rates up again

[Pevenseagull]

as expected another 0.25%

up 3 times between my mate exchanging contracts and completing

costing him £90 a month more than he thought it would

 

[bhafc4eva]

as expected another 0.25%

up 3 times between my mate exchanging contracts and completing

costing him £90 a month more than he thought it would

I hope they keep rising as it will f*** up all these people with more than 1 property and increase my savings. Can't wait for loads of people to fall into negative equity and the house prices to remain stable or drop slightly.

 

[clippedgull]

Re: Re: rates up again

I hope they keep rising as it will f*** up all these people with more than 1 property and increase my savings. Can't wait for loads of people to fall into negative equity and the house prices to remain stable or drop slightly.

Amen to that!

 

[cjd]

Re: Re: rates up again

I hope they keep rising as it will f*** up all these people with more than 1 property and increase my savings. Can't wait for loads of people to fall into negative equity and the house prices to remain stable or drop slightly.

Hate to dis-illusion you......but if house prices crash........that is the ideal time for people with property port-folios to buy. They usually have the equity on existing properties, and can buy very cheaply. It is how so many people made fortunes in the last crash. Certainly didn,t help the ordinary people.

 

[cardboard]

People will not go into negative equity - the housing market is still buoyant and will continue to stay that way.

 

[Barnet Seagull]

Re: Re: Re: rates up again

Hate to dis-illusion you......but if house prices crash........that is the ideal time for people with property port-folios to buy. They usually have the equity on existing properties, and can buy very cheaply. It is how so many people made fortunes in the last crash. Certainly didn,t help the ordinary people.

Agreed.

It'll affect those with heavy mortgages who've done all they can to get on the property ladder far more than those with large property portfolios.

 

[bhafc4eva]

Re: Re: Re: Re: rates up again

Agreed.

It'll affect those with heavy mortgages who've done all they can to get on the property ladder far more than those with large property portfolios.

I understand that but im not too fussed who is forced out the market as long as property becomes more accessible. I just find it hard to take that young people who were born in and bred in brighton, on a decent wage still can't afford to get a place of their own, barring renting.

 

[Woodchip]

Re: Re: Re: Re: Re: rates up again

I understand that but im not too fussed who is forced out the market as long as property becomes more accessible. I just find it hard to take that young people who were born in and bred in brighton, on a decent wage still can't afford to get a place of their own, barring renting.

I can only afford to rent, and then it's a flat-share as well.

 

[Cian]

Waiting for the Eurozone to go up again next month, and my AIB account to go to 7.35%

 

[Barnet Seagull]

Re: Re: Re: Re: Re: rates up again

I understand that but im not too fussed who is forced out the market as long as property becomes more accessible. I just find it hard to take that young people who were born in and bred in brighton, on a decent wage still can't afford to get a place of their own, barring renting.

So you'd rather see people like yourself (maybe in a few years) who've eventually got on the market, leave rather than those with large property portfolios.

Interest rate rises help no-one.

 

[cjd]

Re: Re: Re: Re: Re: rates up again

I understand that but im not too fussed who is forced out the market as long as property becomes more accessible. I just find it hard to take that young people who were born in and bred in brighton, on a decent wage still can't afford to get a place of their own, barring renting.

Unfortunately, the house-owners will probably be those young people "born and bred" in Brighton who suffer the most. They will probably be the young people who;

Didn,t Go back-packing for a year

Dont binge drink on weekends

Dont spend so much on CD,s etc etc

Walk or take public transport instead of expensive cars or taxis

Take on a second job to increase income

Are cautious and sensible with their money

In fact, they probably moved out of Brighton, because it no longer offers them what they want. Brighton over the last twenty years has become a vibrant city for the young. That has its price. What would people prefer...? Brighton as it is now.....or maybe a run down town, with few facilties, high crime and dirty...?....and of course, low priced housing.
You can,t have your cake and eat it.

 

[bhafc4eva]

Re: Re: Re: Re: Re: Re: rates up again

So you'd rather see people like yourself (maybe in a few years) who've eventually got on the market, leave rather than those with large property portfolios.

Interest rate rises help no-one.

