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Everything posted by pete.hpc

  1. None of this makes sense, as has been suggested. 7 kids FFS???? what is wrong with people? are we supposed to have sympathy for them? She doesn't have the smile of someone close to starvation. The smart glasses and haircut also don't quite lend themselves to her claims of poverty. WTF???
  2. How are these figures calculated? For example, the house I'm buying last changed hands 8 years ago. How would my house figure in these calculations in terms of whether it's gone up or down? or is it done by adding all the sale prices up and dividing by number of units
  3. mod edit - unnecessary remark removed http://www.express.co.uk/posts/view/252047
  4. Are hypothetical scenarios that may never happen really worth tolerating all the downsides of renting? You can't live your life in fear, there are ways to deal with wayne and waynetta if it ever comes to it.
  5. Can you even get a written agreement in principle? My Estate Agent never needed one, tell them to sod off.
  6. Sheesh, some of you will never own houses being this fussy.
  7. I love how every excited and increasingly desperate change in the description is followed soon after by a drop in asking price. Every time.
  8. And we're not allowed to put up our own log cabins??
  9. Oh ye old wise one, we thank you for this nugget of eternal wisdom
  10. It's great to see some of the old classics trotted out in that thread; Also, interesting chat about rich people and their cars. I was in one of the wealthiest areas of the country yesterday, the Wentworth Estate. Truly astonishing houses, most with one thing in common; very, very average cars on the drive. Most lavish I saw was a newish Range Rover and a Jag. No Ferraris, Lambos, Bentleys. True class obviously doesn't feel the need to squeal in everyone's face about how rich it is.
  11. Credit scored, all paperwork checked by underwriter, application and valuation fees paid, offer due next week if survey goes well. You're quite right, AIP is no longer worth the paper it's written on, there are lengthy, stringent checks now on all applications via underwriters. There is noticeable tension now from Estate Agents when you're in the no-mans land between AIP and formal offer. They must be seeing the bulk of purchases fail at this stage I would imagine.
  12. Indeed, a call to arms Comrade! People need to get out there and drive down prices, there are plenty of mortgages available. We will have long, slow grinding falls masked mainly by inflation. It might be time for a lot of people, particularly FTBers, to get out there and start insulting sellers. There is no boat to be missed, but you'd be foolish not to be trying to take advantage of an absolutely dead market.
  13. Dude you've got 200 grand in the bank, you're richer than most of the country
  14. IMO, anyway I've had absolutely no problem getting approved via two lenders including going via the underwriters for full applications on 90% mortgages as a FTB. I'm a very straightforward case, granted. No financial problems, no debts, decent salary, decent job history, above average credit score, all addresses check out. I only asked for 3 times salary, but was offered 4 times. So my conclusion is; there is no mortgage crunch. Banks are simply lending at sensible levels now on sensible criteria. Iffy credit history? forget it. Big debts? forget it. Asking for too high a salary multiple? forget it. So don't listen to people saying that banks should be lending more, or that they are demanding massive deposits. It's simply not true, lending criteria is at historically normal levels. It's just that most of the people who were being approved pre-2007 who aren't now were simply not eligible in a normal lending environment, or have BTL business plans that don't stand up to scrutiny. We are obviously a nation of spivs and debt addicts, and these people are finding out the banks do not trust them anymore. If you are a FTBer; Get out there, make offers at 3 times your salary + 10% deposit, and drive prices down yourselves. Don't sit by waiting for them to fall. We are in a HPC as we speak, and sellers will begin to see this en masse over the coming years.
  15. I've been hearing the same stuff on here for years. I don't dispute the fact we may see further nominal falls in prices, but to buy a house on a 90% mortgage today is not the worst thing in the world you could do for a variety of reasons.
  16. Why are people still perpetuating the myth that FTBers require huge deposits and there aren't many mortgages for them? There are lots of 90% products currently available, even a couple of 95%'s. I rather think it's the stricter credit scoring requirements that are the problem in a lot of these cases.
  17. Can't be bothered to read all of that crap, it's ridiculously long, and seems to just be an advert for his book. But I couldn't think of anything worse than moving from a bustling, vibrant city like Brighton to live on a farm with your missus and kids. I give him a year before he's swinging from a beam in the barn. Spectacularly well timed actually, Stewart Lee covered this exact topic of city types moving to the country on his "Comedy Vehicle" show this week. "Oh there's the horse. He was over there yesterday."
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