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loopholes

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Everything posted by loopholes

  1. I applied for a mortgage a few weeks ago and the company were sure that the survey on my current property would be organised within a week, two weeks later, today, I recieved a phone appologising for the delay but they have been inundated over recent weeks. There words actually stated for mortgages too. Is the news simply a few weeks or months behind the times as this is totally against what I am being told day in day out. I am beginning to think the recent mortgage and bank senarios are fuelled by a mass of people wishing to oust the Labour party from office and willingly incresing the intensity of the recession. Am I bonkers, is Gordon Brown bonkers or are the banks bonkers? I guess in the current situation two out of three would be a good result, ;-)
  2. Well, thanks to all for the well intended words of wisdom Exactly why is it that one person wishing to move on in a bad market gets it in the neck simply because they are choosing to use their current property equity, one person, one property, not one person with 200 properties purely doing it to make profit and assisting to screw up the market even further. Its really those guys and the corrupt bankers the more aggressive forum members should really be targetting to vent their spleen at.
  3. Of course they are actively on the market if people are still insisting on viewing and offering what the vendor sees as silly money. As I was simply trying to state, if a seller has a board up and someone views, it must be on the market, its just that its NOT always the buyer that rules, not all sellers are desperate at all cost to sell. As well as some buyers feeling a little smug currently regarding what they feel they can get away with with an offer at this time, many vendors will have the exact same feeling knowing that they have something someone else wants, just not as desperate to sell as some buyers are to buy. Its just not such a one way street as many are claining.
  4. Yep, and I will pay you a penny for it, of course you will sell it to me
  5. Exactly, they are not taking the current low offers, exactly what I said, I never said that these properties were still selling, but hey, make up your own meanings Exactly as I said, the people that do not have to and those same people that have simply left them on the market, a very large number have not and will not alter their prices........... yep, it differs greatly from you own by the sounds of it, thats what forums are for, although some MAY think that they own it more than a newby. As an obviously very experienced forumer, surely one would realise, rather than trawling posts simply waiting for a chance to pounce, why not have your say on each, it aint big and it certainly aint clever, but obviously fuels the need for forum kudos. Yep, because of the market, not laziness, pretty simple really............ No doubt the "steam off your pi55" would actually be as biased as your opinions on a newby daring to ask questions that YOU deam unworthy, you keep it festerin ;-)
  6. Watched last weeks show, just thought it was a typical showing of current over aspirational trends TBH. Steph couldnt do with any imperfections on any wall surface even in an older property, shame, no wonder botox has taken off so well! How come this princess (she that must have everything) and the pauper (he that must nod and agree until she gets exactly what she wants ) came into being. I understand that the majority of males would want to please their respective partners but the extremes this appears to have been taken to over recent times is surely getting a tad out of control..
  7. And the UK taxpayers require a lot more currently to keep them afloat too.......I wonder where thats going to come from, no one.
  8. I am wanting to move home, have found a place I love and cannot be bothered attempting selling my home currently and have decided to let it. I have no mortgage and am seeking 75% of current property value. The current property is in an an area where its type and size is sought after on the rental market locally and would hope not to have much trouble finding a tenant. I plan to keep the mortgage intact for at leat 3 years before attempting to sell the property. I have set up an appointment to see an estate agents mortgage advisor who did a quick search and came up with one company offering a deal that could suit. However, when surfing the net last night, I found other similar offers that worked out roughly £20 a month cheaper (better in my pocket). Will the Estate Agent advisor simply lead me to the best deal for them regarding their slice of the cake and are they the best or worse place to look for such a deal? Is there any advice that anyone can offer regarding where to look or who NOT to talk to regarding such a mortgage? Thanx in advance
  9. Well, its more like a let to buy mortgage in effect. I am wanting to move home, through choice not necessity and have my own property and no mortgage, credit cards or loans. Tomorrow I am seeing an agent regarding mortgaging my current home, 75%, to buy a place I love :-) and renting my current place to repay the loan (keeping the mortgage probably 3 years only). This is not a major business plan, simply to move on as I couldnt be bothered currently attempting to sell. The locality has a shortage of lettable properties like mine and would assume finding a tennant shouldnt be too difficult, hopefully. I have had a quick telephone quote via the agent from northern rock which sounded OK, rent would cover etc. Has anyone got any sound advice I should take into account, mortgage types to avoid, mortgage companies to avoid ;-) or mortgage companies to deffinately consider?
  10. If property prices drop as far and wide as you foresee, your post may well be seen in a short while as bragging about what you have. Yes, you have done very well, a good move, but please dont tell us that in your current financial situation while England apparently burns that "renting a property is unsettling" for you as it may well fall on many deaf ears.
