Is the first rung of the property ladder broken?

penguine

news.bbc.co.uk/1/hi/business/8002791.stm

Traditionally, falling house prices are good news for those looking to buy for the first time. After a decade of watching the UK property market become increasingly bloated, these people would have watched it deflate with some relief.

But despite homes becoming more affordable, buyers looking to get on the ladder have found the first rung to be broken.

The global financial crisis has left lenders extremely cautious about taking on new, untested creditors without these buyers offering a big deposit upfront.

This isn't really a news story, more an advice piece on how to help ensure you can get a mortgage if you only have a 10% deposit.

Topov_3

anyone with a brain will see that there is no sense in buying a house while it drops in value. only idiots like chuckey and dithering daddo are encouraging people to buy and thats because they want to ramp up prices to line there own pockets. cry me a river you bulls, your going bust while first time buyers hold out for bargains

hearts

Topov wrote: »

anyone with a brain will see that there is no sense in buying a house while it drops in value. only idiots like chuckey and dithering daddo are encouraging people to buy and thats because they want to ramp up prices to line there own pockets. cry me a river you bulls, your going bust while first time buyers hold out for bargains

"Bargains" in your post indicates that you too are hoping for HPI in the future, to gain from your purchase. The only difference between you and them is, you missed the boat first time around ;-)

JonnyBravo

Topov wrote: »

anyone with a brain will see that there is no sense in buying a house while it drops in value. only idiots like chuckey and dithering daddo are encouraging people to buy and thats because they want to ramp up prices to line there own pockets. cry me a river you bulls, your going bust while first time buyers hold out for bargains

Very convincing DD :rolleyes:

So suddenly Topov has trouble spelling? It's the equivalent of putting on one of those joke "spectacles and moustache" combinations. Such a master of disguise.

You really need to decide on the persona Topov has and then stick to it.

HTH.

purch

Is the first rung of the property ladder broken?

No, but it was set too low and easy to climb onto. Now it's been moved a little too high, but it will probably return to a sensible height in time.

Topov_3

hearts wrote: »

"Bargains" in your post indicates that you too are hoping for HPI in the future, to gain from your purchase. The only difference between you and them is, you missed the boat first time around ;-)

the boat had a big hole in it so I didnt clime aboard. now that it's sinking you bulls are all fighting to get into the lifeboats and come back ashore where we are waiting to buy your houses for half what you paid for them.

the difference between you and me is that your losing money everyday as your house loses value while I make money everyday cos my deposit is growing

Graham_Devon

Not broken, just got health and safety "danger" tape all over it.

Topov_3

jonnybravo wrote: »

very convincing dd :rolleyes:

So suddenly topov has trouble spelling? It's the equivalent of putting on one of those joke "spectacles and moustache" combinations. Such a master of disguise.

You really need to decide on the persona topov has and then stick to it.

Hth.

:d

abuse!!! Just because people have dyslexia doesnt mean you are allowed to make perosnal abuse remarks!!!

help< help im being abused!!

ad9898_3

The banks have burned heavily, almost certainly from very lax lending procedures, but on the other hand if any of us had 100k to lend out, would you lend it to some untrusted, untested buyer, in a falling market at 4-5% interest, if they only gave you 10k as a deposit ??, I wouldn't and I guess most of the banks feel similar.

I'm a FTB'r and welcome the 25% deposit required for a decent deal, people need to realise that if you want something badly enough you have to save towards it, it's this 'have it now, pay later' mentality that is partly to blame for the position we are in.

chucky

Topov wrote: »

anyone with a brain will see that there is no sense in buying a house while it drops in value. only idiots like chuckey and dithering daddo are encouraging people to buy and thats because they want to ramp up prices to line there own pockets. cry me a river you bulls, your going bust while first time buyers hold out for bargains

shall i bite?? of course i won't...
keep em coming Topov

until the mortgage market is up and running the typical FTB (unless they have a massive deposit) will struggle to get finance.

as for buying or encouraging buying now Topov it's as good as it was 6 months ago and will be in 6 months time. it makes no difference when you buy as long you get the house at a good price and a good mortgage rate and obviously keep your job.

Topov_3

chucky wrote: »

shall i bite?? of course i won't...
keep em coming Topov

until the mortgage market is up and running the typical FTB (unless they have a massive deposit) will struggle to get finance.

as for buying or encouraging buying now Topov it's as good as it was 6 months ago and will be in 6 months time. it makes no difference when you buy as long you get the house at a good price and a good mortgage rate and obviously keep your job.

poor old chuckey is lashing out at all and sundry like the demented man he is. He's totally lost his marbles. It's quite sad really.
If not totally mental, chuckey is certainly a very angry man.

And you'd be angry too if you had no job, no girlfriend and if your buy to let portfolio's value was going down the swanee at a frightening rate of knots