Why FTB should Resisit buying now and Save instead! explained

StevieJ

pandamonia wrote: »

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 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.

What about a fixed rate?

pandamonia

what i love is that its the home owners who hate this thread and the FTB's who actualy like it. haha.

i bet your dwindling asset you thought would only go up and up is making you grouchy haha.

StevieJ

pandamonia wrote: »

what i love is that its the home owners who hate this thread and the FTB's who actualy like it. haha.

i bet your dwindling asset you thought would only go up and up is making you grouchy haha.

Don't hate it, I think it is a scream :T

housesitter

pandamonia wrote: »

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

We are talking about a 5 or 10 year fixed mortgage to get us out of the current situation.
Very few people would find a 30year (BTW that one is flexibile, the term is pretty much however long you wish, up to 30years).

My highstreet bank is offering me 4.69% on a 5 year fixed and I'm under no illusion that that is the best deal out there. The deals are falling as you point out with:

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

NEWS FLASH:
People with a crappy fixed rate should swap to a better one.
Who knew? :rolleyes: :rotfl:




As for butting out of your thread.
Most FTB's? Where is your evidence for what most FTB's do or do not have.
Those responding in thread have large deposits, so TBH pal, are representative of FTB's in a position to buy.

Your figures are wrong. Are conjured up from thin air and your advice is ill concieved and likely to get people who listen to you into financial dire straits.

You should come with a warning label.


You refuse to believe because it's simply not your situation.
News for you, I rent unfurnished properties and have all my own kit in them. I guess you weren't aware of unfurnished rents??

You are closed to the view that other people have arrangements other than yourself. It's a highly bigoted view to take.
Complaining no one has facts when they are quite clearly presented to you is just denial for you to avoid being clearly wrong. Your assertation that FTB's are loving this thread is wrong too. They are also disagreeing with you.

I actually pity you for having come far enough in life and age (indicated by your nest egg and attitude) to have such narrow minded judgement or tolerance for the opinions of others.
I don't actually think anyone has supported you on this thread. Perhaps they did, but it must have gotten lost in all the other posts laughing at you.

chucky

pandamonia wrote: »

what i love is that its the home owners who hate this thread and the FTB's who actualy like it. haha.

i bet your dwindling asset you thought would only go up and up is making you grouchy haha.

i'm still waiting for the answers to my questions - or do you avoid anything that you're wrong on

confused31_2

hes gone again whether your a first time buyer or not if you have got 25% or 40% you can secure the best deals, even the tracker you go on about if the interest rates go up to 4.5 you will be paying over 6%.

I dont know how you can argue this argument, when its obvious to most people you havent got a clue.

i personally wouldnt go on a 2 year fixed at the moment i would try and go on a tracker where you can switch to a fixed deal at anytime or i would go on a 5 or 10 year fixed deal for the security.

A 2 year deal is too short and i dont think you would get the benefit of going on a 2 year fixed also i think you are taking a risk if the rates go up in 18 months.

Im looking at going on the tracker with nationwide, i would save money going on the 2 year fixed, but i woudnt to be able to jump on a long fixed as soon as i see the rates going up, or i have see a deal thats attractive to me, if i was stuck in a 2 year deal.

pandamonia

housesitter wrote: »

We are talking about a 5 or 10 year fixed mortgage to get us out of the current situation.
Very few people would find a 30year (BTW that one is flexibile, the term is pretty much however long you wish, up to 30years).

My highstreet bank is offering me 4.69% on a 5 year fixed and I'm under no illusion that that is the best deal out there. The deals are falling as you point out with:



NEWS FLASH:
People with a crappy fixed rate should swap to a better one.
Who knew? :rolleyes: :rotfl:




As for butting out of your thread.
Most FTB's? Where is your evidence for what most FTB's do or do not have.
Those responding in thread have large deposits, so TBH pal, are representative of FTB's in a position to buy.

Your figures are wrong. Are conjured up from thin air and your advice is ill concieved and likely to get people who listen to you into financial dire straits.

You should come with a warning label.


You refuse to believe because it's simply not your situation.
News for you, I rent unfurnished properties and have all my own kit in them. I guess you weren't aware of unfurnished rents??

You are closed to the view that other people have arrangements other than yourself. It's a highly bigoted view to take.
Complaining no one has facts when they are quite clearly presented to you is just denial for you to avoid being clearly wrong. Your assertation that FTB's are loving this thread is wrong too. They are also disagreeing with you.

I actually pity you for having come far enough in life and age (indicated by your nest egg and attitude) to have such narrow minded judgement or tolerance for the opinions of others.
I don't actually think anyone has supported you on this thread. Perhaps they did, but it must have gotten lost in all the other posts laughing at you.

lol you idiot.

what makes me laugh most is when you say im wrong but dont explain why? then go on a personal attack because you have no idea what you are talking about.

i did not go on to talk about people with 40% deposits did i? i was talking about people with 10% and explain why 20% is better.

how can anyone get into a mess with my advice of waiting to buy? LOL you are pretty thick to say the least.

in fact my advice is to wait and not buy during a housing crash therefor they dont risk negative equity.

also if you want to post back to me please explain where i am wrong in my advice to people with 10% deposit. my data isnt flawed since i worked out the numbers and since you havent disproved any of this then you must not be able to.

so as i said. please shut up unless you can post facts.

regarding fixed rates there arent any decent ones for 5 years with 10% deposit you still need 20% so my advice still rings true.

Really2

pandamonia wrote: »

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

You do.

People don't like being saved.
That is what the goverement try to do and it just annoys people.

If you want save people by making out they are stupid and could not have possibly saved as much as you fair enough.

StevieJ

confused31 wrote: »

hes gone again whether your a first time buyer or not if you have got 25% or 40% you can secure the best deals, even the tracker you go on about if the interest rates go up to 4.5 you will be paying over 6%.

I dont know how you can argue this argument, when its obvious to most people you havent got a clue.

i personally wouldnt go on a 2 year fixed at the moment i would try and go on a tracker where you can switch to a fixed deal at anytime or i would go on a 5 or 10 year fixed deal for the security.

A 2 year deal is too short and i dont think you would get the benefit of going on a 2 year fixed also i think you are taking a risk if the rates go up in 18 months.

Im looking at going on the tracker with nationwide, i would save money going on the 2 year fixed, but i woudnt to be able to jump on a long fixed as soon as i see the rates going up, or i have see a deal thats attractive to me, if i was stuck in a 2 year deal.

Makes sense, but you need to keep your eye on the ball (no penalties for changing mortgages) for when they start withdrawing the best long term fixed deals.

housesitter

<sigh>
It's like teaching the blind to see.