Any other home buyers in NI?

qwert_yuiop

duggan1 wrote: »

Absolutely, so no big deal.

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

I don't think you'll need to. Look forward to getting the house you want for less and keep on saving.

motorguy

saverbuyer wrote: »

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

Your parameters changed quite quick there to suit your ends...

Originally it was

"If you have a decent deposit anything is possible.

Doesnt have a CCJ in the last twelve months"

Suddenly its all change to prove your point....

motorguy

qwert_yuiop wrote: »

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.

Yup. Totally proving my point - its got nothing to do with house values - its to do with the banks being "afraid" to lend money at the moment.

They've got burnt but they'lre coming back - as saverbuyer has already shown us - 5% mortgages are starting to appear again. :beer:

qwert_yuiop wrote: »

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?

Yup - assuming prices drop further - which they may not.

qwert_yuiop wrote: »

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".

Its a builder making money. Its a business. The right houses are selling - you can convince yourself that builders have started up again and are 'giving away' houses but thats not how it is.

saverbuyer

motorguy wrote: »

Your parameters changed quite quick there to suit your ends...

Originally it was

"If you have a decent deposit anything is possible.

Doesnt have a CCJ in the last twelve months"

Suddenly its all change to prove your point....

Not really, if the deposit was 70% I'm sure it's still possible.

Also, no disrespect to Duggan but it's not a saved deposit.

duggan1

saverbuyer wrote: »

Not really, if the deposit was 70% I'm sure it's still possible.

Also, no disrespect to Duggan but it's not a saved deposit.

You're right it isn't. It's one facet of a personal financial position that has changed dramatically over 2013 for various reasons.

I'm not particularly sore about the lack of options in the mortgage market, I expected none. I find it interesting though that a lender would be prepared to deal with me on the mainland, but not here. An indication perhaps of how financial institutions view the current situation here.

motorguy

duggan1 wrote: »

You're right it isn't. It's one facet of a personal financial position that has changed dramatically over 2013 for various reasons.

I'm not particularly sore about the lack of options in the mortgage market, I expected none. I find it interesting though that a lender would be prepared to deal with me on the mainland, but not here. An indication perhaps of how financial institutions view the current situation here.

Very true

And an indication that its not as cut and dried as one might be led to believe just by looking at mortgage deals available.

Clearly there is a fear among lenders generally, and moreso when it comes to good old NI.

motorguy

Well i'm glad with practical third party input we've established that

(a) banks have been 'holding back' on lending money, rather than it being exclusively because prices are too high (qwerty uiop post #321)

(b) the mortgage market has been bad but is improving with the introduction of 5% deposits again (saverbuyer post #267)

(c) prices are likely to rise because the market will be talked up by the media (waltsalt post #245)

(d) even though there is a perception that any new jobs are poorly paid call centre jobs, very few of jobs being advertised are actually in that sector (mistral001 post #266)

(e) theres improvement in the marketplace with regards to properties selling (saverbuyer post #285)

(f) the market is not stagnant - there have been around 70,000 house sales since 2007 (saverbuyer post #300)

(g) Although call centre jobs are perceived to be underpaid, 33% of new call centre jobs make more than the average wage for northern ireland (saverbuyer post #244)

qwert_yuiop

motorguy wrote: »

Well i'm glad with practical third party input we've established that

(a) banks have been 'holding back' on lending money, rather than it being exclusively because prices are too high (qwerty uiop post #321)

(b) the mortgage market has been bad but is improving with the introduction of 5% deposits again (saverbuyer post #267)

(c) prices are likely to rise because the market will be talked up by the media (waltsalt post #245)

(d) even though there is a perception that any new jobs are poorly paid call centre jobs, very few of jobs being advertised are actually in that sector (mistral001 post #266)

(e) theres improvement in the marketplace with regards to properties selling (saverbuyer post #285)

(f) the market is not stagnant - there have been around 70,000 house sales since 2007 (saverbuyer post #300)

(g) Although call centre jobs are perceived to be underpaid, 33% of new call centre jobs make more than the average wage for northern ireland (saverbuyer post #244)

Well, Paul , for someone who doesn't really care about house prices, (post 311) that was a lot of work.

qwert_yuiop

motorguy wrote: »

Yup. Totally proving my point - its got nothing to do with house values - its to do with the banks being "afraid" to lend money at the moment.

They've got burnt but they'lre coming back - as saverbuyer has already shown us - 5% mortgages are starting to appear again. :beer:



Yup - assuming prices drop further - which they may not.



Its a builder making money. Its a business. The right houses are selling - you can convince yourself that builders have started up again and are 'giving away' houses but thats not how it is.

Is it? Unless we know the numbers we don't know if anyone made any money there. More likely to have lost a lot.
Anyway, if the houses sold mortgages were provided? You tell us however houses are not selling because the banks won't lend. Which is correct?

motorguy

qwert_yuiop wrote: »

Well, Paul , for someone who doesn't really care about house prices, (post 311) that was a lot of work.

Took 10 minutes tops.

I would 'care' about house prices if i had any interest in either buying or selling any time soon. I dont.

Just bemused by some peoples responses on here.