The Time to Buy property is Now

aqueoushumour01

house prices have fallen a lot but they are still expenisve relative to wages. the lower rates may give a boost to the housing market, particularly as mortgage costs are now substantially lower for those who already have a house. We need to be careful though not to prevent a crash by causing another bubble. If interest rates continue as they are, and banks start lending again, would the obscenly low cost of borrowing lead once more to debt fuelled house prices rises? Ok if you already have some equity but what about the FTB who needs to put up a much higher deposit before even being considered for a mortgage? Another concern is that if people are able to stay in their houses despite not being able to afford the mortgages, banks have no recourse to get their money back quickly - they will surely factor this in to the cost of their mortages, which will probably be reflected in higher arrangement fees.

Davesnave

HappySad wrote: »

As I said I plan to buy next year.

Are you sure you said that?

On my computer, you said: 'so if you can afford to buy now then BUY'

I was merely standing aside to let you through, as I'm waiting for a bit to see how things pan out.

Anyway, by the time either of us gets to sign that contract, it looks like the article will be at least a year old.

Gorgeous_George

mewbie_some_time_ago wrote: »

Interest rates will rise to 16% and you'll get three Euros in the Pound shop

I think not.

GG

neverdespairgirl

mr.broderick wrote: »

Usually a sign that there is a lack of negative press.
I am going to drag up all the posts from 6 months ago when people were warning of 16% interest rates. I actually believed they would drop to 2/3% and i know generali would vouch for this.

Mr.. B, Mr. B, Mr. B. Oh dear. I fear a porky pie or so is being told here:

1. As you said in July:

More damaging news for ftb saving up deposits.

Borrowers will be happy of course at the expense of savers, Interest rates wil have to rise in my honest opinion. We are probably already in a recession with inflation in my opinion double the publicised figures.

http://forums.moneysavingexpert.com/showpost.html?p=13272789&postcount=21

2. In October, once the B of E started cutting, you said:

Don't agree i think we are at peak inflation, expect interest rates of 3% come march. (You heard it 1st here....Mr.B)

http://forums.moneysavingexpert.com/showpost.html?p=14978847&postcount=12

3. Back in June, you opined:

Interesting that's a turnaround, i was betting on b.o.e rate being at 4.50 by september. Still not high at 5.75 and maybe that is the way forward i certainly would welcome it. So maybe now is a good time to buy, way i see it if you can get a good buy maybe 15% below market might be a time to take advantage of relatively low rates.

http://forums.moneysavingexpert.com/showpost.html?p=11607187&postcount=13

Zelie

Jebus you lot are fearsome. Remind me never to get stalked by any of you!

Davesnave

Zelie wrote: »

Jebus you lot are fearsome. Remind me never to get stalked by any of you!

Ah, but NDG does this sort of thing for a living. The rest of us just dabble!

Gorgeous_George

Yes, NDG is an old pro (allegedly m'Lud).

Rather than fearsome, I prefer to call it 'paying attention'.

GG

mr.broderick

neverdespairgirl wrote: »

Mr.. B, Mr. B, Mr. B. Oh dear. I fear a porky pie or so is being told here:

1. As you said in July:

More damaging news for ftb saving up deposits.

Borrowers will be happy of course at the expense of savers, Interest rates wil have to rise in my honest opinion. We are probably already in a recession with inflation in my opinion double the publicised figures.

http://forums.moneysavingexpert.com/showpost.html?p=13272789&postcount=21

2. In October, once the B of E started cutting, you said:

Don't agree i think we are at peak inflation, expect interest rates of 3% come march. (You heard it 1st here....Mr.B)

http://forums.moneysavingexpert.com/showpost.html?p=14978847&postcount=12

3. Back in June, you opined:

Interesting that's a turnaround, i was betting on b.o.e rate being at 4.50 by september. Still not high at 5.75 and maybe that is the way forward i certainly would welcome it. So maybe now is a good time to buy, way i see it if you can get a good buy maybe 15% below market might be a time to take advantage of relatively low rates.

http://forums.moneysavingexpert.com/showpost.html?p=11607187&postcount=13

I reserve the right to change my always right opinion.

bo_drinker

Don't give up your day job Mr B. :rotfl: :rotfl: :rotfl:

Cat695

neverdespairgirl wrote: »

Mr.. B, Mr. B, Mr. B. Oh dear. I fear a porky pie or so is being told here:

1. As you said in July:

More damaging news for ftb saving up deposits.

Borrowers will be happy of course at the expense of savers, Interest rates wil have to rise in my honest opinion. We are probably already in a recession with inflation in my opinion double the publicised figures.

http://forums.moneysavingexpert.com/showpost.html?p=13272789&postcount=21

2. In October, once the B of E started cutting, you said:

Don't agree i think we are at peak inflation, expect interest rates of 3% come march. (You heard it 1st here....Mr.B)

http://forums.moneysavingexpert.com/showpost.html?p=14978847&postcount=12

3. Back in June, you opined:

Interesting that's a turnaround, i was betting on b.o.e rate being at 4.50 by september. Still not high at 5.75 and maybe that is the way forward i certainly would welcome it. So maybe now is a good time to buy, way i see it if you can get a good buy maybe 15% below market might be a time to take advantage of relatively low rates.

http://forums.moneysavingexpert.com/showpost.html?p=11607187&postcount=13

You have to admit though NDG is awesome isn't she....no one escapes