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About Keefter

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  1. Credit file = thin or non-existant, their ability to predict your risk is therfore seriously hindered having no past history to go on. The banks decision to refuse you the facility was purely a risk based one and has nothing whatsoever to do with your profitability as a customer. Banks are more than happy to take on customers who do not pay interest because they can invest your money and you provide an excellent opportunity to cross-sell other products to. Even the £12 a month account fee is profitable for them, regardless of the insurance benefits which come with it.
  2. Hehe that certainly set the cat amongst the pigeons, a much bigger response than I was expecting. My point is, and has always been that my decision to enter the property market was an individual one. I live in Lancashire and work in Manchester (about an hours drive), we couldn't afford to buy in our rental location (Sale - Cheshire a 15 minute drive), well actually we could but not in a decent area or a decent house of that matter. We paid slightly more than 100k for our spacious 2 double bedroom victorian mid terraced house in Rossendale Valley, it recently valued at 125k, realistically we'd get 117k - 120k at a guess, the inflation is not 100% organic since we have done serious decorating which obviously came at a cost, about 5k tops, so factor that in and its probably a 12% - 15% in actual real growth in 2 years. Interestingly I had a little look at rental property in the complex I lived before we bought and it has increased £100 pcm. Obviously BTL landlords simply passing on the increased cost of interest to their tenants. That aside, I've made two years of mortage repayments and thus reduced my capital borrowing. My mortgage is almost penny for penny the same monthly payment as my rent was back then so my ability to 'save' during that two years is no better or worse for having moved (ignoring the increased commuting cost that is). Anyway I've strayed a liittle here, I guess what I'm trying to say is that for my circumstance at the time buying was the right thing to do, geography, income and other personal circumstances have played a major role in my reaching that decision. The bears on this website dish out advice to newbies which is almost always the same regardless of any of their personal circumstances. Had I listened to such advice 2 years ago then I firmly believe that my position now would be much worse. See you all in another 2 years.......
  3. errr, no you fcuked up, so you admit it. 2 years on and boy am I glad I did buy....
  4. Well done for admitting you were wrong. I remember you well from the early days you're a bright articulate lady who knows much more than I do about economics. What is important is that you made the decision you thought was best, it was a well informed decision but it didn't work out. Life goes on, you're no worse off than the millions of young people who just started out in married life or just left Uni etc... Keep your chin up!!!
  5. Regardless it doesn't actually say that an offer has been accepted simply that one has been made. Not the same thing so not technically gazumping.
  6. It will be nice for people who are genuinly priced out to have somewhere to go. What are you expecting to achieve though? I've heard people on here before talking about rallies and stuff and never saw the point of it. Who are you appealing to, the governemt? what are you expecting them to do?
  7. What happens when one person is in a discussion with 2 or more persons who are from a 'cult' around the topic of that 'cults' beliefs? invariably, ragrdless of the sensible and valid agruments put forward by the 'outsider' they are ridiculed and laughed at by the 'cult' members. Sound familiar? Everytime there is a natural disaster of any scale globally you better believe there are thousands of johovahs witnesses down at their Kingdom Hall all saying the same thing 'oh its coming, its getting closer now, lets not give up hope we're almost there' Sound familiar? What happens when someone enters a Kingdom Hall and begins to preach the opposite to their frim beliefs? Some very brief and futile attempt to covert them takes place and when unsuccessfull that person is BANNED. Sound familiar ;-) Personally, so far as attitude is concerned I can see no difference at all.
  8. I only pop onto this site once in a blue moon now to see whats happening, and every time I do theres some post just like this one :-) A year ago you would have been jumped all over 100 times more than you have here, and in a matter of minutes too not hours. I can't be bothered putting in my 2 cents I've done it before and quite frankly its a waste of time. I like the comparison with a cult though, I've thought this many times myself, in fact I have some friends who are Johovah's witnesses (for those of you who don't know JW's believe that the world is about to end and that only those who are JW's will live on in a sort of new world just for them - oh and for internity too) The similarilties in attitude is actually scarely funny.. Something they strongly believe is going to happen any time soon will have a direct and unpleasant impact on the majority including their close friends and family and yet they continue to hope for it, because it will in some way be good for them. Sound familiar?
