Why FTB should Resisit buying now and Save instead! explained

pandamonia

The best fixed rate i can find is 30 years at 5.89% from manchester building society.

also you should read this http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=471317&in_page_id=58

StevieJ

pandamonia wrote: »

The best fixed rate i can find is 30 years at 5.89% from manchester building society.

also you should read this http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=471317&in_page_id=58

Don't want to read the Daily Wail for facts :eek:

carlyjc1

Hello, I am looking for advice. I have £15,000 saved up for a deposit. There are a few houses in Gillingham for about £80,000 so I have a 18.75% deposit plus some extra cash for fees etc. The houses we are looking at are very run down and as my partner does most aspects of the building trade anyway we are looking to live in the run down house (made liveable) increase it's value and move in two years to the area down the road which is nicer with better schools for my little girl who will be of school age in about 2 1/2 years.
What I'm really wondering is,is it wise to do this now,the properties are already at a much lower price then those of good condition in the same area so would they come down in price much further anyway?? Confusing time, all advice welcome

Carly

StevieJ

pandamonia wrote: »

What makes me laugh most is the people who think that fixing for 5 years now will save them money. banks dont want you to fix becuase so you can save money banks want you to fix so they can MAKE money, not so long ago you could get 0.5 below base tracker, explain to me how that can be worse than fixed rate? highest you would of ever paid in this last bubble was 5% which is damn lower than most fixed.

fixed is for people who cant manager their money.

Banks make money they are paying me 6.5% tax free in my ISA (BTW fixed) and charging 2.45% on my mortgage.

pandamonia

It seems to me that most of the people who disagree with me have no facts to prop up thier argument, they use LTV's that are not possible for most FTB's and have no bearing on anything i have said. you refuse to accept that falling asset prices are happening you also refuse to understand the possition of a FTB, if you read my original post you will see how i explained the benefit to people with 10% deposit which in actual fact is most likely the majority of first time buyers looking to buy this year. i refuse to believe people have 20% plus the cost of fees and plus the costs involved with buying all the things you need for a first home.

please dont reply to this thread unless you have something factual to say.

this does not include anything regarding high interest rates since i have been talking about the first 2 years of buying, you dont understand most of the things you are talking about arent available to FTB's

Really2

pandamonia wrote: »

please dont reply to this thread unless you have something factual to say.

You are a @rse

pandamonia

carlyjc1 wrote: »

Hello, I am looking for advice. I have £15,000 saved up for a deposit. There are a few houses in Gillingham for about £80,000 so I have a 18.75% deposit plus some extra cash for fees etc. The houses we are looking at are very run down and as my partner does most aspects of the building trade anyway we are looking to live in the run down house (made liveable) increase it's value and move in two years to the area down the road which is nicer with better schools for my little girl who will be of school age in about 2 1/2 years.
What I'm really wondering is,is it wise to do this now,the properties are already at a much lower price then those of good condition in the same area so would they come down in price much further anyway?? Confusing time, all advice welcome

Carly

i would try and get to 20% deposit since the mortgages are much much better at that LTV, since the house is pretty run down you have to work out how much it will cost to do up and also the real value of the homes today. use https://www.houseprices.co.uk and see if you can find some example 2004/2005 prices since thats where we are at at the moment. you wont be making money on the value increase in 2 years but you might be able to make money by restoring it.

pandamonia

Really2 wrote: »

You are a @rse

yes and since you dont have anything intelligent to say you resort to being offensive.

who looks like an a.r.s.e now?

StevieJ

Really2 wrote: »

You are a @rse

Fact :beer: He is not getting much support from the HPC crowd, I can't say I blame them:D

chucky

pandamonia wrote: »

please dont reply to this thread unless you have something factual to say.

I did and still waiting for your reply :T

chucky wrote: »

they will probably hit near zero before they go up just like in the USA, they are planned to fall to 1% next time the BOE meets up. i would estimate 2 year before they go above 3% at the very earliest.quote]

doesn't matter what they drop them to - don't think you'll be getting a mortage anywhere near those rates.



well done - but my dad is better than your dad



LR numbers have a lag of at least 2 months.

the two area that apply to me i have a +0.6% increase and -1.7% drop in price.

will you be buying your house on an average or pricing for your local area?

do housepricecrash.com pay you for advertising on here?