Anyone Nervous?

mewbie_2

cocktail wrote: »

sentiment is everything in the market.

And finding / keeping a deposit, a buyer, a seller, a chain, a mortgage, a job.

ShelleyC_2

Dan: wrote: »

This seems the last hope for 'bears'. Interest rate increases = deafults = forced sales = cheaper houses.

Can't see it happening myself. A lot of people are taking advanage of the current base rate to pay off existing debt, so are likley to better off when rates go up.

I think that an MSE perception - people on here who are generally a bit more savvy might be overpaying but the wider masses aren't.

I've suggested it to various friends and family who I think are fairly smart and they all look at me like I've lost my final few marbles :rotfl:

Dan:_4

ShelleyC wrote: »

I think that an MSE perception - people on here who are generally a bit more savvy might be overpaying but the wider masses aren't.

I've suggested it to various friends and family who I think are fairly smart and they all look at me like I've lost my final few marbles :rotfl:

Oh well SPEND! SPEND! SPEND! It helps keep people in jobs!

Snooze

Dan: wrote: »

What do you consider a decent rate Rob? Halifax have a 90% product @ 5.94% for FTBers right now. Thats sounds pretty good to me.

~ 4% for 95% LTV. A friend of mine bought in early 2005 for just over 4% at 95% LTV in fact.

I think when we see a lot of lenders having products on offer similar to those figures that will be around the bottom of the market.

The fact that lenders are still wanting comparatively large deposits says to me that they expect further drops. If they didn't expect further drops then why wouldn't they be offering 95 or 100% LTVs ? After all, the more they lend, the more profit in it for them. Do you disagree?

Rob

Dan:_4

Snooze wrote: »

~ 4% for 95% LTV. A friend of mine bought in early 2005 for just over 4% at 95% LTV in fact.

I think when we see a lot of lenders having products on offer similar to those figures that will be around the bottom of the market.

The fact that lenders are still wanting comparatively large deposits says to me that they expect further drops. If they didn't expect further drops then why wouldn't they be offering 95 or 100% LTVs ? After all, the more they lend, the more profit in it for them. Do you disagree?

Rob

It's not because they are expecting further drops, its because of that old thing called the credit crunch - the reduction in the general availability of loans.

If they could, they would be offering 95% and 100% products - and one day they will again.

the_ash_and_the_oak

tbh I hope we don't go down the 100% route again

Dan:_4

the_ash_and_the_oak wrote: »

tbh I hope we don't go down the 100% route again

Agreed. But we will when all this is long forgotten.

the_ash_and_the_oak

Yes I wouldn't think it would be any time soon!

mewbie_2

the_ash_and_the_oak wrote: »

Yes I wouldn't think it would be any time soon!

A nursing home somewhere, year 2030. Dan shuffles over to where Mewbie is being medicated by two carers.
Dan in quavery voice: "I tell you Mewbie, those mortgages are coming back to 100% very soon"
Mewbie "blow it out your !!! Dan, and watch those fingers nurse"

pickles110564

mewbie wrote: »

A nursing home somewhere, year 2030. Dan shuffles over to where Mewbie is being medicated by two carers.
Dan in quavery voice: "I tell you Mewbie, those mortgages are coming back to 100% very soon"
Mewbie "blow it out your !!! Dan, and watch those fingers nurse"

Glad to see you were not PPR'ed.
By the way more good news coming out of Felixstowe.