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House Price Crash Forum


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About jantostores

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    HPC Newbie
  1. A friend has recently purchased a 3 bed terraced property in a quiet suburb in Stafford. The house cost £168,000 and he placed £30,000 down as the deposit. I asked him (cheeky bugger) just how much his monthly repayments were and he said " only £800 a month". I said thats low and he said yes but we took out a 28 year mortgage; he is currently 44 years old. He had no need to purchase and yet still jumped due to the media hysteria that is engulfing the headlines. Oh well.
  2. Sky News are certainly doing their bit to increase awareness of this headline. The deaths of our brave soldiers receive minimal time on the 'breaking news' ticker tape yet the Nationwide headline has been whizzing past for 45 minutes now. Sad, sad, sad.
  3. Prospective sellers are merely speculating with a price increase to combat/stave off negative equity. With unemployment rising and hyperinflation on the horizon there is only one way to go. On the other hand, if it was house SALES on increased prices that was the statistic then I'd be worried.
  4. As much as I don't like what he has done there is no need attack him in a racist manner.
  5. In the town of Stafford, there have been a couple of EA's went down the pan or under the Name of someone else. When I first arrived in Satffodr last year the EA's were soo smug towards my opinion of HPC. Now I'm smug as they sit in their offices with the lights off and no customers......MMWWwwahahahaha
  6. Asking if I could find another £20,000 says to me that they expect prices to fall futher and that they cover their debt deficit. Thats assuming that I save with inflation in mind and hope to reach the target.....but I get what your saying.
  7. Thats fantastic news for you. On the other hand I went for mortgage advice at my local HBOS and was stunned with the outcome. FTB earning £30K+, £20000 deposit on a £110,000 property and was told I had to start on the lowest level of borrowing at 7.19%. She then informed me if I had another £20,000 I would get a 5.64% rate instead. It looks like its back to the saving (oops poor savings rates) and dig in again for another 5 years until I can reach the level they require. Beans and toast tonight again.
  8. I have always been slightly confused about the interest rate reducing while the £ is so weak against other currencies. Surely if they (government) agressively cut the rate to say 0.5% doesn't that leave us in an even more precarious situation? That IMHO would leave absolutely no room for manoeuvring!!!
  9. Very interesting indeed. I use RM all the time but perhaps a bit more competition and it may go to the wall.
  10. I am concerned for my parents with this one. My father has a reasonable amount (£40 000) tied up in Norwich Union Bonds. Should HE be concerned?? Help!!
  11. I went into my local HBOS at the start of the week to enquire about my ISA's perfomance and other related products. I was then asked "Do you know you still have a Mortgage offer outsatnding with us" I replied yes and asked if it was still extant. She did some number crunching for me and offered me 5 x my ann salary. I said "isn't that why we are in this current predicament" to which there was no rhetort. :angry: Do they never learn. Oh and I'm still getting offers from Alliance and Leicester for loans.
  12. What is interesting was Gordon Brown's comment just now from Brussels that "There must be a warning indicator in place for the future". IMF informed the UK Treasury in 2004 that they could not continue with their current financial policies or they would suffer greatly. Sounds like a reasonable warning to me!!!!
  13. Economics are not the strongest part of my make up but how on earth will I profit as a tax payer following the £2000 contribution on Bank Bail Out? Laymans terms please.
  14. Would someone kindly explain to me how I will benefit as a tax payer contributing this £2000 in the Bank Bail Out??? I rent, have £27000 in NS&I, would like to buy but cant get a mortgage. I have a good credit history but there is no mortgages at this moment in time that I can afford despite an annual salary of £30K+ and no debt!!! How, where do I stand to benefit from all this.
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