Cheeky offer

Sarah1Mitty2

RelievedSheff said:

Sarah1Mitty2 said:

Martico said:

Oh dear, I hate myself for entering this kind of thread, but it's late and here I am. At the risk of sounding retrospectively smug, I bought at what was considered at the time the peak of a crazy market in London in 2003, and again at what was considered at the time the peak of a crazy market in Bristol in 2016. Did my calcs, reckoned I could handle the mortgage for my few years fixed term. Turned out I had nothing to worry about, I lucked out, I hadn't bought at the peak. But would still have been OK even with a dip. I'd have been able to service the debt.
Lesson: if it's right for you at the time, just do it. Make sure you can service your debt and you'll be paying down the initial capital whatever happens.
I accept that it's uncertain at the moment, but when hasn't it been? 
I also accept that I've been lucky.
You can't time the market.
For a multitude of reasons, the housing market has at times adhered to and at times defied the norms of supply/demand economics.
Do your sums to ensure you can service your mortgage, do your best to increase your earning power, and that debt should just deflate away, at the same time as your initial capital gets chipped away by the monthly payments

You won`t make much of a dent on the capital until you are well into the loan and the problem now is that with rising mortgage rates people just can`t afford the monthly payments anymore, nothing like the two time periods you mention where in one property was much cheaper and in the other interest rates were at near zero.

Yet tens of thousands of people every month continue to take out mortgages and buy their own home.

Are you saying they can not afford it? Their lenders clearly disagree with you.

Doesn't really fit with your agenda that though does it?

Your one man (with many accounts) attempt to talk down house prices is really getting abit boring now.

(And sorry to disappoint, but for someone with a repayment mortgage, every payment they make reduces the amount they owe)

That number has dropped significantly recently, but I get it, you borrowed money for a house four years ago and you are not yet fully aligned with the idea of a house being a home whatever value the market gives it, I understand why you are twitchy and post these mildly abrasive posts, it will be OK, things will work out in your direction.

YoungBlueEyes

Maybe "discussing ways to get discounts" could go on it's own thread.

RelievedSheff

Sarah1Mitty2 said:

RelievedSheff said:

Sarah1Mitty2 said:

Martico said:

Oh dear, I hate myself for entering this kind of thread, but it's late and here I am. At the risk of sounding retrospectively smug, I bought at what was considered at the time the peak of a crazy market in London in 2003, and again at what was considered at the time the peak of a crazy market in Bristol in 2016. Did my calcs, reckoned I could handle the mortgage for my few years fixed term. Turned out I had nothing to worry about, I lucked out, I hadn't bought at the peak. But would still have been OK even with a dip. I'd have been able to service the debt.
Lesson: if it's right for you at the time, just do it. Make sure you can service your debt and you'll be paying down the initial capital whatever happens.
I accept that it's uncertain at the moment, but when hasn't it been? 
I also accept that I've been lucky.
You can't time the market.
For a multitude of reasons, the housing market has at times adhered to and at times defied the norms of supply/demand economics.
Do your sums to ensure you can service your mortgage, do your best to increase your earning power, and that debt should just deflate away, at the same time as your initial capital gets chipped away by the monthly payments

You won`t make much of a dent on the capital until you are well into the loan and the problem now is that with rising mortgage rates people just can`t afford the monthly payments anymore, nothing like the two time periods you mention where in one property was much cheaper and in the other interest rates were at near zero.

Yet tens of thousands of people every month continue to take out mortgages and buy their own home.

Are you saying they can not afford it? Their lenders clearly disagree with you.

Doesn't really fit with your agenda that though does it?

Your one man (with many accounts) attempt to talk down house prices is really getting abit boring now.

(And sorry to disappoint, but for someone with a repayment mortgage, every payment they make reduces the amount they owe)

That number has dropped significantly recently, but I get it, you borrowed money for a house four years ago and you are not yet fully aligned with the idea of a house being a home whatever value the market gives it, I understand why you are twitchy and post these mildly abrasive posts, it will be OK, things will work out in your direction.

I'm not sure you do get it.

Our house is our home. We have no intention of moving from this house and it would take something very special for us to consider moving again. 

It's value is largely irrelevant. It is first and foremost our home. In just over 10 years time we will be mortgage free. Every monthly repayment we make takes us a shy under £1k closer to that mortgage end date and mortgage freedom.

We are far from the only people to be in this situation.

Sarah1Mitty2

RelievedSheff said:

Sarah1Mitty2 said:

RelievedSheff said:

Sarah1Mitty2 said:

RelievedSheff said:

Sarah1Mitty2 said:

Martico said:

Oh dear, I hate myself for entering this kind of thread, but it's late and here I am. At the risk of sounding retrospectively smug, I bought at what was considered at the time the peak of a crazy market in London in 2003, and again at what was considered at the time the peak of a crazy market in Bristol in 2016. Did my calcs, reckoned I could handle the mortgage for my few years fixed term. Turned out I had nothing to worry about, I lucked out, I hadn't bought at the peak. But would still have been OK even with a dip. I'd have been able to service the debt.
Lesson: if it's right for you at the time, just do it. Make sure you can service your debt and you'll be paying down the initial capital whatever happens.
I accept that it's uncertain at the moment, but when hasn't it been? 
I also accept that I've been lucky.
You can't time the market.
For a multitude of reasons, the housing market has at times adhered to and at times defied the norms of supply/demand economics.
Do your sums to ensure you can service your mortgage, do your best to increase your earning power, and that debt should just deflate away, at the same time as your initial capital gets chipped away by the monthly payments

You won`t make much of a dent on the capital until you are well into the loan and the problem now is that with rising mortgage rates people just can`t afford the monthly payments anymore, nothing like the two time periods you mention where in one property was much cheaper and in the other interest rates were at near zero.

Yet tens of thousands of people every month continue to take out mortgages and buy their own home.

Are you saying they can not afford it? Their lenders clearly disagree with you.

Doesn't really fit with your agenda that though does it?

Your one man (with many accounts) attempt to talk down house prices is really getting abit boring now.

(And sorry to disappoint, but for someone with a repayment mortgage, every payment they make reduces the amount they owe)

That number has dropped significantly recently, but I get it, you borrowed money for a house four years ago and you are not yet fully aligned with the idea of a house being a home whatever value the market gives it, I understand why you are twitchy and post these mildly abrasive posts, it will be OK, things will work out in your direction.

I'm not sure you do get it.

Our house is our home. We have no intention of moving from this house and it would take something very special for us to consider moving again. 

It's value is largely irrelevant. It is first and foremost our home. In just over 10 years time we will be mortgage free. Every monthly repayment we make takes us a shy under £1k closer to that mortgage end date and mortgage freedom.

We are far from the only people to be in this situation.

But the thread isn`t about you, it is about someone who thinks a house seller is asking too much wanting a discount.

I answered your question which was aimed directly at me as your post quoted mine.

Let me remind you what you wrote:

"That number has dropped significantly recently, but I get it, you borrowed money for a house four years ago and you are not yet fully aligned with the idea of a house being a home whatever value the market gives it, I understand why you are twitchy and post these mildly abrasive posts, it will be OK, things will work out in your direction."

So how was that in any way aimed at, or helpful to the OP? Or in anyway on topic?

Because if significantly less people are taking on mortgage debt houses get harder to sell and the OP is totally right to make lower offers ( "cheeky" needs to be re-framed as "sensible", it is the seller who is cheeky for refusing to accept the market changes) and I am telling them to beware of people online with large recent mortgage debt telling them to do what they did, that is not "money saving" or a sensible approach to a changing market.