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MartyIsGood

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About MartyIsGood

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  1. I was getting a bus to work the otherday and came across this advert stating "WE BUY HOUSES Cash... Fast !!" followed by a phone number and the websites URL. I don't want to appear to be advertising but I am curious as to what the agenda of this company is? Are they genuine? The signs can be seen attached to the pole of the traffice lights beside the carwarsh near iceland on York Street. My bus was moving from York Street onto Dock Street when it got stopped by the traffic lights. I can give you an outright description that each sign is a yellow sign with the above message saying they buy homes and also state they sell homes too! .com Anyone have any idea who this company is or what these people are up to? would be good to get some insight Regards
  2. So let me get this straight... 1. They say: "No deposit needed from you - the developer pays your 5% deposit." Catch: No deposit meaning you pay the interest on the FULL amount borrowed; lets say for talks sake £150,000 over 25 years at 4.5% minus the 5% the developer is paying which amounts to £7500 bringing your total mortgage to £142,500. Thats £800 a month? Crazy! 2. They say: "Peace of mind - you'll only pay your deposit back if the property value grows by 5% or more after five years." Catch: That's garaunteed to happen in my opinion; and who is going to do the valuation? Them? Thats another £7,500 you'll have to add to your mortgage, an extra £50+ a month; doesn't sound like much but in addition to the near £750 a month (after 5 years of repayments mostly on interest) thats a big financial burden. But hey you're property value has went up... but so has others. 3. They say: "Protection against falling house prices – we'll reduce your mortgage by up to 10% of the original property value if your property value has fallen after 5 years." Catch: Same as above, can't see them going below the price paid now or the next 2-3 years (perfect time to buy imo - depends on bank lending flexibility) 4. They say: "Choice – competitive fixed and discounted mortgages up to 95% of the property value." Catch: This is what they want, and will obviously hit you with the interest. Unless you can secure it at 4.5-5% you'll get hit pretty hard with interest repayments. I'm aiming to have as big-a-deposit as I can afford. But with this you'd be better of renting at reduced prices and better standard of living (depending what you go for) whilst attempting to gather a decent deposit. 5. They say: "Flexibility – choose a term that suits you up to 40 years*." Catch: Couldn't see anyone getting more than a 5-year fixed rate. Total trap. 6. They say: "Free Valuation" Catch: Not free at all. A portion of your one months interest payments on the mortgage will cover this no problem. If its on sale for £150,000 they'll tell you its worth £150,000. 7. They say: "Extra value – No higher lending charge (normally charged for any mortgage over 90% Loan to Value)." Catch: See above. Not sure if you all agree with this, but I just can't see past them wanting everyone to buy now with no deposits maximising their potential income from the sale. Snakes in suits the lot-of-them. I plan on buying at the end of 2012 with (hopefully) at least a 40% deposit. I understand there are people who currently cannot afford to muster together anysort of a deposit which is perfectly understandable with todays living cost. But then again there is also people who would love a 5-bedroom detached house overlooking glorious landscape at a combined wage of £35,000 but this deal will allow such a purchase to succeed despite the obvious disparity in house valuation and income. 40-year mortgages should be scrapped and some measurement of financial qualification needs applied as this is what has contributed to this mayhem in the first place. The market was tested regarding whether people were willing to get themselves head-over-heels in dept and the result of that test is "yes" they are. Reducing the mortgage life-span to 25 years and a minimum 10-20% deposit will contribute to an a manageable equilibrium of affordability without, completely, stressing the laws of financial common-sense. But banks can't make money that way so it will never happen... shame. Good luck
  3. Totally agree with you on that one Sophia. I would rather rent and try my best to accumulate a reasonable deposit in hopes of making the overall mortgage somewhat easier to manage. I'm thinking the end of 2012 and start of 2013 might be a good time. But I could be horribly wrong! Will approach this day-by-day Appreciate the advice, thanks again. You need to go and get the left-side of your brain checked out by your doctor. Logic definately doesn't come into your posts which exude delinquency. No offence intended.
  4. The websites name has nothing to do with when to buy property. Which was his original question. In my opinion 2012-2013 will be a good time to buy. I am just looking for a 3-bed semi and hope to have around 40-50% deposit come that time. (I'm guessing I could get a house for around £100,000?)
  5. ...and a packet of Tayto Cheese & Onion will cost you four thousands pounds!
  6. Spot on with that one. People who are frustrated at seeing House prices well above their RV are watching the market too closely. I think 18 Months (January/Febuarary 2011) will be a good time to have generated savings, and start searching.
