Sorry to call you Sean. What is a TAGI?

What the trust pays for my services and what I make as profit are two completely different numbers as the newspapers forget too. I have staff expenses, building/utility costs, equipment, insurance, pension contributions and a lot more deductions.

The grass is rarely greener on the other side

 

The problem with relating UK housing prices to “fundamentals” is that we have very little in the way of “fundamentals” left in our economy ---- sentiment and confidence are the only two left as far as I can see.

We have no motor industry, most of our energy companies are owned by foreign companies, our last television set was manufactured on friday wada wada

People have been saying house prices have been outstripping earnings aka fundamentals etc for the last 40 years.

If house prices went back to the levels at the turn of the century we would have far bigger problems than simply a reduction in house prices.

 

Just noticed HSBC are doing a cracking 2 year deal at 1.99% .!!!!!!
Bit of a hefty charge of 1200 quid ,but not a bad rate I have to say .

You do need a 40% deposit though .

May help a few peoples out there ......Seemples .!!!!!!!!!

 

"checks piggy bank for £80k"

 

40% deposit. I'll see if bank of Mum and Dad has it down the side of the sofa.

Cracking 2 year deal my @rse.

 

SSU,s offspring will be OK .!!!!

As will many of the people who still have plenty of Equity .!!!!!


Eee theres no pleasing some folk .!!!!


Papers today report a Mortgage war has started .Can only help the Consumer .

 

Does anyone care about SSU's off-spring?

Anyone who has equity is struggling to sell their home, as people can't stump up the 40% deposit to secure a decent mortgage.

 

I think this is an interesting development

It has been my view that, with so much access to cheap money, the banks will start to offer good deals to low risk customers -- and when the banks run out of low risk customers, they will inevitably start to "chase" customers and lower the risk profile. (it’s called “market share” and it sends people dizzy with excitement)

We will all be back here in 15 years time (with another generation of bankers and property investors getting very rich – it’s how the world works)

If history teaches us anything it is that we rarely learn from history

 

just had our 500k offer accepted (was on at 550k) on a house

going to try and raise the finance without selling anything -- so my financial guy will have his work cut out

but a bargain tbh -- get in

 

Lets have a look then, rightmove link?

 

aha will do when I have exchanged contracts

 

Look forward to seeing what you get for that money hodgy .

You have no fear of any of the big time Charlies on here Gazumping you , even if you did give us all a sneak preview !!!


Hope all goes through smoothly for you .
Good Luck .

 

thanks guys -- well we shall see -- hey how is the merc njkmrs

actually you might be right re the big time charlies -- now that the serial property developer SSUP has been banned

 

still can't believe my "tracker" (market indicator) properties have only dropped 10k on the asking price (~10%). Really thought these one bed properties would have been hit hard and would have been down to 70 to 80k. As it is they are asking 120k.

 

Loving the new motor hodgy .No regrets about buying it .Swanking about in it ,almost makes me think Im a big time Charlie !!!!!!!!!!

Is this new place ,a move in all done property, or is it a place to develop to your own taste .??

 

its a place to develop, (although its "done" in the sense its not a building site) we will over the next 3-4 years probably throw 100k at it (I never do any work immediately on a property, I think you have to live there first to get a feel for living in it)

but with a careful 100k you would be able to make a very very nice property

we need 5-6 bedrooms (which it has) and it has an acre of very nice garden complete with out buildings which I will probably turn into play/games rooms for the kids and maybe an office or even a 1 bed self contained flat and then rent it (we have used this tactic very successfully in the past).

And it’s in the same village as we live in now – walk to the school & shop/post office and on a bus route into Cambridge – all very important coz it means you are not constantly in the car

it is a “slightly” quirky layout at the moment, which puts the average punter off because 90% of people have no vision or imagination.

I am pleased re the merc, some motor, you certainly put you **** on the block there

 

a secondary dip will mean that the people that are lucky enough to keep a reasonably well paid job will be relatively even better off that they are now

with continued low interest rates and low inflation

 

Your right about not doing anything on the house when you first move in .

I made the mistake of getting plans drawn and planning permission etc 4 years ago when we first moved to the home we are in now .(2 extra beds/bathrooms in the loft space ,turning a nice Bungalow into what would look like a two storey house .) As time has gone by we have done all the rest bar the loft conversion ,because our needs have changed and to be honest the house would have been out of balance putting two more beds in it .Loft will now be turned into a master sweet ,ensuite and a pleasure dome for me and the wife .!!!! Makes a hell of a lot more sense and it is a lesson learnt .

I am still convinced property is the best place for your money .


Sounds like your place will keep you busy and has lots of potential ,as well as being a sound investment .I always say you make your money on buying property .(getting it at the right price ,pretty much guarantees profit further down the line .)

Interest rates ,likely to remain low for some time ,house prices recovering slightly ,rents increasing .All good .

Look forward to seeing some pics .!!!

 

For those that are interested I accepted an offer on the house I put up for sale recently.

Was valued in Jan 2008 at 340k - next door sold for £325k that month which was in need of redecoration - however by the time of exchange (April/May) the buyers reduced their offer by 10k, house went for 315k in the end...

Come Aug 2008 we put ours on market for 320k, not a sniff so reduced to 300k in Oct. 3 viewings between then and Xmas and a rejected offer for 270k. Took house off market.

Put back on at end of August 2009 for 310k - 6 viewings in 3 weekends - accepted offer of 300k, 2 house chain, our buyers downsizing.

Property is a 3 bed town house in North Surrey

 

I think you did ok there...

Got there in the end...

What was the peak price of the property in late 2006-2007 ??

 

good skills mate

 

Peak price was 340k in Jan 2008, only started falling thereafter - having said that asking price would have been had summer 2007 - for example property next door was on at 330k in the Jan and accepted offer of 325k - but market was falling almost immediately after offer was accepted - IMO if the property was pit on in summer 2007 for 320k it would have got full asking, so I suppose we 'could' have got 330k for ours in summer 2007.

But thanks to tracker mortgage we made on average £700 per month net on rental for the 2 years between peak and actual sale price.

 

why sell then -- or do you need to release capital and the net gain on rental has been "artificially" enhanced by V low interest rates?

 

Both, yes!

 

cool -- I understand -- well done anyway

 

cheers

 

Prices rise yet again !!!

Just reported on the evening news .

Some of it due to a shortage of people selling .!!!!!

 

^^^^^^^

Sucker...

Do you actually know anyone who selling in the last few months and put up there price ??

A close friend has had his mothers house up for sale(due to bereavement).. It was valued at £172,000 in July 2008. It dropped in stages to £145,000.
Accepted an offer of £137,000 at weekend..

He did have 7 viewings in just over 12 months.

 

I guess all the reports are wrong then .

I am not sure they are saying house up for sale for 300k was actually upped to 310k .Doh !!!!!!!

I presume it is new instructions being valued higher than 6 months ago .


Although second hand cars are increasing in value ,so who ever thought that would happen ,aside from the high end Exotica .

Funny old game innit ????