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tuggybear

My Prognosis

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Hi, Sold in August 2007 (for highest price) - then rented for 1 year - then bought again. Back then there were a lot of distressed sellers and PANIC in market, I fortunately managed to pick up a property for 35% below initial asking, I went to see the EA who was agreeing with every thing I said (HPC)( and in all honesty pushed sale through to get a sale). There was panic (Midlands Area).

From then to now, I have seen modest drops in market (bee) and are fastly approaching for similar property close to my acceptance price. :D

I think that obtaining Mortgages will be the main stumbling block, and from this a sense of sensible lending.

I have three daughters, 18,12,6. I have had enough of all of them; they have no realistic views and hope they will all bugger off ASAP and at a price affordable to them. (Girls are bloody expensive).

I recently re-acquired about a loan for my 18 yr old, for her first car. She has no debt, and they were offering her nothing! (Lloyds) for a 2K loan earning 9k a year. I could not believe this and went to see her bank manager (I’m also in Lloyds). Indeed the computer said " NO Fukking way" so I did the obvious and used my credentials, so no cc debt, no current debt, savings of +5k, earnings of 45+k (private sec) and 2.3X income mortgage they offered me, yes me ..............................26% interest.

So I withdrew all credit and lent it my daughter (0%).

I truly hope that house prices fall big time (even as an owner) because I have three daughters that will need to find properties as I did when I was 17.

I'm expecting a sudden realistic HPC because no FTB (my daughter) can buy!

END OF! B)

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Guest Noodle

Hi, Sold in August 2007 (for highest price) - then rented for 1 year - then bought again. Back then there were a lot of distressed sellers and PANIC in market, I fortunately managed to pick up a property for 35% below initial asking, I went to see the EA who was agreeing with every thing I said (HPC)( and in all honesty pushed sale through to get a sale). There was panic (Midlands Area).

From then to now, I have seen modest drops in market (bee) and are fastly approaching for similar property close to my acceptance price. :D

I think that obtaining Mortgages will be the main stumbling block, and from this a sense of sensible lending.

I have three daughters, 18,12,6. I have had enough of all of them; they have no realistic views and hope they will all bugger off ASAP and at a price affordable to them. (Girls are bloody expensive).

I recently re-acquired about a loan for my 18 yr old, for her first car. She has no debt, and they were offering her nothing! (Lloyds) for a 2K loan earning 9k a year. I could not believe this and went to see her bank manager (I’m also in Lloyds). Indeed the computer said " NO Fukking way" so I did the obvious and used my credentials, so no cc debt, no current debt, savings of +5k, earnings of 45+k (private sec) and 2.3X income mortgage they offered me, yes me ..............................26% interest.

So I withdrew all credit and lent it my daughter (0%).

I truly hope that house prices fall big time (even as an owner) because I have three daughters that will need to find properties as I did when I was 17.

I'm expecting a sudden realistic HPC because no FTB (my daughter) can buy!

END OF! B)

Cracking post!

:lol:

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Have you been away Tuggy, or have I just been missing your posts??

I have always been here, reading EVERY POST, but after buying a property, I would feel somewhat bragging for buying a property, and was not comfortable posting as a owner - occupier

I visit a few sites each day- Every day, and this is site is a must!

Edited by tuggybear

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Good jobs for the young are few and far between. No one will get a mortgage who works at Tescos or small retailer type businesses. The big mortgage business was like back when a steel mill had 10,000 workers. All of them on big time guarunteed income.

Right now the main market for houses are boomers themselves, buying and speculating on housing. Hoping to sell it to a greater fool later. Where I would become bullish on housing is if I saw some serious wage increases and young people making money hand over fist.

The main young people to lend to are ones in their own business who are making big money. But that is a risky game, because these contractor type businesses can have a great few years, then go broke the next year.

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Thanks Noodle, looks good so far.... it really is fast!

I have always been here, reading EVERY POST, but after buying a property, I would feel somewhat bragging for buying a property, and was not comfortable posting as a owner - occupier

I visit a few sites each day- Every day, and this is site is a must!

Tuggy, I am an "owner" too..... I bought 2 years ago, knowing that I risked "losing" a lot of money. However, family comes first, and it needed to be done for all sorts of reasons. I have never felt uncomfortable posting here just because I am buying. I still fervently believe that house prices are way too high and fully support an HPC! I think there are plenty of "owners" here that feel the same way.

Edited by Dubai

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Thanks Noodle, looks good so far.... it really is fast!

Tuggy, I am an "owner" too..... I bought 2 years ago, knowing that I risked losing a lot of money. However, family comes first, and it needed to be done for all sorts of reasons. I have never felt uncomfortable posting here just because I am buying. I still fervently believe that house prices are way too high and fully support an HPC! I think there are plenty of "owners" here that feel the same way.

