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Sellers acting with more savvy?
Comments
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I think what drives people is the dream of owning their own house: They have shown that they will borrow stupid sums to get one.
However, I don't think it follows that they will borrow as much as they possibly can to get the absolute 'best' property they possibly can.
And in any case, it will become much, much harder to borrow in the near future.
Believe me, people are still out there 'chasing their dream'.....
Prices fluctuating isn't going to change that.
What will change the market will be if the Buy to Let investors start bailing out - this will then inrease the amount of properties on the market.
Having said that, I can't see them bailing out yet if BoEngland rates fall further as expected next year.
A crash will not happen. Why do I think so? Well I've been an adviser for over 12 years and underwritten millions of pounds worth of mortgages for high street lenders.
And those lenders are amending their lending figures as we speak to encourage more borrowing. That, is a fact...you could borrow more now (with a clear credit history) than you could 2 weeks ago.
:A Born a Saint, always a Saint!I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
trulysaintly wrote: ».
A crash will not happen. Why do I think so? Well I've been an adviser for over 12 years and underwritten millions of pounds worth of mortgages for high street lenders.
And those lenders are amending their lending figures as we speak to encourage more borrowing. That, is a fact...you could borrow more now (with a clear credit history) than you could 2 weeks ago.
Its funny looking back at some of these older posts and seeing just how wrong people could be!
Its so called mortgage advisers like in this last post that 'advised' people to borrow money they cant afford to pay back and thats what got the country in this mess.
Guess he's already eating his words0 -
He gave up wasting his words in August...trulysaintly wrote: »Recently all I have experienced is certain individuals with NO experience of buying or selling, who plainly talk out of their rear ends and abuse others because they disagree with people, I am not going to post anymore on this forum.
So you can all talk yourselves into suicide over life and wallow in self pity - which on the whole is all you deserve.
Adieu
Who was talking out of his rear end, in the end?0
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