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drrayjo

Guardian Property Clinic

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Could have saved some money and just directed their readers to our place!

FWIW;

http://www.guardian.co.uk/money/blog/2009/...es-house-prices

So what exactly is going on in the housing market? Last week, Nationwide said house prices had risen in June, but this week Halifax reported a drop. Estate agents and lenders say the number of would-be buyers has increased over the last few months, but figures remain low by historic standards.

Banks and building societies are coming back into the market with high loan-to-value loans, but brokers say they are reserving them for borrowers with squeaky clean credit records. The Bank of England base rate remains low, but fixed-rate deals are getting more expensive.

So are we seeing the first signs of an upturn in activity and house prices, or a dead cat bounce? If you are thinking of moving or remortgaging, or just wondering what your options are, you could be forgiven for being confused. From 1.30pm on Thursday we have a panel of experts available to answer your questions.

Simon Rubinsohn, chief economist of the Royal Institution of Chartered Surveyors, Richard Morea of mortgage broker London & Country, Andrew Montlake of mortgage broker Coreco, and David Smith of property consultancy Carter Jonas will do their best to answer your questions on mortgages, homebuying and the wider housing market.

Advice is for guidance only – if you want to take your query further use our search to find an independent financial adviser in your area. If it's just the basics you are after try our factsheets page.

Our panel will answer as many questions as they can during the hour, but unfortunately it may not be possible for them to help everyone. Answers will appear below.

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butteredballs

09 Jul 09, 1:20pm (14 minutes ago)

Dear crack dealers,

Is now a good time to buy some crack?

There. That feels better.

:lol:

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More useful from yesterday's Guardian Money Blog!

We tried to imagine what warnings could be attached to home loans and came up with the following:

• Taking a mortgage can cause an obsession with house prices and tedious dinner party conversations.

• Failure to maintain monthly repayments can lead to bald men with necks thicker than their heads dropping by to kidnap your children.

• Paying off a mortgage is no guarantee of wealth: house prices may have fallen to zero and your home will be worth less than a studio flat in Gdansk.

• Cuddly Midlands building societies may sell your home loan to a FFF-rated bank in Iceland.

• Taking a mortgage may involve putting down a deposit equal to the national debt of an eastern European country.

• Your first home may be a "luxury apartment" consisting of a cupboard with a fold-down bed and a view of the council tip.

• Beware of flexi-capped, standard variable rate, near-prime tracker repayment loans with overhanging small print.

• Reading a 32-page soul-sapping application form and key facts illustration can lead to sore eyes and nausea and may leave you enslaved to a half-bust bank until you are 78 years old.

• Your mortgage adviser may be a spotty 19-year-old who failed GSCE maths.

• House prices can go down as well as up.

Edited by drrayjo

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