When interest rates to go back to normal many more distressed sellers?

Poshbird

stelaconcepts wrote: »

I know most do not benefit from the abnormal low base rate, but as the base rates rise everyones rate is affected.

The very small number of people who got the right type of mortgage a few years ago benefit from the abnormal low rates staying for so long.

But most do not benefit because the banks just put the rate up way above the base rate.

If base rate goes up to 5%, and the difference continues then most mortgages will be paying over 10% :eek:

Sibley

I've been back in UK nearly 2 weeks now.I suppose I will get the usual suspects saying the following isn't true but here goes....

It's pretty obvious now that these type of forums do not contain many what I would class as average home owners. By saying average I mean the working man with a wife and 2.2 children.

Why? Because if you are in that situation you are just worried about getting your work done and money paid in the bank. If you are not planning on moving then why on earth would you spend your time on here?

These boards are only inhabited by people with an interest in house prices. That will be renters hoping prices drop and BTL landlords hoping prices rise.

Most of the friends I have met this week have not commented on anything to do with house prices or mortgage rates. Nobody is interested.

My best mate has just bought a house. It was up for 240K and he bought it for 225K. Really, that does not say anything does it?

If you were buying in 2007 you would still have tried for a discount and may have got one.

Owning property is still everyones goal. 100%.

Houses are selling and don't ask me the details but a new housing development is getting plenty of takers by offering a 5500 pound move in now scheme.

Council housing is doomed and private landlords are cleaning up.
Everyone I know with BTL properties is looking for more. They don't seem to be having trouble funding it either.

There is the odd property in an EA agents that looks cheap. Areas where you could never even think about owning look just expensive now.

The crashers are really hoping now. I do not believe their heart is in it anymore. I tried to imagine the 350K house at Kings Hill I liked reduced to 150K.

Is it ever going to happen?

No way.

macaque_2

Sibley wrote: »

I've been back in UK nearly 2 weeks now.I suppose I will get the usual suspects saying the following isn't true but here goes....

It's pretty obvious now that these type of forums do not contain many what I would class as average home owners. By saying average I mean the working man with a wife and 2.2 children.

Why? Because if you are in that situation you are just worried about getting your work done and money paid in the bank. If you are not planning on moving then why on earth would you spend your time on here?

These boards are only inhabited by people with an interest in house prices. That will be renters hoping prices drop and BTL landlords hoping prices rise.

Most of the friends I have met this week have not commented on anything to do with house prices or mortgage rates. Nobody is interested.

My best mate has just bought a house. It was up for 240K and he bought it for 225K. Really, that does not say anything does it?

If you were buying in 2007 you would still have tried for a discount and may have got one.

Owning property is still everyones goal. 100%.

Houses are selling and don't ask me the details but a new housing development is getting plenty of takers by offering a 5500 pound move in now scheme.

Council housing is doomed and private landlords are cleaning up.
Everyone I know with BTL properties is looking for more. They don't seem to be having trouble funding it either.

There is the odd property in an EA agents that looks cheap. Areas where you could never even think about owning look just expensive now.

The crashers are really hoping now. I do not believe their heart is in it anymore. I tried to imagine the 350K house at Kings Hill I liked reduced to 150K.

Is it ever going to happen?

No way.

Sibley, I find your spin and distortion of the facts entertaining but I draw the line at bare faced lies:

Most of the friends I have

My best mate

Percy1983

Why are all your best friends here when you don't live in this country?

Interesting what you say about the normal man/wife, 2.2 children, thats where I am trying to get but high house prices have delayed the plan slightly.

Sibley

Why are all your best friends here when you don't live in this country?

I've only lived in Bangkok 2 years.

It is impossible to have male Thai friends.

Percy1983

Sibley wrote: »

I've only lived in Bangkok 2 years.

It is impossible to have male Thai friends.

More than made up for by the female 'friends' I guess :beer:

debtistheft

Percy1983 wrote: »

More than made up for by the female 'friends' I guess :beer:

Shemale more like.

Sibley is a Sodomite.

Percy1983

If thats makes him happy who are we to judge?

Sibley

More than made up for by the female 'friends' I guess

You are not wrong there. I've got about a million female friends. I'm happy with the balance.

Shemale more like.

Sibley is a Sodomite.

I've got plenty of ladyboy friends as well. I like them but don't fancy them.

I worry when I see people making angry comments about gay people. I always think they have a secret. :rotfl:

abaxas

Percy1983 wrote: »

If thats makes him happy who are we to judge?

Of course we can!

It's human nature.