House Price Crash Discussion Thread

BACKFRMTHEEDGE

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...

To the poster. This is only your 2nd post, please ensure you get opinions from elsewhere.

jo-jo2210

BACKFRMTHEEDGE wrote: »

To the poster. This is only your 2nd post, please ensure you get opinions from elsewhere.

BACKFRMTHEEDGE

I feel there is a world of interpretation here...

Do you mean:

a) "go away why are you posting this stupid qu?"
b) "don't rely on opinions here, go see a mortgage advisor"?

We do have an appointment with a mortgage advisor next week, I just wondered what peoples experiences were with lenders regarding LTV.

BACKFRMTHEEDGE

Hi Jo Jo,

Sorry, what I meant was that there are a world of opinions on MSE and this thread reflects the views of only a tiny number of MSE users.
For example, someone who contributes regularly to this thread recently suggested that everyone should STR (sell to rent) without asking the poster anything about their individual circumstances - what their current interest rate was, where they lived, etc, etc. We are all entitled to our opinions and views but I think it's fair to say that amongst regular users of MSE they would not necessarily regard this thread as representative of the views of the majority. As a new poster you would not necessarily know this.
Indeed, there are many professional mortgage advisors on the mortgage & endowments board, for example, you might get different advice from them;).

m00m00

HammersFan wrote: »

This also shows that different regions behave very differently and blanket conclusions about growth / falls are a bit misleading.

It is a bit out of kilter with my experience of the derbys market - i bought two properties in city centre derby in Q4 2004 and sold them both last year at around 130% of their q4 2004 value (I dont think I bought them that cheap or sold them that expensive either). Notts has had a bad time in the press re: crime and BTL investors in student accomodation have been wiped out with the University building so much of its own stuff.

Maybe there's a lot going on in local markets that these trends don't pick up / or even mask?

I think basically we are both of the same view, that there is no 'national' or even 'regional' markets. Rather it's myriad tiny local markets, often as small as one or two streets. I am in Nottingham, which obviously colours my view of the East Midlands as a whole. (but not one of the bad areas, although close enough to them if I ever feel the need for a Chav safari)

Generali

jo-jo2210 wrote: »

BACKFRMTHEEDGE

I feel there is a world of interpretation here...

Do you mean:

a) "go away why are you posting this stupid qu?"
b) "don't rely on opinions here, go see a mortgage advisor"?

We do have an appointment with a mortgage advisor next week, I just wondered what peoples experiences were with lenders regarding LTV.

There's a mortgage board on MSE that is more likely to give you useful answers. There are a lot of mortgage advisors that really know their onions that post on there

pickledpink

Jo Jo,

The best advice you've received on this thread is to go look on the other forums of this site where they have PROFESSIONAL advisors who do not suffer from emotional issues and can offer you impartial, unprejudiced advice!:money:

On this HPC thread there's a handful of the SAME people who post more or less the same old stuff time and time again. They're trolls. Troublemakers. And just want to try and talk the market down so they can buy themselves!:rotfl:

We ALL read the papers, we all watch the news, and anyone can check out house prices on the Internet - these few trolls know nothing you don't already know. They just keep repeating themselves like parrots. Sounds like they're not very busy - which may account for their lack of personal funds.

Turnbull2000

chucky wrote: »

pickledpink - don't get dragged down to these peoples levels...

they will only turn around and accuse you of trolling or pick one sentence out of your post and try to hammer you just for that ignoring all the other comments you have made.

they even comment on spelling mistakes that's how much time they have on their hands.

just keep on posting, make your own comments and opinions and let them continue predicting doom and let them stock up on canned food and water for when the recession hits!! ;-)

people must realise that the housing market has moved upwards in the past years (we're talking over 75% for most people), a 2.5% fall of a reduce volume of sales in a month isn't the most accurate indicator at all.

in the overall scheme of things a 2.5% fall isn't a huge amount after all the increases in the past...

And that's why you shouldn't get wound up by house price crash hopefulls. 200% gaines one decade, 40% lost the next. Swings and roundabouts.

