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House Price Crash Forum


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About nigooner

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  1. Quite the u-turn in advice from Saturday, from walking away to now entering into contract.
  2. Yes, you’ll probably have to explain your plans to the agent/vendor to let them understand that you’re not planning on submitting an unrealistic application. If the planning app is realistic and you can support it with reports and feedback from architects etc, then they might be happy to give you time to go for it. You can exchange contracts on that basis, so they have the sale secured, and you have the site secured knowing that nobody else can nip in ahead of you while you’re going through planning.
  3. Can you get a deal done subject to planning? At least you can have a punt without the vendor selling it to someone else.
  4. I always thought gold was just bought on an index and you just get a certificate or whatever, didn’t realise you actually had to store the thing yourself!
  5. This was your own generalisation. Give me 6 acres in cultra for £100k any day thanks.
  6. you’ll not build a passive house for £70-80psf. I don’t think you’ll build a standard house at £80psf anymore, the cost of certain building materials has sky rocketed in the last year or two. Also add in a healthy budget for professional fees, developer costs (utilities, etc), landscaping, costs of finance- all the things that aren’t covered by the build cost (or a fixed price jct contract). You’ll save SDLT buying the site on a self build mortgage and then remortgaging when built. If you’re getting the current owner to build it and then buy it off him, you’ll be paying full SDLT.
  7. Yes, absolutely mental. I know of a mortgage being offered at 1.39%, repayment, fixed 5yrs. As long as the banks are lending at that, the market will keep bubbling.
  8. Well only see the real impact on the housing market 6-12months after furlough ends. I can’t believe my eyes when I see the graphs of house price inflation...during a pandemic...when the government are supporting a big chunk of the workforce. That people, other than civil servants/teachers etc, would chose now to sign up to a mortgage blows my mind. Government spending will stop this year, and then the bubble will burst soon after.
  9. Good to know that, thanks. Feel sorry for any self employed that don’t qualify fir any grants or support, or who can’t even get access to bounce back loans or CBILS loans. It seems a complete lottery, with the biggest being who you originally banked with before covid existed. Most banks now aren’t even allowing new customers to open an account which is ridiculous.
  10. Are there stats out for the average amount given out on the self employed income support scheme? I’d be surprised if the average given out was so close to the maximum allowed.
  11. If you’re going down the self build route, I’d recommend employing a quantity surveyor to act for you as an employers agent and construction manager, handling all the paperwork with local authorities and contracts/tendering with sub contractors. Theoretically they should be saving you substantially more money than you pay them (and take away a lot of the hassle and risk).
  12. “traditional brick is better, timberframe is a pain as the inside walls will be full of dents in no time” This is a ludicrous statement. Walls inside a timber frame house are plaster boarded the same as any stud wall in a brick house. Depending on the quality of the plaster board, the walls can be incredibly durable. I’ve lived in a timber frame house for years and haven’t had a single ‘dent’. If you’ve bought a new build house in the last 5 years, it’s probably a timber frame and the buyers probably don’t even know. If your timber frame house is ‘full of dents in no time’ then it’s proba
  13. Forum has been very quiet recently, presumably because everyone is out buying houses before the SDLT reduction ends... The public seem like lemmings voluntarily walking over the edge of the economic cliff
  14. See furlough, in some shape or form, is to be extended until March 2021...
  15. I see the price has been corrected to £4,200 pcm
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