House Market Stalling?

Conrad

grizzly1911 wrote: »

What full of cowboys and bandits?

Isn't that what fired the last set of problems?

Not really, the UK had a very ordered market with very low delinquency.


Some excess was present such as the 125% mortgage, but note we had 100% mortgages all the way through my career with no particular delinquency issues.


The villain known as self cert showed low delinquency rates which is down to people generally inputting a large chunk of hurt money (deposit).


The issue was not uk lending per see, but the incorrect packaging up of it and selling on to investors coupled with the over reliance on funding from the US.




The lender I cite above is old and established, you couldn't get a more competent switched on set of people, they know exactly what they're doing.


Their clients have to input a big old chunk of hurt money, and experience has shown these clients rarely make mistakes - no one in their right mind risks a chunk of money that may have taken much sweat to earn.

MrRee_2

Hurt money ..... is that Estate Agent speak for money at risk?

Loughton_Monkey

Conrad wrote: »

BTW - if anyone is interested I now have a great little private lender on board for 1 man band developers lending up to 60% no questions asked, money available in a week. They charge around 0.8% per month - short term development finance. Do not lend in the north.
It's like the old days!

Conrad wrote: »

....The lender I cite above is old and established, you couldn't get a more competent switched on set of people, they know exactly what they're doing.

All very interesting, although I note a hint of contradiction there.....

Next time you speak to him, perhaps you could just pass on a tiny hint or two from Loughton Monkey. Tell him he should ask a few questions. A couple of recommended ones would be....

• Does the property exist?
• Is the identity of the mortgage applicant real or fake?

kmmr

Mrs_Z wrote: »

Interesting thoughts from the OP, this is what I have been wondering too. We've been looking from spring last year and the market just went crazy with prices shooting up. Now I'm receiving loads of property particulars from EA's asking if we'd be interested to view. Nice properties which are reasonably priced tend to sell quickly but there are certainly few sellers out there thinking they can get £££'s and some for theirs..... Well, it's a waiting game for us....

I get the daily rightmove updates for my local area, and there seems to be a lot more properties coming up. I'm in West London, and I think people have seen a massive jump last year, and are starting to think about cashing in on the equity.

I certainly am...

AndyGuil

kmmr wrote: »

I get the daily rightmove updates for my local area, and there seems to be a lot more properties coming up. I'm in West London, and I think people have seen a massive jump last year, and are starting to think about cashing in on the equity.

I certainly am...

There are always more properties coming on to the market after the new year. Going into winter causes a slow down.

michaels

Conrad wrote: »

From the front line;


It's fair to say I cannot recall having so many enquires as I've had this year thus far.
Most properties are attracting several offering parties and bidding wars are now the norm.
I'm on the outskirts of London.


BTW - if anyone is interested I now have a great little private lender on board for 1 man band developers lending up to 60% no questions asked, money available in a week. They charge around 0.8% per month - short term development finance. Do not lend in the north.
It's like the old days!!
Sorry this sounds like spam, mot my style at all, it's just I wanted to get across what a wild west market it is again in some respects.

11% pa ouch - cheaper to finance my project on credit cards....

Tancred

It's always quiet in the Winter months. I don't see any evidence of falling demand.

MrRee_2

Plenty of REDUCED Prices now being seen.

shortchanged_2

Has someone hacked into your account MrRee?

MrRee_2

I know!

Of course places are getting sold by the 100's now ..... but, I'm noticing a marked slowdown along the South coast.