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Being_Patient

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About Being_Patient

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  1. Cahoot website finally came good mid morning. ATM transactions also working; absolutely no apology from them for the inconvenience caused...
  2. Cahoot website still not allowing on-line access this morning, throws up "General System Error". Over on MSE Santander and Abbey customers seem to be having similar problems (http://forums.moneysavingexpert.com/showthread.php?p=35959561#post35959561) Will be voting with my feet at this rate...
  3. After Barclays yesterday (http://www.bbc.co.uk/news/business-11051440) today it seems to be Cahoot's turn to be suffering from a "glitch". If you go to www.cahoot.com and click "Login" all you get is "service is suspended We are currently updating our systems. This takes approximately 5 minutes. Please wait until the cahoot service is resumed. Thanks for your patience". This at 23.25 this evening, and its been going on all day as far as I can tell. But it's not just a website glitch; got rather embarrassed this afternoon trying to pay for petrol with Cahoot debit card, it was declined, so was the wife's (joint account). Credit cards were at home, fortunately we are regulars, and the guy let us go home without fuss (paid later with credit card from another bank). Cahoot of course were part of Abbey, now Santander... Nothing yet in the media concerning this; don't they know that folks might think the worse when this sort of thing happens during the ongoing economic crisis?
  4. Perhaps I ought to add a little detail. One reason we got such a good deal was that it was the last house on the development to sell; it had "sold" previously, but the deal fell through. Being the last one Persimmon were less sensitive about the sale price affecting the price of others... So very little chance of a "Brummie neighbour" getting one cheaper. We paid just under the 3% stamp duty threshold, that gets you a lot in Lincolnshire, try detached 5 bed double garage with large garden and rural views...
  5. The trick now is to ween myself off HPC!
  6. Been stalking the market for years having been caught on the wrong side of the last house price crash, but today we completed on a Persimmon new build in Lincolnshire after 14 years of renting. We think we are getting a good deal as the price is 26% below that of an identical house sold last spring. We are well aware that prices might take another dip, but this is the last house we intend to buy until the retirement bungalow beckons, so are not too bothered.
  7. The text read as follows: My reply: Given the normal IQ of an EA I'm not expecting them to understand much of what I said...
  8. I've been watching the Lincoln and surrounding market for a while; 215K sounds an awful lot for a 3 bed in an outlying village. Methinks they are kite flying... Many 4 beds are going for less than 200k...
  9. Below is the text of an offer justification letter I submitted to an EA last week: During the viewing we had conversations with the vendor along similar lines to our justification. The EA passed the offer on verbally, the vendors declined to be sent the letter (allegedly). Our offer was rejected, no counter offer was made. However, between the EA and ourselves we have had an impact on the mind-set of the vendors as, 2 days later, they reduced their asking to "offers over £200,000". The EA has been unable to clarify how much over they mean. Now they may get lucky and get an offer over £200k, in which case a new benchmark will have been set for the area, which will influence the asking price of other properties, so we are quite content. Meanwhile our offer remains on the table... The next step we think is for their mind-set to adjust to the idea of a price under £200k, in which case we might start to negotiate. This might take a few more months...
  10. My experience of EAs over the last few months matches that of others in that they are still very much seller orientated. IMHO in this market they need to become buyer orientated (which is basically what you are saying), ie focus on buyers, not sellers. I have the means and am motivated to buy a house, why aren't EAs falling overthemselves on my behalf?
  11. How about a combination of 2 & 3? That is let her get repossessed then buy the property off the bank. If successful you pay a realistic price and she gets to stay in her house. She will of course still be liable for the outstanding dept (unless declared bankcrupt). You will have bought BMV; if you have trouble with that then use some of your STR fund to pay off her dept once she is paying you rent. Food for thought?
  12. Lincoln Update: I have been tracking the market for the SE outskirts of Lincoln for some time waiting for the right house to come along at the right price in the right place... Here are my observations: The recession has yet to be realy felt in Lincoln. Hence, although trending down average prices are not yet down as much as some other areas, maybe only 10% off peak so far. Many vendors (who had high expectations) have withdrawn from the market (over 50% of those properties I am tracking). Most of those remaining on the market are not shifting unless prices have been reduced to realistic levels. Properties new on the market are at more realistic levels, those that are competitive are selling. Newbuilds have, in most cases, been reduced; builders are starting to compete with pre-owned, ie the new-build premium has largely been removed, or can be negotiated away. EA's seem less in denial than some of their clients. Some hard to shift properties have seen large reductions. Regards
  13. Noticed in Lincoln this afternoon that JJB Sport have "Closing Down Sale" notices plastered all over their windows...
  14. So the economic model that has stood us in good stead in various guises since the end of the Depression appears to be well and truly broken. But what will replace it? What will the economic model that takes the globalised world forward look like? Will there be a place for fiat money, will there be a place for gold? Will "money" as we know it still exist? Clearly we are entering uncharted territory as governments walk the economic knife edge...
  15. Haven't seen a thread on this yet. I figured some folks might like to read and offer their sympathy... It seems that some City types are having a hard time of it...welcome to the real world...
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