Downside
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Posts posted by Downside
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I know many people who have had a bung from the Bank of Mum and Dad. In fact, most of the people I know who have managed to buy. It is very definitely a real thing.
+1 I personally know at least 4 couples who have had the deposit bank rolled by parents. One couple never even dealt with the estate agents as the girls dad did the entire thing! Another couple gifted the deposited as an early inheritance.
Then one of the other couples saved for a wedding but the parents paid for it instead so they used the saved money as a deposit for their house.
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Top 3 are the biggest loss makers. Clearly not sustainable.
Chelsea and Man City are both owned by billionaires, few million pound loss is a drop in the ocean for them. Chelsea have been loss making since Abromovich took over.
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Thanks I did think they couldn't force a professional clean but was unsure of proof of this.
Thanks again for your help
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Hi everyone
Our tenancy is coming to an end and I've moved out already. The house has been cleaned top to bottom and is the same if not better than we moved in (we even added a minor improvement of a mirror and shelf in the bathroom). On our tenancy inspection report it says 'carpets were professionally cleaned prior to start of tenancy and proof required to confirm they have been tended to at the end'. Now if they were professionally cleaned it was a poor job as the smelt of old dog (previous tenant had a dog).
We put on our stock list when moving in that this was the case so they knew about it. Now my concern is we've cleaned it to a professional standard do we still need proof? Because to hire a professional seems a waste of money when we know they wont make much difference.
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Yeah its rare you hear about people losing money on housing as people only ever talk about all the money they made on it. Although this isn't directly from the sellers mouth so they may spin it a different way.
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As mentioned in one of my previous post one of the guys at work is buying a place with his partner using the money from his parents as a deposit. Turns out they are now buying a place owned by his partners parents.
From what i've been told and checked for myself the place was bought by the parents and the parents friend split 50/50. It was bought for 104k in 2011 and they are selling it to the guy at work and his partner for 90k. The parents are taking the full hit of the loss and the friend is getting their half of the money back. The place was being rented out and the tenant has now had to vacate (i've no idea how much is was being rented for).
But still its quite a loss for the parents, they spun it as being an early inheritance. So not only have they stumped up the deposit they've sold the place at a loss as well. Apparently they are also selling their main residence and moving to cornwall.
Shows how bad it is though when they have to stump up the deposit and sell the place for less than they bought just to house their child.
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I recently had a conversation with someone who is an immigration offer. He said even if we closed the borders today and didn't let a single person in there would still be an several years worth of backlogged work to get through.
He also said a lot of illegals get into the country, then give themselves up when they want to go home so they get a free ride back to their home country then come right back over again. Apparently only 1 in 10 cars at the border are checked so getting through is quite easy you just have to be unlucky to be that 1 in 10.
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Its probably just the journalist not knowing the difference, in the same way they all confused national debt with the deficit.
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What are are you buying in ?
What is the price of the house you are buying like compared to historic sales ?
What interest rates on the mortgage are you getting ?
Any links to similar houses sold or similar houses up for sale ?
Not sure what you mean buy buying, i'm puting down a 10% deposit then mortgaging the rest if thats what you mean.
Interest rate is 3.85% 2 year fix, a bit of a gamble but then so is buying a house full stop.
Not sure I want to post links to similar houses as it might give the location away as there are not many houses in the road and they don't come up for sale very often.
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Downside...I know you're reading !!! ( it was his thread that someone called me and bruce paranoid . )
Sorry dude if I unfairly accused you of being a lying estate agent type poster, I just dont see why anyone would choose NOW to buy a house...last January, Yes, 2009/2010, defintiely, right NOW, no way dude.
Maybe you can tell us what you are feeling about the housing market and how your and your HTB colleagues who are also buying now feel. What is really going on out there ?
I'm genuinely interested if you posts are genuine and you can share some facts with us.
BTW, when it comes to buying anything worth several 100 thousand pounds, where we clearly have a rigged market...everyone should be paranoid.
I've bought because needs must, I know the current situation is crazy but i've factored in interest rate rises etc and know I can afford to pay the mortgage if rates went up. I also have a girlfriend who's nesting instincts are going through the roof and I wanted a place to work on my car as its a hobby of mine so needed somewhere with a decent sized garage. This has been the main factor in buying a place. I've been looking for about 2 years and seriously looking for about 18 months before find the current place.
