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Tenubracon

Busiest January In Three Years - Halifax Broker

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We've been given notice by our landlords so we're considering our options for the next move. Luckily, we have a good few months to make our decision about whether to rent again or buy. Wanting to act with knowledge on my side, I called various mortgage companies this morning and ended up having an interesting conversation with the agant at the Halifax, who said:

  • They'd had their busiest January in three years
  • They'd lend to me with just a 10 % deposit
  • The 10 % deposit offer was not available for new builds and newly developed houses as the sellers generally charged a premium for these. I asked how they'd know if a house had been developed, she said they check the electoral roll to see if the sellers ever lived there and the LR to see when it last sold, etc. And that the surveyors could 'just tell', which made me chuckle - twigs in vases, rented furniture, and so on, I guess.

The agent wasn't bullish, but it was when I said that it seemed that the lending criteria are starting to relax that she started talking about the busy January. It'll be interesting to see if the Halifax figures for this month bear this out. It's also nice to see that they agree that developers are ripping folk off!

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I dont know about "busiest in three years" but I'm not suprised there more mortgages approved in January as people decide to buy now and lock in a low fixed rate before base rates rise.

But this is not actually increased demand, just people bringing forward purchases as they did in December 09.

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We've been given notice by our landlords so we're considering our options for the next move. Luckily, we have a good few months to make our decision about whether to rent again or buy. Wanting to act with knowledge on my side, I called various mortgage companies this morning and ended up having an interesting conversation with the agant at the Halifax, who said:

  • They'd had their busiest January in three years
  • They'd lend to me with just a 10 % deposit
  • The 10 % deposit offer was not available for new builds and newly developed houses as the sellers generally charged a premium for these. I asked how they'd know if a house had been developed, she said they check the electoral roll to see if the sellers ever lived there and the LR to see when it last sold, etc. And that the surveyors could 'just tell', which made me chuckle - twigs in vases, rented furniture, and so on, I guess.

The agent wasn't bullish, but it was when I said that it seemed that the lending criteria are starting to relax that she started talking about the busy January. It'll be interesting to see if the Halifax figures for this month bear this out. It's also nice to see that they agree that developers are ripping folk off!

Odd that, as Merv just confirmed the squeeze is on and only just really beginning to bite.

People think its all over.....

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I dont know about "busiest in three years" but I'm not suprised there more mortgages approved in January as people decide to buy now and lock in a low fixed rate before base rates rise.

But this is not actually increased demand, just people bringing forward purchases as they did in December 09.

True, I didn't think to mention that. Damn!

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The mortgage broker for share to buy britannia exclusive told me that applications were going through very quickly as not much was going on. He also told me that hsbc with thier good advertised rate were tuning down every other application.

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We've been given notice by our landlords so we're considering our options for the next move. Luckily, we have a good few months to make our decision about whether to rent again or buy. Wanting to act with knowledge on my side, I called various mortgage companies this morning and ended up having an interesting conversation with the agant at the Halifax, who said:

  • They'd had their busiest January in three years

  • They'd lend to me with just a 10 % deposit

  • The 10 % deposit offer was not available for new builds and newly developed houses as the sellers generally charged a premium for these. I asked how they'd know if a house had been developed, she said they check the electoral roll to see if the sellers ever lived there and the LR to see when it last sold, etc. And that the surveyors could 'just tell', which made me chuckle - twigs in vases, rented furniture, and so on, I guess.

The agent wasn't bullish, but it was when I said that it seemed that the lending criteria are starting to relax that she started talking about the busy January. It'll be interesting to see if the Halifax figures for this month bear this out. It's also nice to see that they agree that developers are ripping folk off!

I don't see that to be a problem a loan with 10% deposit subject to survey and no more than 3.5 times 1st and 1 time second gross income, all loan repayments not being more than 35% net income with proven income on a repayment basis......I would say that is responsible lending ;)

.....anyone can be busy with enquiries . ;)

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I don't see that to be a problem a loan with 10% deposit subject to survey and no more than 3.5 times 1st and 1 time second gross income, all loan repayments not being more than 35% net income with proven income on a repayment basis......I would say that is responsible lending ;)

.....anyone can be busy with enquiries . ;)

They were offering about 4.5 joint as a maximum.

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The mortgage broker for share to buy britannia exclusive told me that applications were going through very quickly as not much was going on. He also told me that hsbc with thier good advertised rate were tuning down every other application.

I guess the busiest Jan in three years is still going to be pretty quiet given the three years in question!

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They were offering about 4.5 joint as a maximum.

I looked on their site 1st income £30k, 2nd income £20k it said the amount you could borrow was £215,000.

It does seem rather a lot to borrow £1135 per month @ 4%....what if you wanted to start a family? :o

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I dont know about "busiest in three years" but I'm not suprised there more mortgages approved in January as people decide to buy now and lock in a low fixed rate before base rates rise.

But this is not actually increased demand, just people bringing forward purchases as they did in December 09.

+1

A lot of people tell me that I should buy now before interest rates go up, but they never seem to consider what that will do to prices.

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  • 285 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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