BTL Boom continues

The_J

That's not very nice.

Also, IQ and mouth size are not measured on the same scale. If they were Stephen Hawking would be a great pornstar

edit: Have you noticed a pattern yet? I seem to troll people who are always wrong.

Graham_Devon

The_J wrote: »

Oh my god, this is infuriating. Is your IQ like less than 20? I really feel the need to educate you I can't have you going through life like this.

OK. Let's say you're looking in the Rotherham area (not sure why Rotherham, nice place, average house prices)

Lets say Rent is £750 a month on House 1 (http://www.rightmove.co.uk/property-to-rent/property-22026735.html). 4 bed detached.
Mortgage of £150k on House 2 (assuming you can get 5k off the purchase price http://www.rightmove.co.uk/property-for-sale/property-33860329.html). Boo, 3 bed semi. £750 a month interest only. £1,000 a month repayment.

Live in House 1 for 5 years. Save £250 a month.
Live in House 2 for 5 years. Knock £250 a month off your mortgage.

Please tell me you get that?

Bad luck getting thanked by Thrugelmir. That's the kiss of death.

Right, fair play, you have found one single place you could do what you suggest. Doesn't take into account any mortgage fee's or moving costs, but we'll ignore that.

Is this something you can do across the country? No.

Also, being thanked by thrugel is an honour. He's consistently been more correct than many on here.

Thrugelmir

The_J wrote: »

edit: Have you noticed a pattern yet? I seem to troll people who are always wrong.

I have noticed a pattern. You appear to suffer from a severe case of OCD.

Your family, employees and friends have my empathy. As I realise the toil that the condition must have on them. Listening to you all day.

The_J

Graham_Devon wrote: »

Right, fair play, you have found one single place you could do what you suggest. Doesn't take into account any mortgage fee's or moving costs, but we'll ignore that.

Is this something you can do across the country? No.

Also, being thanked by thrugel is an honour. He's consistently been more correct than many on here.

You are pathetic. But you're right, in 1 minute I found the only example in the whole of the UK.

You got destroyed. Fair play for coming back to admit it.

Percy1983

chucky wrote: »

So you do want house prices to rise, otherwise you would have lost £30k.

Lets see if you understand what happens if prices drop, I sell for less and then buy for less, so now really loss, just less debt needed to move 'up the ladder'.

So I really do welcome price drops.

As for losing the deposit etc if prices drop... so what my mortgage is less than rent so I win anyway.

wotsthat

Emy1501 wrote: »

When I have sold houses I have had an idea what the property worth and then asked an agent to value it. When ive sold I have then had to hope the valuer valued the property at the price sold. If the valuer had not agreed or the lender wouldn't lend at the price I wanted then I had the choice of reducing the price or hoping someone else came along who could get a mortgage at the price I wanted.

Yes it's an a**e pain of course hoping that lenders value the property for mortgage purposes the same way as buyers and sellers.

The solution isn't for the seller and buyers lender to collude to agree a price on behalf of the buyer. When I buy a house I don't want the vendor to have any discussions with my lender whatsoever. If the lender values the property at a lower level then it's up to me to negotiate with the seller or find some more money.

chucky

The_J wrote: »

edit: Have you noticed a pattern yet? I seem to troll people who are always wrong.

The problem is that you're right, just imagine how wrong they are on here and how poor their decisions in real life must be...

chucky

Percy1983 wrote: »

Lets see if you understand what happens if prices drop, I sell for less and then buy for less, so now really loss, just less debt needed to move 'up the ladder'.

So I really do welcome price drops.

As for losing the deposit etc if prices drop... so what my mortgage is less than rent so I win anyway.

Percy, we're talking about the real world here... Do you really think that all property types increase in value by the same amount?

Let me expain it to you a little easier for you... In London there was a time from 2000 onwards that flats increased more in value than maisonettes and even houses. At the moment I believe that houses are increasing more in value than flats. Both in absolute and percentage terms so your little 'dream' or gamble could fall flat on it's face or you could be a HPI junkie that gets helped up the housing ladder.

chucknorris

Emy1501 wrote: »

There is no reason why a builder can't build properties at prices that a well done up non new build would cost.

Actually there is a reason, as time progresses the building regulations become much more stringent and now the code for sustainable homes does impose quite an additional cost on new development.

Percy1983

chucky wrote: »

Percy, we're talking about the real world here... Do you really think that all property types increase in value by the same amount?

Let me expain it to you a little easier for you... In London there was a time from 2000 onwards that flats increased more in value than maisonettes and even houses. At the moment I believe that houses are increasing more in value than flats. Both in absolute and percentage terms so your little 'dream' or gamble could fall flat on it's face or you could be a HPI junkie that gets helped up the housing ladder.

By all means I agree not all types of property move up and down at the same rates. but the odds on one type dropping massively while another increases massively aren't too high, ie my 3 bed semi drops 25% and the 4 bed detached drops 20% I will still be better off taking on less debt than them both increasing by 40%.

Yet again I really am happy for prices to drop, if I want to move up the ladder I will just work harder and pay down more, I don't expect or want HPI to gift me a deposit from doing nothing.

With that I have bought a house big enough to live in for the next 25 years all being well, I am not going to be chasing bigger houses/flasher cars, happiness is much more than that.

As it is I can say unless anything drastic happens I will be happy here for the next 25 years