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Admire His Balls, Not Sure Of The Stupidity

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Someone I know desperately wanted to buy a house in the most prestigous road in the area, backs onto the Royal golf course, lots of punters suffering from premature ejaculation thinking the Open next year will mean they can rent out their house for thousands...Anyhow, this guy had approx 250K equity in his original house, could not wait to sell, so put in full offer price on new house of 875K. Moves there (bridging type loan presumably) whilst his original home sells. Takes 8 months to sell, has to lower his price by 50K, so now at best has only 200K equity in house that he paid full asking price for. Now has 675K mortgage on a property that may be worth 20% less than he paid for it...scary...anyone seen anything worse?? :o

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Maybe he has interest only on a defered mortgage.

Good Luck to him even in a rising Market you would be hard pushed to service that sucker and come out wearing your shirt.

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This sounds like one of my mates, wouldn't be around the Manchester Area by any chance?

Hoylake is the area Jay, the Open is coming here next year, lot of folk getting over excited, we can all rent our house out for 5k a week according to the local agents...yeah right...rather stay here and watch it myself :lol:

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One of my mates have had his house on the market for the past year. He wants to buy a really nice house on a golf course because he believes this course will become part of the PGA circuit and may one day host the Masters.

He also mention the rent that can be obtain during these events.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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