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Hector's House

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Everything posted by Hector's House

  1. I believe you are persued into banktruptcy here in the UK. It's a pity that this very fact didn't stop folks signing up for these daft 125% LTV mortgages for a shoebox. At least, there in the US I can understand folks taking a punt on bettering their living conditions for their kids if they know they can walk away from negative equity if they have to.
  2. I've never thought of it that way before. I bet a few people have realised it's better then having to deal with some amateur landlord too: no upfront deposit, no fear of being turfed out after 6 months etc.
  3. As mentioned in another thread, I've just arranged a 10-year fixed mortgage at a 3x salary multiple and I'm putting a bigger deposit down then 10%. And the financial advisor STILL tried to interest me in a 130K mortgage. It seems we're a long way from the banks not trying to burden folks with huge debt...they're just left with folks like me that won't fall for it as easily. I'm happy to buy a place that isn't perfect and then save up and make the changes I want over the years. And I daresay there are a few more out there like me. But I don't see the financiars changing their approach - except towards their sub-prime clients. I think this whole thing has a ways to play out yet.
  4. I went to my IFA with a £10,000 deposit for a £90,000 house and nearly 20 years service with my employer........she told me she could easily get me a £130,000 mortgage if I wanted it. I told her no thanks. Seeing as I don't earn £30,000 a year I thought it might be just a tad risky! The sooner the banks are stopped from trying to push this level of debt onto folks, the better!
  5. Well as folks may know I've been looking to relocate to Nottingham for work reasons and have spent the best part of two years commuting back and forth whilst keeping an eye on the market. I've been especially looking to the east of the city, as this is the area my family are in and I've owned property there before so know the good and bad areas. For anyone who knows Nottingham, Netherfield has been turned around in the past three years and, due to the previous lack of development it is a haven of Victorian two and three bedroom houses. Unfortunately a recent incident of mindless gang violance that put a work colleague's brother in hospital (after he ventured out to the local chippy late at night) has put me off the area...that and the fact that every so-called 'property developer' seems to have descended turning around two bed terraces and expecting top dollar for their 'work'. Up until last week we were faced with a wall of sellers not prepared to even negotiate on their asking price. What a difference a week makes! We have found, and had our offer accepted on a place just over the railway line in Carlton that we will get for 3K less then the vendor paid for it 4 years ago. A small start in the HPC I know. But it gets better. 3 doors up is the exact same type of house, immaculate throughout but with a vendor that told us he knew his property was worth every penny he was asking as he declined our offer three weeks ago. We got a call from his EA on Friday asking if we were still interested, and telling us he is now happy to negotiate. We told him we'd had our offer accepted on the house three doors down, and, if he can match that offer (£90,000) we were still interested. Watch this space!!
  6. Yeah, nice use of Elvis Costello's 'The Juliet Letters' too for mood music. A fine album!!
  7. LOL! Just what any self-respecting ghosthunter wants - in-house spooks! No more paying the local pub £250 to investigate their so-called plethora of ghosts! No more nights spent freezing in graveyards! Watch those spooks from the comfort of your armchair then charge Most Haunted a fat fee to come and put your abode on the telly!!
  8. They probably have more right to ask the price they're asking. And, although it's a minor thing the other house has a garden that is south facing. I am arranging to look at the larger property as a matter of course anyway.
  9. My househunting quest brought me to the doorstep of a property that looked like a flipper this weekend. It was immaculate inside and out. The seller is using some online 'sell your own house' method. When I called to book a viewing I was told the seller would have to travel over to show us around. The seller, however told me they lived in the house yet it was spotless with no signs of anyone ever having cooked a meal in the kitchen for instance. Then we got told different stories by this couple - the guy told me the doubleglazing was 1 year old, his missus told us it was 4 years old. It appears the main breadwinner's job got moved out of Nottingham and they've been trying to sell the house for a year now. Her partner has also just landed himself a job in the area she is now working in and they are desperate to move as the traveling is killing them. A sale just fell though, not cus the potential buyer couldn't raise a mortgage, but cus they are in a chain and unable to sell their house. Unfortunately they are trying to sell the place for more then another house across the way that has an extra bedroom and off-street parking. And the place is so small they've had to locate the fridge under the stairs. However it is the size I'm looking for (I have no children) and in the area I want to live in. I will be putting an offer in that is not going to be to the seller's liking methinks.
  10. Great post! I took a step back from consumerism when I sold my house in 2004. It enabled me to pay off my credit card and be debt free which, in turn made me think differently about debt. No debt. No mortgage and I helped my folks pay off their mortgage when I was able to. I've been swimming in the opposite direction to everyone around me ever since. I think it's sad that it takes a credit crunch for the vast majority of the people around me to start doing the same.
