Any other home buyers in NI?

motorguy

saverbuyer wrote: »

All are invest client companies.

All FDI.

I didnt say otherwise. I was commenting on you say that these were all 'call centre' entry level jobs.

They're not.

motorguy

saverbuyer wrote: »

You sound like an estate agent.

Remember, a house is only worth what someone is prepared to pay.

No, i sound like a realist.

If cheap housing is required in cities then dropping the price of a four bed detached 50 miles away out in the sticks isnt really going to help that is it?

motorguy

saverbuyer wrote: »

Remember, a house is only worth what someone is prepared to pay.

No. I dont agree.

I would say a big part of the problem at the moment is that the banks are asking for large deposits and are scrutinising peoples finances very tightly, therefore the amount of mortgage applications compared to acceptances is low.

On top of that you have the banks deliberately undervaluing houses to ensure they dont get 'caught' if prices drop further.

I would say a lot of people would be 'prepared to pay' prices that are out there, but cant.

Of course everyone on this forum thread is cash rich and sitting on £100K BUT i dont think thats very typical of what it looks like out there.

saverbuyer

motorguy wrote: »

I didnt say otherwise. I was commenting on you say that these were all 'call centre' entry level jobs.

They're not.

The vast majority are though.

Mistral001

Someone mentioned call centre jobs. I regularly scan the jobs market in NI and I find that there are very few call centre jobs advertised.

saverbuyer

motorguy wrote: »

No. I dont agree.

I would say a big part of the problem at the moment is that the banks are asking for large deposits and are scrutinising peoples finances very tightly, therefore the amount of mortgage applications compared to acceptances is low.

On top of that you have the banks deliberately undervaluing houses to ensure they dont get 'caught' if prices drop further.

I would say a lot of people would be 'prepared to pay' prices that are out there, but cant.

Of course everyone on this forum thread is cash rich and sitting on £100K BUT i dont think thats very typical of what it looks like out there.

How much lower a deposit do you want?

http://www.theprogressive.com/mortgages/variable-rate-mortgages/100047/054-above-the-standard-variable-rate-for-3-years-house-purchase-95-ltv

http://www.danskebank.co.uk/en-gb/Personal/mortgages/Residential-Mortgages/Pages/first-time-buyers-ni.aspx




Plenty of 95% deals out there. Do you want to bring back 100% mortgages?

I would say a lot of people would be 'prepared to pay' prices that are out there, but cant.

Then they can't pay. If a 5% deposit it too much for them, then they shouldn't be buying. They clearly can afford it.

saverbuyer

motorguy wrote: »

No, i sound like a realist.

If cheap housing is required in cities then dropping the price of a four bed detached 50 miles away out in the sticks isnt really going to help that is it?

But there are no jobs in the sticks. It's cheaper because the vast majority need to travel away from there to work. There's less land in the city, more demand.

It's only worth what someone else can and will pay.

saverbuyer

motorguy wrote: »

There are houses selling, there are developments opening up again and there are various developments "sold out". I quoted one a fortnight ago, but i guess the "the glass is half empty" brigade chose to ignore that.

To be honest I'm not sure if you can claim a "recovery" based on a couple of houses selling in CherryHill. I think they are selling them in twos as they build them.

tara747

motorguy wrote: »

Please dont start misquoting me and extracting words from a sentence to prove your point.

I said a variety of things brought 'stability to the economy'. I did not say any one in isolation, or even all of them together made a 'stable economy'.

Again, thats not what i said and you're mis quoting me.

Overspending is what i said - credit card debt, unsecured debt, bad banking decisions, property prices being allowed to spiral, poor banking constraints, etc, etc.

I did NOT say that overspending again was the answer - house prices going up does not necessarily equate to overspending.

Again, misquoting me - i said we were already competitive without the need to force house prices down further which clearly hasnt worked anyway.

You said: "dropping house prices has done nothing at all for the economy, where the confidence that even gently rising prices would bring could be beneficial overall."

Meaning that falling prices = bad and rising prices = good? Or have I misread what you wrote?

Oh and house prices going up does equate to overspending.

motorguy wrote: »

No. I dont agree.

I would say a big part of the problem at the moment is that the banks are asking for large deposits and are scrutinising peoples finances very tightly, therefore the amount of mortgage applications compared to acceptances is low.

On top of that you have the banks deliberately undervaluing houses to ensure they dont get 'caught' if prices drop further.

I would say a lot of people would be 'prepared to pay' prices that are out there, but cant.

Of course everyone on this forum thread is cash rich and sitting on £100K BUT i dont think thats very typical of what it looks like out there.

The banks are only doing what they should have done years ago i.e. sensible lending.

bingobangobongo

Anyone know anything about this company here?

http://www.negativeequityni.com/

What can they offer for those in negative equity??