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MSE News: House prices fell in October, says Halifax

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  • brian_723
    brian_723 Posts: 337 Forumite
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    The problem is with the amount of people coming to the uk right now it is very hard for hosue sto fall much with interest rates and the current lows .the are people willing to pay good money just to rent a room .

    If i could get a mortgage ,which on my salary would need to be 4.5 my income which i am sure no lender will lend on despite the fact i have about 25% deposit .it is frustrating as i rent room right now and woul much rather own a house and rent the 2 spare rooms out when I want or need to .A good part of that income would be tax free also .I just want house to live in fall or go up not bothered but my life is on hold right now living in a room and getting very little for my money .
  • kathme
    kathme Posts: 1 Newbie
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    there is no house price fall in London. Rent a room in East London for £700 or try to buy. London is full of buy- to- renters. The price is also being put up by Europeans who want to have money out of Euros and who may or not pay UK taxes.
  • geoffky
    geoffky Posts: 6,835 Forumite
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    kathme wrote: »
    there is no house price fall in London. Rent a room in East London for £700 or try to buy. London is full of buy- to- renters. The price is also being put up by Europeans who want to have money out of Euros and who may or not pay UK taxes.

    London is not immune..look back at the last crash and see what happened to London...
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
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