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Stu.

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About Stu.

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  1. Obviously sarcasm there! lol Id do what my Sister in law is currently doing, sort out the mortgage and get the lawyers to be incredibly scrupulous on the legal paperwork, ie if any modifications have been done where the building warrant, electrical test certificates, gas check certificates are and screw them to the wall. All the way up to conclusion of missives the buyer was knocking money off. he managed 20k of drops after an offer was verbally made. The market is utterly dead at the moment and its just a matter of screwing your heels in. DO you know how long the property was up for sale? Stu
  2. This actually backs up what IM seeing up here in Scotland, about 90% of properties in the the auctions ive been to in the past 3 months have either not met their reserve price or have jumped between auction houses steadily achieving less and less each time.
  3. Stu.

    Property Bee Games

    This is horrific. My GF is doing surveying there and the local council are knocking down all the houses She said...drive to hell, go a little further and you will get to this place. Its not worth half of that! S
  4. Stu.

    Ayrshire

    The irony is im in no rush, my girlfriend has a house already down here and the mortgage is only 400 a month. It was bought at a time before the boom, so we are in quite a good position So we are in effect just biding our time for somewhere bigger rather than having to move in any rush. So at the same time as we are deposit saving we are also watching the crash happen. Bit of a result for us really. I was just aghast at the prices of some of these slaveboxes. I would have had to be locked up for one of these new builds with a 25 year life span, lol. This is the issue though...why would anyone want to live in kilwinning with the expense of travel on top of the mrotgage cost at Glasgow levels. The way i see it, take glasgow costs, take off travel costs, take off the inconvienience of an hour each way travelling, minus the crash costs of 25%. Thats then a reasonable cost Stu
  5. Stu.

