MSE News: Halifax: House prices dipped slightly in July

brit1234

Falling house prices hit remortgaging hopes for millions

Falling house prices are blocking millions of homeowners from cheaper mortgages as lenders knock off thousands of pounds during a property valuation.

A so-called ‘down-valuation’ by a lender can wipe out thousands of pounds of equity at remortgage — and also trap borrowers desperate to move to a bigger home.

When you decide to switch lenders for a better mortgage deal, the bank or building society arranges a new valuation on your home to check it’s worth enough to let you borrow the sum you need.

Full story below: http://www.dailymail.co.uk/money/mortgageshome/article-2185126/House-price-fall-hits-hopes-remortgaging-millions.html#ixzz22wSl6hQd

Beware the buy to let landlords on this site who launch person attacks on MSE members who highlight what is happening. They don't want you to know the truth about the unsustainability of British house prices. Look at the maths and the funding situation to make your own mind up. We are likely to have falls in most months up to February.

DRP

brit1234 wrote: »

Falling house prices hit remortgaging hopes for millions

Falling house prices are blocking millions of homeowners from cheaper mortgages as lenders knock off thousands of pounds during a property valuation.

A so-called ‘down-valuation’ by a lender can wipe out thousands of pounds of equity at remortgage — and also trap borrowers desperate to move to a bigger home.

When you decide to switch lenders for a better mortgage deal, the bank or building society arranges a new valuation on your home to check it’s worth enough to let you borrow the sum you need.

Full story below: http://www.dailymail.co.uk/money/mortgageshome/article-2185126/House-price-fall-hits-hopes-remortgaging-millions.html#ixzz22wSl6hQd

Beware the buy to let landlords on this site who launch person attacks on MSE members who highlight what is happening. They don't want you to know the truth about the unsustainability of British house prices. Look at the maths and the funding situation to make your own mind up. We are likely to have falls in most months up to February.

So are tabloid sources to be believed or not? (I think you are guilty of a bit of cherry-picking here, brit)

brit1234 wrote: »

Your just worried about your highly geared buy to lets falling in value. Go buy a copy of the Daily Express with a fictional house price ramping story by Sarah Grady.
//snip

sinbad182

brit1234 wrote: »

Falling house prices hit remortgaging hopes for millions

Falling house prices are blocking millions of homeowners from cheaper mortgages as lenders knock off thousands of pounds during a property valuation.

A so-called ‘down-valuation’ by a lender can wipe out thousands of pounds of equity at remortgage — and also trap borrowers desperate to move to a bigger home.

When you decide to switch lenders for a better mortgage deal, the bank or building society arranges a new valuation on your home to check it’s worth enough to let you borrow the sum you need.

Full story below: http://www.dailymail.co.uk/money/mortgageshome/article-2185126/House-price-fall-hits-hopes-remortgaging-millions.html#ixzz22wSl6hQd

Beware the buy to let landlords on this site who launch person attacks on MSE members who highlight what is happening. They don't want you to know the truth about the unsustainability of British house prices. Look at the maths and the funding situation to make your own mind up. We are likely to have falls in most months up to February.

You're actually a bit mad, aren't you?

You have to admit, this isn't normal behaviour.

christopher1977

must only be me that agrees with Brit:D

where i live (north west) prices have gone down substantially and I can't see anything to change it. I imagine prices will continue to decline.

brit1234

DRP wrote: »

So are tabloid sources to be believed or not? (I think you are guilty of a bit of cherry-picking here, brit)

Your right a bit, however the Daily Express is the biggest property ramper paper there is with the owner and property writer heavily invested. At least the daily mail puts a more balanced view on this sector (maybe not other issues).

Whats your views on Nationwide, Halifax and Land Registry next month? I reckon Land Reg and Halifax will be down with Nationwide up a little.

Dan:_4

Brit is wrong yet again.

Here is an example of the Express ramping up property:

http://www.express.co.uk/posts/view/317563/House-prices-fall-again-and-this-time-even-London-is-suffering-

saverbuyer

christopher1977 wrote: »

must only be me that agrees with Brit:D

where i live (north west) prices have gone down substantially and I can't see anything to change it. I imagine prices will continue to decline.

I'm with Brit on this too. I'm in NI where prices have dropped 60% since 2007.

DRP

saverbuyer wrote: »

I'm with Brit on this too. I'm in NI where prices have dropped 60% since 2007.

that's the average price drop in NI ??!? :eek:

saverbuyer

DRP wrote: »

that's the average price drop in NI ??!? :eek:

Depending on the index between 50% and 60% off the average price. We were the second (or third) most expensive region after London in 2007. But as a region not that different from Wales, parts of Scotland and the North of England I would imagine.

saverbuyer

We had similar delusion as some of the posters on this thread. Local media called people mad when they said prices would fall. Everyone and their mother got into BTL. The fundamentals just didn't support the prices and they fell substantially. It was inevitable. Bubbles pop.