Got 30 grand, but only to buy with!

The_Bride_3

follyfoot wrote:

what is HPC?

HPC is House Price Crash - as linked in one of the above messages:
http://www.housepricecrash.co.uk
and its dedicated to - well ... discussing the possibility of a crash in house prices.
I am a lurker there myself but find it v. interesting reading - though it borders a tad on the bearish!
Bride
:xmassign:

jockettuk

why not go see a financial advisor and get some advice on what you can get for your money.. they can also check out how much morgage you will get if you have a good credit history you might get more than you think.. cost nothing to ask the experts..

MyUserNamesTaken

black-saturn wrote:

Move to this area and you will get a decent sized house with 2 - 3 bedrooms for about £50k.

BS, they've gone up a bit! You'd get a decent sized house here for around the £75-80k mark, not less. There's a repossessed 2 bedroom house on Tonning Street (it's 7 ft wide!) which will probably go for around £55K. It has no heating and the bathroom's been ripped out. Take a walk down Tonning Street, BS. You can't miss it, as it really is that narrrow! Even flats here are selling for £60K + now.


Black Saturn and I both live in Lowestoft. My house (4 bed end terrace with o/r parking) is valued at £120K.

micheleen

I moved to Barrow-in-Furness earlier this year, 2 bed terrace CH,DG and a garage as well £76K. Under 60K is certainly available round here.

inmypocketnottheirs

How about buying with a friend or relation. Rather than put the 30K in as cash would you father opt for a joint mortgage with you and subsidise you that way. How about taking in a lodger, you can rent a room out and not be liable for tax. There is a maximum figure, not sure how much, but I think it is about £4000 a year. That would contribute towards your payments.

I would really try and find a way to work round this. Prices *may* re-adjust in the short term, say 3-5 years max, but in the longer term 5-10-20 years time, there will only be one direction that they will have moved.

As mentioned by another poster - get some specialist advice, and see what you can do.

follyfoot

The_Bride wrote:

HPC is House Price Crash - as linked in one of the above messages:
http://www.housepricecrash.co.uk
and its dedicated to - well ... discussing the possibility of a crash in house prices.
I am a lurker there myself but find it v. interesting reading - though it borders a tad on the bearish!
Bride
:xmassign:

These "experts" always say there is going to be a house price crash. In late 80's when there was a crash it coincided with many people being made redundant. At the moment what fuels the market is BTL investors instead of FTB. There will come a time when market is flooded with BTL properties for sale - particularly as a lot of these investors reach retirement age and want to cash in. I think if there were a crash it would come with a change in government which will not be 2006

cray

Yeh i would have brough a house with my ex, making it nice and comfy. but shes my ex now so thats not a option. Economically i need a woman to help out with the bills, although i might hold of until the bird flu epidemic calms down because the will be quite a few dead people so houses will get cheaper. But then again my 30G's might be worth nothing.

Better tell daddy to put it into gold of something.

Thanks for all the advice BTW people, its been a great help!!