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a friend of a friend is currently trying to sell his shitty little 1 bed flat and has an interested party and an asking price offer but the buyer appears to be having trouble with the mortgage.

Anyway this moron has already gone and got himself approved for a 90% mortgage for a £200k house. It's a tracker BR+~3.5% costing him £900 per month. And offered asking price on the house he wants. This £900/month repayment will be stretching him and the misses and when asked what he will do when rates rise, his response was 'they won't rise and even if they do we can afford up to 2%'

What the hell is wrong with people? I can wait to see this fool get raped when rates rise in a year or two!

Some peoples stupidity is shocking.

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a friend of a friend is currently trying to sell his shitty little 1 bed flat and has an interested party and an asking price offer but the buyer appears to be having trouble with the mortgage.

Anyway this moron has already gone and got himself approved for a 90% mortgage for a £200k house. It's a tracker BR+~3.5% costing him £900 per month. And offered asking price on the house he wants. This £900/month repayment will be stretching him and the misses and when asked what he will do when rates rise, his response was 'they won't rise and even if they do we can afford up to 2%'

What the hell is wrong with people? I can wait to see this fool get raped when rates rise in a year or two!

Some peoples stupidity is shocking.

This thinking brought first timers back to market when the last dip was going. Rates will and are rising whatever anyone says. The crisis is just brewing up the 2nd leg. It has twitched and been scratched and will get up soon.

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a friend of a friend is currently trying to sell his shitty little 1 bed flat and has an interested party and an asking price offer but the buyer appears to be having trouble with the mortgage.

Anyway this moron has already gone and got himself approved for a 90% mortgage for a £200k house. It's a tracker BR+~3.5% costing him £900 per month. And offered asking price on the house he wants. This £900/month repayment will be stretching him and the misses and when asked what he will do when rates rise, his response was 'they won't rise and even if they do we can afford up to 2%'

What the hell is wrong with people? I can wait to see this fool get raped when rates rise in a year or two!

Some peoples stupidity is shocking.

Presume that, as it's one bed, there's no kiddies yet? Presuming this is based on a joint mortgage, how are they going to afford it if the woman has time off for kids? Totally irresponsible lending still happening it would seem...

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Presume that, as it's one bed, there's no kiddies yet? Presuming this is based on a joint mortgage, how are they going to afford it if the woman has time off for kids? Totally irresponsible lending still happening it would seem...

+1

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Presume that, as it's one bed, there's no kiddies yet? Presuming this is based on a joint mortgage, how are they going to afford it if the woman has time off for kids? Totally irresponsible lending still happening it would seem...

You presume correct.

Also discovered that the job he is currently doing is working purely on public sector contracts at the moment :D

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The thing I've learnt is that this caliber of person is present in all walks of life, you meet them every day. People seem to have this notion that because somebody has a job title or profession, or even worse is billed as 'an expert', that they are exempt from this when in fact it probably makes it more relevant than ever!

You have to make sure that your firewall is raised at all times!

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a friend of a friend is currently trying to sell his shitty little 1 bed flat and has an interested party and an asking price offer but the buyer appears to be having trouble with the mortgage.

Anyway this moron has already gone and got himself approved for a 90% mortgage for a £200k house. It's a tracker BR+~3.5% costing him £900 per month. And offered asking price on the house he wants. This £900/month repayment will be stretching him and the misses and when asked what he will do when rates rise, his response was 'they won't rise and even if they do we can afford up to 2%'

What the hell is wrong with people? I can wait to see this fool get raped when rates rise in a year or two!

Some peoples stupidity is shocking.

A couple of friends have bought recently (well in the last year or so) and are on reasonable fixed term deals (for between 3-5 years)..I asked them what they would do when they come to the end of them..."Oh, we haven't really thought about that yet..We'll think about it nearer the time".. FFS..

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The thing I've learnt is that this caliber of person is present in all walks of life, you meet them every day. People seem to have this notion that because somebody has a job title or profession, or even worse is billed as 'an expert', that they are exempt from this when in fact it probably makes it more relevant than ever!

You have to make sure that your firewall is raised at all times!

Very irritating when the media present 'experts' whose views have no greater insight than the average Joe. Particularly galling to hear them if you happen to be unemployed, even if you do not appear on the government figures.

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A couple of friends have bought recently (well in the last year or so) and are on reasonable fixed term deals (for between 3-5 years)..I asked them what they would do when they come to the end of them..."Oh, we haven't really thought about that yet..We'll think about it nearer the time".. FFS..

because attitudes are so engrained then their parents or other monied relatives may take pity on them as deserving victims and bail them out, subconciously they possibly accept this before the fact

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a friend of a friend is currently trying to sell his shitty little 1 bed flat and has an interested party and an asking price offer but the buyer appears to be having trouble with the mortgage.

