House viewing - tell the truth?
#76
Joined: Feb 2007
Posts: 3,020
Re: House viewing - tell the truth?
That probably wouldn't be a bad idea. It seems that you can't trust the banks or their customers to make sensible decisions. There's a real need for a nanny state because people are so ****ing stupid.
#78
Re: House viewing - tell the truth?
There is stuff being put in place for first time buyers, but for some reason alot of them dont know about it
http://www.politics.co.uk/news/opini...s-$1217725.htm
http://www.politics.co.uk/news/opini...s-$1217725.htm
Why is it that the only financial assistance our government are willing to give is to the true poverty-stricken? (I say 'poverty' with my tongue in my cheek as no-one suffers true poverty nowadays, not with credit cards available to all and sundry). You have to be on a joint income of #15.5k to get any kind of help - that's less than #8k each! Surely no-one's on #8k nowadays??
Sorry to sound belligerent but it just seems you don't get any help till you're already in max debt and are living off breadcrumbs and stale water... :curse:
#79
Re: House viewing - tell the truth?
I think they could do something similar to Canada with their lending restrictions to include all bills etc to check if you can really afford it. (My experience with the banks in NB of course this may not be government interaction and just conservative bank lending practices)
#80
Re: House viewing - tell the truth?
UK lenders already do take into account existing debt and monthly outgoings. If you've no deposit, are relying on income multiples of 5 or 6x your salary, and want to pay interest only on your mortgage payments, then you can't really afford to buy a house, so when he market drops, you've only yourself to blame.
#81
Joined: Jul 2007
Posts: 2,139
Re: House viewing - tell the truth?
UK lenders already do take into account existing debt and monthly outgoings. If you've no deposit, are relying on income multiples of 5 or 6x your salary, and want to pay interest only on your mortgage payments, then you can't really afford to buy a house, so when he market drops, you've only yourself to blame.
Even at that, people would literally beg for bigger & bigger mortgages, sums of money that made my eyes water. It was the height of foolishness & greed - on the customers part as well as the banks.
The vast majority of the time, people were buying relatively new, large, well appointed properties. New builds, nice swanky apartments and so on. Whatever happened to buying some run down old pit that no one else wants and working hard to make it nice? People are greedy, I'm so glad I don't work in that field any more!
On a sobering note......http://uk.news.yahoo.com/pressass/20...s-6323e80.html
Historically when the big 'uns like Abbey put up their rates, everyone else is forced to follow.
#82
Re: House viewing - tell the truth?
UK lenders already do take into account existing debt and monthly outgoings. If you've no deposit, are relying on income multiples of 5 or 6x your salary, and want to pay interest only on your mortgage payments, then you can't really afford to buy a house, so when he market drops, you've only yourself to blame.
Just like loans, they used to be really hard to get but nowadays you can get one in an afternoon. Why has debt become the norm, people don't seem to care.
I don't understand why someone would want to only pay only the interest on a mortage, why not rent?
I think some people did know deep down that the property boom wasn't going to last.
#83
Re: House viewing - tell the truth?
UK lenders already do take into account existing debt and monthly outgoings. If you've no deposit, are relying on income multiples of 5 or 6x your salary, and want to pay interest only on your mortgage payments, then you can't really afford to buy a house, so when he market drops, you've only yourself to blame.
Poor ethical management = sub prime mess
#84
Re: House viewing - tell the truth?
We have our first house viewing on Weds (after 6 weeks on the market) - do we tell them the truth about moving to Canada? Do we also offer furniture etc into the deal to try and tempt an offer? We're probably not going to ship furniture anyway as it's mostly Ikea stuff that would cost nearly as much to ship than to replace....
On the other hand, is this likely to encourage them to take the pee if they think we're desperate (which we are)?
On the other hand, is this likely to encourage them to take the pee if they think we're desperate (which we are)?
And good luck
My house is on the market as from monday and I have made it quiet clear with my E/AG that I'm not desperate also I don't have to move, so I wont be accepting any unreasonable offers. It's in his interest to get more because of his commission
#85
BE Enthusiast
Joined: Jan 2008
Location: West Lothian
Posts: 685
Re: House viewing - tell the truth?
It doesn't make enough of a difference, they just want the bulk of the fee, not the fraction extra.
It's the excess lending that has inflated house prices, more than just would have been the case if the house prices had kept in line with incomes rising.
It's the excess lending that has inflated house prices, more than just would have been the case if the house prices had kept in line with incomes rising.
#86
Re: House viewing - tell the truth?
Thanks for the comments.
As a Surveyor myself I know the extra is important. More so now as E/Ag are going under at the min....two near me have asked other E/Ag to buy they stock....E/Ag are now a desperate profession as jobs are at risk.
#87
Just Joined
Joined: Jun 2008
Location: France
Posts: 7
Re: House viewing - tell the truth?
Hi
We are moving from France To Peterborough On, our Estate/Immos are charging between €8k and €14k for a €185k house with that and the Euro-sterling rate we may be here some time! As for answers to annoying questions a friend responded with "problem with the Tax man so need to disappear" funny got no more questions!
Matt
We are moving from France To Peterborough On, our Estate/Immos are charging between €8k and €14k for a €185k house with that and the Euro-sterling rate we may be here some time! As for answers to annoying questions a friend responded with "problem with the Tax man so need to disappear" funny got no more questions!
Matt