pete.hpc
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Posts posted by pete.hpc
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How come this stuff has only started appearing now?
Populist, reactionary crap.
If he truly believe or understood any of what he said he would've had the balls to say it in 2007 like the rest of us.
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cameron's a chinless wonder.let's hope it's the end.and then let's hope they find someone with a pair of boll*cks and a basic understanding of life and the economy.looking at the potential replacements.we're fecked.
Here ya go mate, I've got some spare spaces and capitals for you " ", " ", " ", " ", " ", ABCDEFGHIJKLMNOPQRSTUVWXYZ
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it's like www.housepricecapitulation.co.uk in here these days.
It's great to have a range of differing opinions.
And finally the final kick in the nuts is are you putting money aside for a pension?
Is anyone putting money away for a pension these days?
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If you can find your dream house
Why should FTB'ers be expecting to be able to buy their 'dream house'?
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Maybe you should think a little harder.
No, I can see the point you are making, but you didn't answer my question.
Theoretically, banks could absorb increases in the bank rate up to 3% or so.
Thanks 'thejaksie' for that, perhaps another question is; What was the different + or - to the BofE base rates during those periods.
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If you can find your dream house where you want to live over the next 10 years + you can afford the repayments (with a fixed rate to avoid exposure to hike in rates), running costs, maintenance, etc, without assuming using your credit card and without being financially overstretched you are in a good position relative to most homeowners.
I personally wouldn't borrow more than 3x base, and on top would always hold some cash in reserve for a rainy day, but it sounds like you have made up your mind already and are looking for confirmation rather than advice.
The bigger question is whether you can find a house where you would want to live for the next 10 years within your budget? With current house prices I would be surprised
Well I found somewhere for 3x my salary but it is most definately NOT my dream house, it's just a small starter home with quite a bit of land that I like and could maybe extend one day. It's also commutable to London and 10 minutes from my current job. And I do not want to wait and wait and wait and wait whilst agreeing with everyone on here and continually expecting the market to crash, but missing out on another years mortgage repayment and being shunted from rental to rental.
I also saved my 10% deposit in 6 months because I enjoy spending money too much to even think about going without what I want for longer than that.
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well, they are 5% now, with rates at record lows.
that didn't answer my question did it.
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re-adjust to more historical levels ., say 7%.
Have average mortgage rates ever been 7% for a prolonged period?
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Why don't you see it as an opportunity? You're in your 20s FFS! Go and do something! "Owning your own home" is boring as ******!
I think he's in his 30's
Guitarman, appreciate your honesty. But do you think you are better than that 90 grand flat near some druggies? Have you thought about moving out a bit? Very few people can afford to initially live near where their parents now live. Most people have to move out for affordability and move back in eventually.
If you are saving 60% of your income then a 10% deposit on a nice place further out in the sticks from where you are really shouldn't be a big deal.
It's a good time out there to be looking, make cheeky offers, get a decision in principle from a lender, you might be surprised.
I live in the South East so the figures are different down here, but I'm in my 30's and moved home a couple of years ago after renting for 5 years. I saved a deposit and bought a 1 bed starter home on a mortgage that is 30% of my take home salary. No problems getting a mortgage at all, and there's a few other places on around here for what look like reasonably value.
Stop looking at semi-detached places like your friends may have who bought earlier and got lucky, they are still silly money.
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Also, it sounds like you've gambled away money on shares and lost.
Why not just stick a bit aside every month until you have a 10% deposit?
There is no need to speculate when saving for a deposit on your first home. Sounds like you took a risk and lost.
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I found out recently that a co-worker got his semi-detached for £60k almost 10 years ago (and is still paying it off). Same houses in the street now cost £195k. What a complete chump's game. Been at home 5 years already and sick of this situation. Plunge myself into unbelievable debt or stay at home (lucky I've got the option) (or of course, get out of here!). It's truly just unbelievable - housing should be around £60k NOW. I can't see the end, can't see the HPC... all I see are new schemes and money printing. Too big to fail. Utterly depressed about the entire situation - generations completely screwed over. It's treason.
Why would your first home be a semi-detached house?
How much are starter homes/flats in your area?
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I think the amazing thing about looking 14 years out and looking 14 years back and there really ain't much change.
Now where's your HPC spirit?
The Chinese will have invaded and a price of bread will be £20,000
I know where I'm going to be; rapidly approaching the end of my mortgage term
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What a great HPC thread, I think I'd rather die than eat some of the diets you lot inflict on yourselves.
I guess I should be grateful I'm still in work, single, and have 2000 a month discretionary spend once the mortgage and bills are done
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Quick turnaround!
Vaguely recall you having an offer accepted after mine, and yet I'm only just about to exchange. Completion not for another couple of weeks.
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let the prices tumble (deflate) or wait for a buyer for years and years and years.
How long did the seller of your house have to wait for a buyer?
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Not quite true.
Having some access to credit, using it, and paying it off every month is the best way to get a good credit rating.
Also, get your credit reports and make sure all details are correct, especially that you are on the electoral role at your current address.
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Lets hope your elderly parents don't get a knock on the door from a friendly trader with an Irish accent.
They'll tell him to go away?
Isn't that a tad racist for a lefty civil servant?
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Why is it always assumed that without the careful guiding hand of the state, anarchy will ensue?
This is just a whining piece from a department facing essential cuts, expect lots of similar alarmist pieces.
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Good points Erranta.
It's interesting that many on this site seem to be more interested in taking Mrs Smith's, School Dinner lady's pension than they are in challenging the real villians in this matter.
Ah I see, it's the school dinner lady we want kicking to death now is it?
Usually it's nurses or puppy dogs
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Even the teachers who are Tory in favour of a strike.
Of course they are, people don't have morals, just selfishness
Makes me laugh, the private sector kicking off because it has two ball and chains while the public sector has only one, so lets all fight to give everyone two ball and chains.
The government entered into an agreement with these people and now it wants to change the terms and conditons in favour of it's pals in banking and the multinationals.
We should all be on the streets telling them where they can put that.
The public sector gives good value for money, unlike power generation, elderly care ;see Southern Cross, water companies, public transport. Sell off everything and instead of competition you get cartels.
There's two completely random and appropriate examples
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MP for St Pancras and Holborn; Does anyone even live in those areas?
What on earth does he do all day?
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So the fact that the financial morons cooked up a second great depression shouldn't be seen as a mitigating factor when someone's employment or business prospects take turn for the worst? It's still down to them being reckless?
Tough crowd here on HPC.
Most of the people who were adversely affected....Not everyone lost their job, and of those that did, maybe more should've had the means to survive a few months without work, especially if you are responsible for 7 other people.
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Isn't the point here that she was affording her seven kids- until our bankster freinds took down the economy with their get rich quick scams?
Most of the people who were adversely affected by the bankers behaviour were living wrecklessly and on the brink if house prices didn't keep doubling every 10 years.
Venders Setting Prices
in House prices and the economy
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Are these homes a reasonable commute away from any jobs that make 100k look cheap?