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HPC hopeful

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About HPC hopeful

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  1. Absolutely don't budge - you'll find they'll come back to you in a month or two when no-one else puts in an offer. That's what happened to us anyway.
  2. I have to agree with this - on our recent mortgage application with santander every part of our income was checked both with payslips and by checking our bank statements for last 6 months to make sure said amounts actually went into the account.
  3. I know when we were selling our house we had to pay the brochure and marketing fees up front which amounted to over £300. That was our incentive to keep our house on the market in 2008 during which time we had only 1 viewer. We eventually sold in 2009 after reducing our price considerably. You're right, sellers need to wake up to the fact that they've no hope of getting the price they're trying to sell at. I think they know that themselves (probably due to the lack of viewers they'll be getting) but until the 'house up the street reduces theirs, why should I reduce mine' mindset goes away, it'll be a long wait to the bottom. I have found recently that prices of 4 bed detatcheds in my area are creeping gradually down, albeit slowly. You'll get the very odd one (though very far and few between) with a realistic price. I reckon this next year or so of cutbacks and hardship will be a sharp shock to a lot of people and they'll wish they'd sold when they could of.
  4. Just did some quick calculations - it seems the interest we would get on keeping 30k in savings would go a good bit towards the higher repayment for the extra on the mortgage so therefore the bank are practically paying it themselves and the best bit is we get to keep our savings. Sounds like a good plan to me! Thanks guys
  5. Thanks for the advice. I'm now thinking maybe it would be a better idea to do what doccyboy did and keep a lump sum in savings with a view to paying off early as we save. Going to see mortgage adviser on Monday so will have a better idea then.
  6. Hi, We've just agreed to buy a house so now looking at mortgages. We sold our last house and are renting in the meantime. We currently have 40% deposit for the house and were going to go for a 5 year fixed rate with this amount of deposit. However, this will leave us with no savings and therefore no 'cushion' to fall back on. I'm now pondering offset mortgages. Does anyone have any views on whether it would be better to hold aside say, £30k and offset it against a higher mortgage. Using the online calculators it seems we can reduce the amount of time/amount repaid by doing this, even though we are borrowing more. So my question is, are they a good idea and are there any risks with it? Any advice would be appreciated.
  7. Binchy, I would agree with everyone else on this one - put it on at a reasonable price and you will get it sold. We sold ours last November after being on the market for a year and a half. As soon as we reduced it to a more realistic price, it was sale agreed within weeks. I have to admit I was bricking it at the time and worried that we were selling too cheaply. However, since then the same house would sell for at least 25k less if they're lucky (I know because a similar one is for sale at a lower price than what we agreed and it's simply not selling). In hindsight, we did absolutely the right thing and are sitting in our rental whilst we wait for further house price falls. It's also reassuring to start to see the type of house we want to buy coming down to a more realistic price and we hope to buy within the next year. Don't waste your time with companies who will give you buttons for a quick sale (remember they are a business and will want to factor in a large margin to allow for further house price drops) - simply put the house on at a realistic price and you will get it sold. Good luck!
  8. Building work being carried out in Northern Ireland is at its lowest level for 10 years, according to a survey. http://www.bbc.co.uk/news/uk-northern-ireland-11005164
  9. I think Reeds Rains sell them too - you will often see them advertised again in property news once they have an offer - for example, "we are currently in receipt of an offer of £xxxxxxx, anyone who wishes to make an offer should contact our offices by [date]." That's how you know it must be a repo as they don't do it with ordinary sales. They are usually much cheaper too.
  10. I've no idea what year these people think it is!! http://www.propertynews.com/brochure.php?p=MPE172037 http://lpsni.gov.uk/vListDCV/propertydetails.asp?di=09&dn=Castlereagh+Borough+Council&wi=0000000432&wn=Moneyreagh&si=0000010741&sn=Gransha+Road&display=109394&rn=61
  11. Try North Coast Property Management who may have some short term lets in the area
  12. There are still plenty of people I talk to who are stuck in 2007. We are currently renting while we wait to buy. When I say to people we are in no hurry as prices are still falling, they look at me with that 'yea right' kind of look and say, "Och, I don't know, I think prices are rising again". Also, where I live, the type of house we want to buy - 4 bed detached - are sitting on the market unsold as the sellers are refusing to believe they aren't worth the price they are asking.
  13. Hi, yes that's what I meant - we have some sites for sale in a green belt area just outside moneyreagh, was wondering if they are included in this relaxation of planning
  14. Hi, does this relaxation of planning in the countryside include green belt areas?
  15. We went through the same dilemma for years, sell or extend? We were in semi and ultimately wanted to move to a detached so in the end we decided to sell. Similar to you, our house was on the market for a year with only 2 viewers until we got more realistic and dropped the price - only then did the viewers start coming. People are put off even looking at a house until they think they can afford it. We started at 275k in March 2008 and ended up selling for 175k in Oct 2009. At the time I was terrified that we were selling our house too cheaply as the type of house we could buy was still out of our reach. We took the plunge and decided to rent while we waited for them to fall further. I can honestly say I'm glad we did it. Our old house would probably only fetch about 150k now (or less). In addition, the type of house we want is gradually getting closer to our price range. There is no way the housing market is going up and as said above, the conditions are going to get worse which can only mean further house price falls. Hope this helps.
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