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squire

Ni House Prices "screeching To A Halt"

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http://news.bbc.co.uk/1/hi/northern_ireland/6720115.stm

That is a description of the east Belfast housing market from two estate agents.
And it's a view that's shared by agents and financial advisers in other areas of Northern Ireland.

You can view the Video in the Video and Audio News Section here: http://news.bbc.co.uk/1/hi/northern_ireland/default.stm

Not sure if this has been posted yet. If it has, my apologies.

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Anecdotal evidence would suggest that things are slowing outside Belfast as well, we can't be far from the tipping point now.

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Anecdotal evidence would suggest that things are slowing outside Belfast as well, we can't be far from the tipping point now.

Just checked available mortgages for FTBers.

You now need a £110+ pa joint income (not including bonuses) to get a £320k mortgage on a £350k property (assuming a £30k deposit) as a FTBer. This equates to over £2k a month on the mortgage alone and it's only available on a variable rate (no fixed rates were available when I checked on charcol.co.uk).

Sorry, I didn't check if it was repayment or i-only...

:o

edited to add that you don't get much for £350k in OK areas of London (never mind the good areas)...

Edited by SHERWICK

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http://news.bbc.co.uk/1/hi/northern_ireland/6720115.stm
That is a description of the east Belfast housing market from two estate agents.
And it's a view that's shared by agents and financial advisers in other areas of Northern Ireland.

You can view the Video in the Video and Audio News Section here: http://news.bbc.co.uk/1/hi/northern_ireland/default.stm

Not sure if this has been posted yet. If it has, my apologies.

This is the first time I have seen a mainstream article where the effect of small interest rate rises is discussed.

"A homeowner with a £180,000 mortgage, at a fixed rate of 4.25%, would be paying around £975 a month. For a new deal, at a rate of 6%, the repayments would rise by about £185 - 19% - to a much less manageable £1,160 a month."

As rates rise by 1.75%, payments have increased by 19%.

People just dont understand the seriousness and impact that even small rate rises can have.

Edited by needle

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