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About djw

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    HPC Newbie
  1. Have had similar experience. As a tactic it must work more often than not as it risks putting genuine buyers off, but if they get away with it they get a quick sale at an inflated price. It’s a grubby business.
  2. djw


    Yes, the Bladon Park development seems a bit implausible. Could be same thing as Montpelier. No developer loans to pay back so sit tight and hope market turns in their favour. You would think if borrowed money involved the prices would have to fall to get the units sold. As it is over £5million of houses are sitting empty... shows how much cash some of these players have to indulge in such folly.
  3. Great. Another Porsche Cayenne clogging up the m&s car park. Blood sucking lawyers...
  4. I think the volume of sales in this category is worth remembering. Only small numbers are actually completing and there are many large detached homes that have been on the market for over a year, some of which are now decreasing in asking price. The buyers for those that do complete are likely to have fairly atypical circumstances (i.e. large cash/asset piles). I for one would fear a highly leveraged position on a trophy house in belfast, mostly because of interest rate exposure but also as the prospect of capital gain is in my view minimal. On the other hand if I had a million quid in cash/stocks/gold I might be inclined to convert some or all of it to something tangible and useful. Would be a nice problem to have!
  5. I think you're right. Probably a lot of buyers who have been waiting since 2007. Makes it easy for EAs to sell when so little supply in these areas and general consensus is crash over, come on in the waters lovely.... Think ill wait for a while yet. I'm still net bear.
  6. An epic post. Thanks for your time. The rising interest rates and inflation scenario makes sense to me, yet learned (?) types eg hugh hendry, make equally strong arguments for deflation - I suppose thats what makes life interesting. It all seems too complicated to me, think I'll stick with Betfair for my investing, up 32% so far this year. And all from watching lots of sport on tv!
  7. "Inaction now when prices are low and opportunities are excellent is worse than action when prices where (sic) high, if you buy housing stock it may help offset any wrong decisions made earlier and displace your investment housing average." Surely this should have a warning. Something along the lines of, "this is the worst advice imaginable" Amazing to report this without a counter-argument, there are some dim people out there who may believe this. Con men.
  8. Sounds to me like you need a house mate. If I were you I would rent for 6-12 months then consider buying with the luxury of being a cash buyer in a falling market. Mind you, sounds like you have made some pretty canny decisions yourself so far. I should be asking you for advice! (I have large mortgage after buying in 06 to avoid "missing boat")
  9. I must confess I waste considerable time thinking about this. It would be interesting to hear some opinions. I would sell at 2005/rateable value. My thinking is, 1. I expect falls of another 20-50% (wide range I realise) this year and then minimal growth for around 5 years 2. I dont use my house as working mostly overseas for next 15 months but do need a place in belfast for weekends/"holidays" On the other hand, 1. Other assets have sucked this year too eg FTSE, commodities, 2. Bank savings rates poor v inflation thats before any black swans swoop in amongst the pigeons... Anyone else thinking of bailing out?
  10. The series is good, but like "the war of the world" the book is much better. He churns out some good stuff, I can't believe I get enthused by the latest work from an economic historian. Amazing how your life changes!
  11. those who wish to fix might consider cheltenham and gloucseter, 4.99 til 2019 then svr. I think this is reasonable over that timescale. LTV 60% though, but shouldn't be a prob to you canny STRers!!
  12. 90% is all well and good but the multiple is not generous, 3.5x salary. Won't go very far for most people at minute.
  13. djw

    Remortgage Woe

    Yes, Have been shuddering myself a fair bit recently. Our income dropped quite a bit this year, temporarily, as i am taking time out until mid 09, prior to july we would have easily met their criteria but I suspect they were looking for a reason not to give us such a cheap product. Will have to make do with the nationwides SVR (4.69).
  14. Just thought I'd share my experience with remortgaging. I knew it would be difficult to get a decent rate when our base rate - 0.18% tracker expired in december, but was amazed at the poor deals my broker came up with. Nowhere near as good as I could get myself. The pick of the bunch was first direct lifetime tracker which was base rate +0.49%. They agreed in principle over the phone so got the application in ASAP, meanwhile base rate cut occcured and i expected the product would be pulled. Chap phoned today and said he couldn't approve the loan as we wanted more than 2.75x combined income (we need 3.6x). I can't say I was surprised, product was too good to be true (low fees as well as excellent rate) and didn't think they would honour the rate following the cut in base rate but guy siad they would have as we applied prior to the cut (Will never know for sure). Damn them and their (NEW FOUND) responsible lending practices!!
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