Bought a new build and may be price drops in neighbouring properties

HenryWeston

smugbear2007

Generali wrote: »

True. It amazes me that borrowers aren't going for a 25 year fix at the moment.

because everyone wants to keep up with the jones's and use that extra 200 quid a month to put a new car on the drive or buy a 50" plasma tv, !!!!!! to the long term security aspect.
besides the government would step in right?:rotfl: erm wrong, the government struggle to bloody give pensioners an extra 2 quid a week for their fuel bills so how anybody can think they can do something about the trillions borrowed defies belief.

i have sympathy for people who have bought houses to live in.
i have no sympathy for the BTL brigade, renovators who make a quick buck, people who get 125%mortgages.

ever thought of trying to sell stu? maybe worth a punt if you are that worried mate. you may stumble across somebody on their way out of the sales office

frugalista_2

Generali wrote: »

True. It amazes me that borrowers aren't going for a 25 year fix at the moment.

10 years is almost certainly plenty to put you beyond the negative equity danger zone. If I buy in the near future I am going for a 10 year fix.

Even with a 5-year fix you are pretty damn safe I reckon.

But quite a few people on mortgages with a short initial beneficial term are going to be hit by a whopping SVR at a point when they are still in negative equity. Especially newbuilds as these are often sold at a premium and fail to retain their market value.

frug.

Walter_J

The value of anything, be it a house or a bag of crisps, is what someone is prepared to pay for it. It is as simple as that... You paid the price you paid for your house because you were happy with the house and you were happy with the price. Therefore it was worth exactly what you paid. Nobody forced you to buy it. If you weren't happy with either the house or the price but bought it anyway then you're an idiot. The fact that months later no-one is prepared to pay the same price is totally irrelevent. Prices go down as well as up. It sounds like you've got a nice house and you can afford the payments. So stop whinging and get on with your life.

lazygoose

StuH wrote: »

We have bought a new build house from a small developer and we are first in to stay in the estate. We thought the estate would be popular and bought on the first day they went on sale 6 months ago. Valuation survey said the price we paid was just ok but was at top of the range. We have now just moved in and only 1 other house has been sold.

We are now expecting to see significant price drops on the other houses in the estate. We are really scared now that we have paid too much Can we do anything? Oh and we are in Scotland.

Any advice on what to do please?

Wow this thread has touched a nerve !

It's also brought out a lot of HPCrasher's

You say significant price drops in the area ?

would you give us a postcode. thanks.

poppy10_2

Back off-topic - naked Bruno!

http://www.youtube.com/watch?v=H4Yo84Cv0vc

PasturesNew

Nekkid ... where do you think his left hand is?

PasturesNew

He's obviously interested in keeping the value high on that quality bachelor pad he's sitting in.

franklee

Talking of new builds I'm puzzled by this:

http://www.rightmove.co.uk/viewdetails-5714004.rsp?pa_n=3&tr_t=buy

1. Why would anyone want to build flats that ugly?

2. Why sell them as a job lot?

3. Who would want to buy 98 ugly new build flats in Luton for £17,000,000

ixwood

lol at those flats. Someone's got their fingers burnt!!

What a sad muppet bruno is. Does he really believe prices are going to go up for ever?