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JayneyJR

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About JayneyJR

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    HPC Newbie
  1. Hi everyone Don't get the opportunity to post very often, but just had to add this link. Some interesting discussions going on regarding HB, but I was especially interested in the comment about Nat West refusing to lend to landlords operating in LL Licensing areas. My link
  2. What a horrible time to go through - on so many levels. Well done to you all for getting through it. Thank you for the words of wisdom/experience. Guess we will just have to see what happens in the coming months.
  3. Like this idea very much - you've cheered me right up after my three-glasses-of-wine negative posting last night! Good old Rocky - it's hard not to be inspired by those films.
  4. I posted on here a few months ago about getting spooked over buying a house after HSBC gave us a particularly 'low' mortgage offer. We are still looking daily on RM but not serious about buying at these prices. However, I have grave concerns about how things will go even if there is a significant drop in prices. Anything within our potential budget (under £150k) around here gets snapped up pretty quickly. We went to look at a house today (open day) in a local village that had an asking price of £155k. It needed modernisation. The place had a substantial amount of damp, cracks in the walls, and was quite disgusting aesthetically speaking, yet it was swarming with investors. I even bumped into someone from the local mother and toddler group I go to who was looking at it as a BTL investment. This rattled me somewhat and I said to the agent when we were giving our details that we didn't stand a chance against investors, to which she replied, well I don't think so as they will be looking to get a bargain (like us mortgaged FTBs with our hard-saved deposits can afford to pay more!). Anyway, needless to say I left feeling pretty depressed. There just seems to be so much ingrained greed with people seeing property as thee way to go, that I really do despair for average families like us. We desperately need something to hold back the BTL wave. A return to a house is a home. I don't know what to do any more. I swing daily between buying a chunk of land with the hope of getting PP for some cheapo log cabin in the future (though most land has a greedy claw back clause so little hope there) and maxing out the mortgage on a much better house on a larger plot. But then at the back of my mind I'm thinking if we got a big mortgage now we'd have no life and be extremely vulnerable to price shocks. To get something equivalent to what we rent (even with all its many faults) would cost us at the very least £300 per month more at today's IRs, which is a fair bit when you have a dependent. So we stick with renting, which financially is the less of the evils, but emotionally is not where we want to be.
  5. Yes it's crazy. The other lenders were happy to take into account our child tax credits even though from the new tax year we would not be eligible. Hopefully we'll see a return to sanity, which (fingers crossed) will lead to some downward pressure on prices.
  6. Thank you. Yes it was a close escape. Never thought I'd be thanking a bank though!
  7. I know it's shocking! A colleague of mine used to work in banking and she said they never used to take benefits into account.
  8. HSBC actually 'saved' us from buying a house recently. I had gotten quite down about everything after this latest Government backed mortgage for new builds scheme and started to wonder whether prices would really come down to a sensible level. Our rented house is also pretty sub-standard, mouldy, and cold ,which has been getting to me too. So anyway we decided to just go for it after my bank and a host of other lenders were willing to lend us £170k plus our deposit. We were all set to make an offer on a family house when my dad urged us to get a quote from HSBC as they were known for their award winning mortgages. I rang them and they would 'only' lend us £112k. When quizzed they said it was based on affordability criteria (I did ask about house prices!). Also they do not take things like child benefit into account (others did) and asked questions about our pension provisions, etc. When I told the E.A I had gotten cold feet because of HSBC she said not to worry as she gets that a lot and that HSBC are just really mean with their salary multiples. It really refocussed me on how overpriced everything is. Can't believe the Vested Interests almost sucked us in when I have been a bear for over 5 years!
  9. Apologies - deleted a quote by mistake. Probably should not be computing either!
  10. A basic part of driving is keeping pace with traffic. If you can't keep pace with traffic, or aren't comfortable keeping pace with traffic, then you need to either take lessons until you are able to keep pace safely or restrict yourself to roads with a 50mph speed limit, or stop driving altogether. Put simply, if you can't keep pace with traffic, THEN YOU CAN'T DRIVE. I'm not ageist, but I should draw attention to some recent studies. It showed that some people in their 60s had reaction times similar to someone who had had 3 pints of beer, and that they slowed down to speed at which they felt comfortable driving. Some of the pro-OAP groups said this showed older people were safer drivers. On that basis, you should be able to drive after 3 pints of beers, provided you agree to keep your speed down. By the latter of those 2 statements, it is clear that the first statement is ridiculous. It's not a matter of ageism.... either you can drive, or you can't. Crikey! I'm 'only' early 30s! I thought 55-60 was keeping up with traffic in the slow lane. Best surrender my licence now!
  11. I must say raising the limit frightens me somewhat. But then I'm one of those annoying motorists who does 55-60. When I owned my classics (Mark II Escort and Mini) 50 was my max. The Mini seemed to become unstable at 70 and besides I felt like I was doing a ton in it even at 40! I know modern vehicles have better brakes, are more responsive, etc. but I think this in a way gives people more confidence to push it that little bit more. There are a lot of bad drivers about (probably me included on a bad day!) and giving them permission to drive even faster is a worry.
  12. We had this problem. If you already own a non condenser dryer then you can purchase a separate condenser box that you can put the hose into. I have however heard some bad reviews about these. Or you can aim the hose out of an open window which is what we do. Ours is in our porch and we have to keep the window open all the time anyway due to condensation problems (luckily we live in the sticks in a low crime area, although we'll probably get burgled now I've said this!).
  13. Oh wow! Would be great if prices dropped this much in East Anglia though they are coming down slowly. I will show him this. Thanks.
  14. This is for all those who feel their morales, opinions, situations, etc. are so far removed from the general consensus that they may as well be renting on Mars. A small selection of my personal causes for head-banging: 1. A home-owning colleague who said (after I told him I could not justify the eye-watering repayments on an overpriced house if Interest Rates went up) “Why don't you buy to let just to get on the ladder? They say prices are going to rise by 20% in the next 5 years”. BANG... BANG... BANG... 2. Another home-owning colleague who wants to buy a house with their partner and triple their mortgage in the process. Rather than sell the partner's low mortgage home to fund a joint deposit, they intend to hold onto it and rent it out. They plan to put it on IO and release equity to fund the bigger house purchase. They don't want to sell as apparently the building of a new access road in the area will send the house values “through the roof!” BANG... BANG... BANG... 3. My darling husband, who confesses to having no understanding whatsoever when it comes to the economy, but frequently says house prices will never come down. When challenged he always says “I just know they won't”. BANG... BANG... BANG ... 4. My husband's colleague who was complaining about the £100/month mortgage they now had thanks to an extension they had built on the house they bought just before the boom (In front of my husband's best friend who has a £1000/month mortgage on a comparable house bought at peak). BANG... BANG... BANG... Oh I could go on forever. However, I'd like some brain cells left so as I can fill out the mortgage application when the time is right. Here's hoping...
  15. Thanks for this and for everyones replies. Very interesting indeed. Was hoping to participate in discussions but frequently find with a 'sleep is for the weak' toddler that evenings vanish.
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