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House Price Crash Forum

Sparkey

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Everything posted by Sparkey

  1. "when compared to the national average Time on Market of 227 days." Looks like the housing market is definitely recovering then
  2. That's easy. Most people are up to their necks in debt already, whats wrong with adding another few £k to the credit cards (until they are maxed out), then grovelling back to the lender saying you can't afford to pay it back, and hope it gets written off. And for all those people living in £300k houses on tracker mortgages paying £200 a month ... think of all that extra money to p*ss up the wall.
  3. Perhaps not at the moment. It depends on the reason they are intending to sell. If they are not forced to sell, then they will leave the property on the market forever until someone dumb enough decides to buy it (which maybe never!). However, once interest rates rise, umemployment rises, and everything else goes t*ts up how many of those people will turn into forced sellers ? ...tick tock .... tick tock .....
  4. Except when the price of imported goods starts to rise (fuel, food etc...) ....... £20/litre of petrol anyone?
  5. It may be the case that the Conservatives will look after the rich homeowners - but depends on who you define as a "rich homeowner". Owning a 300k house with a 300k mortgage doesn't make you rich .. though there are millions of "homeowners" who like to think otherwise!
  6. Depends on the lender that you approach. Most lenders stipulate that your deposit must cover the % of the purchase price, not the actual value of the home. So in your case for instance: 300k value of the house 200k purchase price Deposit required @ 25% of 200k = 50k Maximum mortgage: 150k. If you look around, you might be able to find a lender that will take the difference between the valuation and the purchase price as a deposit. Not sure how many do this now though. Hope that helps.
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