Thanks, finally got to 500 posts :D , Yes you are correct, I also aquired a small wine drinking problem, when ever i posted / read HPC, so i also broke the mould,for this. :P

Anyway life could not be beter, semi retired for job (no overtime required +30 hrs per week at previous mortgage levels, and self built a study and 5th bedroom with a kitchen extension (19ft x 26ft) approved(need to save for materials (labour free) and a play room 15x14 approved also (but will have to justify with OH) so plenty to do but saddly lacking energy levels as when i was younger.

How about you?

.

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I'm an owner occupier too, but still hope for HPC as I want to move. This site still remains an important pit stop.

The HPC is happening here in NI as we speak and it looks like it's gonna be a doozie. . .

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Thanks, finally got to 500 posts  :D , Yes you are correct, I also aquired a small wine drinking problem, when ever i posted / read HPC, so i also broke the  mould,for this.  :P

Anyway life could not be beter, semi retired for job (no overtime required +30 hrs per week at previous mortgage levels,  and self built a study and 5th bedroom with a kitchen extension (19ft x 26ft) approved(need to save for materials (labour free) and a play room 15x14 approved also (but will have to justify with OH) so plenty to do but saddly lacking energy levels as when i was younger.

How about you?

.

Life sounds good for you! Three daughters will be a source of anxiety, I'm sure, but still, lucky you! Your house sounds nice.... that's a big extension!.... and you'll only lose money if you decide to sell in the near/ medium future.... 

I'm an owner occupier too, but still hope for HPC as I want to move. This site still remains an important pit stop.

The HPC is happening here in NI as we speak and it looks like it's gonna be a doozie. . .

I want an HPC so my kids can afford a half decent place at a reasonably early age!

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I'm a fully paid-up OO and want HPC because, contrary to what many believe, high house prices are useless to people like me. There's not a single positive to HPI, unless I decide to sell up and emigrate. Every aspect of high HPs, from stamp duty to council/inheritance tax to the cost of getting a place with more land, is negative for me, imposed by lenders and borrowers (speculators, all) who collectively engaged in an insane bidding war.

Basically, I'd prefer to live in a country with a rational system of economic incentives.

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"Life sounds good for you! Three daughters will be a source of anxiety, I'm sure, but still, lucky you! Your house sounds nice.... that's a big extension!.... and you'll only lose money if you decide to sell in the near/ medium future.... "

Life is good, extension is big, but to build 5th bedroom (in garage slope roof, 9 x 12, a study 9x 12, and inner hall (ready for playroom 6X6 ) all built within exsiting double garage (leaving 10 x 15) single garage total cost £3200 after ebay insulation, and at cost building materials (my many hours labour , which is free) .

I am realisticaly expecting kitchen 9ft x 19ft extension (total26ft X19ft ) overall inc exsiting @5k (building works and foundations)+ 8k for kitchen units and granite worktops complete + floor plus 6 X 5 in exsitng kitchen for utility ,(my labour) . Total 13K, will have to save very hard for this.,

15x14 Playroom on rear of garage, groundwork 3k (boarders are conifers and foundations have to be 3m deep?? hence ~3k ) building 3K for complete . planing permision granted but just a pipe dream (not willing up mortgage, so by time i'm finished saving, children will be grown up).

Yep bricks, sand and cement don't cost that much, you just have to learn how to build it to save!

Edited by tuggybear

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I recently re-acquired about a loan for my 18 yr old, for her first car. She has no debt, and they were offering her nothing!

Get her a bike, no 18 year old needs a car.

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I have three daughters, 18,12,6. I have had enough of all of them; they have no realistic views and hope they will all bugger off ASAP and at a price affordable to them. (Girls are bloody expensive).

High time the missus had the next daughter in the sequence....

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I recently re-acquired about a loan for my 18 yr old, for her first car. She has no debt, and they were offering her nothing! (Lloyds) for a 2K loan earning 9k a year. I could not believe this and went to see her bank manager (I’m also in Lloyds). Indeed the computer said " NO Fukking way" so I did the obvious and used my credentials, so no cc debt, no current debt, savings of +5k, earnings of 45+k (private sec) and 2.3X income mortgage they offered me, yes me ..............................26% interest.

So I withdrew all credit and lent it my daughter (0%).

You only seem to be confirming how clever (not) we think the banks are.

Any number of credit card companies would have given her a card with an introductory interest free period of up to 15 months. Rinse and repeat for the two or three years she needs the loan for. Provided a credit card is used in a disciplined way they can be a good way to to finance the purchase of a small car.

The incentive for the bank is they think they have a future profitable customer. Indeed they have with their transaction charges on all purchases even if the card holder always clears the balance in full every month.

Don't get angry get even.

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  • 152 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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