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Should you sell

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  1. I never really get the 'back it up or you're lying'!! Why would I lie when I am just putting a scenario out there... Anyway.... 2 bed cottage to rent - £1350 2 bed cottage 4 bed house - £550k - which would be a £412k mortgage at 75% LTV - which is about £1371 in interest a month 4 bed house I could find better examples as these aren't in exactly the same postcode...but I dont have the time right now
  2. Who knows what the rate will be in 5 year! What I do know is that at that rate (where I live) I could fix my interest payment (rent!) for a 4 bed house at a lower monthly payment than the rent for a 2 bed cottage.... that sounds compelling. If the 10 year rate goes below 5% then the same situation as I describe above ca be secured for double the length of time...... My point is that nobody knows what the world will look like in 5 or 10 years time, however if you can secure fixed finance for a house twice the size of what the equivalent would cost in rent it does start to make sense..... to me anyway!
  3. Just noticed this from the Co-Op Bank..... Details You do need a 25% deposit but that does seem like a fantastic deal compared to anything else available. Will be interesting to see if the other banks follow.
  4. asking... and then going sstc within a week or two, so I guess for pretty close to asking..
  5. Maybe...However, property here is selling for +15% 2007 prices. Even if property prices fall 35% from here an STR decision (all but RIGHT at the top) must be looking pretty shaky when all costs are taken into account.!
  6. I'm in Thames Ditton, property is still flying off the shelves here!
  7. I have been watching the available 5 year fixed deals for some time now. Up until yesterday Leeds Building Society offered a 4.99% fix with a 25% desposit (discounted by 0.24% if you use their insurance products) I noticed this evening that the deal has changed and for an extra 10bps (so 5.09%, and again the discount applies if you use their insurance) you can now secure the five year deal with just a 20% deposit Has anybody else noticed LTV being relaxed elsewhere??
  8. I don't often post here but have been a member for a loooong time! This article sums up the housing market incredibly well. Prices currently being forced up by cash rich and equity rich buyers who want to lock in long-term cheap financing and perceive the 15% drop in prices to be good value. This type of buyer will soon run out and the fundamentals will once again take hold. Article
  9. Article I have been a member on this site for a long long time, I very rarely post but I think the article linked above sums up the housing market extremely well. Cash buyers and large deposits are currently chasing the market (and locking in good long-term financing deals), this type of buyer will soon dry up and fundamentals will force the market down once more.
  10. I agree with all you have said and I am in a very similar position. Big deposit, decent salary..... but when too buy!? One thing I would query with regards to the multiples that Barclays are offering is what rate they are quoting. It is all well and good lending at 5x salary but if they are quoting a silly rate over base (I have seen North of 7%!) then surely nobody will deal?
  11. some help please.... I am looking at making an offer on a property in the following postcode GU22 9PU, I am not fully up to speed on the area (although have spent a lot of time driving around there looking at properties) and would really appreciate an objective view. The house is a 5/6 bedroom detached property that has been reduced from 675k in March 08 to 499k now, they may be happy to a substantial offer as well. Any input will be much appreciated.
  12. Just a quick update on this property, the agents have just called me and the price has now dropped to £475.... how long to wait!
  13. I am South African and living in the UK, definately not a life-style choice but rather a career choice before you all slate me for running away! Thanks for bringing some sort of balance to the debate. Whilst SA has very real problems and some rather African ways of dealing with them Louis paints a horribly biased view on the place forcing his thoughts on the audience with no objectivity or balance. Nonetheless, this was en eye opening and scary program for someone like myself who still has all his family in South Africa... But you know what, I still love the place! Go and see for yourself, just be be sensible and you will have a marvellous time!
  14. Having thought about it I may just test the water at 400k
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