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Van

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Everything posted by Van

  1. Nice drop. I'm pretty sure this is because of the rush for £1m+ properties peaking at the start of April was distotred the market (+ve before, -ve after).
  2. I was over in Dublin last month and couldn't believe the general cost of everyday things. No wonder their economy is well and truely fcked. Ireland still has more to fall. No housing market is at a bottom when real interest rates are still negative.
  3. Realistically wages won't go up 20% in the next 5 years in line with inflation, but they might go up by half of that or more. Freetrader's charts have shown that house prices vs RPI vs Income is comparable between the last slump and this slump. Buying at the bottom will always be hard despite cheap prices - that's what makes it a bottom. People will have squeezed incomes, unemployment will be high, and credit will be highly restricted.
  4. If there's no written contract then there is nothing binding, and I would advise him to just turn on on the doorstep tomorrow morning with a gang of hired meatheads.
  5. Sorry to hear that, but in a way it is fortunate, as you are very early in the process and can easily change or delay your plans without having lost too my money, until your hubby gets back on his feet. There will still be nice houses to buy when you are next looking.
  6. I actually agree that this is the likely scenario for UK housing now. 5 years worth of 3.5-4% inflation will roughly work out as a 20% fall in real terms anyway, plus a small nominal fall will take us to 25-30% for the "cheap in real terms" bottom around 2015-2016. If interest rates are raised then the timeframe will be shortened but the nominal fall will be greater.
  7. I'm look at Wimbledon: http://www.rightmove.co.uk/house-prices-in-my-area/marketTrendsTotalPropertiesSoldAndAveragePrice.html?searchLocation=sw19 Transactions have fallen off a cliff. Many other SW postcodes are the same.
  8. I always liked the Hometrack. It's a much better barometer of the market than Rightmove, imo. The message seems to be that supply is about to increase dramatically over the summer.
  9. The property should be taken off the market with the proviso that the survey is carried out within 2 weeks and proof of finance is provided. If the buyer hasn't managed to get a mortgage in principle and get the survey booked within this timeframe then it would be fair that it continues to be actively marketed. Can't really say fairer than that. Agree that most agents don't like gazumping, but often properties are multi-agency and each EA is trying to secure the sale & comission, and comission structure may not be as simple as a fixed %age of the sale price.
  10. You mean that someone's outbid you on it.
  11. Land Reg figures are catching up nicely with NW/HF now.
  12. I cannot emphasize enough - if you make an offer, be very specific that it is on condition that the property is taken off the market immediately. It is worth getting a friend to phone the EA later in the day and asking about the property to check that it really has been taken off (if your offer is accepted). As I say, there is a very bad practice that EAs and vendors adopt that they continue to market the property in the hope of attracting other bids, as the first bid is used as a marker.
  13. My solicitor's fees are £595, but there are extra costs too. Here's the breakdown I've been quoted: Searches 250 Solicitors 595 Indemnity 50 CD ROM 15 Acting for Lender 75 Bank charges 33 Land tax admin 75 VAT @20% 168.6 Land reg fee 280 Land reg search 4 Bankruptcy search 4 Total: £1550 This is not including stamp duty or the survey cost.
  14. Don't play the EA's/vendor's game. It could be a legitimate other interested party, or it could be a phantom bidder. Either: Drop your offer back to 190k OR (better I think): Go over the top, get into a bidding war and win, watch as their greedy little eyes spin, and then tell them to "f*** off"at the end of it and tell them very clearly that if you mess me around I'll mess you around.
  15. Offer asking price + 10%. Get into a bidding war with the other fictional buyers, and keep increasing your offer until the buyer picks you. Pretend you really want this house and watch the EA cream his pants as he sees £££ flashing in his eyeballs, and then pull out of the deal at the last minute. That'll show them for wasting your time.
  16. Women have had an unbelieveable ADVANTAGE in the workplace for many years now, despite the wailing protests of sex dscrimination feminists. As a man who wants equality for my gender I won't be happy until 50% of claimants are are made up of women.
  17. If he has a family to support then the BS could have taken that into consideration. BSs are generally tighter on their underwriting than high street banks. I'm sure he would be offered more from many other lenders. 10% isn't a big enough deposit for a competitive rate, though. Better rates only really begin with a 15% deposit or better.
  18. we've seen the peak in inflation IMO - 4.4% but that does't mean prices are going to come down. We'll still run ahead of target for a long time and everyone will get poorer in the meantime (just at a slightly slower rate).
  19. I used KFH Financial who have access to the whole of the market (same as Alexander Hall). Their fee is £399. Avoid brokers who are not whole-of-market. They will all try to sell you extra life assurance - do not feel pressured to take this.
  20. Just sounds like another crooked letting agent. They are slime and will tell outright lies. As others have suggested, suggest to the landlord that he deals with you directly. Better for both of you.
  21. He learnt that you could redistrubute income through taxation, boost the economy through borrowing and mistook it for growth and wealth generation.
  22. Now the ECB has begun raising, Merv has no choice but to follow. Yeah, I reckon May, Aug & Nov provided oil prices don't spiral right out of control and push us back into recession. Either way there's headwinds for the UK property.
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