Is anyone still looking at houses to buy?

rilou81

My area is not that badly effected. Its actually the stubborn people that refuse to drop prices that are making other properties hold out IMO.
My house was valued in the peak at over £120'000 and some houses are still priced at £125'000 even £115'000-they are never going to sell!!!!! I do not use these as a comparision as i believe they will sit on the market another 2 years and some of them have already been sitting 1 year.
I will do something to mine in Jan and hope that people are interested : ) xx

seraphina

rilou81 wrote: »

Its swings and roundabouts really. I assume you have the 10% deposit so would perfer the 5% off, whereas a lot of people would prefer the 5% to help them on the ladder-I would imagine most people seeing that would either say ill have the deposit of give the the money off-same difference to me.
Only thought about it as a friend is doing it on a house she loved, they offered her the 5% and now she can buy...........lots of help on here and good points, food for thought, thanks x

Good luck finding a first time buyer whose mortgage company will accept the 5% gifted deposit....the 5% gifted deposit thing is a total waste of your time.

We're actively looking to buy but have yet to find a house we like. We'll still be looking over Christmas.

JustKeepSwimming_2

seraphina wrote: »

Good luck finding a first time buyer whose mortgage company will accept the 5% gifted deposit....the 5% gifted deposit thing is a total waste of your time.

We're actively looking to buy but have yet to find a house we like. We'll still be looking over Christmas.

Why don't the mortgage companies accept the 5% gifted deposit? Apologies if being thick here - I'm new to all this house buying/selling malarkey....

tara747

rilou81 wrote: »

Its swings and roundabouts really. I assume you have the 10% deposit so would perfer the 5% off, whereas a lot of people would prefer the 5% to help them on the ladder-I would imagine most people seeing that would either say ill have the deposit of give the the money off-same difference to me.
Only thought about it as a friend is doing it on a house she loved, they offered her the 5% and now she can buy...........lots of help on here and good points, food for thought, thanks x

I agree with brit1234 and seraphina. If you really want to sell, drop your price till you attract interest. It's the only way really.

Anyway, only a 5% deposit? Imagine how high the mortgage rate would be on that, assuming you could get a mortgage!!!

Let's face it, if a buyer can't even save a 5% deposit, they shouldn't be buying a house. End of story.

brit1234

JustKeepSwimming wrote: »

Why don't the mortgage companies accept the 5% gifted deposit? Apologies if being thick here - I'm new to all this house buying/selling malarkey....

Because the building companies used it to defraud the banks and distort land registry prices upwards to make bigger proffits. People bought inflated newbuilds and declared one price but actually got it cheaper but the full price was logged on the landregistry. This then pushed up the other local properties as surveyers used the land regisgry sales figures as a bench mark. It all ended up with a giant housing bubble and people with little deposit at all.

The banks refuse to lend on gifted deposits as they carry all the risk which is magnified in a falling market as we have now.

All very dodgy :mad:

sonastin

I am actively looking to buy. If something popped up on my on-line searches that I liked, I'd try to arrange a viewing, christmas or no christmas. Although I appreciate it might be harder to get a slot that suits the vendors as everyone is busy at this time of year.

tinyteeny

We are actively looking. We have just accepted an offer on the basis that we complete on the 24th January. I can move into my mums for a bit but would prefer to have our purchase well under way by 24th Jan if possible.

Catatonia

I too am actively looking, and am frustrated that no-one's dropping prices or coming onto the market near me anymore. I reckon the EAs talk up the Christmas downturn to get themselves a bit of time off.

V6Matt

Catatonia wrote: »

I too am actively looking, and am frustrated that no-one's dropping prices or coming onto the market near me anymore. I reckon the EAs talk up the Christmas downturn to get themselves a bit of time off.

I am friends with a few Estate Agents, one had a very good month in November/late October but stated that there is definitely a slowing in the number of people looking at the moment. He predicted it will be slow for a short while yet due to Xmas and people checking to see what the new year brings.

rilou81

seraphina wrote: »

Good luck finding a first time buyer whose mortgage company will accept the 5% gifted deposit....the 5% gifted deposit thing is a total waste of your time.

We're actively looking to buy but have yet to find a house we like. We'll still be looking over Christmas.

My friends mortgage company has accepted it, hense the reason I mentioned it. She is just going through the process now x