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Debate House Prices


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Average % drop by region??

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Comments

  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    ad9898 wrote: »
    I agree about the fixing if I was buying, but the rates are crap, over 6% for a 10 year fix. I don't fancy putting my 40% deposit down to watch it being whittled away over the next few years while the banks are coining it in at over 5x the base rate.

    Just a few months ago a 6% 10 year fixed rate would have been viewed as an excellent rate.
    Some people on here warn of 8%, 12% or even 15% interest.
    Hell, even people were quoting Iceland at 18%.
    all of these rates make 6% look extremely good.

    Ok, so rates are extremely and historically low at the moment, but people don't really expect them to remain there too long in the future. Maybe this year or going in to 2010, but most expect them to rise and fixing can afford a huge level of long term security
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    StevieJ wrote: »
    I thought you could get under 5% with a 40% deposit?

    http://www.britannia.co.uk/home/mortgage/fixed/10_year/index.html

    Excellent Point.

    I've seen loads of mortgages 10 year fixed, even some under 4% with a 40% deposit.
    Your not going to get cheaper. It would be good to fix before they rise again.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    IveSeenTheLight wrote: »
    Excellent Point.

    I've seen loads of mortgages 10 year fixed, even some under 4% with a 40% deposit.
    Your not going to get cheaper. It would be good to fix before they rise again.

    Yes, the people who time this right are the ones who will be set up for the future :beer: I can see it now, people on this board will be saying 'it was OK in your day'
    'interest rates of 4% fixed and house prices rock bottom' :D
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    IveSeenTheLight wrote: »
    Excellent Point.

    I've seen loads of mortgages 10 year fixed, even some under 4% with a 40% deposit.
    Your not going to get cheaper. It would be good to fix before they rise again.

    Those are good deals, forget trackers and SVR's anyone with 40% equity should be snapping those deals up. Yet I bet most are seeing the BoE base rate and thinking 'I need a 2 year tracker, quick'. The boat as well and truely been missed on trackers now, and should be avoided.
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    StevieJ wrote: »
    Yes, the people who time this right are the ones who will be set up for the future :beer: I can see it now, people on this board will be saying 'it was OK in your day'
    'interest rates of 4% fixed and house prices rock bottom' :D

    I agree, although not with the 'rock bottom house prices' bit.:D
  • carolt
    carolt Posts: 8,531 Forumite
    OP - remember the rightmove figures are asking prices, not achieved prices - the small drop in asking prices is not reflected in the much larger drop in achieved prices in London, for example.
  • confused31_2
    confused31_2 Posts: 1,272 Forumite
    I think there will be even better long term fixed deals next month, i would defantely look at fixing if i get chance to buy soon
    I am not a Mortgage Adviser
    You should note that this site doesn't check my status as not being a Mortgage Adviser, so you need to take my word for it. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    confused31 wrote: »
    I think there will be even better long term fixed deals next month, i would defantely look at fixing if i get chance to buy soon

    definietly so - most lenders have pulled their current products as they were pre-last weeks rate cut.

    this month/next months products will be much better.
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