zamo Posted August 5, 2018 Author Share Posted August 5, 2018 2 hours ago, whome_yesyou said: If only there was a report available on completed mortgages; showing LTV, term, income, etc. I doubt such a thing would be open to the public though, but there isn’t any other way to know the volume of applicants maxing out. I’d be interested to see what @zamo has experienced from the broker. 4 hours ago, 2buyornot2buy said: What sort of lending multiples are they offering? HSBC were pretty much capped at 3 times joint for me. So for that 400k house you'd need to be on 125k. If the lender you quote is offering silly multiples and it's reflective of the whole market it will be having a big effect. Sole trader with 3 years accounts. Last years salary was 103k with partners 30K - so they are offering around 3 x joint Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 6, 2018 Share Posted August 6, 2018 22 hours ago, zamo said: Sole trader with 3 years accounts. Last years salary was 103k with partners 30K - so they are offering around 3 x joint Sounds like it could be the progressive? They have some great deals at the moment. It would be interesting to see what the max lending multiple your example were offering. 3 times joint is pretty tame compared to what others offer. Only 3 years sole trader accounts adds an element of risk especially if profit fluctuates. I had 13 years limited company accounts borrowing more but with a larger deposit and larger salaries. It looks like lending criteria has relaxed substantially since then. Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted August 6, 2018 Share Posted August 6, 2018 Heard a story today of a student, yes a student, who had just finished a placement year and is now in his final year of uni, buying a house. As far as my friend knows the kid got a mortgage, somehow. Heard another couple of stories about people buying multiple houses, and another couple only paying the interest off their mortgage and at the same time being able to borrow 30K for an extension. These are people in their mid-40's; how on earth will they ever actually pay off the mortgage? Quote Link to comment Share on other sites More sharing options...
zamo Posted August 6, 2018 Author Share Posted August 6, 2018 7 hours ago, 2buyornot2buy said: Sounds like it could be the progressive? They have some great deals at the moment. It would be interesting to see what the max lending multiple your example were offering. 3 times joint is pretty tame compared to what others offer. Only 3 years sole trader accounts adds an element of risk especially if profit fluctuates. I had 13 years limited company accounts borrowing more but with a larger deposit and larger salaries. It looks like lending criteria has relaxed substantially since then. It was Nat west. All they asked for was last 3 years accounts. Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 7, 2018 Share Posted August 7, 2018 (edited) 9 hours ago, zamo said: It was Nat west. All they asked for was last 3 years accounts. Was it broker only. Best 90% LTV product from Natwest I can see is 2.39%. Edit. I see it now. Broker only. A large fee there. Look at the progressive. Similar rate at 1.99 but no fee. Edited August 7, 2018 by 2buyornot2buy Quote Link to comment Share on other sites More sharing options...
zamo Posted August 7, 2018 Author Share Posted August 7, 2018 1 hour ago, 2buyornot2buy said: Was it broker only. Best 90% LTV product from Natwest I can see is 2.39%. Edit. I see it now. Broker only. A large fee there. Look at the progressive. Similar rate at 1.99 but no fee. Good find! Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 7, 2018 Share Posted August 7, 2018 6 minutes ago, zamo said: Good find! The best buy tables are really useful. A great bookmark if you're searching for a mortgage. Quote Link to comment Share on other sites More sharing options...
BelfastVI Posted August 7, 2018 Share Posted August 7, 2018 On 02/08/2018 at 00:24, upturn said: You really don't need to ask when you say "there is evidence that this is what the market wants" A 386.5 square foot House. We already have the smallest houses in Europe and the way things are going we might just beat all of Asia as well I could be wrong but when remote working comes into play over the next 30 years will there even be a need for city living. My post talks about "Single occupied dwellings". I referred to evidence that the percentage of single occupied houses is predicted to increase significantly. I didn't once refer to size and that's a separate matter. sorry for the confusion. Quote Link to comment Share on other sites More sharing options...
