Is anyone still looking at houses to buy?

rilou81

tara747 wrote: »

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.

Think thats a very unfair comment that if people can't save 5% they should not be buying.
As a FTB my friend is looking at 250K houses that are terraces. She has struggled to save 5%. She is on a low income a support worker to adults with learning disabilities (rubbish money for the work) If its her only option to have a 5% gifted deposit and everyone is happy, then she has as much right as others.
I struggled to save my deposit 6 years ago, it is hard when things crop up. Everyone has as much right, its just some people are luckier to be on a lot higher wage. I am tottaly against the whole 100/110% mortgage think and thought they were stupid in the 1st place, you should have to prove you are responsible enough, but when my 10% deposit is 9k and someone elses is 25K there is a massive difference and unfortunatly there is not a massive difference in wages x

rilou81

tara747 wrote: »

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.

They put the other 5% to, so its a 10% deposit. They do not give out 5% mortages x

rilou81

Regardless for all the gifted deposit stuff, I appriciate peoples oppions and I will def rethink what we chose to do.

Good to know some people are still looking and also an EA view on the slowing market x

tara747

rilou81 wrote: »

Think thats a very unfair comment that if people can't save 5% they should not be buying.
As a FTB my friend is looking at 250K houses that are terraces. She has struggled to save 5%. She is on a low income a support worker to adults with learning disabilities (rubbish money for the work) If its her only option to have a 5% gifted deposit and everyone is happy, then she has as much right as others.
I struggled to save my deposit 6 years ago, it is hard when things crop up. Everyone has as much right, its just some people are luckier to be on a lot higher wage. I am tottaly against the whole 100/110% mortgage think and thought they were stupid in the 1st place, you should have to prove you are responsible enough, but when my 10% deposit is 9k and someone elses is 25K there is a massive difference and unfortunatly there is not a massive difference in wages x

Read the bits in red in your own post again and ask yourself... would she actually be able to borrow that much money??? Or what do you class as a low income? :eek:

The OH and I are on a joint salary of over £60k and aren't even looking at houses in that price range.

Catatonia

rilou81 wrote: »

As a FTB my friend is looking at 250K houses that are terraces. She has struggled to save 5%.

Why doesn't she look at a cheaper house/ flat? Even in pricey areas I've looked in (Winchester) there's loads of stuff below £250k that is perfectly decent.

westlondonbuyer

I still check Rightmove daily - truth be told it's a bit of an addiction. I'd be furious with myself if the perfect house came up and we missed it because I'd taken my eyes off the ball. We have lots of friends in the same boat and they're all the same, the internet has changed the game totally and looking is hardly any time or effort at all. Viewings are a bit more hassle but the weather isn't going to stop me, I need and want a permanent home and that's a much bigger priority than staying warm!

tara747

Catatonia wrote: »

Why doesn't she look at a cheaper house/ flat? Even in pricey areas I've looked in (Winchester) there's loads of stuff below £250k that is perfectly decent.

I was sort of thinking the same thing, wonder where these £250k terraces are!!! Prices have fallen a heck of a lot, even in expensive areas surely terraced houses shouldn't be THAT much...

tara747

westlondonbuyer wrote: »

I still check Rightmove daily - truth be told it's a bit of an addiction. I'd be furious with myself if the perfect house came up and we missed it because I'd taken my eyes off the ball. We have lots of friends in the same boat and they're all the same, the internet has changed the game totally and looking is hardly any time or effort at all. Viewings are a bit more hassle but the weather isn't going to stop me, I need and want a permanent home and that's a much bigger priority than staying warm!

Hey, don't worry, it's a buyer's market, nothing is shifting and if it does it's taking weeks, months or (in the case of one of my neighbours) years, so you are very unlikely to miss out.

Catatonia

Well, in Winchester you are looking at £250 plus to get a two bed terrace character property. But, there are a lot of much cheaper options if you are willing to go without a character place.

rilou81

tara747 wrote: »

Read the bits in red in your own post again and ask yourself... would she actually be able to borrow that much money??? Or what do you class as a low income? :eek:

The OH and I are on a joint salary of over £60k and aren't even looking at houses in that price range.

Its with her Hubby, and yes they have been approved for the mortgage with him and its going through. x