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My neighbour is staying

Muscle750
Muscle750 Posts: 1,075 Forumite
in House buying, renting & selling
My neighbours house has been on the market for 18 months at £190k hes had about 12 viewings sum returning with a offer of 30p. The road we live in is very quiet over looking fields and the highlight of the day is the milkman the house is up together and needs nothing doing to it. He had chance of a job overseas now hes lost this and has took it off the market. Seems quite a few wanted it but couldnt raise the funding what a sad state of affairs this country has got into. My daughters getting married next month and i cant see them ever getting on the ladder if this carries on
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Comments

  • jules888
    jules888 Posts: 558 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Muscle750 wrote: »
    My neighbours house has been on the market for 18 months at £190k hes had about 12 viewings sum returning with a offer of 30p. The road we live in is very quiet over looking fields and the highlight of the day is the milkman the house is up together and needs nothing doing to it. He had chance of a job overseas now hes lost this and has took it off the market. Seems quite a few wanted it but couldnt raise the funding what a sad state of affairs this country has got into. My daughters getting married next month and i cant see them ever getting on the ladder if this carries on
    Did i read right? 30p for a house!
  • Grimbal
    Grimbal Posts: 2,334 Forumite
    Part of the Furniture Combo Breaker
    eh? Not sure I understand
    "Science is a wonderful thing if one does not have to earn one's living at it" Einstein 1951
  • poppysarah
    poppysarah Posts: 11,522 Forumite
    Muscle750 wrote: »
    My daughters getting married next month and i cant see them ever getting on the ladder if this carries on


    Yeah it'll be all the people who won't sell their house for 30p ruining it for them.
  • TonyMMM
    TonyMMM Posts: 3,427 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    He should have reduced the price to get it sold.

    If he and others were realistic about what their house was really worth, prices would fall to a proper level and your daughter would be able to buy. It will happen - it is just taking a while...prices at the moment are being propped up by artificially low interest rates.
  • kingstreet
    kingstreet Posts: 39,284 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Muscle750 wrote: »
    Seems quite a few wanted it but couldnt raise the funding
    Why? What's the issue?
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • DVardysShadow
    DVardysShadow Posts: 18,949 Forumite
    Muscle750 wrote: »
    Seems quite a few wanted it but couldnt raise the funding what a sad state of affairs this country has got into. My daughters getting married next month and i cant see them ever getting on the ladder if this carries on
    Indeed, a sad state of affairs.

    Willing buyers with not enough money, willing sellers who want too much. And with the death of Einstein, a complete lack of geniuses to solve the problem.

    We're doomed.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Muscle750
    Muscle750 Posts: 1,075 Forumite
    kingstreet wrote: »
    Why? What's the issue?
    Issue being is that as you will know deposits are required and no matter how far down a chain you go someone is starting off on the ladder and needing 25% plus deposit and it just knocks on along the chain.
  • casualwalks
    casualwalks Posts: 188 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    You don't a 25% deposit. Many FTB start with 10%.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Holiday Haggler
    There are a few 100% mortgages on offer now also
  • casualwalks
    casualwalks Posts: 188 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    ringo_24601 wrote: »
    There are a few 100% mortgages on offer now also

    Really? Whose's offering 100%? I'm surprised that there are any in this climat.
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