Accountant Belfast Posted August 7, 2018 Share Posted August 7, 2018 5 hours ago, 2buyornot2buy said: The best buy tables are really useful. A great bookmark if you're searching for a mortgage. what are these? Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 7, 2018 Share Posted August 7, 2018 4 minutes ago, Accountant Belfast said: what are these? Best buy mortgage tables. Basically an up-to-date table of mortgage products. Quote Link to comment Share on other sites More sharing options...
upturn Posted August 7, 2018 Share Posted August 7, 2018 1 hour ago, BelfastVI said: My post talks about "Single occupied dwellings". I referred to evidence that the percentage of single occupied houses is predicted to increase significantly. I didn't once refer to size and that's a separate matter. sorry for the confusion. My Man? Quote Link to comment Share on other sites More sharing options...
upturn Posted August 17, 2018 Share Posted August 17, 2018 Looks like we have serious sellers on our hands 15 days after listing and 10k knocked off like its nothing I guess 60k profit will have to do https://www.propertypal.com/9-brooklands-park-newtownards/531345/photo-16 and another one with 10k knocked off. why not https://www.propertypal.com/2-blackwood-avenue-newtownards/523602 and what is this another one with 20k knocked off https://www.propertypal.com/21-hawthorn-hill-newtownards/531039 Your eyes do not deceive you 10k off this one as well https://www.zoopla.co.uk/for-sale/details/42618268?search_identifier=316123c7ed5f9549b09351404969d7ba Your eyes do not deceive you 10k off this one as well https://www.zoopla.co.uk/for-sale/details/46868167?utm_source=criteo&utm_medium=display&utm_campaign=Visitors&utm_content=214046648&utm_term=214046648&dclid=COaVz_W19NwCFXgw0wodf2ABRQ Try moving any of these houses over the next 15 years when not one of them are hard wired. This is a builder that knows how to sell. Everyone of his houses are Hardwired https://www.propertypal.com/helens-wood-bangor/d2497 Remember when viewing to ask "is this place hardwired" when the answer is NO that will be 5k off cant have a house not hardwired sky q will skip Quote Link to comment Share on other sites More sharing options...
upturn Posted August 17, 2018 Share Posted August 17, 2018 this one just had to be shared. I would love to hear the estate agents pitch https://www.propertypal.com/26-william-street-newtownards/520709 If you can beat this in bt9 I want to see it Quote Link to comment Share on other sites More sharing options...
JoeDavola Posted August 17, 2018 Share Posted August 17, 2018 3 hours ago, upturn said: this one just had to be shared. I would love to hear the estate agents pitch https://www.propertypal.com/26-william-street-newtownards/520709 If you can beat this in bt9 I want to see it If that was in BT9 it would be twice the price. Quote Link to comment Share on other sites More sharing options...
carrick01 Posted August 17, 2018 Share Posted August 17, 2018 Not BT9 but BT7 https://www.propertypal.com/97-carmel-street-university-area-belfast/481107 smaller and you have to pay over £1000 in rates Quote Link to comment Share on other sites More sharing options...
upturn Posted August 17, 2018 Share Posted August 17, 2018 8 minutes ago, carrick01 said: Not BT9 but BT7 https://www.propertypal.com/97-carmel-street-university-area-belfast/481107 smaller and you have to pay over £1000 in rates That thing is a dump I actually used to go along that road every day and cut through the side streets with big ramps to come out at the uni. the streets were tight but i think its really close to all the bars like the globe. I quite like the vibe in that part of Belfast but I don't think you would take that one even as a fixer Quote Link to comment Share on other sites More sharing options...
jwrag Posted August 25, 2018 Share Posted August 25, 2018 Looked at this manor today. https://www.propertynews.com/property-for-sale/belfast/detached-type/dunmurry+lane/property/ECSECS42898 House is better than it appears in the photos, layout is a bit eccentric, but some decent sized rooms that are usable. Has been remodelled and made bigger. Site is a little small, with no garden behind and a small patch of grass at the front facing a main road, quite a lot of noise around all the outside areas, you can hear the motorway traffic which is near by. Estate agent very evasive about the sales history of the house, couldn't or wouldn't give any information about how come the house has been on and off the market many times over the last 5 years, or was auctioned 3 years ago. Plenty of interest at the viewing but everyone seemed aware of the chequered history. Quote Link to comment Share on other sites More sharing options...
zamo Posted August 26, 2018 Author Share Posted August 26, 2018 14 hours ago, jwrag said: Looked at this manor today. https://www.propertynews.com/property-for-sale/belfast/detached-type/dunmurry+lane/property/ECSECS42898 House is better than it appears in the photos, layout is a bit eccentric, but some decent sized rooms that are usable. Has been remodelled and made bigger. Site is a little small, with no garden behind and a small patch of grass at the front facing a main road, quite a lot of noise around all the outside areas, you can hear the motorway traffic which is near by. Estate agent very evasive about the sales history of the house, couldn't or wouldn't give any information about how come the house has been on and off the market many times over the last 5 years, or was auctioned 3 years ago. Plenty of interest at the viewing but everyone seemed aware of the chequered history. I viewed this. Damp/ rot / really low quality internals / disturbing cracks in walls / old wooden windows that don't fit properly. 100k to put it right. A property developer bought it at auction a few years ago. Gave it a lick of paint and new carpets and is trying to make 100k profit. Avoid. Quote Link to comment Share on other sites More sharing options...
