Mortgage Lending Rising Again

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

If houses are selling in Haringey then clearly they are priced realistically, whether or not you can afford to buy there is beside the point.

Clearly rent in Haringey is quite expensive, how much do you stand to lose by holding out on the market?

don't think many houses are shifting in haringey
no one can afford to buy them and yields are too low for buy to let at these prices
rent is £900 a month all in
are you implying i should buy now to save £5k or so on rent?

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

don't think many houses are shifting in haringey
no one can afford to buy them and yields are too low for buy to let at these prices
rent is £900 a month all in
are you implying i should buy now to save £5k or so on rent?

£7200 in rent, if buying in April, plus 9months later paying the mortgage off, you're waiting for 2012 prices, could you not buy 2yrs ago?

Bubble_and_Squeak

Joeskeppi wrote: »

We had a thread about Haringey this year.

https://forums.moneysavingexpert.com/discussion/4928110

ta
the posts about tottenham were written around the same time i got priced out

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

£7200 in rent, if buying in April, plus 9months later paying the mortgage off, you're waiting for 2012 prices, could you not buy 2yrs ago?

even if prices don't fall to 2012 levels i'm confident that they'll be more than £10k lower than today
will try my luck with a few cheeky offers along the way but will buy what i can within my budget before april regardless of what the market is doing (unless there is something big going down like a nuclear war)
yes, i should have bought two years ago when the tories were cooking up their silly schemes but such is life
you live and learn!

ukcarper

Bubble_and_Squeak wrote: »

even if prices don't fall to 2012 levels i'm confident that they'll be more than £10k lower than today
will try my luck with a few cheeky offers along the way but will buy what i can within my budget before april regardless of what the market is doing (unless there is something big going down like a nuclear war)
yes, i should have bought two years ago when the tories were cooking up their silly schemes but such is life
you live and learn!

Not sure about 2012 prices but I think you have a very good chance of being right about £10k less just don't hold out for to big a drop.

Bubble_and_Squeak

ukcarper wrote: »

Not sure about 2012 prices but I think you have a very good chance of being right about £10k less just don't hold out for to big a drop.

all things being equal i think prices would continue to fall beyond april but the capital gains tax thing and pension changes change the game

Jack_Johnson_the_acorn

Bubble_and_Squeak wrote: »

even if prices don't fall to 2012 levels i'm confident that they'll be more than £10k lower than today
will try my luck with a few cheeky offers along the way but will buy what i can within my budget before april regardless of what the market is doing (unless there is something big going down like a nuclear war)
yes, i should have bought two years ago when the tories were cooking up their silly schemes but such is life
you live and learn!

But you're holding out for a crash like I assume you where in 2012.... Surely that's the opposite to live and learn. I hope you're right about prices for your sake otherwise it could end up very costly

wotsthat

Bubble_and_Squeak wrote: »

don't think many houses are shifting in haringey
no one can afford to buy them and yields are too low for buy to let at these prices
rent is £900 a month all in
are you implying i should buy now to save £5k or so on rent?

I'd have a spreadsheet to monitor my time in the game which would enable me to easily see the current gain/ loss. Real numbers - rent, land reg, equivalent mortgage, realistic opportunity loss on deposit etc - not just Mickey Mouse numbers.

Crashy never did this even though MS Office was available on that new fangled Windows 95 operating system that came out towards the end of the last millennium. He didn't have the first clue, until he came here, just how much money and time in ropey digs he's invested in project crash. Don't be that guy.

wotsthat

Bubble_and_Squeak wrote: »

all things being equal i think prices would continue to fall beyond april but the capital gains tax thing and pension changes change the game

So even though you were a potential buyer in March 2014 a little excitement on Rightmove and you're already talking about April 2015 as the earliest entry point. The danger signs are there.

Bubble_and_Squeak

Jack_Johnson_the_acorn wrote: »

But you're holding out for a crash like I assume you where in 2012.... Surely that's the opposite to live and learn. I hope you're right about prices for your sake otherwise it could end up very costly

i'm not holding out for a crash
i was trying to buy earlier this year but gave up in april as houses were selling for ridiculous prices. there were queues to get in to the open day viewings. it was a sellers market.
well meaning friends and family were saying "oh, you have to buy now, they'll just keep going up and you'll never be able to buy"
i had heard these words before, as a child in 1987, and again as a young adult in 2007.
i know, i know its different this time...