Why FTB should Resisit buying now and Save instead! explained

confused31_2

I think whats happened is Pandomoniam thinks he has missed the boat maybe late last year someone told him next year will be the time to buy a house if your a first time buyer.

Its like what people were saying last year, when these people come off their 100% mortgages and have to go on the svr, there will be loads of bargains, there have been a few, but the mortgage rates falling as also helped a lot of people.

He thought great but when he went to buy, he realised he couldnt get any good mortgage deals as he never had a good deposit.:mad:

Now at the begining of 2009 a few FTB's start buying and showing a interest in the market, however these FTB's have good deposits and can secure good mortgage deals, this along with houses dropping FTB's begin to buy, im not saying theres loads but it is definately picking up.

Now i think Panomonia his trying to convince people to stop buying untill he has enough of a deposit to get a good mortgage deal too, which is laughable.:rotfl:

Really2

stevetodd wrote: »

I think the op makes a lot of sense and following his lead I would advise people not to take a bath in boiling water as it will scold you

Also hangliding on to pylons carrys a risk of electrocution.

pandamonia

confused31 wrote: »

I think whats happened is Pandomoniam thinks he has missed the boat maybe late last year someone told him next year will be the time to buy a house if your a first time buyer.

Its like what people were saying last year, when these people come off their 100% mortgages and have to go on the svr, there will be loads of bargains, there have been a few, but the mortgage rates falling as also helped a lot of people.

He thought great but when he went to buy, he realised he couldnt get any good mortgage deals as he never had a good deposit.:mad:

Now at the begining of 2009 a few FTB's start buying and showing a interest in the market, however these FTB's have good deposits and can secure good mortgage deals, this along with houses dropping FTB's begin to buy, im not saying theres loads but it is definately picking up.

Now i think Panomonia his trying to convince people to stop buying untill he has enough of a deposit to get a good mortgage deal too, which is laughable.:rotfl:

yet another idiot which hasnt addressed my original post.

im in no rush ill just pick a home up from someone who is in desperate need to sell. since my job is pretty secure and i earn alot im in prime possition to take advantage. i was looking to buy this year and decided against it. so i shared with everyone why its best not to buy.

fact is your homes losing value and mine wont since i havent bought yet.

Really2

pandamonia wrote: »

yet another idiot which hasnt addressed my original post.

im in no rush ill just pick a home up from someone who is in desperate need to sell. since my job is pretty secure and i earn alot im in prime possition to take advantage. i was looking to buy this year and decided against it. so i shared with everyone why its best not to buy.

fact is your homes losing value and mine wont since i havent bought yet.

What do you do for a job you talked about being at Oxford in another of your posts.

Are you a full time dreamer or just part time?

pandamonia wrote: »

the country can easily change. one way of doing this is leading the world in developing nuclear power, hydrogen and carbon nanotubes.

3 things we currently work on in oxford and cambridge university.

those 3 techs can turn a nation around within years

pandamonia

Really2 wrote: »

What do you do for a job you talked about being at Oxford in another of your posts.

Are you a full time dreamer or just part time?

find that post.

you are dillusional

ess0two

pandamonia wrote: »

yet another idiot which hasnt addressed my original post.

im in no rush ill just pick a home up from someone who is in desperate need to sell. since my job is pretty secure and i earn alot im in prime possition to take advantage. i was looking to buy this year and decided against it. so i shared with everyone why its best not to buy.

fact is your homes losing value and mine wont since i havent bought yet.

Dont leave it too long,these ftb are bucking the trend,before you know it your deposit will be jackshi t.

ess0two

Really2 wrote: »

What do you do for a job you talked about being at Oxford in another of your posts.

Are you a full time dreamer or just part time?

oxford..............more like space cadet.

confused31_2

StevieJ wrote: »

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.

The thing is i have a fixed deal with about 20 months on it, i need to borrow a additional 55000 pound so i was going to have this on the tracker with nationwide which you can transfer anytime onto a fixed.

It will cost me more than a two year fixed as i would have to pay fees, i have also asked about finishing my other mortgage early and the fee will be 960 pound, on top of the mortgage.

so what im going to do is port my original mortgage over and have a additional 55000 pounds on the tracker, then if before my fixed deal finishes a good 5 or 10 year fixed deal comes out i will transfer both mortgages onto it and pay the fees.

Having said that i think the nationwide might drop their fixed rates soon as all the other banks have, its just all down to timing.

Just hope my plan works out.

Really2

pandamonia wrote: »

find that post.

you are dillusional

pandamonia wrote: »

3 things we currently work on in oxford and cambridge university.

those 3 techs can turn a nation around within years

We would mean you and others?

What do you do then?

pandamonia

ess0two wrote: »

Dont leave it too long,these ftb are bucking the trend,before you know it your deposit will be jackshi t.

lol yes are your opinion is right on the money as usual - not

"
But Nationwide said this was no longer an indication that the market was picking up, arguing: 'The relationship between buyer enquiries and approvals has broken down.'
In the current environment, people are curious about how far prices have fallen but are not keen to commit amid rising unemployment and uncertainty about future incomes.
Furthermore, the lack of availability of mortgages is also discouraging people from turning enquiries into sales."


taken from http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=471609&in_page_id=57&ct=5