HOUSEHUNTER

As you sometimes mention crystal ball gazing on this site, have you heard of http://www.marketoracle.co.uk Makes for very interesting reading, some of which will please the bears.

yeah but the bulls think it's worth it don't they!

Yes, I found sales are well down, and that terraced and semi have sold more than others in recent years (although stll down in sales). Detached and flats are seriously down in sales. That proves it's the second home owning BTL that are propping up the market, as they are more likely to buy terrace and semi's as second homes.

talking of hurting the voters.....don't you think that there could be more labour supporters in the public sector and amongst those who are struggling. BTL'ers generally tend to vote tory don't they?

Yes I have a feeling they may suprise everyone with a .5% rise this month!

Why can't they just raise them in January? Get the ball rolling!

Does anyone expect a rise in this month?

You lot should be ashamed of yourselves.

I completely understand where your wife is coming from and she has made a sensible point. I have also given myself a deadline at the end of 2007, as I cannot hold out any longer. I have been waiting and hoping for 8 years and I too have children to think of. So I am hoping and praying that 2007 will see substantial falls. Also I am very prepared to watch for those properties that have been on the market a long time and I will be offering 20% below asking price at least and not budging. If my offer is not accepted I will try again elesewhere until it is.

I hope so, Happy New Year to you and all those hopefuls out there!!

Hi, yes, it also shows that sales have dropped considerably in 2006, especially detached for some reason. Good news hey Ripandcap!

Yes I have actually as I happen to be a key worker, but unless you want to live in a rabbit hutch it doesn't seem to be worth it. Anyway, I think earn too much to get on the scheme.

I have just found the site http://www.home.co.uk And the trends for my neck of the woods is Sep 2005 Sep 2006 Change Detached £246,998 £231,830 -6% Semi £174,537 £181,998 +4% Terraced £138,740 £150,917 +9% Flat £163,750 £101,225 -38% All £188,569 £190,437 +1% Flats have gone down £38%!!

Thank for that, it sounds a bit dodgy, but it's being pushed at the moment with all the hoards of despairing FTB's.

No, it's where you rent a property and then buy it after 3 years. Your rent goes towards the deposit and you agree a price to buy at the beginning of the rental. http://www.firsthomedirect.co.uk/

Anyone doing this new scheme or know anyone that is? What do others think of it?

Exactly, although I joke about, I am actually really worried for those who are going to end up financially ruined, it's not something you would wish upon you fellow human beings, but as you say if this extraordinary situation continues there will be alot further to fall and many people will be truly broken.

Is it true that people have already spent all the equity they made? So when prices fall they will have not only the house to pay for but the thousands they released from the equity? eg: 1) bought a house 5 years ago for £110,000 2)now worth £200,000 3)released and spent the £90,000 profit 4)prices fall back so house worth £110,000 5) owe bank £200,000 6) What a mess! Is this how it works?

Look, this is the beginning of the end, you read the papers from 1988/9, they couldn't see it coming, but within 1 year house prices fell of a cliff. This time the cliff is 2 to 3 times higher. Even those who haven't got a clue about the market are saying that debt is way out of control, peoples homes are being repossessed like never before, bankruptcy is now becoming common place. Does anyone honestly think we are experiencing a well balanced, ordinary economic environment?

Yes, and the only way they could recover the debt is to sell your house...and not necessarily with your permission

Exciting and scary too....

Of course they have an interest in your house .....they've just given you millions of pounds to buy it!

Have you paid for your house yet? Well then it actually belongs to the bank..........

Reluctant Landlords Lead to Buy-to-let Repossessions Getting a buy-to-let mortgage is only the first step to becoming a landlord - what happens if you find yourself struggling to make repayments at a later date? repossessedlet281206.jpg There is a call for landlords to speak to their mortgage lenders if they are having problems so that a repossession may be avoided through shrewd planning. It has more frequently been the case that whilst property prices have risen dramatically, rents have remained quite static, making it more difficult to make profit, or sometimes even make the mortgage payments. Mortgage lenders are more likely to try to assist those who find themselves in the red than enter into the realm of repossession claims, so there is more to lose by keeping quiet. Buy-to-let can be a great investment, but the market does not guarantee returns - especially with so many people having invested in this sector during the past year: a glut in the market narrows rental yields. There may be ways for mortgage providers to stop the investment being lost if people do not delay in admitting they have a problem. A longer repayment period could be negotiated, or a different product offered. Even if there is no way of being able to keep the property on, an organised sale is better than a forced repossession. Recent figures released by the Government show that there have been 34,626 mortgage repossessions in just the last three months, this is 15% more than for the same period of time last year. Although this number does not relate directly to buy-to-let property, it is a fair warning of things to come say the Council of Mortgage Lenders. Amateur investors are often the ones to face problems with their buy-to-let property, as they do not factor in costs such as insurance, maintenance, management fees and void periods where the property is vacant. Other difficulties spring from oversupply, as with many new build developments where property as been overvalued and discounts have been given by developers. Posted by Letting News at 10:01 AM on 28 December 2006 | Permalink TrackBack URL TrackBack address for this post: http://www.lettingnews.com/news/mt-tb.cgi/114