  11. Got to agree with you. I'm Nottingham born and bred and the only thing that's been moving in the last 10 years are the redevelopment of areas like the Lace Market into 'urban living' centres and bars and clubs opening. It bears very little relationship to how the locals actually live and, as you say there has been no real effort to do anything about the places you mention. The bars/clubs/eateries seem to be full of students, folks spending up a storm on creditcards and folks that come from the surrounding towns. We have seen some changes but on a very small scale (I'm thinking about the turn around of the top end of Netherfield for instance).
  12. Well that was fun! The first house turned out to be a pig in a poke with the previous owners having sold the land off to a developer. In the transaction they got an 'allotment' which turned out to be down a nearby private road and inaccessible even on foot. The second turned out to have a very 70's kitchen, mould on the ceiling, rotten wooden single frame windows and was filthy. So we decided to take a look at what was on offer at the £110,000 - £120,000 price level. What looked to be an immaculate house turned out to a dive. The owners had obviously had to vacate quickly and had ripped out the shower and fire surrounds before going. There were other signs of damage too - skirting ripped away and new wallpaper torn off. I told the EA their marketing material bore no relation to the actual state of the property. :angry: And the last one we looked at was obviously someone trying to flip. The place was beautiful but it was all cosmetic - brand new furniture throughout but price was higher then two more in the same street - one had had the downstairs bathroom moved upstairs and the kitchen extended, the other has an extra bedroom and off-street parking. One of these properties has just had it's sale fall through. House hunting is fun!!
  13. Just before Christmas I spotted a house in my area (east of the city). I set a date to see the place only to have it cancelled by the seller citing illness. The EA gave me an alternative date but it was mid-week so I didn't follow up on it. In the meantime I've made an appointment to see another house tomorrow morning so was surprised to get a phonecall from the first EA telling me that the seller had dropped the price (£5,000 off) and would I still be interested in seeing the place. I will take delight in seeing both tomorrow....and letting each EA know that theirs is not the only property I'm viewing this weekend. And I'll be expecting more then £5,000 off the price!
  14. A friend of mine used to live in this village so I've got a good idea where this house is. There is only one road cutting through Debenham and it gets gridlocked with lorries on weekdays. It's been in need of a bye-pass for yonks. The houses on either side of this road are the real chocolate box deal covered in ivy and very pretty...but you literally step out of the front door into the traffic. I imagine maintenance costs would be high over the years as I shouldn't think having that kind of tonnage going past the house daily is good for it. Local amenities weren't too bad the last time I was there but you have to drive out to the larger towns if you need a ATM or supermarket.
  15. we don't live in caves anymore either.
  16. Your friend is probably better off out of here. The company resembles nothing more then a hedge fund now. Every week there seems to be some new acquisition that puts our own people out of a job. Until about three years ago I could, literally count on the fingers of one hand the people I'd seen leave in all my years with the company. Now there are so few of us old guard left we have emotional scenes in the corridors whenever they meet with cries of 'I thought you'd left years ago!' or 'Someone told me you'd died!'.
  17. Good suggestion. I already make my calls at the times of day when I'll be put through to someone with a Scots accent...and make it quite clear why I didn't call earlier in the day.
  18. No worries, Fudge. I didn't think you were having a go. I work for a very large company and its an entirely different part of us that are being outsourced. The division I'm in have done well with keeping costs down and delivering projects ahead of time/budget so we've not been warned ourselves of any impending lay offs. It just shakes you when you see it happening I guess.
  19. I'd happily let them outsource me to New Zealand. Some little spot north-east of Auckland with a 10 minute commute into the office would do nicely. Now if only I could invent a new breed of sheep that likes to shop and sign itself up for lots of credit....
  20. Just to clarify. I haven't been told I am risk of redundancy, but things being as they are it is hard to feel secure. The company has posted above expectations profits and the outsourcing move has been on the cards for a while but has been brought forwards in light of current economic conditions. But I guess most folks would have to admit they are 'at risk of redundancy' in the current climate.
  21. Got pulled into a briefing yesterday to hear that a whole dept is being outsourced to India and 200 jobs are going. And I'm meant to be viewing a house on Saturday. It looks like my job is safe for now (whatever that means in a recessionary climate) and I'm not employed in the area of the company affected so I'm wondering whether to just put in a really stupid offer if I like the place (£20,000 less then asking price), cite the currect economic climate and just make sure I have good redundency cover if the offer is accepted. Thoughts anyone? The house is in my area of Nottingham and under £100,000.
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