As for my feelings on the market I really don't know, i've been following this site since 2008 (didn't register until a few years later) and I am just a bit fed up of waiting for crash that always seems around the corner but never comes.
As for my work colleagues, I think they are naive and have fell into the housing propaganda of "you cant lose on houses" so they have no fears like we do. Hence why they are ready to accept htb etc. I could educate them but it usually falls on deaf ears and I like to keep my nose out of other people's finances. If they get burned then thats for them to deal with (harsh I know).
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http://www.housepricecrash.co.uk/forum/index.php?showuser=27168&tab=topics
3 weeks ago downside was investign in gold...now he's borrowing to buy a house.
make your mind up.
Firstly the gold thing was me just getting a feel for it I only invested £20 hardly bank breaking. As for house buying I'm not using help to buy and would shy away from using it. The reason I never mentioned specifics on the house I am buying is because it wasn't ment to be the focus of the topic. Since you asked for it here it is.
The location is Bedfordshire and its about 7% under the last sold price for the same house in this road which was 2011, which was lower than the 2007 price. All in its about 14% under 2007 prices. So I'm hardly stoking the bubble.
Its also cheaper than houses of smaller size in worse areas which is why we went for it.
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It mainly seems to be the Count or Bruce. I enjoy reading a lot of their comments but it does make me laugh when they come over all paranoid!
Although, I think I may have called someone a EA once before too... 
As I previously said, I wish you all the best and good luck in you new home. Hope you still find time to drop by HPC once in a while, between all the decorating!
Thanks, I didn't think me buying a house a house would this much controversy it wasn't even ment to be the focus of the thread. As for visiting this site its practically part of my morning routine so I will still return. I enjoy reading reading the comments on various posted threads. I might stick to lurking though.
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Count, you think everyone is a IV or an EA! If you get out of the Southeast, (esp London!) there seems to be odd areas where the last 'correction' (I use the word loosely, as I think the only place to have a true correction was NI!) was deeper than others, certainly if you are on a good wage. Overall affordable is still too low, and prices rises, again, are clearly out pacing any wage rises, so the situation is totally unsustainable long term. Anyone buying at the moment needs to understand how much their mortgage payments could jump up over the duration of the mortgage and that a sustainable price to income ratio will fall back into line sooner or later! So no HPI for a long time, unless we have a real correction or wages take off! (fat chance!)
Anyway, good luck Downside. I hope you have long term plans to deal with any fallout from the UK's crazy housing market and enjoy your new home.
It does seem like anyone who even mentions they are buying a house is now classed as hacked or a VI. I visit this site every day (its my morning read during breakfast) and have been on this site for a long time. I can assure you its not been 'hacked'. By right price I mean its cheaper than anything we've looked at for the size.
Also its just outside the south east where prices are not as mental as in London. We all want cheaper houses and its not that i'm fed up of renting its just I need something more suits my needs. This house is also in my home town which was out of reach until this place came along. Its a probate as well and is several thousands cheaper than the last sold price in the road which was in 2011.
I have nothing to gain by trying to make people buy. Besides there can't be a crash unless people buy houses for less than the previously sold ones.
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Enjoy Spain, it's a lovely country. I'm surprised Help To Buy is available to anyone lucky enough to escape the UK.
All the young people I work with have decided house buying is pointless at the insane prices we currently have, they've had no pay rise for 4 years and were told today they'd not be getting one this year. A continual trickle of peolpe being made redundant.
I think maybe the people I work with a just poor thicko's though, they are all Cambridge graduates so I suspect those old Uni's are churning out any old cr*p these days.
Good luck though, I suspect you'll need it.
Ha ha its not in spain (I wish!) its in the uk but is close to both our work places and we can walk to both our parents in 10 mins plus decent schools in the area. Its taken us a year of looking to find it but was worth the wait.
Its funny cause the earlier in the year I was talking to some other colleagues who are more my age and they were all agreeing about how insane house prices are and how they will be unlikely to ever buy a house. It seems the only way to buy a house is to be gifted the deposit or use a government scheme to fund it.
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I'm currently in the process of buying my first hours (right price, perfect location and ticks all our boxes) so have been talking to a few colleagues in the office about house buying etc.