Anyway this moron has already gone and got himself approved for a 90% mortgage for a £200k house. It's a tracker BR+~3.5% costing him £900 per month. And offered asking price on the house he wants. This £900/month repayment will be stretching him and the misses and when asked what he will do when rates rise, his response was 'they won't rise and even if they do we can afford up to 2%'

What the hell is wrong with people? I can wait to see this fool get raped when rates rise in a year or two!

Some peoples stupidity is shocking.

For someone who can forsee the future so well, you sound like quite a bitter individual Pent Up. 'What the hell is wrong with people?' - indeed.

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For someone who can forsee the future so well, you sound like quite a bitter individual Pent Up. 'What the hell is wrong with people?' - indeed.

I can't forsee the future. I can look at the fundamental economic evidence and make an informed decision as to what a likely outcome will be. I can also learn from other peoples mistakes over the last three years and decide will I not end up like them. Some people it seems can't do this, these people will have to learn from their own mistakes.

So do you consider what the above person has done to be sensible?

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For someone who can forsee the future so well, you sound like quite a bitter individual Pent Up. 'What the hell is wrong with people?' - indeed.

EBSH,

Did you join just to post that? What a prawn!

My guess is you too have a large mortgage that you can just afford if rates don't rise, and you are pooping your pants! ;)

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I can't forsee the future. I can look at the fundamental economic evidence and make an informed decision as to what a likely outcome will be. I can also learn from other peoples mistakes over the last three years and decide will I not end up like them. Some people it seems can't do this, these people will have to learn from their own mistakes.

So do you consider what the above person has done to be sensible?

Economic fundamentals went out of the window a long time ago.

You could argue that the macroeconomic market has been irrational since the 30s. Everything since has been a free market, backed by military power.

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@PentUp

Thanks for your reply - I, like you, are not party to all of the facts so we cannot make a sound judgement as to whether it is sensible. A bank, apparently, even in this environment thinks that it is - so perhaps you may not be able 'to enjoy watching them get raped' in the future as you so nicely put it. Personally, I do not revel in the anticipation of other people's misfortune whether it is self inflicted or not which was the point of my comment. I agree with the general thesis of this site in that housing is vastly overpriced at the moment but I have thought that for about 10 years or more - like you I cannot predict the future.

@Hip to be bear

Thanks for your concern - I do like prawns as well! Better go now, before I poop my pants again!

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@PentUp

Thanks for your reply - I, like you, are not party to all of the facts so we cannot make a sound judgement as to whether it is sensible. A bank, apparently, even in this environment thinks that it is - so perhaps you may not be able 'to enjoy watching them get raped' in the future as you so nicely put it. Personally, I do not revel in the anticipation of other people's misfortune whether it is self inflicted or not which was the point of my comment. I agree with the general thesis of this site in that housing is vastly overpriced at the moment but I have thought that for about 10 years or more - like you I cannot predict the future.

To be honest I do revel in the anticipation of other peoples misfortunate when it's inflicted by their own stupidity.

Update: It seems the person who had offered on his flat can't get a mortgage. So it's a very lucky escape for him. He had two or three other viewers since on came on the Market but no offers. I expect he'll be chasing the Market down like many of the others in my area.

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@Pent Up

Why do you care so much what others do - are you envious? If you really believe that there will be a HPC then people near you exposing themselves to unreasonable risks will help the stack of cards to fall - you should be pleased.

@HTTB

I forgot to add - Apart from prawns I really like guessing games. I hope that you will not mind if I take my turn;

I guess that you; are over 30; live at home with you parents; are single - am I close?

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@Pent Up

Why do you care so much what others do - are you envious? If you really believe that there will be a HPC then people near you exposing themselves to unreasonable risks will help the stack of cards to fall - you should be pleased.

I don't particulary care what others do. I most certainly am not envious, if I wished to take on a 90% mortgage on max income I could 'buy' a considerably more expensive property. Why would anyone be envious of someone who is quite obviously overpaying for house which will most likely cause his financial ruin? It's just nice to highlight their stupidity for others here to see. It won't help the house of cards collapse it will only serve to further inflate the bubble and cause the inevitable crash to be even greater.

It's also nice to revel in copious amounts of shadenfreude when now the crash has resumed and people realise we were right.

As you're playing guessing games. I'd guess your a highly leveraged home owner who does agree with the concept of HPC.

