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Pent Up

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Everything posted by Pent Up

  1. Suprise suprise most of the viewers have viewed before. So not actually got anyone new. They just phone up any previous viewers and ask if they want to be on tv.
  2. Why does he get the agents round to discuss how the price is so wrong? They are the muppets who valued the houses in the first place!
  3. I hope that in a small but significant was my purchase contributed to that NSA fall.
  4. Not going to bother. Same shit different party
  5. He is still pretty active on twitter fighting the corner. if be has bought at least he hasn't done an RB!
  6. These are based just up the road from me. It's been a regular in the local paper for a about 3 years. Basically they've been selling Caribbean developments off plan then not bothering to build them and not giving anyone their money back.
  7. I would find 10% + yields extremely hard to believe at today's prices. Even with such high rents. Certainly not in London or the south east anyway. I'm not talking about the actual transaction costs of buying and selling. (Although these can be considerable) I'm am saying that you need to take into consideration the fact that the buyer will not buy a £130kish house for life. At some point they need to find the money to make that to a £200k house then possible again find the additional to a £250k+ house. This more thank likely will be increased in mortage borrowing or pushing back the term. To be fair regarding my strategy I was living with my parents until 30. I didn't consider it wise to enter the market as a buyer or a renter when I could suffer the relative inconvenience of living with my parents and only paying the equivent of a small house share in rent.
  8. It would benefit anyone looking to upsize. As long as they didn't buy at silly LTVs
  9. Exactly. If I had bought my house at 24 I would have a maximum 10% deposit saved. So my mortage would be £190k. Repayments would be around £1200 per month (!!) bearing in mind Interest rates are higher for highl LTV. Total cost of house over 25 years £380k! I didn't thankfully I saved, waited and prices fell (Not nearly enough though) I bought at 30 with a 50% deposit. My repayments are under £500 per month. I can afford to overpay and should be paid in 15 years. I've saved a fortune in interest by not buying at 24. If I had waited again another 7 years until 37 I would have paid cash with money over. Another thing that Brian doesn't account for in his calculations is moving house. No one buys a £130k house and stays for life. If your paying that much below average prices you getting a 1/2 bed flat or house. If prices are rising as the study assumes then the next step up the ladder is getting 10% more expensive for every 10% rise in prices. Which means that the buyer needs to either keep saving (not going to happen with a £1200 pm mortgage) or take on more debt/ extend the term or both. So after a couple of moves our 24 year old probably now about 37, far from being near mortgage free, still has years to pay on the mortgage, likey with higher payments then the £1200 he started with and has wasted tens of thousands in interest payments. And if he MEWed too... He be one of those pensioners still paying the mortgage that we hear of commonly these days. Should have rented...
  10. I found a tesco gift card with £5.60 on it last month but nothing for a long time before and nothing since.
  11. No it's not over the cliff edge has been extended but the eventual collapse will be greater. As for being better off buying years ago. Maybe if you had a big deposit years ago and could buy a house that you would stay in for life. But if you buy a house and need to move to a bigger house then all these suppose future rises will do you no good. Just makes the next move more expensive! Saying all that. I can't see prices being pushed up that much. More of a static crash delay as we have been seeing recently.
  12. I've made offers on several houses over the last couple of years and EVERY time I heard the exact same response to my offer that someone had coincidently just offered on the same day as me! Strange as none of the houses sold within a reasonable time after. Most were taken off the market some are still on and one at a lower price than what I offered over two years ago! In the case it may not be a lie if the house is now marked sold. But in future expect the agent to make up offers. A good response is: I'm not interested in other offers/interest I'll offer what I think the property is worth. Other parties are irrelevant to that." The house I actually bought had "another interested party who are going to offer today" and after the above response heard no more about them and my second (albeit low ) offer was accepted.
  13. Exactly. It makes me laugh when people call it 'tax' it's a benefit cut! I've had a couple of 'disagreements' with some of the left leaning members of my family about it.
  14. Courtesy of Henry Pryor on twitter. I wonder how many of those 12,000 will never sell?
  15. They are not putting the towns in the agents comments anymore. Wonder why that is?
  16. Phew, now thats averted we can all go and buy!
  17. I'm watching one. It's a 1 bed tiny terrace that some chopped the bedroom to make a "second bed" more like a walk in cupboard. No room for a full size bed. They paid £177,000 in April 2010. Massively overpaid IMO. They had a baby when they moved in so it was a very bad decision to start with. Back on the market June 2011 for £205,000. Quickly down to £195,000. 6 months later down to £185,000 (which was the asking price when they bought it) then off the market for a few months and back on at £175,000 and now reduced again to £169,000. They must be getting pretty desperate by now.
  18. The problem here is that they bought with too small deposits in the first place. If prices rise fair enough it may give them a small deposit but it's going to mean getting a bigger mortgage. If they bought with a decent deposit prices fall and it's cheaper for them to move up. Prices rise its more expensive to move it.
  19. Problem is the coalitions cuts arent even scratching the surface and all the labour supporters and their socialist unions are up in arms. The Torys don't have the balls to do what needs to be done and labour would just rather keep living in la la fairy land pretending there isn't a problem and hoping all goes away if they shut their eyes and wish hard enough.
  20. No it's not. Not unless you are going to sell up and rent.
  21. Its hard staying at a parents house. I feel some people look down on it and consider it not being independent or "grown up" although that all changes if I decide to tell them my bank balance! We didn't want to rent for that exact reason you mention plus with such a big deposit it makes the mortgage small and manageable. I'm looking forward to getting stuck into some serious overpaying!
  22. Thanks venger. It's not a massive house but has room to start a family. I think we probably would want to move eventually but could also easily stick it out. It has a garage for the tyres
  23. Thanks Timebandit. Hopefully my contribution will continue despite my increased word commitments lately.
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