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Dave Beans

Negative Equity - One Show....

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The advice at the end was, "house prices usually go up, the key is time, not timing" Wrong. I'll stick with timing personally. , "if you are planning to buy now, think if you can still afford it when interest rates double" - which they've said to almost certainly expect to happen soon. Oh and to pay off as much of the principle now while rates re low, which is good advice.

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How the bloody 'ell they can afford to leave their second home empty for two years, with a mortgage of over 800 quid a month...was she that girl on the shite factor the other day?

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I thought it was classic when Johnny rotten was on the one show - the female presenter couldn't get her head around the fact it wasn't an act, total confusion

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The advice at the end was, "house prices usually go up, the key is time, not timing" Wrong. I'll stick with timing personally. , "if you are planning to buy now, think if you can still afford it when interest rates double" - which they've said to almost certainly expect to happen soon. Oh and to pay off as much of the principle now while rates re low, which is good advice.

indeed, if capital preservation is your goal, then buying assets when the costs to do so are at all time lows is NOT the time to do it.

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Great to see this on the one show. It's been a good week for the bears.

The advice at the end was, "house prices usually go up, the key is time, not timing" Wrong. I'll stick with timing personally. , "if you are planning to buy now, think if you can still afford it when interest rates double" - which they've said to almost certainly expect to happen soon. Oh and to pay off as much of the principle now while rates re low, which is good advice.

Interest rates doubling is the least of their worries. Even if they returned to a pretty normal 5%, that's obviously a 10 fold rise over todays rates.

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indeed, if capital preservation is your goal, then buying assets when the costs to do so are at all time lows is NOT the time to do it.

+ When the asset is at (almost) an all time high :)

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How the bloody 'ell they can afford to leave their second home empty for two years, with a mortgage of over 800 quid a month...

Can't understand why they had that place empty for so long. Why didn't they just reduce the rent they were asking until they let it? Surely some rental income is preferable to zero rental income?

Or were they just hoping someone would come along and buy it for the price they wanted?

It never ceases to amaze me how people are so shocked, and whinge and moan when prices go down by even a small amount.

Yet not one of them complained when they were increasing at such a ridiculous rate.

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Personally I love all this positive attitude by sellers. When the majority are stubborn and chasing prices down it means the real falls are sharper and more pronounced. If everyone adjusted to more reasonable prices immediately, then sales would pick up and the drops would be a trickle rather than an avalanche. It's excellent for potential buyers if you just sit on the sidelines and watch the debacle.

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Can't understand why they had that place empty for so long. Why didn't they just reduce the rent they were asking until they let it? Surely some rental income is preferable to zero rental income?

Or were they just hoping someone would come along and buy it for the price they wanted?

It never ceases to amaze me how people are so shocked, and whinge and moan when prices go down by even a small amount.

Yet not one of them complained when they were increasing at such a ridiculous rate.

Aren't there certain clauses in the mortgage whereby you have to get written agreement in order to rent it out? In some circumstances, you can't rent it out for x number years after you've moved in?

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Aren't there certain clauses in the mortgage whereby you have to get written agreement in order to rent it out? In some circumstances, you can't rent it out for x number years after you've moved in?

In the mortgages I have seen it says you must live in the house i.e. not BTL. Admittedly on seen half a dozen mortgage contracts. Banks have commercial BTL mortgages at a different rate and different T&Cs for this purpose.

Though seems many people think its OK to simply not tell the bank and advise people to just do it. Seems peoples morals are liquid and easily shift when it suits them. Bunch of fraudulent monkeys.

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Is anyone watching Watchdog now?

There's something about shoddy new builds, but the thing on now is worth a laugh too.

Some old woman took out a loan from Santander. She fill ill, so they agreed to WRITE THE LOAN OFF with very little drama. They then accidently wrote 2 letters to her re missed payments. They apologised, gave her £120 COMPENSATION, and yet the womans daughter is still complaining about how she's been treated. WTF?

Aaaaarrrggggh!

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Is anyone watching Watchdog now?

There's something about shoddy new builds, but the thing on now is worth a laugh too.

Some old woman took out a loan from Santander. She fill ill, so they agreed to WRITE THE LOAN OFF with very little drama. They then accidently wrote 2 letters to her re missed payments. They apologised, gave her £120 COMPENSATION, and yet the womans daughter is still complaining about how she's been treated. WTF?

Aaaaarrrggggh!

Santander, says it all. Heard nothing but bad news from family and friends with them. Formerly with them! ;)

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Is anyone watching Watchdog now?

There's something about shoddy new builds, but the thing on now is worth a laugh too.

Some old woman took out a loan from Santander. She fill ill, so they agreed to WRITE THE LOAN OFF with very little drama. They then accidently wrote 2 letters to her re missed payments. They apologised, gave her £120 COMPENSATION, and yet the womans daughter is still complaining about how she's been treated. WTF?

Aaaaarrrggggh!

how much was the loan for and on what rate?

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how much was the loan for and on what rate?

I think they said £8k but was only half listening.

Sounds as though they were very reasonable from what I heard.

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I see the Simpsons is on board too, from last nights episode :D

Lenny: Hey Homer, how can you afford to keep having these parties every year?

Homer: I have an "equity loan", I keep spending, and the stupid house picks up the tab!

<cut to Gil the financial advisor>

Gil: And this is what you're new payment is going to be

Homer: Arrghh! It's so high, it's got a comma in it!

Ned Flanders then does a BMV buy and rent back, he's the cartoon world's Ajay Ahuja!

:D:D

Edited by pete.hpc

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News at Ten last night had a piece on the recent low mortagage approvals.

Article finished with presenter saying "the best deals are being reserved for people with large deposits and a good credit history"... with the usual MSM tone that lending money to people who were likely to pay it back was a BAD thing

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News at Ten last night had a piece on the recent low mortagage approvals.

Article finished with presenter saying "the best deals are being reserved for people with large deposits and a good credit history"... with the usual MSM tone that lending money to people who were likely to pay it back was a BAD thing

Good job I've spent the last 6 years saving a large deposit and maintaining a good credit history then.

What a completely unforeseeable outcome.

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  • 145 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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