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House Price Crash Forum

thegorilla

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About thegorilla

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    HPC Newbie
  1. No need! Just go to www.google.co.uk/compare/mortgage which is (probably) the same system my IFA used. When I got my mortgage there didn't appear to be a restriction in lenders - just the rate they charged, which obviously made some less competitive. Here's a clue for you HPCer's - the bigger your deposit the smaller the rate and the more lenders that are available! Buying a house is not complicated, but reading this site you'd think there was something mystical about it.
  2. I'm not protecting the banks and I'm not having a go at SMEs. Bankers seem to be getting away with their profligacy while SMEs are suffering now.
  3. So, the property crash is to blame. Simple solution - lets bail out a bank (like we did Presbyterian Mutual Society) and then borrow more than we need to artificially boost house prices. I'm sure you know people who work in banks, but a friend of mine often tells me local businesses don't submit a proper business plan when they apply for loans. As someone who went to uni in England and came back I do wonder why I made that crazy decision. The job market is better today than it was when I graduated, but culturally we haven't progressed as much as I'd hoped.
  4. Surely there are more pressing areas in the city that need DSD funding?
  5. What has happened to all the people? The usual spots in Belfast are much less crowded these days (as is evidenced above), but I can't believe people aren't going out as much. There doesn't seem to be much alternative night life either, so are people really staying in? Or are people from outside Belfast no longer making the journey into the City?
  6. Maybe it's just Norn Iron people who think a house that looks well in the sunshine must have something wrong with it. "At least when it rains you can see where the water comes in" ;-)
  7. I'm not sure I understand your point. Surely as you get older your financial position improves and that supports a more expensive property, not equity in your current house. Are you implying these folk will have suffered from such a dramatic decrease in the value of their house that they will still be in negative or close to break even point? In that case that's tough luck. I think we have to accept that what we saw a few years ago was a bubble, but there will always be people looking to purchase houses and if FTB can't afford to get on the property ladder then we are all screwed. Unless you have a BTL!
  8. It'll be interesting to see how the economy holds up once the reduction in public sector money takes hold. 2014-2015 looks particularly bleak, but if spending restrictions continue after 2015 like the Chancellor suggested then we in NI could be in for a shock. My own experience is that most of my friends are already feeling the pinch from static wages and rising living costs.
  9. The flat I'm just about to move out of has E7 and it's terrible. The flat doesn't seem to retain heat like a conventional flat / house with central heating which means it cools quickly. It cost about £800 for the year with Power NI which I think is expensive for a 2 bed flat. Saying that, we always had hot water and never had to use the immersion. I would consider installing a central heating system. I'm no plumber, but I'd guess that you could do that for about £3k (?)
  10. First time poster, long time lurker! Thanks to this forum, I feel reasonably confident that my recent decision to purchase a house is not a moment of madness. Here are my reasons to buy: 1. I'm buying a home. I'd like it to be an investment, but in reality it's where I'll live for x amount of years. 2. I can afford it. Seems like an odd statement, but its true. I have a deposit saved and my mortgage is just over 3 times my salary. My monthly payment is about 25% of my take home pay. 3. Who knows where prices are going, but I think they've reached affordability. I still expect more stagnation, but as I say I'm buying a home. 4. My rent is £100 a month more than my mortgage. Yes I know there are additional costs with owning, but I'm not getting my rent back and I can't decorate, replace the shower etc. I could probably rent alternatives, but now just feels like the right time for me to buy. No one on this forum can tell you whether you should buy, so ask yourself this: can I afford it, am I likely to move anytime soon, how secure is my job, what impact will kids, marriage or divorce have on me?
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