House prices seen as overvalued

ess0two

MrEnglish wrote: »

Spot on, its amazing how everyone has forgot the main reason the bubble keeps expanding even more is artificially low base rates.

Everything will change when interest rates correct.

the bubble will BURST!

Correct?pmsl,the majority aint benefitting from .5% more likely 4-5% at the mo.
When rates do rise they will level on par,against BOE and lenders rates.

IveSeenTheLight

ess0two wrote: »

Correct?pmsl,the majority aint benefitting from .5% more likely 4-5% at the mo.
When rates do rise they will level on par,against BOE and lenders rates.

If people think rates will rise, you can't go far wrong with a 5.29% 10 year fix
http://www.britannia.co.uk/_site/channels/mortgage/products/10yr-fixed.html

If people are put off by the £999 arrangement fee, they can get the £0 arrangement fee for 5.49% 10 year fixed.

vaporate

well duh! houses prices are double of what they are really worth. I wouldnt buy a house or flat even if I had the money in the bank right now!

Better off !!!!!!ing off to thailand and living off savings in old age lol

vaporate

chucky wrote: »

it's only the people that can't afford to buy that think that houses are unaffordable

those that can afford it fully appreciate and know they're expensive

the others are just the afflicted

!!!!!!!!, I would like to see you try and buy a house in my generation!!!

My sister for example with a biochemistry degree from royal holloway could not still ever hope to buy a house on her salary (24k in london) unless she has a partner that is stable, even if still possible then.

Frankly I dont know how ppl do it.

not counting the spongers here who bleed their parents dry.

Graham_Devon

IveSeenTheLight wrote: »

If people think rates will rise, you can't go far wrong with a 5.29% 10 year fix
http://www.britannia.co.uk/_site/channels/mortgage/products/10yr-fixed.html

If people are put off by the £999 arrangement fee, they can get the £0 arrangement fee for 5.49% 10 year fixed.

Requires a hefty 25% deposit though.

ukcarper

vaporate wrote: »

!!!!!!!!, I would like to see you try and buy a house in my generation!!!

My sister for example with a biochemistry degree from royal holloway could not still ever hope to buy a house on her salary (24k in london) unless she has a partner that is stable, even if still possible then.

Frankly I dont know how ppl do it.

not counting the spongers here who bleed their parents dry.

24k is less than average wage and it’s been a long time since you could buy a house on that in London, I couldn’t in 1972.

IveSeenTheLight

Graham_Devon wrote: »

Requires a hefty 25% deposit though.

It does and for many mortgage holders out their they will qualify with that 25% deposit / equity.
what does it also tell you about the time when these sort of product would have previously required a 40% deposit?

If you are looking for products with higher LTV (for FTBers), there are products out there.
Just have a look around.

Britannia also offer 85% LTV's for 5 year fixed at 5.79%
http://www.britannia.co.uk/_site/channels/mortgage/products/medium-term-fixed-rates.html

There are even 90% mortgages out there.

I'm not going to list them all as each individual person will have different requirements

My point was a 10 year fix at 5.29% is fantastic security, long term, against interest rate rises which will be applicable for many mortgage holders

chucky

vaporate wrote: »

!!!!!!!!, I would like to see you try and buy a house in my generation!!!

My sister for example with a biochemistry degree from royal holloway could not still ever hope to buy a house on her salary (24k in london) unless she has a partner that is stable, even if still possible then.

Frankly I dont know how ppl do it.

not counting the spongers here who bleed their parents dry.

how different would that be to 30 years ago or your generation

1. most purchases were by couples - single people would have found it very difficult to get finance or even buy property
2. a woman would not have been able to get a mortgage on her own

i'm not sure what you're point is because there are thousands of properties in and around commutable distance from London easily affordable on her salary.