Surveyors & Lendors Deliberately Under Valuing Property

pete80

ukcarper wrote: »

I think your right but shouldn’t they be honest and just insist on a larger deposit

ukcarper,

That would be the best way to go about it, but after this last couple of years would you say banks were trustworthy? :rotfl:

pete80

HAMISH_MCTAVISH wrote: »

Nice explanation.

Unfortunately it in no way addresses the example given in the original article, which was about a valuation for remortgage, not sale.

Take off the Blinkers Hamish!!

It does address it because with a remortgage, the bank is still risking their money by lending against a house when the crash is not 100% over.

You may be very happy with a few monthly rises, but that does not mean with another million unemployed by end of 2010, that house prices will still be rising.

By the way no Vested Interest for me on this subject, I sold up and left early 2008. Oh sorry I lied there, I have been shorting a property ETF in the US since mid-2006.:rolleyes:

pete80

HAMISH_MCTAVISH wrote: »

:rotfl:

No it's not.

It's just moving people into higher rate and margin mortgage products by pressuring surveyors to put in lower valuations, thus ensuring people don't meet the LTV criteria for the better rate deals.

It's fraudulent, exploitative behaviour.

Blimey! This could affect you when you come to remortgage Hamish.

Oh Deary me.......

pete80

Dan: wrote: »

I don't know. My solicitor sent them about 3 months after the purchase.

Dan,

Wouldn't that be the TR1 (Transfer of Title ) document? This should have both your name as owner and also details of the mortgage lender.

chucky

pete80 wrote: »

You may be very happy with a few monthly rises, but that does not mean with another million unemployed by end of 2010, that house prices will still be rising.

if unemployment goes up by 1% do house prices drop 1%?

for you to have made this kind of statement there must be a complex algorithm that this will happen or is it just your opinion?

StevieJ

ManAtHome wrote: »

I didn't get the deeds to mine until I'd paid off the mortgage - have times changed?

They sent me the whole file a couple of years ago, I think something changed recently regarding the Land Registry.

pete80

chucky wrote: »

if unemployment goes up by 1% do house prices drop 1%?

for you to have made this kind of statement there must be a complex algorithm that this will happen or is it just your opinion?

Where did I mention percentages?

In case you haven't quite woke up yet I said if unemployment figures rise by another million, it doesn't mean house prices will still rise.

DYOR and see that house prices do no rise or indeed fall in a straight line.
Rises in 3 out of 4 months in a market of around 50% of normal volume does not mean a recovery in other words.

When the unemployment figures do hit the estimated 3.5 million or more as some analysts forecast then we can see whether house prices rise, hold their own or fall. I am out of the UK Housing market now, having moved but still would place money on the Halifax House Price Index or the Land Registry House Price Index being lower this time next year.

Forgive me if our views differ, but aren't forums a place where you can voice your own opinion?

chucky

pete80 wrote: »

Where did I mention percentages?

you didn't i did

pete80 wrote: »

In case you haven't quite woke up yet I said if unemployment figures rise by another million, it doesn't mean house prices will still rise.

i'm awake old chap... i'm awake... i'm questioning the fact that you said only fall; they could stay flat or end up flat YOY...

pete80 wrote: »

When the unemployment figures do hit the estimated 3.5 million or more as some analysts forecast then we can see whether house prices rise, hold their own or fall. I am out of the UK Housing market now, having moved but still would place money on the Halifax House Price Index or the Land Registry House Price Index being lower this time next year.

i thought is was when they started to creep over 10% when it would have an impact on house prices

pete80 wrote: »

DYOR and see that house prices do no rise or indeed fall in a straight line. Rises in 3 out of 4 months in a market of around 50% of normal volume does not mean a recovery in other words.

don't forget that these past increases will be pulled back over the next 9 months and we may end up level - just my opinion of course...

pete80 wrote: »

Forgive me if our views differ, but aren't forums a place where you can voice your own opinion?

i preferred your last post it explained your view better.
the other came across as unemployment exclusively affects home owners and in turn dropping house prices which obviously isn't the case.

mewbie_2

chucky wrote: »

usual stuff....

Hey Chucky. What happened last night? Pickles logged you off and started posting under his ID for a change? Was it because you made a fool of yourself over the 12% interest rates in two years claim?

chucky

mewbie wrote: »

i'm trying ot be funny to get friends on the internet that i don't have in real life

oh dear - you are really are a reprobate aren't you...