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Mortgage Joy to last 3 years.... No rise til 2014?

1246

Comments

  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Pimperne1 wrote: »
    In fact, you are better off than me as I sold a property in 07 to fund the purchase of two flats, both of which are worth a bit less than I paid for them. In hindsight I should have sold the one and kept the cash (but I am confident that they will recoup their loss in the next few years so this is one bet you can rarely lose on).

    There were some flats selling in Manchester during the peak of 2007 which I can't see getting back to the same price for decades and decades. There's quite a few blocks of new builds here that seem okay kinda quality and decent location where you can easily pick up a pad for about 40% - 50% off peak prices. Sometimes more, sometimes less. I just can't see them regaining their peak prices for a looooonng time. Maybe your flats a different though.
  • peakoil_2
    peakoil_2 Posts: 206 Forumite
    looks like everyone is doing well out of this property crash, except for geneer. strange seeing as he alone prophesied it when God came down from the mountains and spake unto him.

    :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
    :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
    :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
    :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    Conrad wrote: »
    I benefit on my personal and commercial mortgage (rate is just 2.5%), but I'm annoyed I sold the B2L's I had in 06/07 when I pannicked about the crash. Didn't forsee uber low rates on the horizon.

    Fixed rates aren't much higher than 2.5% now.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    shortchanged wrote: »
    The headline that says 'Hooray! Housing market rockets,' says it all really.

    If you dig deep enough you'll probably find the editor of the Express is also the editor of Property Investor Monthly, How to Fleece your Tenants and Rampers Monthly.

    The owner of the Express is a !!!!!! king. Richard Desmond.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    HAMISH_MCTAVISH wrote: »
    The main beneficiaries are pre-crunch buyers on the good deals that are no longer available.

    The current level of bank profiteering means new entrants see little of the benefits.

    I'm not sure that's entirely true - you can get fixed rates of under 3% at the moment.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • edinburgher
    edinburgher Posts: 14,079 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I'm not sure that's entirely true - you can get fixed rates of under 3% at the moment.

    Depends if you have a 40% deposit or not ;)
  • geneer
    geneer Posts: 4,220 Forumite
    edinburgher wrote: »
    Depends if you have a 40% deposit or not ;)

    Those saving since 2005 are bound to have decent deposits.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    geneer wrote: »
    Those saving since 2005 are bound to have decent deposits.

    Well in Edinburgh they'd need to have saved £40,000 + just to keep up with HPI. :)

    And then the deposit on top.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    geneer wrote: »
    Those saving since 2005 are bound to have decent deposits.

    Yes but they haven't all stayed with their parents for the duration so their rent will have eaten into their savings.
  • edinburgher
    edinburgher Posts: 14,079 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Well in Edinburgh they'd need to have saved £40,000 + just to keep up with HPI.

    For once I'm glad to be a Weegie :D
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