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House selling?? or not!!??

House selling?? or not!!??

Old Jul 25th 2008, 2:20 pm
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Post Re: House selling?? or not!!??

Originally Posted by traciridgwell View Post
You are obviously able to rent out, whilst still being able to cover your mortgage?! Our mortgage is too high, wouldn't be able to rent out for enough to cover it! Good luck with tenant finding!
Ours was too, but spoke to our finance chap and he told us to change to an interest only mortgage, which will make it affordable, just.... Not doing it yet, fixed period/rate finishes in Sep.

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Old Jul 25th 2008, 3:03 pm
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Default Re: House selling?? or not!!??

We too have just changed ours to an interest only mortgage, which has may a massive difference, I think you can do this even if it's a fixed rate. Now we are going to ride the storm, and to encourage us to have tenants, we dropped the rent by £50 a month, so it's more appealing, we had people ringing us all day to view the property.
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Old Jul 26th 2008, 7:42 am
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Default Re: House selling?? or not!!??

Good luck to anyone selling.

We finally manage to complete yesterday. Its def a buyers market. Our 'financial dream' of what we could do in NZ has broken, but we still have the dream of being able to live here

So at 34 I'm starting out again with what I had at 20, pretty much nothing
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Old Jul 26th 2008, 8:19 am
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Default Re: House selling?? or not!!??

Originally Posted by newzealandplease View Post
Good luck to anyone selling.

We finally manage to complete yesterday. Its def a buyers market. Our 'financial dream' of what we could do in NZ has broken, but we still have the dream of being able to live here

So at 34 I'm starting out again with what I had at 20, pretty much nothing
At least it's currently a buyers market here, so you may be ok? At least you've sold now so you can move on and follow your dreams.
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Old Jul 29th 2008, 8:14 am
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Default Re: House selling?? or not!!??

dont despair sellers!!
we thought we were going to have to rent our place out but yesterday ( with only two weeks till we fly) we accepted the offer on our house, everything going through quite quickly, so yes houses are still selling.

gina

goodluck to everyone selling.
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Old Jul 29th 2008, 8:23 am
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Default Re: House selling?? or not!!??

Originally Posted by newzealandplease View Post
Good luck to anyone selling.

We finally manage to complete yesterday. Its def a buyers market. Our 'financial dream' of what we could do in NZ has broken, but we still have the dream of being able to live here

So at 34 I'm starting out again with what I had at 20, pretty much nothing
Ditto; 'cept we're pushing 40 and have 2 adolescents in tow that weren't around when we were 20 Back on 95% mortgage over 25yrs - but it's all good
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Old Jul 29th 2008, 8:32 am
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Default Re: House selling?? or not!!??

We bought a DIY power of atourney pack from WH Smiths, and it cost just £15. Once you have read through the instructions, there is only one form that you need to fill in, and it is basically names and addresses, and signatures.

So it is really easy.........

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Old Jul 29th 2008, 8:40 am
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Default Re: House selling?? or not!!??

Originally Posted by newzealandplease View Post
Good luck to anyone selling.

We finally manage to complete yesterday. Its def a buyers market. Our 'financial dream' of what we could do in NZ has broken, but we still have the dream of being able to live here

So at 34 I'm starting out again with what I had at 20, pretty much nothing


Really feel for you, I am almost 50 and have just lost my life savings of $140k NZ to a finance house that has failed to meet its obligations.

So I am back to square one in many ways...at my rate of $27.50 per hour as a cleaner it will only take me 5091 hours to claw the money back.:curse:...I do 2 hours a week so it will take me 53 years...how bloody funny is that???????
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Old Jul 29th 2008, 10:31 am
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Default Re: House selling?? or not!!??

Originally Posted by gina and danny View Post
dont despair sellers!!
we thought we were going to have to rent our place out but yesterday ( with only two weeks till we fly) we accepted the offer on our house, everything going through quite quickly, so yes houses are still selling.

gina

goodluck to everyone selling.
CONGRATULATIONS!!!!! That's fab isn't it. Talk about last minute eh!!! We had our 5th viewing since April but still not an offer. We are resigning ourselves to the fact that we will have to rent and just send OH out to work ASAP when we arrive. But it'll all be worth it.

Good luck everyone in the same boat as us.

Lou
xx

Genesis - I am so sorry to hear your awful news. What a nightmare. Isn't there any insurance or anything the government can do to help you out? It's such a disgrace that the bosses of these companies can get away with millions, leaving hard working honest folk skint.
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Old Jul 29th 2008, 11:13 am
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Default Re: House selling?? or not!!??

Reading this thread makes me realise that for most of us considering or in the process of making the move we have all got similar or the same worries regarding our houses. There has to be some solace in that!

We spent a long time deciding whether to sell or rent ours, and have decided to rent it out, but it's been on the rental market for over a month and not a sniff from any tenants so we've reduced the rental price to try and generate some interest as we leave in 8 weeks time and amongst everything else we are sorting out it's our biggest worry that we won't have a tenant and hence a rental income to cover the mortgage when we are in NZ.

Talk about stressful!
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Old Jul 29th 2008, 1:28 pm
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Default Re: House selling?? or not!!??

Hi Scotty D

I know what you mean. I am really hoping that we find tenants. The Property Guy said we would have no problem, but we thought that when we originally put our house on the market.

Am going to cross everything for all of us!!!

Lou
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Old Jul 29th 2008, 5:54 pm
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Default Re: House selling?? or not!!??

Our sale fell through about 2 weeks ago. That's completely blown our timetable for selling and getting out to NZ - job starts in Auckland in October so looking to leave here at end of September. We reduced our price by a total of 40k - and even in the final weeks we were getting no viewings.

Sounds like anyone who sells now might be thinking they've not got a great deal - but from what I'm reading you might look back on it in a few years time and be glad you did.

We're going to rent it - we're lucky that it stacks up for us - just about.

Anyoneone want to rent a 3 bedroom house in Worthing? It's on here...

http://britishexpats.com/classifieds...p?product=2303
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Old Jul 30th 2008, 12:54 pm
  #58  
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Default Re: House selling?? or not!!??

omg I recognise your house we last lived in worthing in 1997 but know the area well! my heart goes out to you with your sale falling through. we used to live on Rowlands Road! MIL still lives in Goring and OH grew up in Durrington! what a small world.
it might be worth trying the local housing association they are always short of property! good luck
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Old Jul 30th 2008, 4:06 pm
  #59  
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Default Re: House selling?? or not!!??

I know Worthing as well, as back in the early nineties, use to live in Bognor and then Brighton and worked in Lancing! But I am surprised that Worthing has been hit hard by the slow down, being near the sea and also in demand by the retired brigade. Mind you, if you can can that sort of rental income for a 3 bed terrace place, I say keep it!
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Old Jul 31st 2008, 6:36 pm
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Default Re: House selling?? or not!!??

Rented it out today!! Auckland here we come!!

And good luck to anyone in a similar position that we were in.

Last edited by pp15doodoo; Jul 31st 2008 at 6:38 pm.
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