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rettah

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Posts posted by rettah

  1. I grew up in Stotfold which was a village on the herts/beds border and is now more of a small town. There was an old psychiatric hospital up the road called fairfield which as kids we use to call the loony bin. Over the last 2 years this has been redeveloped with the main hospital building being converted into flats (executive apartments :lol: ) and hundreds of houses being built on the grounds. The development has been done quite well but at the end of the day it is just a big housing estate with few amenities. From time to time I check on the prices and was amazed to see the below properties for sale at these asking prices:

    This one is on sale for £730,000

    http://www.rightmove.co.uk/viewdetails-204...=1&tr_t=buy

    http://www.rightmove.co.uk/viewdetails-173...=1&tr_t=buy

    Which is amazing as the highest selling price for a place in that road was £558,000 in sept 07 (Nethouseprices)

    Another property is on the market for £659.995

    http://www.rightmove.co.uk/viewdetails-204...=1&tr_t=buy

    This property sold for £570,000 in june 07 - scroll down on the below link:

    http://www.nethouseprices.com/index.php?co...&incode=4FW

    How these people think they are going to get this amount is beyond me especially as you can still buy a brand new similar 5 bed house for £589,996

    http://www.rightmove.co.uk/viewdetails-173...=1&tr_t=buy

    So it seems to me that things have come full circle and once again the lunatics have taken over the asylum! :lol::lol::lol:

  2. Max lending criteria:

    For self cert:

    As a rough guide multipliers of 3.25 x primary income + 1 x secondary income or 2.75 x joint income can be used to estimate the maximum lending.

    For sub prime:

    As a rough guide multipliers of 3.5 x primary income + 1 x secondary income or 3 x joint income can be used to estimate the maximum lending.

    Over and out......

  3. This is another case of "it's my pension". Unfortunately the EA's are saying the price is going up. They have also MEW'd it to get the deposit on the place they now live in - Which is also still "going up in value".

    In terms of pensions I realy can't understand why anyone especially a higher rate tax payer wouldn't have a pension as you are effectively getting 20-40% of free money.

  4. Was talking to a friend of mine who owns a place in the midlands that he lets out. He told me that he was getting £650 a month for it........but only sees £575 after the agents fees. I guess when looking at the foolishness of some BTL "investments" taking the headline letting income is not sufficient and the likely returns are somewhat less than this.

    Oh and buy the way his mortgage payments are £750 a month! But he's had it valued recently and the price is going up so it's OK.

  5. "A well-placed property source has told the Evening Times one investor bought 40 flats at Kingston Quay, pocketing up to £200,000 - £5000 cashback from every property - from builders Barratt.

    It's claimed the investor has since failed to pay a penny to factors or mortgage lenders." Really? :huh::huh:

    40 flats? What size loss is this "wise investor" sitting on?! :lol::lol:

  6. Reading the 4homes website on this property is a great laugh. I love this closing paragraph:

    "The boys were pushed over budget by £40,000, which of course is no small sum of money. Fortunately for them, the only thing rising faster than their budget is the local housing market. The estate agents loved this home and valued it at a top price of £575,000, but this didn't stop these shrewd businessmen rejecting a bid at this upper valuation. With prices in Greenwich set to maintain their recent explosion, there's no reason why Darryl and Peter should rush to sell"

    Shrewd indeed. LOL!!! :lol::lol::lol:

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