights but find I'm increasingly reading the articles to make sure I get the full unbiased story.
  13. Gordon Brown just called the 'subprime minister' on headcases.
  14. Aren't the exported goods cheaper to buy? That's why it boosts exports. It's the increased volume of sales due to being more competitive that gets a boost.
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