jwrag Posted August 29, 2018 Share Posted August 29, 2018 Put off by the noise, didn't notice the damp/rot or cracks, could have been painted over. Unless there is something that is flagging up a problem for the surveyor this seems like a decent deal? When you look at what other sellers are looking more than £300k for, it's almost reasonable. My only hope is that the Brexit induced zombie apocalypse will bring some much needed sanity to the housing market! At least 80k over priced! https://www.propertypal.com/39-the-green-upper-dunmurry-lane-belfast/534677 At least 70k over priced! https://www.propertypal.com/3-forest-park-upper-dunmurry-lane-belfast/534826 Quote Link to comment Share on other sites More sharing options...
yadayada Posted August 29, 2018 Share Posted August 29, 2018 2 hours ago, jwrag said: Put off by the noise, didn't notice the damp/rot or cracks, could have been painted over. Unless there is something that is flagging up a problem for the surveyor this seems like a decent deal? When you look at what other sellers are looking more than £300k for, it's almost reasonable. My only hope is that the Brexit induced zombie apocalypse will bring some much needed sanity to the housing market! At least 80k over priced! https://www.propertypal.com/39-the-green-upper-dunmurry-lane-belfast/534677 At least 70k over priced! https://www.propertypal.com/3-forest-park-upper-dunmurry-lane-belfast/534826 I'd be more interested in whether there's still an economy to work in. Quote Link to comment Share on other sites More sharing options...
mmca22gr Posted August 30, 2018 Share Posted August 30, 2018 (edited) On 26/08/2018 at 12:13, zamo said: I viewed this. Damp/ rot / really low quality internals / disturbing cracks in walls / old wooden windows that don't fit properly. 100k to put it right. A property developer bought it at auction a few years ago. Gave it a lick of paint and new carpets and is trying to make 100k profit. Avoid. Was on the market for £325k in Dec 2015 before it went to Auction (reserve of £195k) Was this owned by architect who was on Grand Designs? Maybe before 2015. Was also on the rental market before going to auction so it may have been empty for a while hence the dampness? Edited August 30, 2018 by mmca22gr Quote Link to comment Share on other sites More sharing options...
2buyornot2buy Posted August 30, 2018 Share Posted August 30, 2018 1 hour ago, mmca22gr said: Was on the market for £325k in Dec 2015 before it went to Auction (reserve of £195k) Was this owned by architect who was on Grand Designs? Maybe before 2015. Was also on the rental market before going to auction so it may have been empty for a while hence the dampness? It was an architect office wasn't it? Quote Link to comment Share on other sites More sharing options...
jwrag Posted August 31, 2018 Share Posted August 31, 2018 Yes was used as the office for the architect who built the Grand Designs house behind this one. Haven'y noticed any occupation of this for 3 or 4 years. Super evasive estate agent (wouldn't admit to being an EA, yet was handing out property brochures and showing prospective buyers around) told me the house was likely to have been sold at auction due to bankruptcy. Quote Link to comment Share on other sites More sharing options...
jwrag Posted August 31, 2018 Share Posted August 31, 2018 What about these other 300K + houses, is it agreed that they are way over priced? https://www.propertypal.com/39-the-green-upper-dunmurry-lane-belfast/534677 https://www.propertypal.com/3-forest-park-upper-dunmurry-lane-belfast/534826 Quote Link to comment Share on other sites More sharing options...
zamo Posted September 1, 2018 Author Share Posted September 1, 2018 20 hours ago, jwrag said: What about these other 300K + houses, is it agreed that they are way over priced? https://www.propertypal.com/39-the-green-upper-dunmurry-lane-belfast/534677 https://www.propertypal.com/3-forest-park-upper-dunmurry-lane-belfast/534826 Lower dunmurry lane is justifiable over 300K. Upper dunmurry lane is rough in parts and those 2 are 50k overpriced Quote Link to comment Share on other sites More sharing options...
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