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House Price Crash Forum


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About zag2me

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  1. Isn't inflation expected to drop? and with it the risk of higher interest rates? I just got a letter through my door saying the energy company is cutting my bill was absolutely shocked and amazed!
  2. I can only repeat my own example that getting the train and tube is far quicker and cheaper, it hasn't stopped me. Network rail card is awesome, 1 third off all off peak fairs. And don't even get me onto the oyster card, its just pure genius not having to pay cash any more and my 80p bus rides. The guy should be given a medal for having the balls to do something.
  3. - Never heard of anyone with a 6x mortgage, seems like a myth to me or one of those "you need 50k deposit and earn 100k a year" to qualify. 4.25% seems the norm these days(see nationwide thread) - 52 year mortgages, again total myth, heard on 5 live that virtually none of them have ever been approved and again you need a massive deposit to qualify - 10 year fixed, exellent idea for any first time buyer so they dont get into trouble if rates rise - Interest only loans serve a purpose for a ftb who has a higher earning potential in the future, I.E. just about everyone - Shared equity is an e
  4. Already been said above but worth repeating that the Bank of England don't have a remit to control house prices, its normal inflation they are worried about, and that's going down.
  5. I though the congestion charge was a massive success? I have not driven into London in over a year, just take the train now with a network rail card, its far cheaper, quicker and more convenient. I used to drive into London at least once a month.
  6. 4.25 seems fine to me with low interest rates and fixed deals. Its just a fact of life the lending criteria will become more lax as house prices increase and will continue to do so.
  7. It sounded very balanced to me, Mayo was describing all the downsides of 40 year mortgages, and they freely admitted hardly anyone was taking out this kind of mortgage yet in the UK. What you have to remember is that the 25 year mortgage in this country is standard, but in other countries it can be much more. I expect to see more people taking out longer mortgages, simply because younger people are buying houses these days.
  8. I think road pricing is a great idea, I don't need to drive, I just choose to because I am lazy. If it costed me more money, I would cycle or move house. Simple as, we have to stop destroying our countries environment. Something needs to be done.
  9. As I have consistantly said, mortgage lending is the biggest indication of future house price rises. Just look at Spline's graphs, they show it in perfect corrolation House prices will rise in the next 6 months!
  10. And wasn't it expected to raise last month? Yet they held it?
  11. As a single bloke I can get 130k mortgage on 31k income. Its not to bad, but I would like more especially as I want to rent rooms to lodgers. I hope they loosen it some more
  12. Your mad! 200k for a property, with a 60k deposit so 140k mortgage. £900pm or 700 interest only @ 6% mortgage so thats a £50 saving each month you are making for renting. You do realise your rent will go up in the future right? and your landlord can kick you out any time he wants? Why don't you just buy? I know its not always this simple, but the numbers add up.
  13. The reason you would buy would be to share the wealth that is being created from prices rising at an incredible rate in northern Ireland. Just to put that in context, if you bought a 200k house at the start of last year, you would now have 40k of equity, which is tax free! That's why you would buy. Beleive me I live in one of the most expensive areas and I thought 4 years ago house prices where ridiculous and couldn't rise any more and look what happened. N.I. is just catching up and still has a while to go yet.
  14. More shared ownership... House price crash delayed another 10 years!
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