Jump to content
House Price Crash Forum

twatmangle

Members
  • Posts

    2,177
  • Joined

  • Last visited

Everything posted by twatmangle

  1. I was listening to the broadcast live and I got the impression that he was clearly saying that a crash is not desired, and the affordability problem will be met with new products and services. 'People can't afford houses, we'll allow them to borrow more'. same old.
  2. My sources tell me that those houses were built without all the paperwork being done. Also there is no proper access to the road from them. This might be the reason for the low price.
  3. Six weeks rent as a deposit is normal. Fees - additional £200 for all the checks and references (for a couple) Anything more than this, question it. Walk away if necessary. Based only on my experience.
  4. It's a repo, doesn't mean they paid too much, or did anything wrong. Maybe they bought very sensibly and have lost their jobs, or illness, or death etc. You have absolutely no data to make an opinion on the matter. Just because it 'reads' to you, doesn't make it fact. Insufficient data.
  5. All of the people I know who are buying right now, (only a handful) are in their late 30s. It is that 25-year-mortgage thing that is lurking on the horizon which is acting as a fuzzy deadline. Were we luckier with house prices? I'm not so sure it was ever easy. In my case I remember at the bottom of the market, around '95, houses were equally unaffordable. Where I was at the time, I was earning 13K, and the cheapest houses were about 50K. A few years later, I was earning 16K, and starter homes, out of town, were 80k. (1998). But as you say, we didn't have 30k of debts before even leaving Uni.
  6. This is what makes me angry too. One thing I am happy for though, is being in my 30s. Those in their 20's are being beaten with a much bigger stick than the one hitting me.
  7. I think it's more to do with estimating the bank's minimum acceptable offer, rather than estimating the value of the house. Besides, as we've discussed, it's going to be very difficult to work out the outstanding balance based on the information available. It's a bit silly to assume that they were stupid to buy the house, or that they paid too much.
  8. Not enough data for that. Presumably you would also need details of the previous owner's deposit, mortgage details(IO or repay.), details of outstanding arrears or overpayments etc to get a full picture of the balance outstanding. But certainly it would give you a good indication of how much to offer the bank.
  9. I don't work in the public sector, I've got a proper job. However, I disagree with you that people in local government shouldn't earn more than 25k. Seems a bit silly.
  10. Do you really think that anyone earning over 25k doesn't deserve it? Is this just public sector or private sector as well?
  11. I can't speak for everyone, but I had absolutely no help from my parents, but still managed a 6 figure deposit. None of the above is applicable in my case. Didnt drive until 27, went to uni at 18 etc.
  12. Where in the article does it say that one in three mortgages were fraudulent?
  13. Bit of a generalisation, and I think you're wrong. People who bought in the last few years (2008-2010) probably were required to have a 20-40% deposit, so are unlikely to any where near negative equity. In fact, house prices have actually risen 10% since 2008, so they should have no problems getting a mortgage if their current deal expires. Besides, currently SVRs are not expensive either, typically around 4%, so I think you're wrong on this point too. I think people who bought in 2005-7 are the most at risk, but again, they should have paid off a chunk of the mortgage by now. Unless they were on a IO mortgage, in which case, they've only got themselves to blame.
  14. People with mortgages are the legal owners of the property, so I suspect home owners refers to mortgaged properties as well as those owned without a mortgage. Have a look at a Title Deed at the Registered Owners part. https://www.landregistry.gov.uk/www/wps/QDMPS-Portlet/resources/example_register.pdf All this nonsense and about 'home owners' not being the owners is just HPC wishful thinking.
  15. Not a bad idea but I'll probably just use them for future MEWing so I can get an X5 and a hot tub.
  16. You had 20% off from the 2007 peak in 2009. Expressed in gold or Euro or Dollar it was more like 40% from peak. Why didn't you buy then?
  17. date event 07 January 2011 * Brief Description changed: • ***SALE WEEKEND, SATURDAY 4th & SUNDAY 5th DECEMBER 2010*** • Spacious mid terrace villa in cul de sac. Bay lounge, separate dining room, large dining kitchen, four bedrooms, bathroom and shower room, w/c cloakroom, gas central heating, partial double glazing, enclosed rear gardens. (SHS100141) (contd...) [Found by n/a] * Price changed: Offers Over £265,000 Fixed Price £249,995 20 December 2010 * Brief Description changed: • Spacious mid terrace villa in cul de sac. Bay lounge, separate dining room, large dining kitchen, four bedrooms, bathroom and shower room, w/c cloakroom, gas central heating, partial double glazing, enclosed rear gardens. (contd...) (SHS100141) [Found by n/a] 30 November 2010 * Brief Description changed: • ***SALE WEEKEND, SATURDAY 4th & SUNDAY 5th DECEMBER 2010*** • Spacious mid terrace villa in cul de sac. Bay lounge, separate dining room, large dining kitchen, four bedrooms, bathroom and shower room, w/c cloakroom, gas central heating, partial double glazing, enclosed rear gardens. (SHS100141) (contd...) [Found by n/a] 21 September 2010 * Brief Description changed: • Spacious mid terrace villa in cul de sac. (contd...) Bay lounge, separate dining room, large dining kitchen, four bedrooms, bathroom and shower room, w/c cloakroom, gas central heating, partial double glazing, enclosed rear gardens. (SHS100141) [Found by n/a] * Title changed: Holmhead Road, Glasgow Cathcart [Found by n/a] 15 September 2010 * Brief Description changed: • OPEN HOUSE VIEWING WEEKEND SATURDAY 18TH AND SUNDAY 19TH SEPTEMBER 2010 BETWEEN 2PM AND 4PM • Spacious mid terrace villa in cul de sac. Bay lounge, separate dining room, large dining kitchen, four bedrooms, bathroom and shower room, w/c cloakroom, gas central heating, partial double glazing, enclosed rear gardens. (SHS100141) (contd...) [Found by n/a] 10 September 2010 * Initial entry found. [Found by n/a]
  18. Historically, yields of this order were normal for Landlords. EDIT: Please re-read my original post. I was talking about a future market that had fallen significantly, and possibly an 'overshoot' below the trend line. I didn't mention today or tomorrow. If the market does fall by 40%, it will be the middle aged and middle classes buying the most properties. FTBers will be out-competed by those with more money.
  19. I'm talking about price falls all the way down to the 30-40% falls that many here are predicting. I thought I clarified this by mentioning overshooting. If there was a crash of this magnitude. I would see it as a buying opportunity. 10-20% probably not.
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.