The property boom is well underway now.

silvercar

lvader wrote: »

You can't have a property boom without first time buyers, minimum deposit requirements are keeping them out at the moment. So no.

You can with BTL to fill the gap.

wageslave

HAMISH_MCTAVISH wrote: »

You're a wanted man........

http://forums.moneysavingexpert.com/showthread.html?t=2342589&page=2

post 24......;)

It is unfair to bully Asheron. Leave that to me, I have a talent for it:cool:

Hamish, it is a bliddy good thing you were banned from HPC. Frankly you'd never be able to hold your head up there now anyway.

You will be dragging unsuspecting orphans home to your poor wife by Friday:j

Squish_21

:eek: Conrad, you just described me...your my mortgage advisor!!!!


j/k

Emy1501

Conrad wrote: »

This is not some wind up thread, merely my observation that the next boom is well underway having it's origins in spring 2009.

I've been fairly quiet since mid 2007 and prior to that on this very forum urged people to sell thier B2Ls. I've been in business since 97 so have a fair feel for the market.

Business in 2010 thus far is back to levels I last saw in early 07. People are bored of recessionary talk - not my sentiment - thiers, and I am told again and again they simply pay the media no heed and are just getting on with life.

They don't trust pensions, and long term they plan to downsize at retirment and release Tax free main resi accumulation.

No one ever mentions public deficts or unemployment and most are aware borrowing is very cheap - for example 85% 3.99% or 75% 1.99%. Will it remian cheap - very doubtful but the body public dont let this concern them AFTERALL LESS THAN 1% WERE REPOSSESSED IN THE EARLY NINETIES WHEN RATES WERE HIGHER.

Parental assistance now plays a major role for buyers of all ages in my first hand experience, quite often where parents have released some of the 'free' equity they happen to have accumulated and which is not particularly missed.

Sure lending is still very tight but people are simply borrowing from other sources such as bosses and relatives.

To remain property bearish now is frankly shortsighted.

:A

Thats a bold statement you are making. I remember the beginning of 2007 well. Of course mortgage approvals were 48K in Jan so will be 100k for Feb and March if we are going back to what we saw in 2007? I will await the figures with interest. We will start to know at the beginning of April

HAMISH_MCTAVISH

wageslave wrote: »

It is unfair to bully Asheron. Leave that to me, I have a talent for it:cool:

Hamish, it is a bliddy good thing you were banned from HPC. Frankly you'd never be able to hold your head up there now anyway.

You will be dragging unsuspecting orphans home to your poor wife by Friday:j

:rotfl:

Orphans? No way.

Maybe an abandoned kitten or something......

But hopefully we'll all stop being nice once the thousand eggs are there, and normal service can be resumed.;)

lvader

Conrad wrote: »

No true at all. Many many get parental help, a loan from work, a 0% card or even save up !

Shock horror - people borrow deposits:eek: oh yes, just as thier freinds did in the past, 99% of whom were not repossessed.

I recall my own first mortgage before I was a broker. My boss had to ermm, do a conducive income reference and my GF had to pretend she worked for her brother. Tis just life in all it's glory. Anita Rovberts got a 'car loan' to start the Bodyshop.

First time buyers are down 40-50% since 2007, there has been a bit of an increase lately due to stamp duty changes. We are still a long long way from a boom in the property market.

nembot

Sorry that's some wishlist, hope it comes true for you.

Because frankly, hope is all you have.

wageslave

HAMISH_MCTAVISH wrote: »

:rotfl:

Orphans? No way.

Maybe an abandoned kitten or something......

But hopefully we'll all stop being nice once the thousand eggs are there, and normal service can be resumed.;)

FC was right, you are a total babe:kisses2:

Gorgeous_George

Well, any news keeps everyone renting (initially at least).

GG

aelitaman

Conrad wrote: »

Graham, I never lie or fiddle. Here are my recent clients;

+ Miss utterly average, non to clever clothes shop supervisor on £19.5k buying 3 bed house in Kent for £94k. Deposit of 15%. Will turn the house into 2 flats and be left with a gross yield on total outlay of circa 10%.

+ Mr & Mrs self employed - salesman and hairdresser. 90%. Possibly borrowing some deposit on 0 card (shock horror - like I and mates did when young - we all survived - honest). Loan is £243k. 2 yr tracker 5.49% - well aware rates will rise but mindfull 99% of owners keep thier homes.

+ Police inspector £60k pa borrowing 85% at 3.99% from Accord. Recently divorced.

+ FTB accounts assistant - 90% offered by Scots Widows on a 2 yr fixed. Recently took a loan that happens to be 10% of property price - lender well aware but she signed a letter saying loan is for home improvements and parents supplying the deposit. I point out affordability and budgeting - she is perfectly happy to proceed. £15k income buying in Lancs.

+ Political speech writer - yes very middle class I'll grant you and inherited a £900k house recently:eek: Borrowing £200k to buy a development property to make money.

+ Builder with past credit probs following serious injury. Buying £430k home. Modest earnings but will do up home in 2 years and make it worth c£700k. Can always sell up if needs must. Had to put in Mums name (73) as a B2L. Lender is perfectly happy to lend to her even though she has no earnings. Sensible people - done things similar in past.


Majority of my clients have some challenging issues hence why they pay me juicey fees.

Sounds like Liar Loans are back with avengence. I thought the FSA had banned all this type of lending. Seems that they are applying the same amount of regulation that got us into this mess in the first place. i.e no regulation at all.