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About Stockton

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  1. +1 There are some lovely barn conversions in Brittany for 100 -150k
  2. It may be I haven't looked into the costs to that detail I just thought it funny that you cant set up a direct debit from the day you move in.
  3. I’ve been watching this on All4 and love the idea, I wouldn’t buy something that big and I wouldn’t want to be a hotel or wedding venue (what Dick is doing) as there are too many people doing it. The French equivalent of council Tax is a bit strange, you have to pay the first year in full before you can set up a monthly payment so that needs factoring in to the move costs.
  4. I have to agree with this bit, I am a "mortgage prisoner" (its how/why I found this site). I was young, naive and bought into the "Bricks and Mortar only ever go up" talk from the older generation. The sales rep at the new builds had no problem palming off a sh*t box on me (houses only ever go up in value init). 10 years on and I have a lot more experience but the younger generation I talk to who are looking to buy dont (wont?) listen when I tell them how bad new builds / htb / silly house prices are and just how big a mistake I made at their age.
  5. Thanks, this means im about right for my hardware. I had just been looking back through the whole topic as I thought you must have bought a proper antminer or similar to be getting 0.025 a day! Im a bit underwhelmed by the ASCII miner tbh but I allways knew it was more a curiosity purchase than a means to make any money. have you used yorur ASCII's for mining BTC direct or other coins like Zcash?
  6. What are you mining and what hardware if you dont mind me asking? Im mining Eth (dual mining PASC) with 3 R9 290's and 1 R9 390. I also have a gekko science 2pac ASCII miner for BTC (currently getting me a whole 0.00000268 BTC a day! @ 17GHs) Im curious because im currently earning 0.0015 to 0.0016 BTC a day and im trying to work out if that is about right for my setup or if I need to change what/how I mine.
  7. These arn't large but I am going to buy a couple to learn how to use them and may end up running a "mini farm" of them on USB hubs if they run stable enough to be setup and forgotten about. Scrypt - https://www.bitshopper.de/shop/scrypt-miner-en/moonlander2/?lang=en SHA256d - https://www.bitshopper.de/shop/sha-256-miner-en/gekkoscience-2pac/?lang=en I know it probably wont earn anything but I am treating it more like a hobby for now.
  8. I agree I dont think Friday was it. Just found it strange that the MSM is talking about this, unless they are looking to get the masses to jump into housebuilders shares...
  9. What does everyone make of these articles? Builders lead FTSE fightback two days falls developers bankers snap cheap shares and Housing bosses snapping shares companies amid rout sector Brexit vote Do you think they know something is coming (HTB4 maybe?) to help share prices rise for a quick profit or are they trying to shore up their companies and hold these shares for a longer period? Cheers
  10. Points taken, I wont push the new house idea any further. I hadn't considered/worked out the viewpoint highlighted in bold above that I could potentially reduce 13k off the cost of the current house if I offer 20k and it is accepted that would be a cracking result. Thanks for the info all.
  11. Thanks R K Is it funny that I PCP my car as well as buying a new house! I guess youre right re getting burned twice but the price of the new houses here is still 135k so even if I do part ex so long as I get a reasonable price for my current house and a decent price for the new house I would be in the same position but with a newer house. I will have to properly work out the cost to move to make sure this is correct but quick maths in my other post suggest that my thinking correct. I could even downsize and reduce mortgage and bills to save a deposit for a larger home in the future The key point I'm getting from all the replies is to sit tight and see what happens closer to the end of the 10 years so that's what I will do. Will be interesting to see how many of the homes around me start going up for sale and for how much.
