Crash cancelled

mystic_trev

Think this might interest you. I just adore this place!

http://www.azores.com/realestate/listing.php?id=165#magnify

neilsc99

MrDT wrote: »

hoping it had increased in value and the bigger place you'd be moving to hadn't increased in value. right?

or were you hoping to spend more than you had to bridging the wider gap? :wall:

we want to move out from the greater london area so the price of houses where we are looking to move to are not high compared to London prices, at the moment a 2 bed flat is around 180K on our estate and a 2 bed house where we are looking is 220K but a 2 bed house in our current area is 250K

Conrad

Broderick

1 year ago there were many sub prime lenders, that catered for a big proportion of home buyers. Now only 1 lender, First National remain fully active in this market, with most of the others having shut down, and the few remaining just lending very small amounts. Kensigton still lend but just small ad hoc trnaches of funds that are used up in a matter of hours, but most of each month they lend nowt.

You shoud'nt make the mistake of thinking these were niche lenders, that only lent to those with appauling credit, oh no, they were there for those who had a minor credit blip, the self employed, the multi home owner, the older borrower, those with complex situations etc.

And what of those lenders still active?
Well, they have tightened criteria and reduced loan to values. New build lending is toxic, 100% gone (N Rocks 125% together mortgage was responsible for more than a tenth of all mortgage lending).

So thats millions of people now unable to buy a home and lending at least 40% down.

Prices are merely a function of the money supply. Seeverly restrict that supply and prices have to fall to a point of equilibrium in line with said money supply.

mr.broderick

Conrad wrote: »

Broderick

1 year ago there were many sub prime lenders, that catered for a big proportion of home buyers. Now only 1 lender, First National remain fully active in this market, with most of the others having shut down, and the few remaining just lending very small amounts. Kensigton still lend but just small ad hoc trnaches of funds that are used up in a matter of hours, but most of each month they lend nowt.

You shoud'nt make the mistake of thinking these were niche lenders, that only lent to those with appauling credit, oh no, they were there for those who had a minor credit blip, the self employed, the multi home owner, the older borrower, those with complex situations etc.

And what of those lenders still active?
Well, they have tightened criteria and reduced loan to values. New build lending is toxic, 100% gone (N Rocks 125% together mortgage was responsible for more than a tenth of all mortgage lending).

So thats millions of people now unable to buy a home and lending at least 40% down.

Prices are merely a function of the money supply. Seeverly restrict that supply and prices have to fall to a point of equilibrium in line with said money supply.

CONRAD

Dont despair, haven't you been reading these threads...carolt, neverdespair,boycey etc they've all got tonnes of savings ready to pounce and pay cash when we get a blip on prices :rolleyes:

neverdespairgirl

Conrad wrote: »

You shoud'nt make the mistake of thinking these were niche lenders, that only lent to those with appauling credit, oh no, they were there for those who had a minor credit blip, the self employed, the multi home owner, the older borrower, those with complex situations etc.

Really? My parents fell into most of those catagories when they last took out a mortgage - in their late 50s, my Dad's self-employed, owned more than one place, and the house was unique, early 14th century.

Their mortgage is with C & G, not sub-prime, I don't think?

Bismarck

PasturesNew wrote: »

I want a house that's mine and safe. Where it's safe to be in it and safe to leave it.
Where I can be me, without interference.

Safe.

My little oasis of calm and sanity.

It's not about affording it, these days it's a question of being able to continue to afford to live in it. With rising prices of basics (council tax, heating, electricity, fuel to get access to services/goods) you have to think of the long-term livability of a place.

Not a lot to ask really is it but apparently it is. And I can do without Gordon Brown saying "I feel your pain."

Yeah right.:mad:

If he felt the pain of the nation he'd be begging for mercy.

pickles110564

PasturesNew wrote: »

It's not about affording it, these days it's a question of being able to continue to afford to live in it. With rising prices of basics (council tax, heating, electricity, fuel to get access to services/goods) you have to think of the long-term livability of a place.

Surely when you rent you have all these to pay?

poppy10_2

pickles110564 wrote: »

Surely when you rent you have all these to pay?

Yes, but I think the point is that nowadays it is significantly cheaper to rent a place than it is to buy the same place. Historically that was not the case.

Dan:_4

poppy10 wrote: »

Yes, but I think the point is that nowadays it is significantly cheaper to rent a place than it is to buy the same place. Historically that was not the case.

Maybe so, but renting sucks

m00m00

neverdespairgirl wrote: »

Really? My parents fell into most of those catagories when they last took out a mortgage - in their late 50s, my Dad's self-employed, owned more than one place, and the house was unique, early 14th century.

Their mortgage is with C & G, not sub-prime, I don't think?

isn't your father about as 'professional' as it's possible to get though, in terms of vocation ?