Deja Vu?

the_ash_and_the_oak

chucky wrote: »

that is a good point - if you can down to the 60% LTV it is worth saving to get to the better rates.

if you can't get below the 75% LTV in a short period of time you may as well bite the bullet before you miss out comepletey imo.

miss out completely on what tho?

I can prob live w missing out on 1bed flat imo

neas

yep with a 150k house say anda 50-60k deposit i think im just in the 60% LTV range... which reduces most rates by 0.25% ish. Still better than nothing i guess. Problem is am looking at 160-170k houses so LTV is around 70%.. but they are far better than the ones for 10k-20k cheaper you know?

Its an interesting situation for me and wife, its a risky one and we saved for a while ...not even sure i want to be in this area tho funny eh?

chucky

the_ash_and_the_oak wrote: »

miss out completely on what tho?

I can prob live w missing out on 1bed flat imo

on the more decent rates that are available - for me what will make houses more expensive is the mortgage rates to buy not the house prices.

the_ash_and_the_oak

chucky wrote: »

on the more decent rates that are avaiable - for me what will make houses more expensive is the mortgage rates to buy not the house prices.

See what you mean - I'm kinda the opposite - I'd only really consider borrowing at a time rates are high and likely to be lower at refix time rather than other way round (esp for a flat or something I'd prob only be in for 4-5 years).

chucky

the_ash_and_the_oak wrote: »

See what you mean - I'm kinda the opposite - I'd only really consider borrowing at a time rates are high and likely to be lower at refix time rather than other way round (esp for a flat or something I'd prob only be in for 4-5 years).

you''ve said this before - i don't really understand why.
if rates are lower when you first take it, overpay now. when rates go up you would have less interest to pay on the outstanding amount and more available to repay capital.

Pobby

Neas and I live in the same city. I read some research which said that it was pretty much slap bang in the middle of " averages " where it came to housing and wages. Overall I don`t agree regarding wages and neas is right in saying that the typical £150,000 needed for a 3 bedder would be pretty hard to fund for many people here.

Outside of the city it gets a whole lot worse with houses with some of the highest prices in the south of the country. Sure must be a few million bankers using their bonuses to buy their second homes there.

StiflersMom

Graham_Devon wrote: »

Can't help feeling a sense of Deja Vu at the moment.

Oil has hit a record YOY and is now nearly sitting at $80 per barrel again.

House prices are rising at a pretty fast rate according to some indicies.

The FTSE is up up up.

DOW is up up up.

Bank bonuses are back with avengance.

Energy companies are warning of price rises this winter.

The pound isn't far off it's years high.

Gordon Brown is back to saying we will all die within 13 minutes if we don't do something about climate change.

Pensioners are all in poverty again.

Feels like 2007 all over again!!

Yes - I agree that the recovery is now well underway again.

My OH works for an accounting firm, who made lots of people redundant last year, and have just started hiring again like crazy.

Good to see that this recession ended so quickly

neas

if you look at the houses for sale in the area pobby... its very often elderly people with Pound signs in their eyes... having bought the place for 20-50k years gone by they rub their hands with glee... or their offspring if they pass away and try to sell it on for 130-150k... some of the houses thetre are a complete state... no GCH , no double glazing, really old kitchen, crappy decor the lot etc... and they want 130-140k for it lol. no way im wasting my mony on that.

michaels

Graham - does this help you feel better - new build 3bed terrace (tiny) not far from me sold (as new) for 300k in Apr 2007 - ie well before the 'crash':

http://www.vebra.com/home/search/vdetails.asp?src=agent&fd=534&bd=1&db=1&cl=580&pid=19418948









Just put on market for 365...

neas

put on the market and sold are a bit different?