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miko

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Everything posted by miko

  1. No Nationwide are not in trouble . They are just very very clever in seeing that prices are going to drop and therefour do not want repossions with negative equity on their books. They are one of the very few lenders who never got involved with buy to let , and i would bet have not bought worthless siv investments . Theyare are also less reliant on the money markets for their lending getting more of their money from savers . What you are seeing is a lender who never went off the path of sensible lending and are now taking appropriate action in view of current conditions.
  2. I bought a new 2 bedroom flat in Barking east London in 1986 for £34,500 by 1988 these flats were selling for £67-68000, I sold for £50,000 in 1991 and moved to Grays Essex in 1995 while looking in the local paper for Barking I saw the same flats for £35,000 . In Grays small studio flats sold in the boom for £48,000 resold for £12,000 in the mid ninties. I also purchased a flat in Surry Keys Docklands in 1993 for £50,000 ,The original buyer had paid £150,000 in 1988
  3. I bought a new 2 bedroom flat in Barking east London in 1986 for £34,500 by 1988 these flats were selling for £67-68000, I sold for £50,000 in 1991 and moved to Grays Essex in 1995 while looking in the local paper for Barking I saw the same flats for £35,000 . In Grays small studio flats sold in the boom for £48,000 resold for £12,000 in the mid ninties. I also purchased a flat in Surry Keys Docklands in 1993 for £50,000,The original buyer had paid £150,000 in 1988
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