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panholio

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About panholio

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  1. panholio

    Road Works.

    M60/ M62 is madness. Managed motorways everywhere. I work in Civil Engineering and the Transport sector is booming (sadly I'm in Water).
  2. panholio

    House Sitters Want £100K For 6 Months

    Surely it has 9 1/2 years NHBC warranty if it is 6 months old?
  3. I'm monitoring north Leeds. It felt mental earlier in the year but seems to have tailed off significantly now. Houses sub £300k still seem to be selling (although that has slowed down a lot). Anything £350-400 and above seem to sit on for ages. Lots of sellers refusing to accept lower offers in the second bracket. My predictions: I think it will stagnate now for the next 12 months. An interest rate rise may stimulate some wobbly sentiment but I don't think any dramatic rises to mortgage rates will occur. Mortgage approvals may swing back slightly in spring, Family puts the pressure on me to buy, I'm currently in rented. Secretly hoping for some significant falls/ media talking about falls by the New Year but I'm unsure.
  4. panholio

    Estate Agent Just Sent Me This

    Just thought I'd update this thread with their latest mail shot. It really is a classic: Should I make an offer? As a buyer you are in a powerful position, both in terms of the effect your buying decision will have on your own life, and on that of the person from whom you buy. If buying a property was some form of commodity like petrol or milk, then you would simply buy the cheapest stock available. However, buying a home is much less mercenary, and emotions run high. Over the years, homebuyers have become used to the idea of making a "starting offer" below the asking price, but it might be worth considering a few aspects of the implications of making a low offer. Firstly what does a low offer say about you to the vendor? That you don't have the money and that any subsequent increase might stretch you beyond your ability to complete the purchase? Does it suggest you don't really like their home, risking offence? A low offer can often start off the relationship with the vendor on the wrong foot. And what if your low offer is accepted? Will the vendors experience regret and continue to market the property hoping to find a higher price with someone else? The chances of such a buyer being found are high as people usually want a property that someone else wants. Ultimately it's about commitment. An offer at, close to, a realistic asking price tells the vendor you are committed to the property. In return the vendor is likely to demonstrate a level of commitment to you that will result in a successful purchase.
  5. I am registered as a potential buyer with a number of local agents. I have no property to sell. Just received this from one of them: "Many estate agents will flatter you and promote themselves by claiming that they?ll get you the ?highest price in the shortest possible time?. This is easy to say, but not so easy for most agents to justify or indeed deliver! Effective property sales involve a combination of great presentation, attractive pricing and effective marketing along with a host of other techniques that facilitate a successful sale. As innovative estate agents with our finger firmly on the pulse of the local property market, we do things a bit differently at XXXXX. One of the innovations that we have recently introduced is the ?secret agent? concept whereby a property is offered ?off-market? ? and it?s proving to be hugely effective. In essence, instead of bringing your property to market in the expected way with the usual initial exposure across the property portals, local advertising, window display, website, etc, we make it quietly known to suitable pre-qualified buyers that the property is ?about to come onto the market?. This ?advance notice? really excites buyers as they feel they have exclusive access to a property that other buyers do not. During this pre-marketing phase we find that buyers are more likely to pay the full asking price rather than lose out. This technique is especially effective for properties that could possibly command an excellent price from one of a small pool of buyers, or where the vendor wants to try an ambitious price for a short period of time without exposing the property to the risk of going stale on the market ? one of the worst things that can happen to a property! Alternatively, if you have a property that has remained unsold for several months, it might just be worth ?withdrawing? it from the market and reoffering it in this way, with us as your ?secret agent?. You might be in for a pleasant surprise!" Interesting they are advising me of their techniques to try to get me to pay over the odds....
  6. A lot of these type of statement on this site and I agree in principle. But how do you balance that with a family and a wife who has "fallen in love" with the house? I'm finding that balance difficult at the moment. Apologies OP this doesn't help your situation.
  7. Spotted a house today I liked the look of. Semi in Bardsey, needed a lot of work and on for £210k. Rang to see if I could arrange a viewing, the property came on the market last week. Agent says they have 5 offers in excess of £210k and the property is going to BAFO at midday Wednesday. I said OK thanks but no thanks and she then persisted to see if I could make an appointment. She just offered me apppointments during working hours and I said the only way I could afford a £200k plus house was because I had a job, so I would be at work! She seemed amused at this and said I could have a look at the outside as the property was empty. No floor plan or anything on rightmove, so doubt I'd be offering. Suspect I'd be up against developers. Mrs Pan is really piling the pressure on now, saying we should be offering quicker and above the asking price. Told me I'm a dreamer for talking about 10-20% off asking prices. I can't stand this 5 bidders nonsense. I just want to see a house I like and put in a fair offer. I'm being forced into paying over the odds before we've even seen the place!! Really hoping this market cools down. My previous house is long sold and the cash in the bank.
  8. This thread hasn't been updated for a while. I've had my eye on the north Leeds (as far as Wetherby) for some time now. Looking for a place to raise my family. Seems to be very little of any interest on the market. Well at a price I'm willing to pay anyway.
  9. panholio

