Nationwide mortgage valuation on our home.. Worried!

Crashy_Time

sheff6107 wrote: »

"Glad I`m not shackled to a big mortgage debt in this climate"

What, with the lowest rates on record? People are falling over themselves to remortgage. It's one reason your crash hasn't happened - there aren't enough houses going on the market, holding up prices because everyone is staying put.

Doesn`t help those trying to get actual money for their house much though does it?

PField

Crashy_Time wrote: »

Doesn`t help those trying to get actual money for their house much though does it?

What doesn't help? Low interest rates certainly helps. It also helps people who already have a mortgage. People have managed to pay off their mortgages over the last 8-9 years and own their homes out right due low interest rates.
Low sales volumes? That doesn't help as it holds up prices.
Lower prices will help those looking to buy but not if that comes with higher interest rates and mortgage costs. MMR has made it harder for first time buyers.

There are always going to winners and losers. Sure some people don't want to be 'shackled with mortgage debt', and they are happy to rent. Nothing wrong with that either.

melissa1709

Thanks everyone for your replies.

I am definitley being silly worrying about something I have no control over. Valuation is tomorrow so hopefully we will hear back quickly!

I suppose one of my main concerns was the house a few doors down going for 20k less with a part ex sale. I've looked on land registry and it doesn't show as a 'standard sale'. It shows as repossession/buy to let/sale to non-private buyer. Hoping this is taken into account when the surveyor looks at comparables.