  7. @ Voidal Thats some great tips there, very much appreciated. I like your suggestion about the turbine, but I agree with BelfastVI in that unless I build the house in the middle of the ocean or on top of the Mourne Mountains I can't see me getting much wind generation unless the turbing is in excess of 100 ft in height which I'm sure would require jumping through numerous hoops! Solar panels are a definate consideration, I'm still educating myself regarding thier use and the best ways of harnessing such technology in overall house-architecture. Thanks greatly for your input Voidal. @ BelfastVI 100% spot on with the wind-turbine analysis and I totally agree. As nasty as the NI weather can be it appears to be a real pain for permission to even PLAN for a wind turbind installation, fee's around design, surveying, and overall analysis can be as much as £2000 before anything is formally decided. (in terms of purchase) On top of that I think there is a certain grade an area must match before it can even be considered. (grading in terms of wind generation and efficacy) I'm looking into solar panels but don't know enough to make any formal decisions. For the mean time I am just reviewing prices regarding purchase, installation and setup. Agreed with the installation. I remember watching a show that was monitoring the build of a brand-new eco-friendly house and they had sheep wool as their insulation, like four tonnes of the stuff implanted in the walls during house construction. But I agree investment in sound insulation would pay to no-end. My uncle replaced all his lights in his victorian house (bought then from B&Q) and saved almost £60 in three months! What brand of 5W would you recommend? And will they be easily replaced by the newer LED 1KW alternative in the furture? I agree that costs can be substantially reduced by playing it smart. Your advice is greatly appreciated. Is there a reason you would choose solid wall over timber-frame houses though BVI? @ noc Haven't considered planning consent at all, I should really check to see if such an idea (of an eco friendly house) can be realistically achieved. I was hoping to do all the educating, analysis, and research into this and then should the planning be approved whenever and wherever then I would be ready with the plans. @ Ride_on Agreed using the least amount of energy possibly whilst still utilizing what is being generated efficiently is definatly my goal. I've seen many cases where areas such as Wall Cavity, Roof insulation, Draft prevention were not properly taken into consideration and thus produced a poorely heat containing build. Hope you can recuperate any investment you have made, you seem well-informed anyway. @ shipbuilder Agree 100%. Reducing energy use far surpasses energy generation in terms of priorities. @ md23040 Never considered that about the build-in lights! They were my top priority to be installed believe it or not! Is there a way to approach installing such lights or at least enhanced insulation within the floors/roofs of where the lights are located? I never thought about them being a problem, thanks very much for the heads-up. I will review this guys posts, thanks for getting me the link. (yourself and doccy) Research is key at the minute! @ doccyboy Thanks for fishing out the link, much appreciated. does the upgrade cost or do we have to pass a certain amount of posts? @ Spark You certainly know your physics! Your name is kind of ironic given the nature of your post this information is invaluable though. I have around 12 CFL GU-10 lights installing within my mums house already. she hated the idea of the room being dull when the light was on but seen how much it improved within about 30-40 seconds and kept them in. Again a fair reduction in her bills has been noted. I remember eurospar in Derry has a deal on buy one get one free (and at £1.99) which was ASTOUNDING value considering they were £2.99-£3.99 each in B&Q/Tesco. Again buys, appreciate your input. Really opened my eyes to how to approach this idea. -------------------------------------------------------------------------------------------------------- On a different note, I've always been interested in Architecture, buildings, houses. When I was younger and in art class I never ever drew cartoon characters, or objects, or abstraction. I always got my ruler out and drew buildings! From they were always at an angle and people were always impressed with them, they said my drawings were fantastic! I think I'm made to become an architect! Unfortunately I've taken the Software and Technology route but I still keep in touch with my creative side being a Web-Developer outside of work, so I am not sure how realistic a transition could be made. I'll definately begin investigating software packages and general physics and mathematics of building, room, and area design to see. Again guys, the collection of thoughts and opinions will are priceless. Thanks very much. Regards, MartyIsGood
  8. Hi all, I'm really just scouting up my options but I've always wanted to live in an eco-friendly house. However I do note the thread debating the financial drainage of such an idea, I was wondering if I was to buy a 2-3 Acre plot of land in say Antrim/Down to build an eco-type house on what should my considerations be? Obviously water-supply, sewage spring to the immediate conscious. Has anyone thought of buying land and holding on to it to build on it in a few years time? You thoughts and opinions are very welcome. Much appreciated. Regards, MartyIsGood
  9. Yeah Newry is really raking it in, seems Quayside is booming. I have quite allot of relatives from Dublin come up to Belfast/Newry, and my Sister gets 15% Discount on shopping in Tesco because she works there. It's cheaper to shop in NI and sell in ROI than find a supplier in ROI! State of the Market it seems.
