Ditch my fix?

beecher2

Zoopla's pretty inaccurate as my experience - definitely check the two websites I mention as they give you the real figures.

Engeroosi

According to both the websites the average price for a house in my area in 94000!!! Please don't tell me that you believe this to be more accurate! You couldnt buy a garage for that here these days!!

Regardless this is not what i am looking for advice on. I don't want to sell, I want to lower my interest Im paying if possible!

beecher2

Engeroosi wrote: »

According to both the websites the average price for a house in my area in 94000!!! Please don't tell me that you believe this to be more accurate! You couldnt buy a garage for that here these days!!

Regardless this is not what i am looking for advice on. I don't want to sell, I want to lower my interest Im paying if possible!

The websites I gave you give you the real selling prices for houses in your area. Don't look at averages - look at a similar house in a similar street.

This is relevant to what you're asking for as you need to know what your LTV is before deciding whether remortgaging is worth it. Lenders will look at what houses are going for when they make their judgement on the value of your house

Engeroosi

Nobody in my street has been selling, as its a desirable area to live. There was one that sold but it was a repo and was in a bad state, it sold again with 2-3weeks at 157,000. My house is modern and upto date with new bathrooms and kitchen and recently decorated throughout. Required no upgrading, so hard to compare with a repo that requires complete refurb.

RenovationMan

LOL, I used both of those websites mentioned and they came back with £177,475. What an idiot I am for paying £450k for my house in May 2010!

:rotfl:

Engeroosi

Wow you got done more than I did. Was Zoopla any better?

beecher2

RenovationMan wrote: »

LOL, I used both of those websites mentioned and they came back with £177,475. What an idiot I am for paying £450k for my house in May 2010!

:rotfl:

I don't recommend looking at averages, as they use historic data which obviously doesn't reflect present day values - my own street uses the figures from the last 6 years. But looking at recent sales for similar properties is vital if you want to work out a realistic LTV, rather than just assume that your own property/house/area is immune to what's going on elsewhere.

RenovationMan

Engeroosi wrote: »

Wow you got done more than I did. Was Zoopla any better?

Wow, pretty accurate. Zoopla had a price of £452,016 for my house. amazing.

Engeroosi

I have not assumed, I have researched various articles, press releases and graphs which all show Aberdeen house prices have not fallen but in fact risen! If you can take the time to research more than just generalise everywhere being the "UK" which nearly every article does, Scotland is not the UK, it isn't London, Newcastle, Birmingham or Leeds. That is where all the public are hearing about being the UK. About time people stood up and realised not everywhere is suffering to the same extent as reported in the news. On the other side there are some who are suffering more. Rant over. Now back to my OP

Engeroosi

Funny that renovation man!!! What area is it you live?