Attention: Please take a moment to consider our terms and conditions before posting.

housing market thawing a little?

razil
razil Posts: 15,041
edited February 2012 in Not Sports Related
seem to be more mortgages on the market and with smaller deposits 85-95%

anyone agree with this assertion?

«1

Comments

  • Curb_It
    Curb_It Posts: 21,265
    Yes.
  • Shag
    Shag Posts: 4,576
    No.
  • Harry Gregory
    Harry Gregory Posts: 869
    Can I afford Danny Greens Mums house now?
  • I-SAW-POUSO-PLAY
    I-SAW-POUSO-PLAY Posts: 4,619
    where you looking Razil?
  • Bedsaddick
    Bedsaddick Posts: 24,956
    Nothing has changed .
  • eaststandmike
    eaststandmike Posts: 14,956
    edited February 2012
    My son (25) has just applied for his first mortgage via Nat West and got it in a heart beat, no hassle and a reasonable deposit.
  • razil
    razil Posts: 15,041
    edited February 2012
    staying local, in fact round the corner - in the "Wode of the Falcon"

    hoping to tease out the mortgage brokers on here.. cdnt find a/the thread on this

    :)

    values seem to be about 10% down on the peak, in my area anyway
  • Swisdom
    Swisdom Posts: 14,980
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
  • johnny73
    johnny73 Posts: 4,567
    In our area more sales appear to be going through however prices seem to be well down from the peak. I think we are at a stage where more house owners are feeling the impact of the recession and have to sell. This will get the market moving again but a long way from a thaw.
  • Stig
    Stig Posts: 29,292
    Terrible news - I'll never sell my igloo now.

  • Sponsored links:



  • Ormiston_Addick
    Ormiston_Addick Posts: 8,818
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Nice place, are you quite sure your TV is big enough?
  • Curb_It
    Curb_It Posts: 21,265
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Average.

  • Plaaayer
    Plaaayer Posts: 9,010
    What kind of fridge do you have?
  • Oggy Red
    Oggy Red Posts: 44,990
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Have you seen the address, Swizz? ....... Peter Taylor Avenue. You can't move there!

    ;o)

  • Rizzo
    Rizzo Posts: 6,467
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    You'd never catch Danny Green living somewhere like that.

  • LenGlover
    LenGlover Posts: 31,716
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Have you seen the address, Swizz? ....... Peter Taylor Avenue. You can't move there!

    ;o)

    He's trying to move from there!
  • Oggy Red
    Oggy Red Posts: 44,990
    edited February 2012
    Oh, Yes. Duh!

    In that case ...... I don't blame him.

    Now if he'd got the local council to rename his street, something like Chris Powell Avenue - it would have sold straight away.
  • Oggy Red
    Oggy Red Posts: 44,990
    PS: Tell Large, there's a toaster in the kitchen!
  • Webby
    Webby Posts: 347
    As an estate agent the market is still very flat and very few people meet the criteria for a mortgage using multiples of income etc unless have a fairly hefty deposit .... This rules out most FTB unless they have the help of bank of mum and dad. There are fewer properties coming on to the maket so this will help to shift some properties already on he market due to supply and demand. Have a friend who is an excellent mortgage adviser ..... inbox if need his contact number.
  • Chirpy Red
    Chirpy Red Posts: 7,587
    A house in my road was up for £1.2m and now has a SOLD board up.

  • Sponsored links:



  • razil
    razil Posts: 15,041
    interesting Webby, I guess we'll watch events unfold if there is a thawing. I understand a 95% mortgage exclusive from Foxtons estate agents is on its way if not already here.

  • Charlton and on
    Charlton and on Posts: 1,006
    How big is your toaster?
  • LargeAddick
    LargeAddick Posts: 32,934
    PS: Tell Large, there's a toaster in the kitchen!
    not as nice as Danny's ;-)

  • Webby
    Webby Posts: 347
    interesting Webby, I guess we'll watch events unfold if there is a thawing. I understand a 95% mortgage exclusive from Foxtons estate agents is on its way if not already here.

    They are available now Razil but with lendors obligated nowadays to prove affordability very few FTB earn a salary to raise a mortgage to buy even the cheapest of properties. Properties are cheaper here on the Isle of Wight but would need a salary of £35,000 per annum to afford the cheapest house, average wage is £22,000 ...... The only quick fix to this problem is if the government lend the deposit required and secure an interest in the property, thus as prices increase so does their stake and also gets the market moving thus creating jobs, VAT income on fees, stamp duty etc so will actually make money by investing. Despite how low mortgage rates are, even if the lendors paid you to have a mortgage, it helps very little if you physically cant get a mortgage.

  • razil
    razil Posts: 15,041
    Yes of course, I am merely hinting that mortgage lending is getting back to normal/sensible levels, I completely agree that it shouldn't go beyond a certain percentage and that checks be more stringent.

    Interesting point you suggest, so deposit loan for ftbs (ratio seems to be 5 to 1 assuming affordability is good)?
  • Swisdom
    Swisdom Posts: 14,980
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Average.

    Feel free to judge my house why don't you

    Sorry if I'm not up to scratch to post on here

  • Swisdom
    Swisdom Posts: 14,980
    interesting Webby, I guess we'll watch events unfold if there is a thawing. I understand a 95% mortgage exclusive from Foxtons estate agents is on its way if not already here.

    They are available now Razil but with lendors obligated nowadays to prove affordability very few FTB earn a salary to raise a mortgage to buy even the cheapest of properties. Properties are cheaper here on the Isle of Wight but would need a salary of £35,000 per annum to afford the cheapest house, average wage is £22,000 ...... The only quick fix to this problem is if the government lend the deposit required and secure an interest in the property, thus as prices increase so does their stake and also gets the market moving thus creating jobs, VAT income on fees, stamp duty etc so will actually make money by investing. Despite how low mortgage rates are, even if the lendors paid you to have a mortgage, it helps very little if you physically cant get a mortgage.

    Interestingly I sat with a mortgage broker recently to get an idea on whether I could do what I wanted to do for my new house.

    If I had a 25% deposit I had pages and pages of options
    If I had 20% deposit I had 2 lenders, vastly higher rates and only 8 options to choose from

    As much as the market might be thawing slightly - it's still difficult to get a decent rate without a stack of cash up front

  • Swisdom
    Swisdom Posts: 14,980
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Nice place, are you quite sure your TV is big enough?
    That's why I am moving - need a bigger house for my TV :-)

  • razil
    razil Posts: 15,041
    perhaps you need a new broker? or perhaps it wasn't very very recently?

    you do get better deals for more you put down, but still a fair number of deals out there for 90%
  • Curb_It
    Curb_It Posts: 21,265
    My mortgage got approved yesterday but we are putting a 25-30% deposit down

    I just need to sell my house now - if anyone's interested.....

    http://www.rightmove.co.uk/property-for-sale/property-21658968.html?premiumA=true
    Average.

    Feel free to judge my house why don't you

    Sorry if I'm not up to scratch to post on here

    I have very high standards me.

Categories

“Marketplace”