Turns out there at least 3 people looking to buy or buying a house using the help to buy scheme! Now I personally have avoided using any government assistance as I disagree with their housing props.
First guy is using help to buy 1 to buy a new build one bed flat with a 20k loan from the government
2nd guy has just proposed to his missus so is looking to move out of his rental and needs his own place, he said he has hardly any savings so is using HTB 2 to top up his small deposit
3rd guy his partner is moving out of his parents as they are moving away so they are looking to get a place together, got the usual renting is dead money blather. His partners parents are giving them the deposit to buy their own place and are also using htb to top up their purchasing power.
I never thought I would find someone using help to buy as I figured it didn't make financial sense when you read the fine print but clearly not everyone is as fussed as I am.
On top of all this my boss was telling me how using the housing ladder he bought a 1 bed house on his own, then traded to a 3 bed semi, and now lives in a 4 bed detached and how amazing it all is. But then went on to say how us youngsters want to just jump straight into a 3 bed semi and expect it all at once. He seems completely clueless to how times have changed and how the ladder doesn't exist anymore.
On the upside everyone got a bonus this year to make up for 2 years of no wage increases (i've only been here less than a year so didn't experience that fortunately) and company profits are up.
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They would find it a lot easier to sell if the inside was better presented. There seems to be no co-ordination at all. The colours are all mismatched and you can't tell one living area from another.
The least they could do was make it look tidier cause at the moment it looks like a bunch of squatters have moved in.
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It won't make you rich betting with £20 I promise you that.
Its was just a thought, I've never done anything like this before so figured it would be a good way to get my toes wet so to speak.
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I have a bullionvault account and I'm charged 'storage' on my gold and Silver assets. At the rates on the FAQ's.
In terms of;
£20 here and there would be a waste of time. Trading gold and silver short term is a mugs game! (I think it's called gambling
, you can do that at the bookies in town. )I buy gold and silver as long term saving/asset insurance. I would recommend you do the same but only when you have got rid of any other debts you have. Like a mortgage for example!
Hope this helps.
I was just going to try it for a bit of fun, just invest an initial £20 and see if I can make any money and then reinvest anything I make. I can afford to lose £20 so it wouldn't be a big deal if I did. But then I'm terrible at gambling so maybe I shouldn't
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Double post ignore.
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Well thats good news, thanks. Just trying to make sure I don't have to pay for something I don't use.
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Don't hold me to this but if you've got nothing to store in your account why would they need to charge you anything. Its in their FAQ on their site I think.
Thats what I was trying to clarify, I read the FAQ's where it tells you how much you are charged annually on what PM's you hold etc. I wasn't 100% on if they still charge you just for having an account even with nothing in it just cash.
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Hi,
I'm looking at opening a bullionvault account and was wanted to find out a few things about it before I did. I tried a quick google search but couldn't find the answers I was looking for. So what I want to know is.
If I open a bullion account and get it validated etc with my bank then would I be charged for having the account even if I had no gold or silver?
I don't want to be in a situation where I have an account i'm not using but still being charged for it.
Second question is, I was looking at just starting off by buying and selling small amounts, i'm talking £20 here and there and hopefully building it up. How feasable is this or would be it be a waste of time?
Lastly I've not done anything like this before have been watching the commodities market for a while so if anyone has any tips or help they would like to give me it would be be appreciated.
Thanks in advance.
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Small garages are not a new thing. Our rental which was built in the 70's has a garage in a block and my girlfriends Suzuki Alto wont go in it properly. Well you can park in there you just can't get out. There is only one person out of the 12 garages that parks in it and he has a garage on the end which is a few inches wider.
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In the light of what you're seeing, would it not be better to wait?
We sort of are. The only reason we went to the estate agents is there was a repo that was quite cheap compared to everthing else so we put in a low offer but it was rejected so are just biding our time until something else comes along. We are ftb's with a years contact on our rental so are in no rush to move.
Estate Agent Just Sent Me This
in House prices and the economy
Posted
This tactic doesn't always work. A friend at works mum sold her house a few months ago and before it was advertised had a few people look at it. One person offered full asking price. His mum then rejected this on the basis that if she got full asking price without it being advertised then surely its worth more on the open market. Needless to say she ended up selling for about 5k less than asking.