Halifax turns clock back to 60s

SouthCoast

Significant as from the information that I can find HBOS has around 20% of the market.

http://www.cml.org.uk/cml/statistics

IveSeenTheLight

PasturesNew wrote: »

Why shouldn't people on lower pay consider a house? If the multiple's OK then why not?

For somebody with this income renting can cost the same. And you have to keep moving. You can't move all your life. It gets harder the older you get.

I randomly picked Norwich and went to Rightmove. I have no knowledge of the area whatsoever.

2-bed flat. £58k: http://www.rightmove.co.uk/viewdetails-10200012.rsp?pa_n=1&tr_t=buy

Borrowing £52k, a monthly repayment mortgage at 6% over 25 years is just £338/month (or £370/month over 20 years)

Or you can rent the cheapest 1-bed flat for £375/month
http://www.rightmove.co.uk/viewdetails-21008879.rsp?pa_n=4&tr_t=rent

I am just saying that in some areas it is possible and not ridiculous to consider.

Good Post, shows that in some areas, even though we are / were at the top of the cycle, that it costs more to rent than to buy.
I'm not saying this is the case everywhere, but it is possible

LilacPixie

I personally hate the idea that to get a mortgage with a certain company/provider you have to bank with them as well. I guess its because I like to get the best deal possible and no doubt to get the best deal for one thing you will be shafted on another.

JUst as an example

http://www.tspc.co.uk/x89691-1-bedroom-Flat-for-sale-in-Dundee---DD3-7SR

And for rent in the next block

http://www.tspc.co.uk/x89559-1-bedroom-Flat-for-sale-in-Dundee---



thoe flats are on the main road into the city centre. not exactly idea place to raise a family but for a single girl/guy intent on living the single life then

LilacPixie

I personally hate the idea that to get a mortgage with a certain company/provider you have to bank with them as well. I guess its because I like to get the best deal possible and no doubt to get the best deal for one thing you will be shafted on another. I hate feeling i'm losing out.

Just as an example

http://www.tspc.co.uk/x89691-1-bedroom-Flat-for-sale-in-Dundee---DD3-7SR

And for rent in the next block

http://www.tspc.co.uk/x89559-1-bedroom-Flat-for-sale-in-Dundee---



thoe flats are on the main road into the city centre. not exactly idea place to raise a family but for a single girl/guy intent on living the single life then

elgar_2

those flats in sunny Dundee would still be out my league, given need for 10% deposit etc etc...anyways as I now work in Perth...Im considering SO there..bit better than renting where I am at minute, which is cheap but not ideal!!

E