Interest rates rising will certainly help me. Im saving to be able to get the mortgage i want so i dont need 6 times my salary, and rely on interest rates as to whether i can afford the re-payments or not. Also with my Mum and Dads house is nearly paid off and an endownment due, a raise in interest rates will only benefit even if only a little.

 

[Lammy]

5 year fixed

Most people who MOAN all the time about not getting on the hausing market are simply not trying hard enough. It takes a lot of sacrifice to get a house/flat. It always has. These days people just want things dropped on their lap.

There is also a snobbish attitude as to where is acceptable to buy your first place.

Why not look at a small flat in Whitehawk or Moulscombe?

 

[folkestonesgull]

people also seem to expect to be able to buy a place on their own - get a girlfriend or buy with a mate. Most areas have affordable property (even London) if there are 2 of you.

 

[Dave the OAP]

Re: Re: Re: Re: Re: rates up again

I understand that but im not too fussed who is forced out the market as long as property becomes more accessible. I just find it hard to take that young people who were born in and bred in brighton, on a decent wage still can't afford to get a place of their own, barring renting.

spot on!

 

[adrian29uk]

How prices are a joke. I hate these people who own about 10 properties and think they are clever bastards. Wankers have done nothing positive for the economy whatsoever.

Lets hope they have to crawl on their hands and knees and beg the bank and building society not to take their homes away.

Its these type of people that have made at hard for me to move out of home. I am 32 years old and will never ever be able to afford to get a property of my own.

I am not the only either, the numbers of people having to stay at home is only going to get bigger.

 

[cardboard]

How prices are a joke. I hate these people who own about 10 properties and think they are clever bastards. Wankers have done nothing positive for the economy whatsoever.

Lets hope they have to crawl on their hands and knees and beg the bank and building society not to take their homes away.

Its these type of people that have made at hard for me to move out of home. I am 32 years old and will never ever be able to afford to get a property of my own.

I am not the only either, the numbers of people having to stay at home is only going to get bigger.

why did you not buy a few years ago? i managed to get on the ladder about 6 years ago (1 bed flat) £ 65,000 sold it 2 years ago £130,000 bought a 2 bed house £167,000 now worth £200,000

get an interest only mortgage for £190,000 now for about £800 max put down a 10% deposit


sorted

 

[cjd]

How prices are a joke. I hate these people who own about 10 properties and think they are clever bastards. Wankers have done nothing positive for the economy whatsoever.

Lets hope they have to crawl on their hands and knees and beg the bank and building society not to take their homes away.

Its these type of people that have made at hard for me to move out of home. I am 32 years old and will never ever be able to afford to get a property of my own.

I am not the only either, the numbers of people having to stay at home is only going to get bigger.

The reason people buy "buy to let" properties is because there is a large rental market in brighton. Often , couples want to rent a property with their partner,to see how their relationship works before commting to a large mortgage, or they are "leaving home" for the first time to gain independance. Not sure why people who own 10 properties are wankers though..?
As stated earlier, I think these people will be the last ones crawling to the banks to take their properties away.......probably the other way around if prices crash.

 

[Kylies Stunt Arse]

The reason people buy "buy to let" properties is because there is a large rental market in brighton. Often , couples want to rent a property with their partner,to see how their relationship works before commting to a large mortgage, or they are "leaving home" for the first time to gain independance. Not sure why people who own 10 properties are wankers though..?
As stated earlier, I think these people will be the last ones crawling to the banks to take their properties away.......probably the other way around if prices crash.

Absolutely right. The other thing to consider is that in many areas of Sussex there are more buyers still than there are places on the market. Many houses are selling within 24 hours of being put up for sale. The market is still very buoyant.

It will be those with portfolios that will do best out of any crash, as they will be able to raise money on existing properties still, and snap places up on the cheap. Sellers will often be more interested in a buyer who can arrange the cash quickly than a FTB who will have to bow and scrape to the lenders to get a mortgage offer. Of course with mortgage rates going up, people will be able to afford less, so prices will have to REALLY fall for any change in the current buyer demographic. Lenders are getting stricter with their offers too since the FSA started regulating mortgages.

 

[Woodchip]

Why not look at a small flat in Whitehawk or Moulscombe?

'coz I've got a nice TV and PC that I don't want being pinched when the locals see it being moved in!