  10. There appears to be a real flavour of anticipation that things are turning around. (for the property market) I understand this is MAJORITYY EA and Seller driven to which I am aware of. However... There were 5 for sale signs up in my street around 6 months ago, they were still there just before christmas... then they vanished overnight. Nobody appears to have moved into these houses! Are people beginning to 'just hold onto' their property in hope that price augmentation is just around the corner? Personal instinct tells me this is a mistake... I would like to see official statistics with regards to houses-sold and not on the market anymore, not just 'sale agreed' statistics. Why do papers/sites base their statistics on such weak information? It appears to be denial (EA's & Sellers) vs realism. (FTB's and such) Belfast I agree, just got out of control. The higher they climb, the harder they fall. All the best, MartyIsGood
  11. Walk away 100% He is obviously one of the very many developers that are in denial of a falling house market. Don't offer £135,000, because in 6 months time it will be worth £120,000. From what I can gather, you have approval for a mortgage of £135,000? In which case this time next year you will be able to buy a house that is NOW currently worth nearly £170,000. Things are getting worse, for the developers that is, not us You're in control. Not him. Regards, MartyIsGood
  12. Yeah they are pretty work intensive. They do offer attractive bonuses though; (10% min 30% max) and travel all over the world. Small world indeed. Regards, MartyIsGood
  13. Hi all, some excellent replies! Mr Slump: I am one who definately thinks declining house prices is not a negative. (When I said 'worse' I meant in general, for people) I would ideally like to buy at the rendezvous point for house price to begin augmenting, or at least stabilising. I will continues to save until I feel the market is at it's lowest; I'll stick around here to get a good taste of what I should be looking out for, tell-tale signs of a turnaround etc, could be waiting a while by the sounds of it! I'n a nutshell, I can see just saving for a deposit is the way forward, and when ready (but not too early) go ahead and grab something. I'm seeing a lot of sales lately which I can't understand given the current market, but then again it could have been people who are mis-informed, were awaiting this happening, worried they will miss the boat again. Belfast Boy: Thanks, glad to be here. I agree with you totally now, there doesn't appear to be a light at the end of the tunnel just yet; for this reason, I will simply just save what I can until I feel the time is right. Could be 8 Months down the line, or 28 months. Perhaps 'Buy-to-let' is a bit more tedious than previosuly thought. My two cousins have been doing so over the last 4-5 years with little problems; I'm wondering that if it can clear the mortgage quicker that it might be beneficial in the long-term? More-so than just living in it anyway. The past few days has opened my eyes to just how bad the current crisis is. Excellent for people looking to buy houses, terrible for those who have just bought. For this reason, like yourself, I think I will be waiting until I start seeing some positive signs for the economy in general; which will always benefit property. Before this however, I will have some sort of mortgage approved (for say £120,000) just incase I do see an investment worthwhile. That is good advice. Thanks for that. Verdict: will wait until tell-tale signs show of an improved economy. Woogoo2: Excellent overview and initial guidance. Don't have a blog by chance!? You should consider that I can see where you are coming from. Inflation is a real fear of mine which I must consider before buying, I suppose some sound financial advice would be beneficial with regards to future economy, inflation, mortgage rates etc. I think consolidating my own conclusion through research is the best way forward. Regarding the interest rates, what would be the posibility of a 3% Fixed-term (5 years, maybe more) and a £25,000+ deposit being available? I have been scouting for mortages and doing my own home-work but haven't seen any stand-out products. Again this will not be very useful now but for the future, I hope it will open my eyes to whats available, and ultimately my best option. A sudden and steep-augmentation of interest rates could be hard to cope with, personally. As a singleton (on a hopefully miniscule mortgage) I could find it very difficult to actually cut-off any of the mortgage for as long as interest rates remain high. This could be a good window to start saving if I haven't already bought by then. I could buy a house to live-in tomorrow. I guess I am simply looking for the most financially viable option; The house I will buy will be one I would live in, and not just an investment. Inflation again, is the worrier. I'm a laid back person, but will move when the time is right. I agree with everything you have said though. I really appreciate your advice Woohoo2. Thanks for the overview. (This thread could be pinned the advice is so good!) Ride On: I see where you are coming from; it appears (from the advice gathered) that I would be best saving for a few years and then buying when the market is at rock bottom, and maybe moving in straight away anyway. But then inflation (as pointed out above) could be detrimental as a singleton. Renting does appear to be a pain. Much less worth the hassle in today's hostile environment than previously. Sorry, I never quite fully understood what you meant. Are yous aying that If I was to buy now, I would get 2-3 times the rent over mortgage, or else in a few years time just buy a place that has fallen by two thirds? Really appreciate the advice Ride On, been a real eye-opener! M4rk: You must either live in Dublin, London, or Malone Road! JoeDavola: That company you refer to, has since changed its name. (Abbreviated begins with N and ends with E) I know two fella's that work for them; incredibly stressful job glad I didn't take their offer after all. I do work in Weaver Court Doccyboy & My Slump: Is rent a viable option given the current climate? I probably would not buy a house that was personally, financially, out of reach. (I've limited myself to 3-4 times my wage after deposit) Guys, I really appreciate the advice, I've even began documenting possible avenues of investment. I guess I woulld wonder would I be best investing what I save into commodoties and hold out for 2-3 years? Sterling does appear to be declining, I am wondering how far is left to go. Kindest Regards, MartyIsGood
  14. Yeah I've gathered that conclusion Si1, thanks for the heads-up. It appears there is just too much variables to consider when buying a house for there to be a 4-5 line simple explanation/answer to my questions! I will hang around and learn from everyone here. I am pleased to be on board. Kindest Regards, MartyIsGood
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