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dellboy

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About dellboy

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    HPC Regular
  1. Wow! This place looks like good value for money by comparison: http://www.rightmove.co.uk/new-homes-for-sale/property-40019280.html And the door handles are simply to die for. Go on, you're worth it.
  2. Amazing! We live in a country governed by economics and people are whining about having to pay for services. If you rent (as I do, btw) then you have to factor in that everything will eventually be lumped on you one way or another. If you can't negotiate - perhaps there is a queue of rich people standing behind you waving £50 bills around - then you walk away ... or you pay. Either way, it's economics and you have to live with it.
  3. Well, perhaps they're not idiots and will just pass the burden on to the renters, who will be even less able to save for a deposit. G.O. will not back down - so we end up with an indirect tax on renters.
  4. I don't know one; smart STRs, yes, but no FTBs with that sort of money in my friend list.
  5. Well, I expect that I'll be able to get one with 10% if I look around - they are advertised. This was from a building society. Still it's a far cry from 2003 where I was offered 5.5x with less than 10% down. Maybe the joint application makes a difference...
  6. So, mainly for a laugh, I applied for a mortgage: Good salary, perfect credit score, 3.5x borrowing with 10% deposit. Semi-detached, not new, good area. Declined because I needed 25% deposit. I kind of knew it was coming, but I still had to smile. If I can't borrow, then crash on! How many FTBs (not STRs) have that kind of money in the bank. I look forward to another 20% drop.
  7. Hi, It's pretty much standard practice these days - I get one each year and have been renewing for seven years. Don't read anything into the Section 21 if you also have an offer to renew the contract; he's just making sure that the statutory laws don't kick in if you don't renew.
  8. Yes, the part where she is currently buying a home (read Money Week).
  9. She's buying a house now, according to her article in Money Week. But she still predicts drops. So, really, she's not a VI at all. The BBC put her on because she is consistent, intelligent and eloquent. We either own property or we don't, but it is still possible to own property and talk about prices dropping and vice versa. Credit bubbles always burst - it's shameful that people believe that talking will somehow sustain a planet-sized bubble. It can't and it won't - in the end we run out of people to sustain the lower-end and it pops. Deal with it!
  10. They're not completely useless; they just reflect an alternate reality
  11. I agree. My daily Diet Coke at boots went up from £0.80 to £1.10 overnight. OK, so Coke wants its profits regardless of the sad state of the Pound - I'll have to chew coffee beans ...
  12. My favourite is "Get 100% of the value for just 75%" when purchasing a new home. Of course, there is no mention on the big ads that the 25% is just interest free for three or five years. And interest payments are so low at the moment that it would hardly make a difference anyway. When the interest-free period is up, it is likely that interest rates will be significantly higher. It's the usual slow-motion train wreck in action.
  13. The calculator gave me 3.0 and 3.5 times salary without asking for deposit amounts. Nevertheless, what one can get on a calculator need not represent reality; in 2005, we were offered 5x salary by Natwest but only after it was initially rejected i.e. after taking a closer look at our expenses, etc, they offered 5x.
  14. GU16 HPC STATUS: Paused Maybe it was the "bounce", but prices have stopped much of the dripping away seen during 2008. Areas around GU16 continue to get a bashing, but I'm not following them as closely.
  15. Your £50K is really there! As soon as you buy, any reduction in the resale value of your home eats into your deposit first. Also, you may be happy with your low interest repayments, but when interest rates start to rise, you're going to find things a lot tougher and you'll have zero exit strategy. You risk so much for what? Just rent a place closer and rent your current place out. Then, you run less of a risk if interest rates start going up. You'll have less interest to pay, allowing you to maximise your capital injection into the existing home, giving you a good buffer with which to undercut other LLs if the rental glut strikes your area. Sure, you'll have rent to pay, but a bit of negotiation up front will save you loads in the medium term.
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