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House Price Crash Forum

rettah

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Everything posted by rettah

  1. Amazing all the conspiracy theories that people come up with to try to make this seem bad news. Just shows how you can make a bull/bear case depending on your viewpoint and come up with "facts" to support it. If it is santander then I would think this is highly positive as they seem to be one of the only switched on banks around. I find it amazing that people actually seem to want to see banks failing given all the pain this would bring to employees, savers etc.
  2. and then you lose it for every 1% interest rates go up to bring the inflation back to target.
  3. Those rates are pretty eye watering :7.99% + 1.5% arrangement fee on 75% LTV for a fixed rate.
  4. Friend selling a 2 bed in hertford accepted an offer last week only £2k less than ask and the same price as similar places sold for july/aug last year. The buyer had an agreed mortgage offer that was due to expire in a month so was desperate to buy. Pleased for my friend who is now going to rent for a year or two. There are still some mugs out there paying last years prices.
  5. Because the value of mining companies is based on the performance of the UK. The value of most commodities it being driven by countries with real economies. If you look at the long term graphs for many metals they are still actually very cheap due to a slump in the 80's.
  6. and how many mortgages were approved last month?........"slightly" less than 200,000.......oh dear, does not compute!!
  7. Hang on this can't be right as there's a shortage of property........Isn't there?
  8. and then he has this to say: So it is and isn't to do with over supply! Classic. We have exactly the same issue as the US - Lack of credit and will consequently have a similar housing crash........except we're starting to fall from much higher up.
  9. What a terrible looking place (External) although nicely done inside. Any idea how long it's been on the market? Looking on net houseprices there was one semi sold in may last year for £200,000 and one in feb this year for £155,000 in the same road. Assuming they did the loft conversion then I would think they must have spent £50k doing it up.
  10. It actually says in the article that she earns £100 a week! This is a crazy story on two levels - Crazy for the bank to lend this amount and crazy for them to even think about borrowing this amount, how were they ever going to pay it back? I find it really hard to feel pity for such people given how irresponsible they were and it is their actions that sustained the property bubble which meant that many people couldn't afford to put a roof over their heads. It gives you some idea of the mess we are in and how much this al has left to unwind.
  11. Good point, must be an "up and coming area". Where's me cheque book!
  12. 5% return in a falling market. Bargain.
  13. And max LTV on these of 85%. Have a look at the self cert rates for a bit of a laugh around 8% and 80% LTV.
  14. I go past this on the train quite often. When the first block was built and the old pump house refurbished it didn't look too bad - nice views up to ally pally. Now more and more blocks have been built and are being built it is starting to look like a 1970's council housing estate. £250,000 for a one bed there is a joke, expect these to be half this in a years time.
  15. As this is asking price compared with the haliwide index which is agreed prices i think it shows the denial people are still in with regard to how much their houses are actually worth. People still seem to be listing at last years prices. time to wake up and smell the coffee.
  16. They are for serviced apartments. Normal rate seems to be £800-950 pcm. (Obviously agents fees to take off of these figures to reach what the landlord gets)
  17. The butcher said that it "always lets". Anyone know how much it lets for? I'm guessing to get a reasonable rate of return on his £197,000 they probably let for around £1500 a month. Is that about right? (Or do I need to knock the 1 off)
  18. So there is quite a lag - back to last year in fact!
  19. Looking at the figures there has been a much larger drop in the number of smaller properties being sold than larger. The higher selling prices seem to be keeping the average price up.
  20. Strange.....I had exactly the same thing in Abbey the other day: A: "do you have a mortgage?" Me: "No" A: "Do you rent?" Me: "No" A: "Oh..." End of conversation.
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