  12. Thanks Haventaclue, Yes barratts call centre will offer a 20% reduction and I have had a number of letters from them with similar offers. Stamp duty wouldn't be a big concern if I wen like for like on the new house (circa 130k) I would be looking at less than £500. I think there would be some easy negotiation to be had on buying a new house from them as I am in effect selling them a house back, if they don't pay current new house price or around that then I can use that to reduce the cost of the new house based on knowing what the future value of the house is likely to be. I would also ensure no white goods are included which are basically pushing up the mortgage cost for items that are not the house. Moving expenses would be minimal as I would probably move within the same area (they are still building where I live) and I could complete the move myself. The 25% loan would be settled by barratts when the purchase the house from me, wouldn't it? If this was less than the value borrowed from them I would need to settle some negative equity with the bank but I think this makes better use of my money than giving it to barratts. I currently have around 20k savings, after all the costs associated with moving house I would still expect to have 15-17k deposit for a new mortgage. If I negotiated them down to 120k (best case) Have 17k savings remaining (best case) Barratts offer a 5% deposit (current offer on the website) of 6k That gives me 14% deposit plus 6k (5% from barratta) 19% in total. Ideallly I would want another 7k to give me a LTV of 75% and secure best mortgage rate. This is possible in the time a have remaining. Barratts would want somewhere between 33750 (25% of 135k) and 31375 (25% of Halifax current house value) minus 20% discount gives me a range od 25 - 27k to repay them. If I pay off Barratts at 25k that gives me a LTV of 75% in effect giving me an option to own a 10 year old house or a brand new house for the same outlay and end up at the same position. If there is a HPC or the values of new houses reduce before the end of the current 10 year loan I could be better off in a newer house depending on how Barratts want their accounts to look. I couldn't agree more, I knew at the time the 25% loan would mature and I am expected to pay it. My question is, is settling the loan outright the best value for my money. Option 1 seems to be the best option out of the three here, let other people whos loans mature before mine go through the process and see what Barratts comes up with. Option2 is a no go in my eyes, don't want to have in effect 2 mortgages on the house. Options 3 wont fly. Barratts are still building on the estate so who would buy a 10 year old home when they could have a new one for similar money? The only people who would consider this in my eyes are Barratts to make the best of a bad job on the dream start scheme. Realised around 4 years ago that overpaying the mortgage at this point in time is not going to benefit me, better off putting the money aside rather than being at the whim of the bank. Correct Halifax will not provide me with another mortgage I have tried a couple of times and they have offered me higher rates than SVR at the moment, if I have 75% LTV they will offer a lower rate reducing mortgage amount by £100 a month or reducing the overall term of the mortgage. I cant see /understand how I would be trebling my debt by part ex unless they offer me silly money for the current property but I wouldn't agree to that and my decision would be clear - stay put and pay off the 25% loan. It wouldn't hurt to have a look imho. There is no want need to extend the timeframe, I would rather pay off the 25% loan then overpay the mortgage as much as possible during the low interest rates. I agree I always knew I would need the deposit and Ive made sure its available. I want to make sure I'm doing the right thing with my money now. I feel let down by Barratts and everyone else when I purchased the house and I don't want this to happen again. Without trying to rant on too much I though I was doing the right thing buying a house at 20 years old, listened to the sales woman who told me they would take care of it all and landed me with a 40 year mortgage and a crap life insurance scheme. I knew about 4 years into ownership it was not going to be possible to sell the house and break even (not that I would want to I'm happy in this area and with the home) but I didn't realise until I've really started digging how much they have turned me over on the mortgage term and everything else which is taking an age to correct. I may now be a bit bitter and want to get some credit back from Barratts and the bank.
  13. The mortgage is repayment, it is currently 100% LTV due to the drop in the value of the house. I'm assuming BFML = DreamStart, at the moment there is no interest. If it was extended there may be some interest applied. Moving to a similar sized, larger or smaller house. I would rather purchase a smaller or same sized house at the moment. I would like a larger house but not a new larger house if that makes sense (they have smaller rooms and gardens compared to older property). At the moment I just want to make the best of a bad situation recover and move on in 10-15-20 years time. Selling the house back to barratts and taking out a full mortgage on a new home with a deposit sounds like better use of my money that paying off a line on barratts accounts but there is a lot of good points in this topic (and others) so I wanted some other views to highlight anything I may be missing. Cheers
  14. Apologies for bringing up an old thread but it has helped me understand a lot and will probably save time going over old ground if I started a new thread. I am one of the people who used the dream start to get on to the ladder back in 2008 and I have been looking at what will happen when the 10 years is up. Info: House price 135k Mortgage: 102k DreamStart: 33k current valuation (mortgage provider): 125k I have the funds available to settle the 25% but I think the money could be better spent elsewhere. My thinking is to sell the house back to barratts (the have a part exchange scheme) for another new house where I own 100% of the house on a mortgage, the deposit would be the money I have set aside for barratts minus any negative equity I have from the current home. ​It is possible barratt will give me the best price for the house to reduce losses on the balance sheet. I accept that I am buying a house above market value and I will have to deal with that. One option I can think of to minimize this is to wait and see if a HPC happens in the next 2 years then approach barratt when they are struggling to shift houses for the best price at the time. what are your thoughts on this? I don't mind moving and I cant see a downside. I couldn't see a downside to dreamstart when I signed up for this house though! Another option is to ask barratts if they would be willing to sell a part ex property to us (larger home closer to actual market value and potential to extend ect) Before I get flames I accept that when I purchased this house I made a mistake, I now want to minimize the damage to me going forward and make my money go as far as possible. When I took out this mortgage I also took out life insurance which I'm also looking at and it looks like they turned me over on that too, I will just have to chalk it up to the school of hard knocks. Cheers
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