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Boom'n'Bust

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  1. http://www.theaustralian.news.com.au/story...9-25658,00.html Slide to negative equity Anthony Klan September 06, 2006 THE scourge of negative equity has spread to Brisbane as the property downturn continues to slug investors and the lower end of the housing market, but the Perth market continues to fire. According to Australia's largest mortgage broker, Australian Finance Group, falling property values in parts of Brisbane has led to an increase in the number of owners with mortgages bigger than the value of their homes. "In some of the outer Brisbane suburbs we are seeing valuations fo
  2. Overvalued' housing market to cool next year http://investing.reuters.co.uk/news/articl...OUSING-POLL.xml
  3. hi there mate, I asked him and he said its Band B at the moment. This band values he house between £40k-£60k, which he's happy with as it keeps he c-tax down. But he's concerned that the new value maybe a lot higher as house prices have risen and if his house was valued at £130k, he'd be f**ked!!! Any advice?
  4. Hello, I need some advice for a friend who's bought a property a year ago. He purchased it for approximately £130,000, but all along his council tax has been low as his last council tax valuation in 1993 was only in the region of £40,000 - £60,000. His situation is that he has received a letter from council asking for permission to revalue his property from the outside, in order for them to calculate the help he can get with his rebate etc. But in my opinion its just so that they can raise his council tax band. My questions are:- 1. Can he decline permission to revalue the property? 2.
  5. http://www.bloomberg.com/apps/news?pid=100...FuyKA0&refer=uk U.K. Mortgage Approvals Fall, Signaling Cooling Housing Market
  6. I might as well go to another forum, as no one seems to know the answers...bye
  7. some people don't bother as its the attitude "why waste money, when I know my job is safe" Anyway isn't this going a bit off-topic...couldn't someone help me answer the questions i asked?
  8. lol!!! Now I shouldn't be laughing..sorry..okay lets get serious mate...we are going off-topic here and i still need a few answers and would be grateful if anyone can help...here's the unanswered and a few more questions once again:- 1. If he put in 20k after 2yrs into his IO mortgage, and lets say that the interest rate at that time is still 4.79%, would this actually bring his mortgage payments down to approx £240pm or would they still remain at £320 for the entire term of his IO mortgage? 2. Once his 2yr fixed period expires, should he 1st pay of the 20k and then fix it again for a length
  9. Thats not true mate..the DWP do pay the mortgage, but not for the first 10 months after you lose a job and here's a link from a law website:- http://www.compactlaw.co.uk/free_legal_inf...g/privhf13.html You may also be entitled to help from the DSS with payment of the mortgage interest if you are out of work or on a low income.
  10. Thank You for your fast reply guys!!! Its really appreciated!!! @ terrified - I'm sorry mate, but i think you misunderstood my question, which was that do DSS only help people struggling on REPAYMENT mortgages or do they help those who have taken out an INTEREST-ONLY mortgage too? He will be taking out cover for income protection as its not official about job losses. @ www - LOL! I'm sorry too mate, but i think you also misunderstood my question, which was that if he put in 20k after 2yrs into his IO mortgage, and lets say that the interest rate at that time is still 4.79%, would this actua
  11. Hi there, A close friend of mine has taken out an Interest Only mortgage without thinking and has just been told by his collegue that the employer maybe laying quite a few people off. This of course has got him really worried and he's started to think about what is gonna happen to him if he lost his job in future. He broke down in tears as he couldn't cope with the thought if his home got repossessed. For Your Information: 1. He's bought a house for £100k just a few days ago (crap area, so prices here are cheap). 2. He has an interest-only £80k mortgage, fixed @ 4.79% for 2yrs after whic
  12. http://news.independent.co.uk/business/new...ticle484458.ece Housing bubble fears grow as prices hit record high
  13. http://money.guardian.co.uk/news_/story/0,,1775037,00.html Rate of house price inflation doubles in one month
  14. http://observer.guardian.co.uk/business/st...1774166,00.html Markets booming, but jobs disappear
  15. http://www.timesonline.co.uk/article/0,,2095-2168288,00.html 1,000 jobs under threat at Vauxhall’s Ellesmere Port plant
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