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twatmangle

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Everything posted by twatmangle

  1. It's a shame that everyone only ever thinks about the financial side of buying a house. I know people who are buying right now, who are aware that prices are falling.... they just want somewhere to live, and they accept the consequences. I wouldn't call them stupid, or even foolish, it's just that the financial aspect is secondary. They are quite wealthy and have well paid jobs and don't want to wait 5 years for a correction that might never come.
  2. Rent downsizing. If you can only afford a certain amount for rent, then you can only afford a certain amount. Doesn't mean you automatically stay in the same type of rented accommodation. If the people above you are downsizing, they can afford your place, and you'll have to move somewhere smaller.
  3. and wait... and wait.. and wait. Then one day realise that you've wasted your whole life.
  4. Nah, the message is BUY A HOUSE (GET YOUR MORTGAGE DEAL) NOW, BEFORE IT'S TOO LATE.
  5. None I believe. Interest is only paid on the original loan, not re-mortgaging/MEWing
  6. North Birmingham...... that's quite diverse.... Kingstanding and Sutton Coldfield. Where were you looking? Mr.T
  7. Putting all the HPC clíches together in one post. It might be possible these much-spoken-of cash-rich foreign buyers might be being affected by the recent resurgence of the Pound against the Euro. Their money is generally buying less and this once-in-a-lifetime chance to buy a bit of London's turf is now, not so once-in-a-lifetime any more.
  8. The Land Registry hold the deeds, electronically. Anyone can buy a copy for a few quid. They are not held by the banks as some sort of ransom. Check out this example from the LR website. www.landregistry.gov.uk/www/wps/QDMPS-Portlet/resources/example_register.pdf It clearly lists the Registered Owners as the people who live there, NOT the bank There. Two HPC myths destroyed.
  9. I think you're wrong on both counts. Seriously, spend 5 minutes researching this and you'll see for yourself. Banks now don't keep the title deeds The 'owners' are the actual owners.
  10. As already mentioned, they are home owners, but they have a loan secured against it. They are the owners regardless.
  11. Sure, but the question was 'why should I bail them out'. The answer is: Because renters expect to get bailed out too. It shouldn't make a difference. People shouldn't automatically be made homeless because they've lost their job. Should you help out people who become ill? What about the fatties and the smokers?
  12. Because you would expect a bail out and your rent paid, and I bet you've got no insurance. BTW. They are homeowners, the bank has an financial interest in the house that's all. The house isn't on HP.
  13. Mortgages are out there for people who qualify. The only difference is now, people aren't qualifying, people who would have in 2005-2007. If you turn up at the bank, with a 10% deposit already saved, have a good employment history/future, history of saving, and no blemishes on your credit file, I doubt you'd be refused a 3x joint mortgage. It's only the, large multiples, self-certs, BTL, IO and high LTV mortgages that have been removed. Just so happens that these were the norm at the peak.... now we're back to the old-skool rules, few qualify. It's not so much a credit drought or a mortgage drought, it's a qualification drought.
  14. Yes, but only the lower floor, minus garage of course.
  15. Thanks for clarifying that point. I paid £162 per square foot for mine, it's yours for £199.99
  16. When you do your £200/sq foot, does your measurement mean footprint of the property or floor area (eg 2x footprint if on 2 floors?)
  17. When you reply, copy the start and end of the quote tags. You might need to change your user settings to view the whole HTML You can use Thus: or you can go the whole hog and copy and paste: eg
  18. Exactly, and it is here where 99% of punters will stop thinking.
  19. I was asking about a specific scenario. Suppose prices were 40% below peak and you were an STR or had a lot of equity, or savings let's say £100k. You have 100 punters all lined up. All have £100K available. How many would go into property and how many wouldn't? I suspect nearly all would. People seems to be addicted to property. I am not 'into' property as an investment. I don't particularly like BTL, but it would make sense to get into something when it is at historically low prices, and seems to be the investment of choice of the masses, and likely to go into bubble territory again, as well as providing a yield the whole time.
  20. Serious question.... if you have a spare 100K where would you put it, if prices had come down by 40%? Still avoid property???? Isn't the whole idea of investment to do the opposite of what everyone else is doing. When people are sick of property... that's the time to buy.
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