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arkle

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About arkle

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  1. Also, lenders seem to have finally ended their practise of only offering the best deals to new customers so you may find you end up rolling into a new deal with the same bank. This may not be an option in a negative or v low equity scenario but the SVRs or 'follow-on' rates are not as penal as they used to be (currently around 3.5% with Santander and Nationwide). That would be unpleasant but not as bad as the 'mortgage prisoners' from the old deals paying 6%+
  2. Would a 5 year fix not be the solution? Slightly higher than the 2 year deals but would give you peace of mind in the scenario you're concerned with.
  3. I always find the TR site interesting as it is the only one to display the latest offer. In South Belfast the 3 bed semi market still seems to be moving. BT6 23 Haddington Gardens, asking 280k, current offer 275k 26 Ravenhill Park Gardens, asking 227k, current offer 235k BT7 99 Rushfield Avenue, asking 198k, current offer 215k BT9 46 Willesden Park, asking 297k, current offer 305k Seems to be much less activity for the bigger, more expensive properties. Work on the Carolan site beside Wellington College started again a few weeks ago but 575k-585k for a 4 bed detached looks very expensive. It will be interesting to see what 47 Ravenhill Park goes for – always a very desirable street.
  4. I guess there must be more to pricing a house than sq footage
  5. It would be hard to accuse TR of over-pricing it at 395k when it agreed for 505k+
  6. £505k is a frothy price but it's strange Ravenhill Park being referred to as an 'average' area. It's one of the nicest streets in BT6. Add in the big garden and classic looks and it's not hard to see why it attracted so much attention.
  7. I'm sure there's an element of that but for professionals or those on above salaries it's a desirable area that's more affordable that BT9
  8. Bought in Ormeau a couple of years ago. Paid a fair chunk over asking price after getting outbid on two others. There's certainly a premium over similar properties in E Belfast but for us it was worth it. Mixed area, Ormeau Park, great coffee shops + pubs. Someone said recently on here it's one of the few residential areas in Belfast you can walk into any of the bars and feel comfortable. As you say there hasn't been much come on the market in the last few weeks. Before that there were a couple sold in Ailesbury and Rushfield. Not sure what they went for but if anything comes on with Templeton Robinson they will show the latest offer on their website up until it goes sale agreed. Good luck with your search.
  9. Bought in Ormeau a couple of years ago after renting off Sunnyside Street for a few years and I would definitely recommend the area. Before that I rented off the Lisburn Road. I prefer the pubs over here (Errigle, Pavilion, Brewbot if you like your beers), the coffee shops are great (Kaffeo, General Merchants), nice restaurants (Shed, L'etoile) and I just like the vibe of the Ormeau Road. Mixed area, never experienced any anti-social behaviour, £6 taxi to city centre. Generally the houses below Sunnyside are terraced (nice period houses although it's street parking and it can be quite busy). The houses above are mostly owner-occupied semis with gardens + driveways, and there's less through traffic. Rosetta and Ravenhill have some lovely properties too.
  10. Your situation very much reminds me of my own. I’m in my mid thirties and having sat on the sidelines watching the boom (in horror) and crash (in relief) finally bought in 2014. I rented for many years and managed to save a 100k deposit. I would summarise the pros + cons of Buying v Renting as follows: Pros Having your ‘own’ place is lovely (even if the bank do own half) Not having to deal with letting agents Watching the mortgage reduce each month Not fretting when you see a headline like ‘Belfast house prices up 8%’ Cons The market seemed quite hot last autumn and we ended up paying over asking price Rates of £1,300 every April is most unpleasant I do miss the fun of having a share portfolio + the security of a big chunk of cash in the bank Maintenance – having rented for years it’s a bit of a shock how much you end up spending in B+Q and getting stuff done. We’ve met some very good tradesmen + some not so good ones – either way it doesn’t take long to run up a bill It sounds like renting works well for you at the moment but when you do eventually buy I don’t think you will regret it.
  11. There's a video and article on this issue below. Owners in the Mill Village, Comber are looking at service charges of approximately £2,500 per year as only one third of the units have been sold: http://www.thedetail.tv/issues/13/chris-apartments-story-part-2/the-real-cost-of-apartment-limbo
  12. UPS have a recently agreed repossessed property in the Brooke Hall development off the Saintfield Road: http://www.ulsterpropertysales.co.uk/property-specific.aspx?branchid=3&ID=38740 Interesting link back to when these properties were released in 2007 and sold out in 46 seconds: http://www.belfasttelegraph.co.uk/news/local-national/1635m-of-online-homes-are-gone-in-46-seconds-13450206.html I believe the property was agreed for around the £170k mark - a drop of 49% (assuming it was originally £335k).
  13. I stumbled across this article recently. £1m an acre, £82m of property sold in a day - it catches the mood at the height of the boom perfectly. http://www.belfasttelegraph.co.uk/lifestyle/property-auction-heaven-sent-13430482.html
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