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digby

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  1. I have just bought, 34% off original asking price! sold mine in april at 5% off asking price. There are some good deals to be made now, more so over next 12m I am sure.
  2. I am buying too! I sold in April at 4.5% off asking price. I was lucky. Now is the time for me, managed to get a good discount 30% off asking. I am comfortable with it knowing the inevitable aorund the next 2-3 yrs.
  3. seems like ages since nethouseprices etc has updated its data, still only showing junes figures? I am sure it should be out by now. Anyone know what day of the month these sites are updated? thanks
  4. Thats a bit harsh, you dont know what he is buying, he could be getting a really good deal. In the current market there are good deals to be had.
  5. Got this email today, made me laugh talking about recovery in property market! "Hi digby, There have been some encouraging signs in the property market this week, with reports claiming that the sector may be rebounding from its recent slump. Meanwhile, the government has faced a difficult week defending its online database of properties, after the European Union has been quizzing UK ministers on its intentions for the system. The database could result in important changes to the way the property industry operates, as well as being central to the government's ID Card scheme. Click on the links for more. Thursday 14 July 2005 Feature – London expects http://www.searchflow.co.uk/thepropertyfor...?story=15005231 Thursday 14 July 2005 Olympic effort "will need skills boost" http://www.searchflow.co.uk/thepropertyfor...?story=15005164 Thursday 14 July 2005 Regeneration plans given warm reception http://www.searchflow.co.uk/thepropertyfor...?story=15005134 Wednesday 13 July 2005 Property industry given price boost http://www.searchflow.co.uk/thepropertyfor...?story=16149610 Wednesday 13 July 2005 Northampton innovation gets ODPM backing http://www.searchflow.co.uk/thepropertyfor...?story=16149609 Tuesday 12 July 2005 Taylor Woodrow looks across the sea http://www.searchflow.co.uk/thepropertyfor...?story=15003911 Tuesday 12 July 2005 Europe to question government on address database http://www.searchflow.co.uk/thepropertyfor...?story=15003908 Monday 11 July 2005 Wales takes action over affordable housing http://www.searchflow.co.uk/thepropertyfor...?story=16137269 Monday 11 July 2005 Skills gap closes http://www.searchflow.co.uk/thepropertyfor...?story=15003416 Friday 8 July 2005 Non-standard loans becoming more popular http://www.searchflow.co.uk/thepropertyfor...?story=15002741 "
  6. All these houses were in Bromley, Kent by the way. Perhaps SE will lead the crash.
  7. I have been looking at the top end of the market, hopefully to see bigger % drops here than any other properties ,over the last 3 m as an indicator: 2.2m to 1.7m (-23%) ! 1.195m to 975,000 (-19%) 1.2m to 980,000 (-19%) 825,000 to 699,950 (-16%) 875,000 to 820,00 (-6%) 675,000 to 649,00 (-4%) EA owned house (tiny new build) My observations are that more are reducing,but only a handfull out of 50 or so more,most are just holding there prices unsold. Even these reductions havent resulted in any offers. Do you think the top end will suffer more in percentage than lower end of market ? it seems their valuations were wildly optimistic even more so.
  8. some cuts We're in the middle of sorting out a 100% mortgage with Northern Rock (they do the valuation/property on Monday morning so we must have passed all their credit checks ). The rate is 5.99% fixed which I think is an extra percent over their usual fixed rate, but there is NO MIG (Mortgage Indemnity Guarantee) which I think is the arrangement fee leemel was talking about. We spoke to Natwest and they offered the same rate as Northern Rock but wanted to lump over £4000 extra onto the mortgage to cover their own back if we decide to stop paying or whatever. It wouldn't help us in such an event, just them! We found out about the Northern Rock deal by going through an independant broker. One of the key parts of his search was that we wouldn't be paying one of these MIG fees. We still have to pay an arrangement fee, although I believe this is normal for all mortgages and not just 100% ones. It's the same with the property valuation fee. What Northern Rock do is give you £1000 cashback on completion to pretty much negate those fees. Oh, one other thing worth noting, I'm not sure how other places do it but I assume it's the same - Northen Rock don't give you a mortgage to 100% of the value of the property. They give you a mortgage of 95% and a loan for the other 5%. The loan is at the same rate and terms of the mortgage, so in theory works out cheaper than taking an independant loan for a deposit. When I first bought a flat (back in 98) the mortgage was arranged before I had started my job. All I needed was a reference letter (which I got from HR) confirming that I had a full time job/contract and what I would be earning. None of the high street lenders refused me (well, except Halifax because I'd missed one Britannica payment ) and I took the maximum I was allowed.. I'd be surprised if you got a mortgage when it's likely you've never worked full time. I had to take in 3-6 months worth of payslips each time I remortgaged Quote: Originally Posted by digby now is probably the worst time to buy, esp at 100%, we are at the top of the housing bubble looking for 30%+ drops over the next year or two. www.housepricecrash.co.uk You don't think that site is a little biased then? The market still hasn't reached it's peak here, let alone started declining! I have no doubt that some areas that saw the increases first will now be seeing a levelling off and would also suggest that the higher priced houses are dropping in price, but for most people the reality is that demand outstrips supply still. Just Passing is online now Report Bad Post Black Book Reply With Quote
  9. some people are considering 100% mortgages in current climate,offered some sensible advice and was laughed at check out this thread : http://www.thedvdforums.com/forums/showthr...97&page=1&pp=20 towards end of thread.
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