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Everything posted by exiges

  1. I suspect many purchasers of such places would still have cash to create real growth.
  2. I've viewed the property, there's a few things wrong with it. First off if you're spending that kind of money you want some land and all it has is a relatively steep bank. Also despite being new build it comes without warranty and has already suffered problems like burst pipes beneath the house. The original price was a joke frankly so not really indicative of house price trends. From what I gathered the vendor would accept 7-something. (low 7s). Even then it's expensive compared to what else you can get for the £
  3. No.. it's a commercial enterprise, he's spending that money solely for the tenants pleasure.
  4. Whereas you do ? Sorry, couldn't resist.
  5. And the security gate infront of the main door.
  6. Holy hell, that's stupid money for what is essentially a crappy mid terrace with a driveway for other people running under it. Garden grabbed too ! You know how to spoil me !
  7. I did ?!? Where ? (Genuine question). Don't confuse what we rented with our financial circumstances. Very different things as you know.
  8. Well, you can't get a 100% mortgage these days, many require a sizeable deposit, with that in mind First Direct have an SVR offset mortgage at 3.69% (75% LTV)
  9. I'd agree with that, it's a bit like high interest rates on loans for those on low incomes, it's a vicious circle. How people starting out today manage, I don't know.
  10. My post was to correct your incorrect assumption/failed insult that I "needed to retrain" because I posted properties in a couple of places to substantiate an argument, and somehow those examples applied to my circumstances. Don't feel down though, because I am genuinely flattered that you feel familiar enough with my financial circumstances to comment on them, as misguided as they are.
  11. Answer: it depends on your personal circumstances. There are no absolutes IMO. My argument is that for low-mid range, entry level FTB type homes, renting can be expensive compared to buying as shown in my posts above, they're your typical FTB places in typical areas of the UK. I understand that the further you go up the scale, renting seems more "affordable", a £1.5m house in Northamptonshire doesn't fetch 10x the rent of a £150k house. I also understand that some on here have wangled great deals on medium-larger properties but it's wrong to use them as typical of the market as a whole.
  12. 6% mortgage ? Where did you pluck that from ? You can't use "that's what they used to be", we're not in Kansas anymore Toto. The average SVR is 4% (SOURCE).. so actually you're paying £325 interest vs £695.
  13. No need, I'm doing OK thanks. But I'm not going to make the mistake of using my personal circumstances as a template to fit everyone else looking for a home.
  14. They're not very cheap to the people around here trying to buy them, when wages are only £20k pa. for a good job. What I've posted is typical of a non-London area. I'd argue North London, and surroundings are the exception, we all know this from HPI reports anyway. That was Rugby, let's try Milton Keynes The same house.. 2 bed terraced. To buy: £130,000 http://www.rightmove.co.uk/property-for-sale/property-36551393.html To rent: £695 http://www.rightmove.co.uk/property-to-rent/property-32944507.html
  15. I would say this is more the exception than the rule. If you do a Rightmove, you see places like this: Sample postcode: CV22 5LB Rent: £950pcm CLICK Buy: £175,000 CLICK Sample postcode: CV21 1BY Rent: £725 CLICK Buy: £157,000 CLICK The last place we rented was £700pcm, for a £250k house and we knew full well we were onto a great deal, there simply wasn't anything else around similar for less than £850. It would have been disingenious of us to say that "rents around our way are £700" when ours was an exception.
  16. The subtlety of the argument you're failing to grasp is that your personal circumstances cannot be applied to all. Everyone has different circumstances, but generalisations can be made without asserting that it applies to absolutely everyone. It's not a black and white argument. In some areas, for some properties it's cheaper to rent than buy, conversely in other ares it's cheaper to buy than rent, or at least is more appealing. Do you not agree ? It does you a disservice to label anyone disagreeing with you as a "VI spamming misinformation" as you then appear to be precisely what you accuse others of and not open to reasoned debate. Particulary as your posts are bulk copies of what you've posted elsewhere, is that not spam ?
  17. Do you think banks will go back to taking only one income into account though ? It's much more commonplace to take 3.5-4x joint income.
  18. Friend of mine was telling me today how one of his properties is rented out to a family of Somalians on housing benefit.. He had a call from the tenant asking to be evicted. Yes, asking the landlord to evict her.. Why? She wasnt happy with the fairly substantial house she was getting for nothing from him, no, she wanted bigger and better but could only be rehoused if evicted.. There was a suggestion things wouldn't go well at his property if he didn't play ball.
  19. Another case of lots of little rooms to look good on paper, rather than useful living spaces. Just look at the living room, you couldn't put the sofa sideways, it'd block the room. No garden photos either..
  20. I saw this today, in the Halifax HPI report, and I think it explains why, and what would need to change to get a serious drop: "Mortgage payments for a new borrower in the second half of 2011 were at their lowest as a proportion of disposable earnings for 14 years. Typical mortgage payments for a new borrower - both first-time buyers and homemovers – at the long-term average loan to value ratio, stood at 27% of disposable earnings in the fourth quarter of 2011. This was well below the average of 37% recorded over the past 27 years
  21. Not at all. Like many things in life, there's a balance to be made, and those are the downsides to be considered when comparing renting with owning. So long as the ups outweigh the downs, no matter what choice you make, you're doing OK.
  22. Support for Mortgage Interest, paid to over a quarter of a million people behind on their mortgage. It effectively pays the interest on the mortgage (previously also paid off the mortgage capital). You get it for up to 2yrs if you're not retired. You get it until you die if you're retired. Most of the quarter of a million are in the latter category.
  23. Why should it ? However, your personal circumstances, your "truth", cannot necessarily be applied to others. You're happy with your position, and I'm happy that you're happy. I'd just like to see some variety in your posts, even if it's the same message, that's all.
  24. Can the mods have this at the top of every thread so that Bruce doesn't have to post it manually each time ?
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