I'm not defending carolt here, but many of those who've 'lost' from HPI have been labelled as failures, landlord fodder and deluded over the years on this forum and many others.

pickledtink

PasturesNew wrote: »

This is the housing board.

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

* hug* :kisses3:

carolt

pickledpink wrote: »

CarolT

In nearly all of your posts you come across as a miserable, nasty, embittered woman. Why are you so rude to everyone?

You lurk around this forum like some weird ghoul - you've NEVER owned your own home - and chances are you never will. You despise anyone who has equity in their homes, and you're jealous as hell!

You're so jealous in fact, that you wish all people will lose thousands and thousands of money off their homes - just so you can get some kind of warped satisfaction! If seeing families with children struggle, and possibly become homeless, a form of entertainment then you're sicker than you seem!

You seem to gloat at people's losses, and you must have an awful lot of issues with yourself if you only get satisfaction out of watching people lose their homes. What else d'you do for entertainment? Watch car crashes?!

I think you're a VILE person - and rude to boot! You should be reported.

Whereas you come across as a lovely person, and not remotely rude.

I have thought about reporting you for some of your most offensive posts, but would I? No, of course not - because unlike you I firmly believe in free speech.

I do not read or post on any of house price crash sites; my information comes only from the major national broadsheets and the BBC (and the Economist, occasionally). I have no wish for house prices to fall per se; I do have a wish for houses to become affordable again to ordinary people like myself. Large wage inflation would suit me just as well, but unfortunately I think the chances of that happening are somewhat less likely than the chance of house prices falling, at least if all the current stories in the media are to be believed. I am happy to hear that places are 2.5% nearer my grasp than last month - is this site not all about getting things cheaper? I have no wish for anyone to lose their homes, or lose thousands and thousands of pounds off them , as you claim; to the vast, vast ,vast majority of people these gains are entirely paper gains. The only people for whom 2.5% means any real loss is those who bought very, very recently.

If you have some facts to support an alternative hypothesis to mine - namely that house prices are going to rise or at least stagnate, then PLEASE do post them; I for one would love to hear all sides of the story. As a potential FTB, I don't want to make a mistake I would later regret and miss a good opportunity to buy, if that is what it is.

I personally believe, on the basis of the available evidence, that it is one of the WORST times ever to buy; but I may be wrong. I post articles from the daily news with links, elsewhere on the forum, so that the points in them can genuinely be open for discussion.

I'm afraid, pickledpink, that however much you dislike me personally - and you are welcome to your opinion; I couldn't care less one way or the other - you don't exactly come across as my type of person either, if truth be told - your opinion of me is irrelevant.

Your opinion on house prices, with facts to support them, is however, highly relevant.

We all look forward to more posts from you in the future on the subject of house prices. Given the number of personal attacks I've had on this thread, maybe it would be easier if I just started a 'reasons why I hate carolt' thread elsewhere, so they can stop cluttering up the main thread?

Now back to business..........

Have a great day, everyone....

carolt

HammersFan wrote: »

http://www.guardian.co.uk/money/2008/apr/08/houseprices.property1

Regional breakdown of the Halifax survey. Doesnt look like a full on crash to me (of course I am wrong, and will get some insulting remarks telling me how stupid I am simply because I am not cheerleading a crash).

Could it be that the regions that saw big growth are just levelling out with the regions that saw the most steady growth? Its just a theory. I live in East Mids where growth has been around 4-6% for the last few years and that looks like its carrying on.

The figures also show how its possible to over-claim from a headline finding - like I could say that if this continues house price growth in the East Mids would be 25% this year, so best get in there now (of course, I wouldn't conclude or advise that, but this type of over-interpretation in the reverse direction seems pretty common on here).

(Puts on tin hat to deflect dogmatic and patronising replies from people who believe they can predict the future with 100% certainty).

Don't do yourself down! Tin hat not required......

Absolutely agree with your opinions about local versus national markets, and the dangers of projecting from one month's figures.

So, how do you see it panning out- in your neck of the woods, or nationally?