Help with Mortage Valuation please

des_cartes

HAMISH_MCTAVISH wrote: »

1) "Dodgy lending" stopped with the crash. Prices have risen by £20,000 since the crash ended, with no "dodgy lending".

2) The average income of house buyers is very different from the average income of all people. You are confusing the two.



You would have said the same thing in 2009..... When the average house price was around £20,000 cheaper than today.:cool:

Well i'm not going to buy yet. It's pretty obvious whether it is law yet or not that people will not be able to borrow what they could before the crash. Everyone is talking about house prices falling, it is all over the newspapers and tv and if I buy now I will lose a fortune in a year or two. If the op wants to buy a house now thats up to them but I won't be buying until the prices have come down even more, maybe next year or in two or three depending on how fast they fall. i suppose it all depends on how big the cuts are after October and how many people lose their job.

harz99

des_cartes wrote: »

Well i'm not going to buy yet. It's pretty obvious whether it is law yet or not that people will not be able to borrow what they could before the crash. Everyone is talking about house prices falling, it is all over the newspapers and tv and if I buy now I will lose a fortune in a year or two. If the op wants to buy a house now thats up to them but I won't be buying until the prices have come down even more, maybe next year or in two or three depending on how fast they fall. i suppose it all depends on how big the cuts are after October and how many people lose their job.

All of which makes your posts on this thread in which the OP was looking for advice, pretty well useless.

They are clearly coming from someone who is hoping for the financial crisis to go even further and make a killing in the future, which is of no help to someone who wants to move now.

des_cartes

harz99 wrote: »

All of which makes your posts on this thread in which the OP was looking for advice, pretty well useless.

They are clearly coming from someone who is hoping for the financial crisis to go even further and make a killing in the future, which is of no help to someone who wants to move now.

How can you come to that conclusion. I thought the idea of this forum was to save people money. I have saved money by selling a house at the top of the market and not buying again until prices have fallen further. That is what i am suggesting the op does. The fact that they are getting valuations suggesting the house they want to buy is overpriced should help them to avoid financial suicide if they use it as an opportunity.

pararct

I dive into HPC from time to time as well.

Of course there is an element who thinks the world as we know it will end tomorrow is a flash of financial disaster and it is these posters that you must take with a pinch of salt.

On the other hand there are some very astute posters that are able to dissect daily financial news and predict what it means for the market.

Some there were calling the demise of Northern Rock and the wider financial crisis many Months before it actually happended and discussing the reasons as to why. This was some time before we heard Peston on the BBC giving those very same reasons.

The evidence is on the site and in the dates of the posts, sceptics need only go and look. One I think has already been linked to from this thread.

Another example was some their predicted the collapse of Icesave a fortnight before it actually happened. Now the UK Government made good on UK deposits in that bank but if they had not that sort of information is priceless.

On that basis some posters on that site command absolute credibility for me and I enjoy reading what may be about to come. Yes there are persons who think (and hope) the UK housing market will crumble to nothing (of course it wont) but it is worth filtering out the chaff so one can get to the wheat.

End of the day most persons can make their own minds up as to the credibility of a web site. It is simply a matter of taking a balanced view.

Whining about that credibility from a position of personal animosity is childish and serves no purpose

Trollfever

Another example was some their predicted the collapse of Icesave a fortnight before it actually happened.

Newly registered posters on this site were claiming at the time that the Icelandic Banks were 100% safe.

des_cartes

Trollfever wrote: »

Newly registered posters on this site were claiming at the time that the Icelandic Banks were 100% safe.

Probably the same ones who tell people that house prices are rising today.

harz99

des_cartes wrote: »

How can you come to that conclusion. I thought the idea of this forum was to save people money. I have saved money by selling a house at the top of the market and not buying again until prices have fallen further. That is what i am suggesting the op does. The fact that they are getting valuations suggesting the house they want to buy is overpriced should help them to avoid financial suicide if they use it as an opportunity.

You completely ignoring the fact that the OP wants to move, has her partner away in the services and was looking for advice on dealing with the mortgage valuation by Santander's agent not how to make money out of the housing market.

You say you sold a property at the top of the market - bully for you - many sections of the market are not at that level now, so the OP cannot do as you suggest. Apart from that she would also suffer an immediate £5k redemption penalty (which is not very MSE) and have to find suitable rented accomodation with her partner overseas.

If you are going to suggest she should not go ahead and buy the property she wants at the price the builder wants to sell it for
because it would be "financial suicide", the best advice would simply be to stay where she is and ride out the trough until matters improve again, as they surely will in time.

But of course to give this advice would not suit your own aims, would it?

des_cartes

harz99 wrote: »

You completely ignoring the fact that the OP wants to move, has her partner away in the services and was looking for advice on dealing with the mortgage valuation by Santander's agent not how to make money out of the housing market.

You say you sold a property at the top of the market - bully for you - many sections of the market are not at that level now, so the OP cannot do as you suggest. Apart from that she would also suffer an immediate £5k redemption penalty (which is not very MSE) and have to find suitable rented accomodation with her partner overseas.

If you are going to suggest she should not go ahead and buy the property she wants at the price the builder wants to sell it for
because it would be "financial suicide", the best advice would simply be to stay where she is and ride out the trough until matters improve again, as they surely will in time.

But of course to give this advice would not suit your own aims, would it?

It would be bad advice. I am not wealthy enough to do what you suggest the op does but if she is, as presumably you are, then wasting tens of thousands is no problem.

harz99

des_cartes wrote: »

It would be bad advice. I am not wealthy enough to do what you suggest the op does but if she is, as presumably you are, then wasting tens of thousands is no problem.

More unhelpful opinion, and incoherent at that.

I rest my case!

des_cartes

harz99 wrote: »

More unhelpful opinion, and incoherent at that.

I rest my case!

Let me help you and the op. I am suggesting that she does what I did. Sell now and buy later at a lower price. That way she will save money. It is a simple concept and unlike your agenda helps people to save money.