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House Price Crash Forum

boo

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About boo

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  1. How many times has it been posted that "this is it", "the crash is coming" I can't see it happening myself I spent 15 years renting in London waiting to see if the crash would happen, my rent went up my savings never really caught up with a deposit. Until people want to stop living and working mainly in the south east,until the govt stop creating schemes like help to buy then prices won't crash dramatically I totally regret not buying sooner if anything, I wasted so much in rent
  2. Yes I am sure my geordie accent made him think I was a chelsea fan!!
  3. If he was trying to big it up it wasn't working!
  4. I didn't make this up! Why wouldn't he go and look at a place I wouldn't leave it up to somebody else to decide on the property as it was £350k so not a small bit of change (although to him it probably was)
  5. Just got back from viewing a flat in wanstead East London. Its actually a really nice area with good tube links. Unfortunately the flat wasnt for us, but the estate agent told us that frank lampard and his dad had been to look at it earlier and offered 45k under the asking price. Apparently he owns around 200 properties in the area..nice to know he is contributing to the housing shortage!
  6. But yes they have to pay back 20% of the sale price so the govt makes a profit if prices go up.
  7. The won't need to up sell as its a 3 bed house so I expect they plan to stay in it for a while
  8. Actually just looked on zoopla for 2 bed Canary wharf for rent...unbelievable!!!
  9. Must be over £2000 a month it's in the docklands and he said his mortgage would be less than their rent
  10. I forgot to mention his wife is a bit high maintenance and wanted a new place they could just move into. There is also another interesting twist as she is pregnant!!!
  11. They are both high earners in good jobs so joint income of 143k would be correct! The guy said the mortgage is less than he is paying on their rental in the docklands. As they are only borrowing 75% ltv the rate will be low so £456k over 25 years at say 3% is around £2200 a month! Mind U they will only own 80% of the house!
  12. I wasn't endorsing help to buy in any way. My point is that its not helping the people who it claims to be.
  13. I actually think in some cases the help to buy is good, if someone is on a low income. However today at work I was amazed to hear a colleague is using this scheme. The bank has said they can borrow £450k but as they only have £30k deposit and and the house they want to buy is £600k, they need help to buy as the bank will not lend them £570000 Surely if you have 30k and can borrow up to £450k already then if they save another £15k they could get a house for nearly £500 without govt intervention. I cannot believe yhr scheme is allowing this as they don't really need help!!
  14. But it never sold in 2011, it's never been for sale they have lived it from day 1!!!
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