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House Price Crash Forum

DownsizingDiva

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Everything posted by DownsizingDiva

  1. I had a letter from the Nationwide complaints dept. saying basically they would give me £50 as a "gesture of goodwill". I wrote back and said "No thanks, I'd like the £1035 please". Heard nothing since, so have written a final letter to the department the complaints department (bear with me) said I could contact if I wasn't happy with their offer. I have advised them that if I don't receive the refund within 14 days I'll go via the Financial Ombudsman. I'm not giving up on this one yet!
  2. Thanks for the advice - you seem to be very clued-up on these matters - have you been through the process yourself?
  3. quick update: Wrote to their Complaints Department a month ago. Haven't had a reply. Have taken legal advice, and now going to write to the CEO, giving them 14 days to reply. If I still don't get a reply I will be taking it further via the Financial Ombudsman.
  4. Thanks Tim - I'm going to contact their Head Office tomorrow.
  5. Hope someone on here can give me a little advice. Late last year, I took out a mortgage with the Nationwide. During the initial interview with their "Mortgage Consultant" I was told that "If you choose this product, we pay your legal fees." I then asked "what exactly does that cover then?" and he replied "All you have to pay is the Stamp Duty and the extra cost of having a Homebuyers Survey as opposed to a basic mortgage valuation" I had to use their nominated Solicitors in order to get the deal, and the Solicitors asked for a £300 up front payment, which I duly paid, thinking Nationwi
  6. The A**e hasn't fallen out of the bottom end of the market where I am - prices are holding very steady, unfortunately. It is the old "supply and demand" economics at play - very few folks are putting houses up for sale in a desirable area (i.e. commutable to London, good schools, nice coast/countryside, good jobs still available) so those that do go on the market are very sought-after and are commanding prices way in excess of 2007 prices. Sad, but VERY true.
  7. Many economists are now suggesting that there will be no significant rise in interest rates until 2014 at the earliest. When I sold up in 2008 (through circumstance, not choice), I wasn't too worried about renting for a while. Had a sizeable chunk of equity (over £150K) to invest. I figured that the interest on that would more than cover rental payments, whilst I waited for property prices to fall to a more realistic level. Having "sat it out" now for nearly 3 years, and having paid out a HUGE amount in rental payments, and seen my equity eroded by savings rates of around 3-4% (albeit tax
  8. Just tuned in for a bit of Corrie - and heard the conversation between two characters (you'll have to forgive me here, not a regular viewer): Female character: (whose landlord has offered her first refusal to buy house she's renting): "I just don't think I can afford it" Male character: something along the lines of "well, don't get too despondent - house prices are coming down y'know".... Must be a few million viewers of this programme - obviously the Producer hasn't got a BTL empire!
  9. You are right, of course. Shame really. If only everyone could put a sensible value on their home and advertise it in the right place, AND be reasonable enough to deal with directly. So there remains a place in society for Estate Agents. Depressing, isn't it?
  10. I do hope so. It is about time that Rightmove dropped it's restrictive practice of only allowing EAs to advertise on there. Let the general public place adverts for their homes. Placing a value on a property is not rocket science. A house next door to my aunt (200 miles away) has just come onto the market. She asked me to guess what the asking price was. After giving me full details of the internal spec., I did a bit of research on the internet (took about half an hour) and came up with £225,000. Turns out the EA asking price is £220,000. I rest my case.
  11. Er... don't they already do that? Surely that's how they make their money???
  12. Don't know where you are, but in my area (Winchester area) any offer less than 10% of asking gets laughed at. (And properties being snapped up at full asking - so frustrating!)
  13. Unfortunately I do not think we are "entering the crash stage". So many on here have been predicting it for so long, but it just hasn't happened. It won't happen. Why? Because TPTB have too much invested in property. That's why. Also:- Interest rates won't rise this side of Christmas. Rates can't rise significantly for 2-3 years (the result of a major hike would be catastrophic) Supply (in the "desirable" areas) is being held back because folks are reluctant to gamble on moving. Where demand is greater than supply, prices will hold up The MSM are so heavily on the side of "House p
  14. Estate Agent who showed me round a house on Saturday said his office were selling one a day last month!!! (I checked on RM - it was, of course, pure bull).
  15. I feel for you! I am in exactly the same position. There are a couple of "decent" Estate Agents in Winchester, who will tell vendors the truth, but they are outnumbered by the greedy, ignorant hair-gel breed I'm afraid.
  16. Trouble is, we are in a "discount culture" and that's why EAs value properties high - because everyone now expects things to be reduced.
  17. Why is it that Estate Agents can get away with gross malpractice? In most "professions" there is regulation. Ah, I have answered my own question. They are not a profession. They are a bunch of lying, deceitful, jumped up, ill-educated parasites. A generation ago, all Estate Agents would have had at least one qualified Surveyor on their staff (i.e. an RICS qualified Surveyor). Now it seems that all you need is the ability to drive a Mini Cooper and a talent for talking out of your ar$e, and you're made. I give up. Having worked hard, never racked up any debt (other than a £30K mortgag
  18. I think a lot of it is the attitude of Estate Agents. I viewed 2 houses (on with the same agent) yesterday. Both were purchased by the current owners between 2006 and early 2008 (i.e. peak), for £200,000 and £215,000 respectively. They are both now priced at 10% above those prices (I checked to see if any improvements had been carried out since and both were a "no"), and when I questioned this with the Estate Agent, he got VERY stroppy. His retort was "There are lots of people out there who will realise what good value these houses represent - if you don't want them, then that's up to yo
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