ryanjw

I have seen an interesting discussion on msn http://boards.msn.com/UKMoneyboards/thread...sparam=Page%3D1

I could afford to buy a terrace on my own but it would be 4.2 x my present income. Im in the northwest and it aint quite as bad up here.

Ok heres my situation Ive been lurking on this site for over a year now and come back every now and then. Im 28 and live with parents. I have savings of 30k to my name and really need to move out. I am considering all the options: 1. Live in a seedy 1 bed council flat in a bad area. Dont want to 2. Rent a shared house - Dont want to. Like my privacy. 3. Rent Privately. Dont want to pay someone elses mortgage. At £350 a month I could get my own mortgage for this. 4. Buy a house. Would have my own place and this would be the same cost as renting privately so to me this seems like the

What is happening with the Home Information Packs are they still going ahead? I thought they were being shelved because they would cause too much upset in the market.

I know this could be wrong but after all this time wont`t there be millions of pent up FTB`s who will all buy at once if prices come down? They would go straight back up again wouldn`t they? or is this wrong.

I dont understand the way the early redemption penaltys work. Yorkshire building society says the following on their site 5% before 31/05/07, then 4% before 31/05/10, then 3% before 31/05/13, then 2% before 31/05/16 If the product is repaid in full or in part, or transferred (in full or in part), an early repayment charge is payable as described above. However, overpayments (monthly or lump sum) up to a total of 10% of the outstanding loan per year are allowed without charge. Any amount repaid over the 10% limit will incur a charge of the percentage specified on the excess amount

Alliance and Leicester are a bit generous too

In my town of Warrington in the Northwest you can get a decent 2 bed terrace for 85k. Even cheaper in St Helens nearby.

Could I just change the subject for a sec. Alliance & Leicester`s 5 yr fixed rate says it allows a 10% overpayment facility. Does this mean you can overpay by 10% every year or just 10% over 5 years? When would a fee be enforced? I don`t understand the way the penaltys work

Try the liverpool riviera LINK

i agree mate. Alot of opinions on this site are wishful thinking.

Agreed Steve. I`m not going to sit around at home for another 10 years waiting for something that may never happen. oop in the Northwest (Warrington) I can get a modest terrace for 84k so its not that bad with a deposit of 20k is it?

interesting. I cant see any difference.

So the rates have been held again. What does this mean for house prices? no change? What would happen if the rates go down, will this prolong the misery of house prices? Alternatively what happens when they go up?

My advice is - if you see a house you like and you can get away with borrowing X 3.5 your current salary then do it. You could be waiting forever for this mysterious crash. I certainly dont wanna be stuck with parents for another 10 years. Do what you feel is right. I`m not saying waitings wrong either.

In America they have 40 year mortgages 25 years is bad enough. Just imagine. LINK

When will this happen oop north? Soon I hope!

There is an article in the observer saying FTB`s are entering the housing market in droves. It states that applications for mortgages from FTB`s rose from 10% to 20% in december. Do you think this could help prolong the high prices in the UK? I think its the low interest rates that are attracting FTB`s LINK

Hate to tell you but the article you linked was dated 27.08.2004

I`m sick and tired of waiting as well and I`ve only been looking for 4 months! People on here are very optimistic, but the truth is it could take years before theres any significant correction.

I think interest only mortgages are rubbish. If you can afford get a repayment mortgage. www.Portman.co.uk offer 4.69 for 5 years fixed. As do yorkshire building society.

You`ve got balls IMupNorth Prepare for the barrage

This is depressing. If you knew that prices were going to continue rising/levelling for another 10 years, would you all consider buying now or renting for another 10 years. Personally I could`nt wait that long.

Does anyone know where I can view a bigger copy of the house prices 1952-2006 adjusted for inflation graph thats on the front on HPC.

Lost £1000 ish after sep 11th bombings. the FTSE plunged. Made it back 4 years later tho