HSBC raise fixed rates....

howler_2 · 26 September 2008 at 3:59PM

chucky wrote: »

forced sale!? how common are these and how often do they happen.
i think a bit of generalisation is going on here - fortunately this does not happen to everyone that buys a property.

Massive payments is relative to your earnings and your repayments - if you bought well and can afford the repayments, this is not an issue. Again fortunately this does not happen to everyone that buys a property but there are people as you say have not realised the big picture financial implications.

the financial implications are there for everyone and circumstances are all individual.

Re forced sales - Have you seen the latest unemploment figures and forecasts?

Re massive payments - I'd say they were massive relative to someone who waited and bought a similar property 35% - 50% cheaper (as predicted)

The financial implications are there for all but at least the banks only reposses homes that people consider an asset and wouldnt make a stable family homeless. Oh wait.....

OxfordMark_2 · 26 September 2008 at 5:07PM

dudleyboy wrote: »

Blimey, I thought for a moment there that house prices had crept back up again!

0.3%? Who cares??!!

Find me any FTBer at the moment who wants to take out a mortgage and I'll point out an idiot.

My girlfriend and I are in the late stages of buying a house. We're first time buyers. While I'm having kittens about it I don't think we're idiots. We've got a big discount on the peak price (which I reckon was £350k, paying £290k), not big enough looking at some of the projections but...it's the right time for us to move, and we've found a house we love. We'll live in it, god willing, for many years. It will be the first time either of us has owned and we're over the moon about being able to make a home that is ours. Where you live can never be a purely financial decision.