  9. well I actually moved to Lancashire (Rossendale) and in the 9 montrsh I have been there nothing has really changed. One house was on teh market for 9 months and recently sold andother has gone up for sale around the corner, at 10k above what I paid for mine, Can't see that selling tbh. Other than that my collection of anecdotal evidence all suggests that the market is flat but not carshing, yet.
  10. Grassing people up is a big nono, especially to the taxman.
  11. People are always banging on that its a boom bust market as an argument for an iminent crash. ten years ago it was half the price to buy a property than to rent the same one. Those same properties then more than doubled in value over the course of 7 or 8 years. A long term strategy of financial benefit to rent? get real!! - Learn all you can about the property market and then make a mint by timing it right for the next boom, thats the best long term financial strategy. We will never learn we'll go those this time and time again, might as well make what you can from it.
  12. Exactly. Not only that but take a look at the Halifax data from the last 'crash' for the Northwest. If we get a repeat of that tell me its worth living in a rented flat for the next 3 years. of course we all know Halifax fiddlethe figures except when they report -2%
  13. I haven't had time to go through all the responses so I apologise if this has already been raised. I'm a little confused at the wording of some of the headlines of today and yesterday, in particular the Metro who claimed 'Average House now 200k' or something to that affect. Is there a fundamental difference between the average house price and the average price of a house? Let me give an example: I live on a street of 40 terraced houses, its a cul-de-sac at the top end there is a very big house, not quite a mansion or a stately home but probably 10 bedrooms, private lake, acres of grounds, staff accomodation (you get the picture). So we have 40 2 bedroom terraced houses, all are slightly different in terms of structure and decor etc.. some may have kitchen extentions, some loft conversions, some have slighly bigger gardens than others but essentially they are all similar types of house, then there is 41 which is totally different to everything else on the street, totally detached private and much larger (my guess is that at some point the working people of our village occupied the terraced houses and that their employer occupied the large house at the end). Lets assume something like this listed by house number: House Value 1 98000 2 99000 3 105000 4 107000 5 115000 6 96500 7 99500 8 101000 9 107500 10 105000 11 99999 12 102500 13 103000 14 111000 15 109200 16 98000 17 99000 18 105000 19 107000 20 115000 21 96500 22 99500 23 101000 24 107500 25 105000 26 99999 27 102500 28 103000 29 111000 30 109200 31 107500 32 105000 33 99999 34 102500 35 103000 36 111000 37 99500 38 101000 39 107500 40 105000 41 450000 So the total value fo the houses on the street is £4,610,397 which makes the average price of a house on the street £4,610,397/41 = £112,449 Does this mean that the 'average house' on my street is worth £112,449? no, surely it means that the average price of a house on the street is £112,449. I think the headline therefor is a little misleading, correct me if i'm wrong.
  14. About a year ago I posted something very similar, and subsequently I was torn to shreds and called every name under the sun. EDIT: you can see it here http://www.housepricecrash.co.uk/forum/ind...?showtopic=5932 the responses become boring after 2 or 3 and I did go on a wind up mission because I got bored but the original message I think was a valid enough one, no more OTT than some of the crazy arguments teh superbears of this make daily. END EDIT. I genuinely feel for you Dick. There are a couple fo problems here. The first is that this site is 99% Bear and as such your requests for advice during your period of indecision were met with a 99% responses scewed in favour of 'You would have to be a complete idiot to buy right now, for X Y and Z reasons'. The second is that the majority of members here live in the South unlike you or I they have seen actual drops in prices and their advice to you back when you were house hunting would probably have all been good. The truth is there is a big difference between the north and south, I bought over a year ago not far from where you were looking (Rossendale) and whilst I haven't made any money on the property and would have little chance of selling it quickly if I had to for some reason I am quite happy in the decision I made. I still don't envisage myself personally losing any money in the long term since I plan to live in property for some time. You hit the nail on the head, people should make huge life decisions based on their current circumstances. I can obvioulsy see why you didn't buy at the time, especially since you were logging in here every day. Bound to be spelling mistakes in this post, so I'm obviously incapable of making any life decisions of my own. Newbies ignore this post
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