Any other home buyers in NI?

saverbuyer

Also Duggan, is the deposit saved or gifted?

duggan1

saverbuyer wrote: »

What sort of salary multiple are you looking?

3-3.5x

I take it we're talking CCJ in the last 12months?

2011

Or payday lenders? Pretty much removes all lenders, but it's not because you live here.

Yes but not present on any credit report and irrelevant as the lenders didn't look at my finances in any greater detail due to location.

duggan1

saverbuyer wrote: »

Also Duggan, is the deposit saved or gifted?

Inherited.

I'm not arguing that most mainstream lenders wouldn't look twice as I'm not squeaky clean, in fact I'm not arguing at all as I'm not that bothered by it. I'll just wait until things look better for me.

The point is that UK lenders who would be prepared to offer me a product, don't offer those products to properties in Northern Ireland. If I've been buying in England, Wales and probably Scotland, I would have had options.

But it's all fine, was just injecting the comment that there are people keen to buy, but unable to for whatever reason.

motorguy

duggan1 wrote: »

Inherited.

I'm not arguing that most mainstream lenders wouldn't look twice as I'm not squeaky clean, in fact I'm not arguing at all as I'm not that bothered by it. I'll just wait until things look better for me.

The point is that UK lenders who would be prepared to offer me a product, don't offer those products to properties in Northern Ireland. If I've been buying in England, Wales and probably Scotland, I would have had options.

But it's all fine, was just injecting the comment that there are people keen to buy, but unable to for whatever reason.

And therein lies the problem.

A lot of people arent 'squeaky clean' (myself included) therefore these headline examples that saveybuyer is showing of 5% deposit etc, etc are largely irrelevant - people who "want" houses cant get the finance to buy them in northern ireland.

THEREFORE dropping the prices of houses isnt going to change things.

saverbuyer

duggan1 wrote: »

3-3.5x



2011



Yes but not present on any credit report and irrelevant as the lenders didn't look at my finances in any greater detail due to location.

Post on the main forum. A CCJ registered in 2011 will be tough no matter where you live. I know of bankrupts who have been able to buy with a 50% deposit so it's clearly possible.

If PDL aren't showing that's good but some lenders won't touch you.

saverbuyer

motorguy wrote: »

And therein lies the problem.

A lot of people arent 'squeaky clean' (myself included) therefore these headline examples that saveybuyer is showing of 5% deposit etc, etc are largely irrelevant - people who "want" houses cant get the finance to buy them in northern ireland.

THEREFORE dropping the prices of houses isnt going to change things.

Yes Paul, CCJ, gifted deposit and pay day loans. Typical credit profile of your average house buyer.

You are Fred Goodwin aren't you???

duggan1

saverbuyer wrote: »

Post on the main forum. A CCJ registered in 2011 will be tough no matter where you live. I know of bankrupts who have been able to buy with a 50% deposit so it's clearly possible.

If PDL aren't showing that's good but some lenders won't touch you.

Already been down that road, hence numerous brokers returning the same results;)

saverbuyer

duggan1 wrote: »

Already been down that road, hence numerous brokers returning the same results;)

Well best of luck. A couple of years, the Bad credit will fade and you'll get a mortgage with little difficultly.

duggan1

saverbuyer wrote: »

Well best of luck. A couple of years, the Bad credit will fade and you'll get a mortgage with little difficultly.

Absolutely, so no big deal.

2 years of talking down the local housing market I think...

qwert_yuiop

motorguy wrote: »

And therein lies the problem.

A lot of people arent 'squeaky clean' (myself included) therefore these headline examples that saveybuyer is showing of 5% deposit etc, etc are largely irrelevant - people who "want" houses cant get the finance to buy them in northern ireland.

THEREFORE dropping the prices of houses isnt going to change things.

Therefore nothing. The banks are there to make money for their shareholders. Having suffered a severe burning following the madness, they don't want it to happen again. Once they think they can make money off house buyers here again, they'll be back, so all we need is a further contraction, which is what we're getting.

Meanwhile the poster can continue to save and increase his deposit for the same sort of house at a lower price . Quids in all round - what's not to love?

I noticed those houses in Magheralin, too. Someone bought them so someone either has enough money saved or was able to get a mortgage. THEREFORE the prices must have been reasonable - that is, lower than what others thought their houses were "worth".