    Ayrshire

    Hey guys. Im looking to move to yrshire and there really are some nutjobs in denial this one for instance "NEW TO THE MARKET AND WITH A UNIQUE SELLING STRATEGY - PRICE INCREASES BY 500 POUNDS EVERY WEEK ON THE MARKET!! VIEW AND BUY NOW WHILE PRICE IS WELL BELOW HOME REPORT VALUE!! " this the house: http://www.rightmove.co.uk/property-for-sale/property-28019638.html NUTTERS! I also know of someone who bought in Grangewood near kilwinning (one of those persimmon slave boxes) a 3 bed town house, with loads of stairs, small box rooms and no garden. £198k, she part exchanged her old flat for 35k, persimmon owns 30k shared equity, which needs paid back in 10 years. and the rest on an IO mortgage. To annoy her she is the only house that was sold in the block. and the houses now are valued at £179k and still no buyers. i reckon £100k absolute maximum!!!! An EA here was saying it was the worst he has ever seen it! Another EA for houses i was looking at was really not interested. I am rapidly beginning to dislike these people the more i have contact with them. As a general percentage I am debating offering price - 30% off as a starting point..and i do think im being generous!!
  6. Hello! I know the area quite well. I personally wouldn't want to touch those at all. Nope no chance no no no The problem with putting up a new build development in a questionable area is one of the original people not having changed. Regardless of any regeneration the people really don't care and by and large are on benefits So in essesnce this development was put up amongst the council flat stock. Along with that comes the junkies, methadone addicted and workless. So on one hand you have the relatively nice set of flats, but then outside you have a methadone clinic, a somerfield a greggs and about 20 odd junkies and drunks standing outside your house. I know of a few people who can't even keep a nice car in there as they last about 2 days before getting broken into Slum of the future, along with Glasgow harbour, lancefield quay etc. I think they will have to fall a long long way before they become good buys. Stu
  7. Everyone, Is it my imagination or are interest rates rising? Log book loans. Typical 437.4% APR I dont know if taht is a selling point really, lol
  8. Go to page 2 of the results under 15 year deals. Table of Contents Mortgage Pay Rates Fees Early Repayment Charge Remortgage Income Multipliers Cashback Employment Status Conditions CCJs & Arrears Max/Min Term Acceptable Payment Methods Purchase Remortgages Endowment 5.740% 5.740% Part Investment 5.740% 5.740% Pension 5.740% 5.740% Interest Only 5.740% 5.740% Individual Savings Account 5.740% 5.740% Capital And Interest 5.740% 5.740% Mortgage Pay Rates : Fixed rate A fixed rate of 5.740% for a period of 15 years followed by MANCHESTER BUILDI's Standard Variable rate, currently 4.840% for the remaining term of the mortgage Standard Variable Rate 4.840% Early Repayment Charge : * 3.00% of loan amount redeemed to be paid within 10 years Remortgage : Acceptable Reasons for Remortgage Loan to Value Limit Increment to Pay Rate No Capital Raising 70% 0% Home Improvements 70% 0% Debt Consolidation 70% 0% School Fees 70% 0% Holidays/Cars 70% 0% Other Property purchase 70% 0% Business Purposes 70% 0% Divorce Settlement 70% 0% Unemcumbered 70% 0% Applicant Type Restrictions : n/a Cashback : None Minimum Valuation : £125,000 Maximum Loan : £350,000 Minimum Loan : £50,000 Loan To Value Limits : 70% to max val. Maximum Loan Term : 15 Years Minimum Loan Term : 15 Years The overall cost for comparison is: 7.7% APR calculation method for APR assumes reversion to base rate. Employment Status : Employed Minimum length of time in current position : 6 Month(s) Minimum length of time in continuous service : 6 Month(s) Self Employed Loan to Value limit for self employed : 70% Minimum no. of years accounts : 2 Years(s) Income calculated as average of previous 2 Years net profits Declining net profits will NOT be considered Net profits do not have to show steady growth Income Multipliers : Enhanced income multipliers available. Applicant 1 The 1st applicants income will be multiplied 4.25 times. The 1st applicant must be 21 or over and must earn more than £17,500 per annum. Applicant 2 The 2nd applicants income will be multiplied 1.00 times. The 2nd applicant must be 21 or over. Joint Application For joint applications the combined incomes will be multiplied 3.25 times. The 1st applicant must earn more than £17,500 per annum. Other Income : Guaranteed : Add 100% to basic income before using multiplier. Regular : Add 100% to basic income before using multiplier. Irregular : Add 100% to basic income before using multiplier. Other Jobs : not taken into consideration. Investment : Add 100% to basic income before using multiplier. Mortgage Subsidy : not taken into consideration. DSS Payments : not taken into consideration. Rent Allowance : Add 100% to basic income before using multiplier. Attendance Allowance : Add 100% to basic income before using multiplier. Large Town Allowance : not taken into consideration. Maintenance Payments : not taken into consideration. Non Contributory Pension : Add 100% to basic income before using multiplier. Additional Duty Hours : not taken into consideration. Car Allowance : Add 100% to basic income before using multiplier. Monthly Outgoings : Hire Purchase : annualised payments will be deducted from salary. Personal Loans : annualised payments will be deducted from salary. Overdraft : annualised payments will be deducted from salary. Credit Store Cards : annualised payments will be deducted from salary. Child Maintenance : annualised payments will be deducted from salary. Child Education : annualised payments will be deducted from salary. CCJs : CCJs NOT acceptable Arrears : Arrears NOT acceptable Valuation Fees : Valuation up to Valuation Fee Then Add Per £100000 £205.00 - - £150000 £250.00 - - £200000 £290.00 - - £250000 £325.00 - - £300000 £350.00 - - £400000 £400.00 - - £500000 £450.00 - - £600000 £505.00 - - £700000 £555.00 - - £800000 £605.00 - - £900000 £680.00 - - £1000000 £780.00 - - Up to a maximum of £250, refer to lender. Arrangement Fee : flat fee of £995.00. Fee will be added to loan. Booking Fee : not applicable;no fee Higher Lending Charge : Threshold n/a Rate% n/a Min Premium n/a Insurance : Insurance is NOT a condition when applying for this mortgage. Requirements : Last Date for application : n/a Last Date for completion : n/a Notes : Up to 10% of the capital balance outstanding at the start of the calendar year can be repaid within that calendar year without the early repayment charge being applied. Minimum period of property ownership 6 months before remortgage permitted. Newly Built / Converted flats and houses excluded. Residential houses must have been completed at least 36 months ago, and flats/apartments must have been completed at least 84 months ago. Ex-local Authority Flats excluded. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP
  9. This is my problem too. Inflation or not? Like it or not i think it is coming. The QE and artificially low BoE rates are currently skewing everything. We are beginning to see the first affects of it. Fuel price increases, which will then hit onto food prices, and that along with the devaluation of the £. Only reason it doesnt appear in the statistic, correct me if im wrong house prices are not included within the RPI? It is in the CPI im sure. If that were the case for the past 10 years then we would have had inflation at 10% not the 2% until recently. Does anyone know when the next inflation figures are due? And Merv has to write a new letter to Ponzi? Stu.
  10. Manchester Building society are doing them at 5.47% with a 70% LTV. Although thats still a fairly massive whack of cash needed! Stu
  11. Hi everyone, been lurking here for nigh on a year now, and thought id do my first post! I am of the same opinion, inflation is on the way, and regardless of the level it is just about the right time to get a 10 year fix to protect myself from it all. Although Im currently teaching courses for the unemployed so I am and will be incredibly busy for the foreseeable. I just dont want to see my savings eroded by inflation whereas id sooner see a housing debt eroded by it instead. Is it time to buy? more than likely..but I am certain falls are goign to continue. However will these falls balance versus the interest rates available now? Who knows...im just expecting armageddon. Stu.
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