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But you do really care too much or else why bother to post your bitter little missives wishing that bad things will happen to other people. And if they do eventually realise that 'you were right' all along, so what - they still won't like you. This is going to be my last post on this one. If you are a troll - then well done I responded. If you are not a troll and are serious then you are extremely immature, very sad and possibly in need of help. All of this anger that you feel towards other people is no doubt an expression of your self loathing reflected onto the outside world.

BTW my guessing game was a response to your fellow traveller Hip to be Bear who speculated about my circumstances because I pointed out how sad your original post was. Incidentally, you are both way off the mark but this serves as another example of the sloppy thinking that characterises your comments (I say something that you don't want to hear so therefore I must be part of group X ~ 2+2 = 5).

toodle Pip old bean!

Edited by el burro sin nombre

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But you do really care too much or else why bother to post your bitter little missives wishing that bad things will happen to other people. And if they do eventually realise that 'you were right' all along, so what - they still won't like you. This is going to be my last post on this one. If you are a troll - then well done I responded. If you are not a troll and are serious then you are extremely immature, very sad and possibly in need of help. All of this anger that you feel towards other people is no doubt an expression of your self loathing reflected onto the outside world.

BTW my guessing game was a response to your fellow traveller Hip to be Bear who speculated about my circumstances because I pointed out how sad your original post was. Incidentally, you are both way off the mark but this serves as another example of the sloppy thinking that characterises your comments (I say something that you don't want to hear so therefore I must be part of group X ~ 2+2 = 5).

toodle Pip old bean!

Why do you care to comment ?

Are you a bitter over stretched home owner, idiot estate agent or a BTL leech ?

It's sad that you like to comment on how sad other people are...sad-o.

Which makes me sad too I guess...but at least I'm not an over-stretched home owner, idiot estate agent or a BTL leech,so slightly less sad that that bunch as a-oles.

Edited by TheCountOfNowhere

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But you do really care too much or else why bother to post your bitter little missives wishing that bad things will happen to other people. And if they do eventually realise that 'you were right' all along, so what - they still won't like you. This is going to be my last post on this one. If you are a troll - then well done I responded. If you are not a troll and are serious then you are extremely immature, very sad and possibly in need of help. All of this anger that you feel towards other people is no doubt an expression of your self loathing reflected onto the outside world.

BTW my guessing game was a response to your fellow traveller Hip to be Bear who speculated about my circumstances because I pointed out how sad your original post was. Incidentally, you are both way off the mark but this serves as another example of the sloppy thinking that characterises your comments (I say something that you don't want to hear so therefore I must be part of group X ~ 2+2 = 5).

toodle Pip old bean!

He was a strange one... Maybe one those free love do gooder hippy types?

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I could understand this if it were a first time buyer, but from someone who has had a mortgage its unbelievable.

I guess some people don't actually care if they can't afford the mortgage?

I would have sleepless nights if i couldn't pay a bill let alone a mortgage. For me I have worked all of my life to get what i have, so to loose anything would hurt me so bad.

Maybe your friend was born with the silver spoon or has a family who will bail him out if the going gets tough.? B)

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I could understand this if it were a first time buyer, but from someone who has had a mortgage its unbelievable.

I guess some people don't actually care if they can't afford the mortgage?

I would have sleepless nights if i couldn't pay a bill let alone a mortgage. For me I have worked all of my life to get what i have, so to loose anything would hurt me so bad.

Maybe your friend was born with the silver spoon or has a family who will bail him out if the going gets tough.? B)

Firstly he's a collegue of a family member rather than friend.

Secondly strangly he's not got rich parents and certainly was not born with a silver spoon in his mouth. I think he is one of many of today's younger generation who completely lack any financial intelligence and have no desire to learn. These people will have to learn the hard way.

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Firstly he's a collegue of a family member rather than friend.

Secondly strangly he's not got rich parents and certainly was not born with a silver spoon in his mouth. I think he is one of many of today's younger generation who completely lack any financial intelligence and have no desire to learn. These people will have to learn the hard way.

I am sure this is a generational thing, bit broad brush but based on the following age bands:

20-30: graduate sort, drenched in debt, where (unassisted) property ownership can only ever be a dream. This group, as first time buyers, would traditionally have underpined the housing market .

30-40: a 15 year diet of "prices only ever go up, why waste money on rent, etc". Still clinging to the dream. Though, at this stage, this group will be questioning their long held beliefs, a "wobble" if you like.

40-55: "seen it all before, prices go down as well as up but been in the housing game long enough, with enough equity, not to give a fck". Well, that unless there is some "life changing event" like a divorce.

BTW Pent Up, despite the negativity shown above, I have enjoyed your anecdote.

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  • 260 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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