First Time Pouncer (FTP)

Zelie

existentialist wrote: »

Greed personified. Human nature I suppose... vultures sweeping.

Probably more accurate to say that FTPs are the victims of greedy vultures who have overinflated the market and priced many people out of buying or moving. About time there was a change.

RichardDJ

Spot on there Z - I'm looking forward to sitting back and watching the pain unfold for the greedy :beer:

maryotuam

Foggy wrote: »

I'm in. I put my house up for sale in February for 249950, accepted 249000 2 weeks later from a FTB. Instead of getting myself in a chain I arranged to move in with a friend - who charges me 'a bit of gas and electric'. I completed on 23 May after 3 months of sweating on the doom and gloom headlines coming through. My furniture is spread between my friend's and my parent's houses so I haven't even got storage costs.

My buyer had a mortgage offer withdrawn before the Nationwide provided one. I'm now completely debt free with a good deposit in the bank and planned to start looking straightaway but as it turns out I'm perfectly happy to wait and learn to be a saver. I'm looking at two years to add to my deposit and watch what happens.

It all feels surreal at the moment. I've never checked a savings rate in my life....

Are you not worried that your friends and family might not get a bit fed up of your furniture being in the way and you might outstay your welcome if you don't pay your way? I put up a friend and her child temporarily but after 5 months it all got a bit strained. However when she got a place of her own all the tension between us went away.

meester

wymondham wrote: »

I think/hope we're seeing a new breed of first time buyer - The First Time Pouncer, who:

See's house prices are presently way too high
See's the downturn is occuring
See's Shared Ownerships for what they are
Avoid's being attracted to any new build 'offers'
Has decided to delay purchasing for the time being...
Has decided to rent in the meantime possibly (as cheaply as poss)
Has decided to save, using all usual means (ISA's etc..)
Has decided to repair any credit problems during this period
Reduce their debt, especially credit cards

When the time is right, and others are struggling they can jump in there (the pounce bit - did you see where it was going?! ) and pick up those bargains they could only dream about at present....

Bring them on ...!!
Sign up here guys!!!

I'm in this boat. I have £150k saved up, I'm paying £18k annual rent on a house that at 5.5% I/O would cost over £30k when you factor in maintenance. I'm not even going to CONSIDER buying for at least 18 months though. You'd be mad to buy at the moment, falls are 2% MoM, minimum so we are looking at 25% off a year, the rate of fall is too fast to be buying until things slow down a little (they have to eventually I guess, when prices have fallen enough).

missile

maryotuam wrote: »

Are you not worried that your friends and family might not get a bit fed up of your furniture being in the way and you might outstay your welcome if you don't pay your way? I put up a friend and her child temporarily but after 5 months it all got a bit strained. However when she got a place of her own all the tension between us went away.

I was thinking that too. How is it when you have a spare room the fair weather friends / spongers see it as an opportunity to move in and live rent free?

poppy_f1

im in
my main plan is to get rid of my 4k of debt then throw everything into savings, hopefully by the begining of next year will be in the position to start looking

A_Guard_Swine

Its time for CRAZY offers !
Really what does it cost to offer 10-20% under asking.
If we all do it !
Even just a few It could be a start.

Crashtogether

I know somebody who I work with has offered 70% of the asking price and got an offer accepted! A reduction of about £30,000 because the seller's were desperate by the sounds of it.

I'm hoping to do something similar to a flat that I've seen.

mr.broderick

Crashtogether wrote: »

I know somebody who I work with has offered 70% of the asking price and got an offer accepted! A reduction of about £30,000 because the seller's were desperate by the sounds of it.

I'm hoping to do something similar to a flat that I've seen.

Good luck. See you on here in 6 months hpi cheerleading

brit1234

mr.broderick wrote: »

Good luck. See you on here in 6 months hpi cheerleading

You don't seem to get it do you. Price inflation only benefits buy to let people (publicly known as greedy scum) and people wanting to downsize. For the vast majority it hinders our getting on the ladder and climbing up.