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Gazumped

24

Comments

  • RetroBob
    RetroBob Posts: 171 Forumite
    kunekune wrote: »
    (we have managed to get a mortgage at the BOE base rate)..

    Where can we find this 0.5% mortgage?
  • kunekune
    kunekune Posts: 1,909 Forumite
    It's a staff mortgage with one of the big banks (and no, I'm not going to get into a discussion about whether we could afford it if OH redundant ... etc, etc. We can.)
    Mortgage started on 22.5.09 : £129,600
    Overpayments to date: £3000
    June grocery challenge: 400/600
  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    Suzey wrote: »
    Good luck to everyone else who is househunting and those trying to sell

    If those who sell have good luck somebody will gazump their buyer at the last minute which will be bad luck for their buyer.

    It is make your mind up time.
    Who do you want to have the luck.

    Often on TV the presenter say "Good luck to everyone or good luck to both teams." What does that mean I wonder.

    Anyway good luck to you. :A :A :A :A :A
    ...............................I have put my clock back....... Kcolc ym
  • pandamonia
    pandamonia Posts: 293 Forumite
    i just love how people buying now dont understand what will happen if a law is passed limiting lending to 3.5x salary. your house price will halve over night
  • hethmar
    hethmar Posts: 10,678 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Car Insurance Carver!
    Is there a law being discussed?
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    hethmar wrote: »
    Is there a law being discussed?

    The govt owns enough banks now to set lending levels sensibly.

    However Gordon is still a believer in not letting house prices crash.
  • Robert_Sterling_3
    Robert_Sterling_3 Posts: 7,112 Forumite
    If house prices all halved most of us might go into negative equity.
    Then many of us might get evicted.
    Then there would be plenty of cheaper houses available.
    So the price could halve again.....
    ..... and again.
    ...............................I have put my clock back....... Kcolc ym
  • pinkshoes
    pinkshoes Posts: 20,593 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    pandamonia wrote: »
    i just love how people buying now dont understand what will happen if a law is passed limiting lending to 3.5x salary. your house price will halve over night

    I wasn't aware lenders would lend over 3.5x salary for at least 12 months now!!
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
  • Elspeth
    Elspeth Posts: 107 Forumite
    I too assumed that lenders were being very cautious and keeping to very low multiples, but stuck our (mine and partner's) details into Halifax's mortgage calculator and it came up with a figure that amounted to nearly 6x our joint salary! (We've not bought before as there's no way we want to borrow that much). But perhaps that's what the Halifax mortgage advisor I spoke to briefly last week meant by them 'not working in multiples'?

    https://www.halifax.co.uk/mortgages/calculator/mortcal_main.asp?brand=halifax&app=borrow
  • pinkshoes
    pinkshoes Posts: 20,593 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Elspeth wrote: »
    I too assumed that lenders were being very cautious and keeping to very low multiples, but stuck our (mine and partner's) details into Halifax's mortgage calculator and it came up with a figure that amounted to nearly 6x our joint salary! (We've not bought before as there's no way we want to borrow that much). But perhaps that's what the Halifax mortgage advisor I spoke to briefly last week meant by them 'not working in multiples'?

    https://www.halifax.co.uk/mortgages/calculator/mortcal_main.asp?brand=halifax&app=borrow

    What their mortgage calculator says and what they actually offer are rather different!! If you had a huge deposit, then perhaps they'd offer a higher multiple.
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
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