The homeowners who cannot move home

shortchanged_2

jules888 wrote: »

We have no mortgage and not in negative equity,have savings to buy another house but cant sell ours.Two viewers and one very low offer!

Well I would hope you are not in negative equity if you have no mortgage!

Have you considered the possibility that your house is overpriced?

Just a thought.

brit1234

HAMISH_MCTAVISH wrote: »

No, you're making stuff up again.

Hamish are you still saying things are all ok in the housing market and prices are rising?

Or have you come to the opinion that things are getting worse?

crash123

jules888 wrote: »

We have no mortgage and not in negative equity,have savings to buy another house but cant sell ours.Two viewers and one very low offer!

When we got my parents house valued the estate agent said that if the property is on the market for over 3 months it is overpriced.

vivatifosi

Thrugelmir wrote: »

With regards to those with repayment vehicles. Standard Life estimate that of 104,000 endowment policyholders that are due to mature in the next 10 years. Around 100,000 will have shortfalls on their policies.

I have one of those. It hasn't been attached to a mortgage for years though. I suspect there are quite a few others in the same situation as me. We started getting the red letters years ago - can't remember how many but possibly more than 10 - and started planning accordingly then. I can't imagine that many people have shortfalls uncovered and if they have, then in many respects it serves them right - they've stuck their fingers in their ears and sung La La La La La through good times as well as bad.

Thrugelmir

vivatifosi wrote: »

I can't imagine that many people have shortfalls uncovered and if they have, then in many respects it serves them right

Never ceases to surprise me that those you think should be able to manage their finances well. Are in fact the worst at doing so. If anything become careless with their money and have no contingency plans for a rainy day.

Loughton_Monkey

jules888 wrote: »

We have no mortgage and not in negative equity,have savings to buy another house but cant sell ours.Two viewers and one very low offer!

Ha! Just seen this.

With no mortgage, it's impossible to be in negative equity isn't it? Unless the house has a negative value.

Loughton_Monkey

crash123 wrote: »

When we got my parents house valued the estate agent said that if the property is on the market for over 3 months it is overpriced.

Estate Agents talk with forked tongue. Let me re-phrase what he actually meant:

To save costs and make a good profit, we like to sell a house within 3 months. In today's slowed-down market, we can only do this if it is underpriced.

crash123

Loughton_Monkey wrote: »

Estate Agents talk with forked tongue. Let me re-phrase what he actually meant:

To save costs and make a good profit, we like to sell a house within 3 months. In today's slowed-down market, we can only do this if it is underpriced.

I don`t think so as he knew he probably would not be getting an instruction as a member of the family had made an offer which is now going through. He got nothing out of this and he was there for an hour. Free Valuation.
I also did my own research. The agent had a property for sale across the road which had been on the market for a year and 4 months,so overpriced.

He also gave us lots of info on average asking price and selling price for our area.

ILW

Thrugelmir wrote: »

Never ceases to surprise me that those you think should be able to manage their finances well. Are in fact the worst at doing so. If anything become careless with their money and have no contingency plans for a rainy day.

That's how BoE etc want us to behave.
The main contingency for a rainy day is savings.
BoE have decided to let inflation destroy any savings whilst setting interest rates at a level where it is a mugs game.
Meanwhile get yourself up to the eyeballs in debt and the powers to be will work out a way of bailing you out.
Seems all a bit topsy turvy to me.

homelessskilledworker

ILW wrote: »

That's how BoE etc want us to behave.
The main contingency for a rainy day is savings.
BoE have decided to let inflation destroy any savings whilst setting interest rates at a level where it is a mugs game.
Meanwhile get yourself up to the eyeballs in debt and the powers to be will work out a way of bailing you out.
Seems all a bit topsy turvy to me.

This is my biggest worry, saving these days is a dirty word. I am a little less worried given recent events though, I really thought at one point that this Government or any other woud try and inflate their way out of the debt crisis we are in, I think there is now evidence that is not the case now.
Say what you want about the BOE, but when it comes to inflation they have done a cracking job in the last 15 years.