Halifax... Down -2.4% for April

paulmapp8306

Why do people care ????

March saw a rise as it was the last month before the stamp duty holiday for 1st time buyers. It was widely reported thst was the cause of therise at the time. Aprils dip just brings things back to normal.

there is still a slight fall - and its to be expected given the current situation, but it is as it has been for a while - pretty flat really.

I have always said house prices are too high, and SHOULD really be 30-40% below current levels. Having said that Im currently purchasing a house. Basically as I have a year left in the forces, want my family settled in one location before the turmoilt of that change.

Renting isnt an option for a few reasons. My wife is fed up of living in someone elses house, we need stability for the kids, and currently renting a similar property to the one were buying is £200-£250 more expensive.

The house is to live in - and as long as I can afford the repayments (which as I say are less than rentig and will continue to be providing interest rates dont rise by more than 3%) i really dont care what someone else says its worth.

MatteH

HAMISH_MCTAVISH wrote: »

Interest payments that would have been significantly lower than the cost of rent on a comparable property for most, thanks to record low rates for the last few years.

You say most people. I would like to see hard figures from a reputable source to prove this, because in my experience in Oxfordshire, it isn't the case for people that were FTB in the last 5-6 years.

All of my friends that have bought, bar one, had fixes at about 5%. Some are now on the SVR with the potential for rises given the recent conditions at several major banks

My rent is 2/3 the cost of their mortgages & I've had no fees or maintenance costs either. I'm the one with tens of thousands in the bank, they are living hand to mouth with next to no savings.

Who's the mug then?.

chucky

MatteH wrote: »

My rent is 2/3 the cost of their mortgages & I've had no fees or maintenance costs either. I'm the one with tens of thousands in the bank

Yes ok then, it must be true if you typed it in a post on an internet forum.

MatteH

chucky wrote: »

Yes ok then, it must be true if you typed it in a post on an internet forum.

Check the average rents & check out how much a 100% I.O. mortgage would have been in Oxford city over the last 5 years for a particular property.

The data is freely available.

GDB2222

paulmapp8306 wrote: »

Why do people care ????

March saw a rise as it was the last month before the stamp duty holiday for 1st time buyers. It was widely reported thst was the cause of therise at the time. Aprils dip just brings things back to normal.

there is still a slight fall - and its to be expected given the current situation, but it is as it has been for a while - pretty flat really.

I have always said house prices are too high, and SHOULD really be 30-40% below current levels. Having said that Im currently purchasing a house. Basically as I have a year left in the forces, want my family settled in one location before the turmoilt of that change.

Renting isnt an option for a few reasons. My wife is fed up of living in someone elses house, we need stability for the kids, and currently renting a similar property to the one were buying is £200-£250 more expensive.

The house is to live in - and as long as I can afford the repayments (which as I say are less than rentig and will continue to be providing interest rates dont rise by more than 3%) i really dont care what someone else says its worth.

I'm just curious about something. If you are leaving the forces in a year's time, how do you know that you will find a job/be able to pay the mortgage? It seems odd timing to be entering into a major commitment. (By the way, this is none of my business!)

RenovationMan

MatteH wrote: »

Yeah just think, 6 years with no capital gains & all that dead money gone on interest payments :money:

How would I spend any capital gains?

As Hamish points out, I'm paying much less each month on my 2.54% mortgage rate than I would be paying in rent on a comparable property, plus we have installed a very highly efficient heating system and a LOT of insulation, which keeps our utility bills low, probably much lower than a rental property where the landlord doesn't benefit personally from installing that sort of kit.

Finally, just think of the overpayments to my mortgage during these years of historically low interest rates. I've lived in this house for 2 years and I have reduced my mortgage term by more than twice that. I'm gaining a lot more from a static economy and static housing market than I would gain from a booming economy and a booming housing market.

chucky

MatteH wrote: »

Check the average rents & check out how much a 100% I.O. mortgage would have been in Oxford city over the last 5 years for a particular property.

The data is freely available.

No it's fine.

ruggedtoast

Over on hpc.co. uk they are celebrating this news. They are excited!

Meanwhile round my way houses are selling like hot cakes, and for high prices. This is, on reflection, the best possible outcome, for me!

simonSE15

Can the last person to get out of BTL turn out the light. _pale_

chucknorris

simonSE15 wrote: »

Can the last person to get out of BTL turn out the light. _pale_

Why would I want to get out with my mortgage rates averaging only 1.1%, in 21 years of being a landlord it has never been more profitable than the last 3 years (by some margin), I'll get out in about 10-15 years when the market is good.