    One In Five Must Become An Engineer

    No one in the UK should be entitled to call themselves an Engineer unless they are chartered with the UK Engineering Council. A degree does not make an Engineer. Your father could have become chartered through what is described as the "experience route". What industry was he in?
  10. I sent them a letter last November that started with this: Dear Sirs, I am writing in reference to the two letters you sent to me on the 3rd of November 2011. I have attached copies with this letter. Firstly let me congratulate you on having the most tedious automated telephone service I have ever come across in my life. I understand the need to try and minimise calls that come through to your call centre so that you can keep costs low, but you have created something simply out of this world in its ability to infuriate. I gave up after 15 minutes and decided to communicate with you the old fashioned way. Slightly counter-productive on your part as you will now have to pay someone to respond to me in writing… but never mind, I’m glad my taxes are being put to good use.
  11. panholio

    Borrowing To Become More Expensive

    How will something like Zopa fit into this increasing cost? From what I understand this is separate from conventional banking in terms of how it sets lending rates (based on creditor rates). Are personal loans really at 18%? It may have been a while but I'm sure I still get the "you have been preapproved" nonsense though the door from my bank at 6-8%.
  12. panholio

    Some Advice

    Thanks for the replies and thoughts. I've got a lot of thinking to do. My initial estimate of a 5k loss is probably a bit of an optimistic one. It'll be worse than that. I'm leaning towards keeping the house. It's in a place I want to be, near where I work (although that's not a deal breaker for me) and it is a great house. I don't need to take in a lodger. I guess the option gives me some more financial flexibility in the future.
  13. Morning, 3 1/2 years ago I bought a house with my girlfriend. At roughly the same time I joined this site but was too far gone with the process to pull out of the purchase and went ahead. The proposal seemed sensible enough I guess (not in hindsight but hey), 3 times joint salary and we had stable jobs... but we went for a 95% mortgage. We paid £177k for a three bedroom stone end terrace in a nice suburb of Leeds. It's a great house and has had the cellar and roof space converted so there really is plenty of space. The only compromise was the lack of off street parking but we both have company cars so I wasn't too bothered. I contributed the majority of the deposit. Well the inevitable has happened and we have now split up. I'm left with a couple of choices and I'm after some of the straight talking advice this site is known for. There is no equity on the house based on an estimate of it's current value. If I wanted to f**k about for ages the agent reckons I could get within 5k of the original sale price but if I want a quick sale would see a chunky loss after fees etc. Identical house 2 doors down (has no cellar or attic conversion though) literally sold 2 weeks ago for £157k. My ex absolutely doesn’t want to take the house on (couldn’t afford it). So my choices - keep the house. The mortgage term is currently 18 years (this was my attempted effort to avoid the 35 year loan trap a lot of FTBs fall into, sensible me eh). As such I could increase the term (bank happy with this) to reduce the payments to allow me to keep the place. The mortgage is fixed until 2013 at something hideous like 5.75%. I'd pay fook all off in that time so it would be a total gamble against prices rising/ falling and what I could do with the mortgage at the end of the term. My ex gets a clean break and we just move on. Option 2 as above but take in a lodger - I could charge up to £4250 a year tax free and maintain the mortgage term. I'm an irritable ******er though so it would need to be the right kind of person. Not sure about someone in "my" house. Option 3 I cut my losses and sell. Take the hit and try and get back on my feet. I reckon I'd be at least 5k down - in theory my ex should share this I guess. I have a good job which is currently pretty stable and I earn decent money. So my original question - where do you honestly think prices will go now? Is it too much of a gamble to keep the place right now or would I be silly to sell and just hold out? Cheers
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