The return of Equity

Cat695

pickles110564 wrote: »

Dont bury your head to deep in the sand.

Thanks for that pickles very useful.

SingleSue

pickles110564 wrote: »

Compared to what most posters have been saying on here that is a significant rise and I have also noticed that houses are now selling again in my area with even some new builds being snapped up.:beer:

There have been some extra sales here but first glance looking shows that one property has dropped its asking price from £690k to £500k and been on the market since April last year.

Mind you, a bungalow which only came on the market last month, sold within a very short space of time...not even enough for me to add it to my saved properties!

A newbuild property on there has sold but it had dropped its asking price from £399,950 to £339,500

But yes, you are right, there does appear to have been a few more being sold than there had previously been, including ones I have had tabs on for the last year (although a fair few have had hefty reductions in asking price).

chewmylegoff

Rochdale_Pioneers wrote: »

Interested to visit my mortgage account online earlier and find that Halifax believe there to be £12k of equity in my mortgage. A few weeks ago the equity that had been in there had completely gone and we were teetering on the brink of negative equity.

It has no direct effect - I neither plan to draw on this equity nor move house or even remortgage. But I do find it curious that a housing market as dead as several of you insist it is has seen prices go up, mortgage approvals shoot through the roof and my lender start seeing cash where there was none.

so, the halifax have applied the rise from their house price index to the value of your property. good for you.

it's highly likely that the equity will be gone by the end of next month.

neil324

pickles110564 wrote: »

Dont bury your head to deep in the sand.

Ok

Even the government says unemployment will touch 3m by the year end, so its safe to say the fiqure will be beaten. Its only just begun.

Dan:_4

chewmylegoff wrote: »

so, the halifax have applied the rise from their house price index to the value of your property. good for you.

it's highly likely that the equity will be gone by the end of next month.

I don't know why they done this. Halifax saw a 1.9% drop for march.

chewmylegoff

Dan: wrote: »

I don't know why they done this. Halifax saw a 1.9% drop for march.

mmm you're right, t'was nationwide that showed an increase, my mistake. perhaps their figures are broken down by region.

leveller2911

Given that FTB,s will need to find at least 15% deposit ,it would be interesting to know what percentage of the approvals were FTB ers.

I still believe for the next 2 yrs or so house prices will fall , if you dont have the FTBers then the whole market stalls.

Lenders are requiring good sized deposits ,clean credit record(some on here have said lenders don't look at credit scores, well breaking news folks YES they do).

Unemployment is rising and will continue for the near future people are not going to rush out and buy houses

Dan:_4

chewmylegoff wrote: »

mmm you're right, t'was nationwide that showed an increase, my mistake. perhaps their figures are broken down by region.

all figures are broken down by region.

Dan:_4

leveller2911 wrote: »

Given that FTB,s will need to find at least 15% deposit ,it would be interesting to know what percentage of the approvals were FTB ers.

I still believe for the next 2 yrs or so house prices will fall , if you dont have the FTBers then the whole market stalls.

Lenders are requiring good sized deposits ,clean credit record(some on here have said lenders don't look at credit scores, well breaking news folks YES they do).

You can still get 90% mortgages.

The lender will decide on your credit score, not the credit agency.

tomterm8

Dan: wrote: »

I don't know why they done this. Halifax saw a 1.9% drop for march.

Personally, I'm wondering if the difference is in working out seasonal adjustment. I don't have a clue how halifax / natwest etc actually work out seasonal adjustments. Also, I'm wondering if nationwide has tightened its mortgage lending, if nationwide only lends to relatively richer people, then the average price it lends up might go up, even without price rises in the general market.

In any case month-on-month figures are notoriously fickle. The year-on-year for nationwide is still dreadful. Plus, didn't the same thing happen in the 1990's (i.e. natwest announce a couple of "up" months in the spring, followed by a lot more down months).