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House Price Crash Forum

TeaAndToast

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About TeaAndToast

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  1. Hello, I seen somewhere that the land & registry folk keep a track of property prices and post these 3 months after the sale. Does anyone know where to find these or the search engine? Kind Regards
  2. Both me and my partner are approaching mid 30's so really feel I need to leave the folks. We have enjoyed renting before, but couldn't make it a home. Yes we would be renting half, therefore if prices to fall 5% we are only losing out on half the money, perhaps 4K max. But we would have lost 15k from renting for 3 years in a place we could do noting too. We could also save in that time and buy part of the other half at the lower property prices after having the house revalued. Perhaps we are silly in the way we are thinking, but we can't see ourselves being stung to a significant degree, or are we missing something?
  3. After many hours of searching, I have come across 2 properties that have been recently refurbished with new kitchens and bathrooms. They are 10% below RV. I will spend the rest of the evening and inquire at the end of the week.
  4. What I was asking was... were people having rateable values accepted when people are asking much more for their homes. I read the posts doccyboy directed me to. Some were for, some against, and some neither for or against. And thanks for the encouraging words.
  5. That's what I'm hoping Paul. In my case it would be 3 years due to a bad mark on my credit history. So at least me and my partner can own a bit, save the rest to staircase and make the home your own, which I don't feel you can do whilst renting. This is all up to assessment, so I've a lot of if's, what's and buts.
  6. Nice going there Paul. I feel the ones I have looked at are set at unrealistic prices. I know we should be aiming marginally below RV, but should I even ask if it's around 20% below their asking price. We were also going co-own, not sure if people frowned upon when undercutting.
  7. My partner and I have searched property pal and news without any success in our price range. We have seen a few houses that people are asking 115-120K, but are rateable at around 97k. Have many people been having success offering rateable values when people have had their house valued at quite a bit more? Thanks for the read.
  8. Been going together a long time. Both work in health with no expectations of closure. Both will pay 50/50 e.g. house costs £400, so we would put £300 each in per month, saving the rest for stepping up. Kids or health, who knows. But paying £300 each per month would not stretch us. We don't live a lavish lifestyle to be honest.
  9. Not sure what IVA is but not bankrupt. Basically got a red strike when I finished university some 3 years ago. Stays on record for 6.
  10. Shouldn't be buying? The thing is it will be based on one income and not two, due to a bad mistake a few years ago on my part. I earn a good wage but will not be able to apply for a mortgage for about 3 years. Thus we have the money to pay off, but not just the acceptability level. I would never pay above RV, some sellers are deluded, but some are competitive.
  11. The buyer would still need a mortgage for the full amount, if we owned 80% then the 20% would go to co-own at the current value. As far as I was told by UPS, we could go for any house they had on the market, so prices should not be inflated. I would prefer to remain at home than rent to be honest. I was hoping prices would bottom out by summer 2013, I've no crystal ball mind, tho I did predict the property crash..... I do not think its open-ended as you select a house, agree a price through negotiation and then forward this to their office for assessment. I guess you could always pull out at this point, but wouldn't want to do this as it could impact on future applications. In the Newtownabbey/Coalisland area most houses I had a look at last night were valued above the RV, to a point of around 10-20% above RV. So a 15-20% under RV is a bit of a push id say. Thanks for all the communication, helps a lot.
  12. I have read many of the posts in the links. I can see where people have lost due to the decreasing house prices, but they would have lost out anyhow, and even less so with co-own. We have rented before and did not want to go down this route again. If we got a house at RV value would it not be a good time to jump in sometime soon if we thought the market was flat-lining? Otherwise we are just paying out money, if we co-owned at least 50% could be ours. My wage would also be saved to staircase.
  13. Hello, Many thanks for all those who have contributed to this forum, some great posts. My girlfriend and I have been thinking about going co-ownership because my past credit history is bad, and hers is quite good at 950 on Experian after new car finance. Our small deposit was wiped out by an act of nature. I can see the likes of Ulster Bank not requesting any deposit at 50% with co-ownership. But do they frown upon this when assessing? The co-own tool says we are able to go to 100K at 50%. Should we apply now or hold off as we could pull like £15,000 by Aug-Sept.
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