  11. As I have posted elsewhere, why are you (and the vast majority of house buyers currently) assuming that every house for sale is a desperate situation that you can and should get a good deal on? Unless the house is a reposession or bereavement sale, your actual chances of getting your own way are pretty slim. The vast majority of houses for sale are there through choice of sale, not a forced sale and therefore the owners will need to recoup what they need to move on, not simply roll over and let you have your wicked way with them ;-)
  12. So, if you do not offer your house for sale, that makes it sound as if it is still worth what you paid for it ;-) Also, a house is worth what the owner is willing to sell it for, why do people assume that every house for sale is fair game for a massive price reduction. The vast majority of houses for sale have NOT reduced their for sale prices, they are NOT under reposession orders or bereavement sales and therefore NOT fair game for ridiculous offers as many people are claiming they are. I cannot believe that quite so many are assuming the whole country is desperate to sell their properties at any cost.
  13. But isnt this what happens in a recession? Is anyone really surprised? Lets face it, theres been more than enough talk leading the country into a faster and more sharp biting recession than was otherwise foreseen, this is the result, companies running for the hills before the real need (aka Land of Leather). If you say it enough you end up believing it and also adding a little extra for effect. Chinese whispers actually works. Its here and its now, not surprisingly really.
  14. The trouble is now, with interest rates being pretty low, people stepping onto the property ladder and getting a lower purchase price, especially those with simply "Enough and no more" money for their new property, no doubt run the risk of increased interest rates in the future which will hit them hard at a later date. Therefore opening up a whole new debate wether it is best to buy at the bottom or top of the market for first time buyers (within reason of course). No matter what deposit an individual has, they will, in the vast majority of times, have to take the largest mortgage amount available to in the first place.
  15. Well, I live in a small Lancashire village (I know, wrong side of the hill,lol) and have seen THREE properties sell in the last 2 months within 500 yards of my property. Agreed, all below 100k but thats the norm around here for terraced 2 bed properties. Unless they were sold for way below the asking, possibly there is some movement. I do think that a lot of the trouble re properties not selling and the overall reductions is inflated by the number of new build and conversion flats that has dogged the property market over recent years (all to end up drug runs blighted by the less than required DSS clients). Here, at any rate, advertised property prices have not dropped anywhere near the Halifax's bizarre figures that they have spouted over the last couple of months. The vast majority of properties are still marketed at exactly the same price as they were a year ago. I suppose we all have to take it with a pinch of salt regarding all information metered out and actually base it on what is happening on our own doorsteps to get the best idea. Many of these sources are actually simply wishing to make a relatively stale time into a major catastrophe in the name of getting another hand out.
  16. It all depends on what you are buying it for, where you live now and what benefit buying it brings you? IE-If you live currently in a doss hole, with terible neighbours etc etc,it may be worth going for. If you live at home with your Mum making your meals and doing your washing, whats the rush, they could come down more yet!! If its for investment purposes, it will take quite a while by all accounts to reap any finacial reward. In all, there are way too many things to take into account for any mere mortal on this forum to honestly help you make a descision on. Good luck in whatever you decide to do.
  17. Dont you just love these people, telling people to sell their properties for less than they paid for them. Yeah right, of course people will be willing to that across the board. Even building societies and banks would find it tough to make that descision with any reposessions they get in. I suppose the only way it will come into fruition is when property owners have all passed away, their families have claimed the inheritance and they are happy to get something rather than nothing in their pockets. Other than that, I cannot see people dropping prices across the board in such a cavalier manner.
  18. It is now a total myth, as spouted by Anne (the house doctor) Maurice et al regarding home dressing to make it sell, it makes no difference as no one will come and see your hard work and cash outlay ;-) Better off spending the money on chocolate cakes and being happy in your obvious tip lol
  19. No, I joined to discuss issues in general, not simply this post (and thank you for the warm welcome!) Of course it could but the seller surely isnt doing the deal and being debt free at the end of it either and therefore not quite a happy ending for all. I fear I do not belong to the camp that believe at this difficult time, bu**er the seller, whatever their circumstances (increasingly not always there own fault) so long as someone else can brag of their good fortune out of anothers adverse position. Boot and other foot spring to mind, Im neither a Bull nor a Bear and have no similarity to a shark either ;-) Im not a business man, as others will no doubt wish to make comment on, but even being mortgage free allows me to see the bigger picture for all, not simply myself.
  20. Well, they say that all is fair in love and war, but not so with property dealings. If the property was once on at 200.000, why on earth would someone accept 97,000? I find it a tad far fetched TBH. Unless the sellers bought the house in the early 70's for 500.00, had no loans secured on it what soever and were wishing to live in a caravan on the Isle of Sky, what would be the point of them selling at such a loss. I doubt the property was actually originally 100% over valued even by current figures.
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