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House Price Crash Forum


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About FDbuytoletinvestor

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    HPC Newbie
  1. Correct. Of course no Estate Agent would ever break the law. They are pariahs of virtue.
  2. Jonno The Estate Agent seems to be inventing offers as you know. You have every right to ask for proof of their offer to check it's existence. Offers are usually put in writing or at least confirmed in writing. Alternatively the Estate Agent may be too embarrassed to put your offer forwards. he'll tell you he has put it up of course. Don’t forget the same Estate Agent probably valued the property and assured the vendor he could achieve this price. Indeed if the market is slow he can not afford to lose properties, if he puts forward a low offer the vendor may well take offence and his busi
  3. As an old timer you guys are missing the point. Being offered 0% interest for 9 months was never offered until recently. Indeed to get a bank loan in the 1980's people simply went to see the bank manger, who you size you up and say "No." Credit Cards were in their infancy with 25% interest rates. Now the credit industry is so competitive which is great for the consumer not the banks. Yes there will always be fools who spend over their limits. However most frugal customers can borrow £10k at 0%, then simply balance transfer the sum after the deal expires to 3.9% elsewhere. The cheapest loan
  4. Your demographic points are interesting; however what about the huge rise in single households (up 30% since 1951), divorcees, etc. Furthermore we are producing 1.7 children per 2 adults which isn’t bad especially compared to Europe. Also the rise of divorce is creating an influx of “glue babies†I really love you lets prove it with a baby. Birth rates are edging up. IVF treatment becoming more affordable and popular might further increase birth rates. Not to mention the 157,000 immigrants arriving each year, vital for the economy. Finally I don’t think you can assume pensioners w
  5. I doubt this web site will change anything. Every time you buy a property your solicitor finds out what the current owner paid during conveyance . The information is also held on the land registry. The site is just old info with better marketing.
  6. Okay this chap does seem extremely irritating many friends of mine were given 50k – 100k to buy property in their twenties. It’s an absolute kick in the jollies, even though you are supposed to be happy for them. Although one spent the money on a sports car which he promptly wrote off, try explaining that to father. However, how long do you think it will take for prices to double? 10 years, 15, 20 or never? If he can hang on during “the crash†he could sell in the next boom. Acknowledge to point about having nowhere to live and not being able to downsize. However at his age he can w
  7. Yogi Could you rephrase the point. I am not beeing difficult although maybe a little slow! How or what do you mean. Again don't take ot the wrong way Yogi I'm sure there is a good point there I just can't get your drift.
  8. Yogi This is a first time buyer guide not for BTL, of course it is a terrible BTL investment. The point I was making: FTB's can afford to buy. Someone asked how the property would work as a BTL as I demonstrated. Aside sorry to let off steam. Tagents galore on this tread.
  9. DTMark: a brilliant post. I'd love a four bedroom 2 reception mansion block flat in St Johns Wood, with a roof terrace of course. With the old London feel you know with a porter, but not just a regular porter one of guys with hats that calls you sir. And in a really beautiful building "sirocco" fronted preferably. Problem is I can't afford it so I work hard and hope to achieve the goal. It is seems unfair that regular Joe's can't buy property in Hammersmith but it's not a God given right. Indeed London has such a huge demand from all over the world prices are driven up beyond the means of its
  10. Why are you all so determined not to have a mortgage? It is not a dirty word. Of course you have to pay the money back with interest but that’s how the economy works. Having a property owned outright with no mortgage is, in my opinion, a complete waste of working capital. You have to repay the money at just 5% and don’t forget can pay the full loan off at any time. Anyone can make a lump cash sum of say £50,000 earn more than 5% interest, surely? Even if you buy 500,000 cans of coke and flog them in Hyde Park in summer. Re mortgaging to buy cars etc is of course foolhardy. However with
  11. I have just read a good article entitled “Self Fulfilling Prophesy.†Basically states the following: House prices over valued in terms of PI and inflation Mortgage payment very low most FTB’s and other punters able to afford payments, however deposit the major obstacle. Parents Grandparents Guardians of FTB still convinced owning property is the long term way forward; long term there will be another boom someday. Said elders have such outrageous equity they can afford to re mortgage or even gift a deposit to youngsters. Indeed Capital Gains Tax makes gifting money early a good polic
  12. You all seem to be assuming the Kentish Town / Highbury flat is a dump! Kentish Town and Highbury are nice places to live, near Islington and Hampstead repectiviely and on good tube links. I use them as an example because they are areas where FTB might start off before moving to Angel or Hampstead. NOT hell on earth you can buy 1 bed flats for £150,000 in such areas Hackney, Shadewll etc. £200,000 will not just buy a dump but a nice one bedroom property close to tube etc. Buy a house 3 bedroom house out of town for the money? Okay that's your decision but I think your struggle even 4 yea
  13. Oracle Very true. Your market analysis will keep the rental market boyant hence prices stable as buy to let investors pile in. I don't want to argue with you so don't get nasty.
  14. I have noticed something else quite amusing about this site. There seems to be a huge movement for not living beyond ones means by living off your equity, buying Audi TT's, plasma screens, etc. Indeed members seem very keen on lecturing how not to spend money on credit as it costs far more in the long run. At the same time the same people heap criticism on landlords and pray they go bankrupt. Don’t they realise experienced landlords are the tightest buggers on the planet! Most of the landlords I know with decent experience would rather bite off their own arm than pay an Estate Agent to
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