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Debate House Prices
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house buying
Radsteral
Posts: 836 Forumite
been a silent reader for quite a while ..
Wondered if anyone could advice on my situation
south east london 3 bed semi with garage was 270k since october i was offering 230 k and no more but only recently with a pushy estate agent i agreed to 238.000
the house owner is divorcing though since october he has barely shown any sign of selling for less
Have 45 k deposit and thought i was in good position but its becoming imposible to get a mortgage i see
I own a small company 2007 accounts=65 k and 2008 account 92 k gross
with accounts to be done for 2009 in august and predicted 130.000 - already so far 75.000.
had no idea my accountant had put me to 5300 wages a year plus dividents
so my wages are 21 thousands.
have lost counts of mortgage advisers being so hopefull and then telling me ''the only way is 59 k deposit(25%) and again self cert at 7.8 or 8 .1 per cent rate.
in to desperation have gone to friends to buy it together but they reluctant and i understand,
Today a very wise friend , made me think again to buy property now..
he saying 'people who bought top end of market in august 2007 will need to remorgage in august 2009 and their property is worth less than when they bought it so the banks will likely to ask them to put a deposit in order to get a mortgage '' and that may be best time to buy
any comments on my situation?
currently we renting a small flat 750 all in so i just thought i colud go to a saving rampgne till june or july and then try and tackle it
thanks rad
Wondered if anyone could advice on my situation
south east london 3 bed semi with garage was 270k since october i was offering 230 k and no more but only recently with a pushy estate agent i agreed to 238.000
the house owner is divorcing though since october he has barely shown any sign of selling for less
Have 45 k deposit and thought i was in good position but its becoming imposible to get a mortgage i see
I own a small company 2007 accounts=65 k and 2008 account 92 k gross
with accounts to be done for 2009 in august and predicted 130.000 - already so far 75.000.
had no idea my accountant had put me to 5300 wages a year plus dividents
so my wages are 21 thousands.
have lost counts of mortgage advisers being so hopefull and then telling me ''the only way is 59 k deposit(25%) and again self cert at 7.8 or 8 .1 per cent rate.
in to desperation have gone to friends to buy it together but they reluctant and i understand,
Today a very wise friend , made me think again to buy property now..
he saying 'people who bought top end of market in august 2007 will need to remorgage in august 2009 and their property is worth less than when they bought it so the banks will likely to ask them to put a deposit in order to get a mortgage '' and that may be best time to buy
any comments on my situation?
currently we renting a small flat 750 all in so i just thought i colud go to a saving rampgne till june or july and then try and tackle it
thanks rad
0
Comments
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PPl coming off fixed rates etc in august 2009 will probably be happy to stay on the svr for a while if it stays as it is and may be in no rush to get a new mortgage deal!0
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Rad, I think you would stand a better chance of receiving good advice on your situation by posting in the house buying forum. This forum (of late) is more about arguments, name calling and general whinging about multiple identities.:rolleyes:
There are peeps on here that could advise but you stand a better chance in the other forum HTH0 -
right .. my ''wise mate'' didnt think of that
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Rad, I think you would stand a better chance of receiving good advice on your situation by posting in the house buying forum. This forum (of late) is more about arguments, name calling and general whinging about multiple identities.:rolleyes:
There are peeps on here that could advise but you stand a better chance in the other forum HTH
That's rubbish you idiot!!!!!! I'm you must be !!!!!! sorry I meant Wookster :rotfl:0
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