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A nice 2 page spread right in the middle, happily publicising the findings of our friends at propertyforecasts.co.uk. Guess what, prices are to soooooooooaaaaaaaaaaaaaaaaaaaaaaaar!!!!!!!

Don' read this if you are feeling delicate this morning. I am tempted to e-mail the paper about this story but the best I can come up with so far is along the lines of "You stupid ******* *******", which isn't very constructive.

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A nice 2 page spread right in the middle, happily publicising the findings of our friends at propertyforecasts.co.uk. Guess what, prices are to soooooooooaaaaaaaaaaaaaaaaaaaaaaaar!!!!!!!

Don' read this if you are feeling delicate this morning. I am tempted to e-mail the paper about this story but the best I can come up with so far is along the lines of "You stupid ******* *******", which isn't very constructive.

Will joe public read the smallprint though?

Taken from propertyforecasts website:

<

Terms and conditions

Technical Forecasts Limited (“TFL”) whose registered office is Aldwych House 81 Aldwych London WC2B 4HP but whose trading address is Castle Court 12a High Street Arundel West Sussex BN18 9AB (Company registered number: 02224985) will supply forecasts to you (“the User”) subject to the following terms and conditions

1. Forecasts are produced using Land Registry data (which is Crown Copyright) licensed to TFL and no further publication or dissemination of the same by the User is permitted.

2. Forecasts are based on postcode sector-level average sale prices registered with the Land Registry.

3. Forecasts are only available to residents of the UK and by accessing this service the User confirms that he is so resident.

4. The User acknowledges and accepts that:-

4.1 The accuracy of the forecasts (as with any other forecast) cannot be guaranteed.

4.2 The forecasts are only predictative of the future value of any property in the UK.

4.3 The User should not utilise the forecasts for insurance, mortgage or any other purpose without taking appropriate professional valuation advice.

4.4 The past performance/accuracy of forecasts does not guarantee the performance/accuracy of future forecasts.

5. The User agrees that, whilst TFL will take reasonable care to ensure the accuracy of forecasts, TFL’s liability in this respect is excluded to the maximum extent permitted by law and TFL disclaims all warranties (either expressed or implied) including (but not limited to) implied warranties as to merchantability and fitness for a particular purpose with regard to the forecasts.

6. These terms and conditions shall be governed by English Law and any dispute arising under or in connection with the same shall be subject to the exclusive jurisdiction of the English Courts.

>

In other words with the market looking very toppy at the moment, why bother reading the article at all??

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In other words with the market looking very toppy at the moment, why bother reading the article at all??

I think many on here would agree with you wholeheartedly. Unfortunately,many won't and will cling to the notion that their house is worth £10m more than the £60k they paid for it a year ago.

If you move to page 12 of YOUR MONEY in the Express, you see the story of a couple in difficulties, but saved by property, and this really is sickening:

"Buying a propertywas the best money move 'x' and 'y' ever made. But enjoying lofe and making ends meet have becomeharder for the couple, both 40.

They took out a second loan on their home, and have credit cards and two bank loans.

But a few missed payments have brought further pressures from lenders. Michelle, an office worker, and Michael, a driver, from Cheshire say "Enough is enough. We have cut back on spending but this is not going to solve it.What more can we do to get free of this burden?".

The solution: "The root cause of Michelle and Michael's problem lies in the high interest rates they pay," says independent adviser 'z'. But good news for them. "Their house has risen in value and that is likely to continue". The couple can clear their debts by realising the increased value of their £95,000 home and and shop around for the best remortgage deal.

"We got a 95% mortgage".

I really do despair. Surely it can only be a matter of time before the country takes the biggest caning ever seen?

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I really do despair. Surely it can only be a matter of time before the country takes the biggest caning ever seen?

Have been waiting for years, starting to think it is never going to come and house prices will containue to rise forever.

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If you move to page 12 of YOUR MONEY in the Express, you see the story of a couple in difficulties, but saved by property, and this really is sickening:

"The solution: "The root cause of Michelle and Michael's problem lies in the high interest rates they pay," says independent adviser 'z'. But good news for them. "Their house has risen in value and that is likely to continue". The couple can clear their debts by realising the increased value of their £95,000 home and and shop around for the best remortgage deal.

"We got a 95% mortgage".

A 95% mortgage, interest only or for 25 years? Either way, they are still in a lot of debt for a long time. I wonder if they will continue to run up the credit cards expecting to pull the same trick again?

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These people have proved themselves to be irresponsible financially. They got an easy out by remortgaging.

Without a doubt they will do it again, and keep charging those cards up - imagine their faces when they find out that their house is worth less than their current mortgage.

Oh dear :lol:

My heart bleeds for them.... NOT!

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Oh. God. what can you say. With any good luck they will end up on the bankrupcy pile and add a bit of weight to the crash. Unfortunately and with the greatest compassion possible, thats all they are really good for. :blink:

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FFWD 10 years and there will be inquiries into how mortgaes were missold, and not just IO mortgages.

I don't think they have been though, have they? Everyone's taking a big gamble - those of us that have never bought, FTBs, STRs, MEW-ers (I don't mean my cat - she prefers poker). In what way have mortgages been missold? I'm not defending the whole VI bunch - but if people reason that borrowing 6x salary is OK and it turns out not to be, it's their look out imo.

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As Brits, we like to think we're the best at everything even if we concede that England lose the world cup all the time. This self-delusion extends to our jewel in the crown: financial services / city boys shit.

You know? WE like to think we're better than those dodgy south american countries that grow drugs or those south african countries "run" by bandits, but really, in our own little way, when we truly put our minds to it, we're as dodgy as ****** if we wanna be.

:lol::rolleyes::P

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Yes I agree. I get the same kind of statements from my employers managers who I've been working with lately. They think the UK are sooo much better than the rest of them, when the truth is we are not. They think our UK operation will do it better than the europeans from which we are stealing the business. We won't even come close to the quality! Reality will bite eventually.

I like the bit about they are paying too high interest rates. I wonder what they would call low then. Bloody idiot estate agents.

There are a lot of people taking interest only mortgages without any endowment. They really are storing up problems for later.

Then again maybe the solution is taking out 40 year mortgages

Edited by Spoony

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Yes I agree. I get the same kind of statements from my employers managers who I've been working with lately. They think the UK are sooo much better than the rest of them, when the truth is we are not. They think our UK operation will do it better than the europeans from which we are stealing the business. We won't even come close to the quality! Reality will bite eventually.

I like the bit about they are paying too high interest rates. I wonder what they would call low then. Bloody idiot estate agents.

There are a lot of people taking interest only mortgages without any endowment. They really are storing up problems for later.

Then again maybe the solution is taking out 40 year mortgages

IO mortgages don't store up problems, because the financial adviser can't be sued if you don't have the funds to cover the final payment. :P

Estate Agents are programmed to do a job. Which they are doing.

I'd prefer 65,536 year mortgages you can pass down 8,192 generations. Then you can borrow GBP 4,294,967,296 for a 7"x7" luxury penthouse with an oblique view of the Thames adjacent to the local eco-centre.

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  • 302 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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