House Price Crash Discussion Thread

dudleyboy

carolt wrote: »

Personally, I woke up yesterday to a gorgeous sunny spring day and the news that the houses I wanted to buy had just got about 8 grand nearer my grasp. Not bad - 8 grand saved and not a stroke of work did I have to do to get there. A very mse kind of day, in fact.

So it put a little spring in my step, shall we say?......

And a great day to you too.....

It sounds like we had a very similar day, yesterday, carolt. In March I made almost £9,000 profit from the property market by doing absolutely nothing. Fantastic! I mean, that is how it works, isn't it?!

I'm beginning to like this house price lark! I think tomorrow I'll go and buy a new car and a fur coat to celebrate my new found wealth.

Mr._H_2

jo-jo2210 wrote: »

Fortunately, we were able to put down a 10% deposit.

My question is, does anyone know how strict lenders are about the 80% LTV. I think that we are look at 82% LTV...

There are still plenty of lenders who will go over 80% LTV, it's just that the higher you go over 80% LTV, the higher your rate will be.

As Carolt says, the quicker you get your new mortgage deal, the better.

carolt

dudleyboy wrote: »

It sounds like we had a very similar day, yesterday, carolt. In March I made almost £9,000 profit from the property market by doing absolutely nothing. Fantastic! I mean, that is how it works, isn't it?!

I'm beginning to like this house price lark! I think tomorrow I'll go and buy a new car and a fur coat to celebrate my new found wealth.

Now, now.. before we both get shouted at, I'd like to point out that I made £0 profit, but did save £8000 on a potential purchase.

Not quite as good - but not bad, all the same....

PasturesNew

BACKFRMTHEEDGE wrote: »

This is also rude and I've seen people get chucked off MSE for less. If you have such a strong point to make why can't you make it with politeness?

Everyone is entitled to their opinion. They don't have to agree with you and someone will complain about you soon.

This is the housing board.

As a rule of thumb, there are no group hugs and no prisoners taken.

Stevenic

PasturesNew wrote: »

This is the housing board.

As a rule of thumb, there are no group hugs and no prisoners taken.

Yeah, I'm so waiting for the compassionate comments on here when some poor soul who's partner has been made redundant or is unable to work asks a simple question about house prices and then gets jumped on for being so stupid in actually buying a home :rolleyes:

Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.

This doesn't apply here either :rolleyes:

Dan:_4

jo-jo2210 wrote: »

Hi

My hubby & I are one of those coming off a fixed 2 yr term this summer!!! I knew before it was in the news that we could well be face a hike.

Fortunately, we were able to put down a 10% deposit.

My question is, does anyone know how strict lenders are about the 80% LTV. I think that we are look at 82% LTV...

The summer is not too far way, so you should be able to secure a new deal now.

I suggest you post this on the Mortgages & Endowments page as there are many mortgage advisors who can offer you some sound advice. If you hang around here people will be advising you to sell your home.

Dan:_4

carolt wrote: »

Personally, I woke up yesterday to a gorgeous sunny spring day and the news that the houses I wanted to buy had just got about 8 grand nearer my grasp. Not bad - 8 grand saved and not a stroke of work did I have to do to get there. A very mse kind of day, in fact.

Nice one, its amazing what can happen over night - Dont spend it all at once!

merlinthehappypig

carolt wrote: »

Now, now.. before we both get shouted at, I'd like to point out that I made £0 profit, but did save £8000 on a potential purchase.

Not quite as good - but not bad, all the same....

And for anyone who needs a mortgage, which is most of us, it's actually £8000 off the mortgage, so you can double that figure at least over the term.

That's how we are viewing it.

carolt

Dan: wrote: »

If you hang around here people will be advising you to sell your home.

Why would we do that?

The lady didn't want advice on selling home. She wanted advice on remortgaging.

Why, were you going to tell her to sell her home?

What a strange, irrelevant piece of advice.

carolt

merlinthehappypig wrote: »

And for anyone who needs a mortgage, which is most of us, it's actually £8000 off the mortgage, so you can double that figure at least over the term.

That's how we are viewing it.

Absolutely. By the time you add in all the interest you'd be paying on it...it all adds up.

Well, as I said, all very moneysaving.