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2buyornot2buy

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Everything posted by 2buyornot2buy

  1. They were on 40k 18 years ago. They've all moved on many times now. The vast majority away from Belfast. They'll be on multiples of 60k now. I'd would have thought 60k is pretty low for someone programming now.
  2. Granted. I mean us 60k a lot for a programmer. I know friends who would have been on 40k nearly 20 years ago in the likes on Andor, NYSE etc.
  3. I think the last few pages of this thread highlights the fact we don't really know what's happening. It's all change at the minute. Look at the 30 year USA mortgage rates now. 5.54% from 2% in 12 months. Transactions are going to fall off a cliff IMO over the next 6 months. Anecdotally I know a couple of people who moved back to the sticks from London. All good, but they now have to work 2 days in the office. An extra 400 a week on flights and hotels.
  4. Must offer that advice to the people in NI who bought in 2006/2007. 16 years later, still in negative equity and living in a 2 bed with 3 kids. It'll get better within the next 8 years folks...
  5. Bought at 868 on 2/2/21. I'm happy enough I have to say.
  6. Took your tip 18 months ago on NG and filled SSISA.
  7. It really depends. There will be massive regional differences. Take here in NI. It's significantly cheaper to rent a "big" house in Belfast than buy it.
  8. I think we're going to be looking at stagnant prices and a big reduction in volume for the next 12 months while people adopt a wait and see approach. Winter will be a write-off for the EAs this year.
  9. Completely agree with this. I think it also applies to the middle class.
  10. We'll have to wait and see. It's actually 6 increases in base rate, with another probably coming in 6 weeks. The BOE are calling a recession and unemployment pretty much doubling. What effect this will have on supply, I've no idea but I don't see any upsides for house prices.
  11. Yep, best advice if buy a new car. Take the PCP for the discounts and pay it off.
  12. PCP is around 5-7% now. I know this because I was dragged to all the main dealers recently to get a new car for my parents. 6.9% seems to be what they are going for with a few (kia, hyundai) offering 4.9% on their harder to shift models.
  13. Car PCP rates are up 40% too. That's gonna suck when they look to trade in the Range Rover for the new model.
  14. Including HTB they're probably looking at another £600 a month based on current fixes available.
  15. Exactly. It's the direction of travel that going to affect sentiment. If I take a large mortgage out now and fix for 2 years, am I going to be paying 500 more a month in 24 months. Millions will have been used to 2 year fix and repeat for the last 10 years.
  16. From a HPI point of view I'm fine with that. Every .25% rise is something like £27 a month on the average mortgage. A few of those and the lifting of the energy price cap will have significant effects on those coming out of fixes taken out a few year's ago. Several hundred a month needed to be found. It's shattering the notion that ultra low rates are the new normal.
  17. Wage inflation is never going to match inflation of 15-20%. Not a chance. Wage inflation is currently running at 4%.
  18. Bought in 2013 or 14, can't even remember. Sold during the last lockdown. Bought my house (in Northern Ireland) after about a 70% fall. Sold for more than twice what I paid. Inherited a big old Victorian house I'm currently refurbishing but I'm not sure I'll stay here longterm. Mortgage free and probably wiped 10 years+ off retirement.
  19. 1.75% in the current climate isn't too bad though. OK, when inflation is high like now you're probably looking at a 0.20% increase in interest over year 6 but try getting a remortgage at 1.95%. For the next couple of years they be better not paying down the equity and sticking money (if they have it) in a savings account paying 3%+.
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