NZ Estate Agents and Banks
Feb 1st 2017, 4:03 am
#1
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Joined: Jan 2017
Posts: 392
NZ Estate Agents and Banks
Reason we never bought in Auckland is distrust of estate agents and what we see is a fallible property market.
When an estate agent can't give you a price range but insists we place a offer with the vendor?
When the economic indicators suggest 2% to 3% interest rise over next 18 months due to global wholesale rates
When people earning an above average salary will still be paying a multiple of over 9. Really what gets me is how do the banks say they have been providing sensible lending when the 4.5 should of been in place from beginning.
Now I hear the banks are telling people not to bid at auction but await to negotiate after. Also people are now losing deposits as pre arranged finance is falling through due to valuations by bank not agreeing with inflated auction valuations. Where this scheme of being market value comes from reinforces my thoughts on banks in above.
We have lived very frugally (banking my salary living on my wife's) for last 3 years saving about the average house price in Auckland, while a friend is still sitting with the same mortgage level he started with 2 years ago - Interest only is a bank con you would be wise to avoid.
Rant over off to drink the neighbors cold beer and watch his wife char meat on the BBQ
When an estate agent can't give you a price range but insists we place a offer with the vendor?
When the economic indicators suggest 2% to 3% interest rise over next 18 months due to global wholesale rates
When people earning an above average salary will still be paying a multiple of over 9. Really what gets me is how do the banks say they have been providing sensible lending when the 4.5 should of been in place from beginning.
Now I hear the banks are telling people not to bid at auction but await to negotiate after. Also people are now losing deposits as pre arranged finance is falling through due to valuations by bank not agreeing with inflated auction valuations. Where this scheme of being market value comes from reinforces my thoughts on banks in above.
We have lived very frugally (banking my salary living on my wife's) for last 3 years saving about the average house price in Auckland, while a friend is still sitting with the same mortgage level he started with 2 years ago - Interest only is a bank con you would be wise to avoid.
Rant over off to drink the neighbors cold beer and watch his wife char meat on the BBQ
Feb 1st 2017, 4:13 am
#2
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Joined: Sep 2006
Posts: 4,298
Re: NZ Estate Agents and Banks
Reason we never bought in Auckland is distrust of estate agents and what we see is a fallible property market.
When an estate agent can't give you a price range but insists we place a offer with the vendor?
When the economic indicators suggest 2% to 3% interest rise over next 18 months due to global wholesale rates
When people earning an above average salary will still be paying a multiple of over 9. Really what gets me is how do the banks say they have been providing sensible lending when the 4.5 should of been in place from beginning.
Now I hear the banks are telling people not to bid at auction but await to negotiate after. Also people are now losing deposits as pre arranged finance is falling through due to valuations by bank not agreeing with inflated auction valuations. Where this scheme of being market value comes from reinforces my thoughts on banks in above.
We have lived very frugally (banking my salary living on my wife's) for last 3 years saving about the average house price in Auckland, while a friend is still sitting with the same mortgage level he started with 2 years ago - Interest only is a bank con you would be wise to avoid.
Rant over off to drink the neighbors cold beer and watch his wife char meat on the BBQ
When an estate agent can't give you a price range but insists we place a offer with the vendor?
When the economic indicators suggest 2% to 3% interest rise over next 18 months due to global wholesale rates
When people earning an above average salary will still be paying a multiple of over 9. Really what gets me is how do the banks say they have been providing sensible lending when the 4.5 should of been in place from beginning.
Now I hear the banks are telling people not to bid at auction but await to negotiate after. Also people are now losing deposits as pre arranged finance is falling through due to valuations by bank not agreeing with inflated auction valuations. Where this scheme of being market value comes from reinforces my thoughts on banks in above.
We have lived very frugally (banking my salary living on my wife's) for last 3 years saving about the average house price in Auckland, while a friend is still sitting with the same mortgage level he started with 2 years ago - Interest only is a bank con you would be wise to avoid.
Rant over off to drink the neighbors cold beer and watch his wife char meat on the BBQ
Greed, greed, greed. That is what drives so many people and organisations. The rich get richer and the poor get poorer. It is only a matter of time before there is a revolt against the tiny minority of people who hold most of the power and money on our little planet. And I don't think it is going to be very nice.
Feb 1st 2017, 6:41 am
#4
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Joined: Oct 2011
Location: Wellington - I miss Castles, the NHS & English school system
Posts: 9,077
Re: NZ Estate Agents and Banks
When the economic indicators suggest 2% to 3% interest rise over next 18 months due to global wholesale rates
When people earning an above average salary will still be paying a multiple of over 9. Really what gets me is how do the banks say they have been providing sensible lending when the 4.5 should of been in place from beginning.
When people earning an above average salary will still be paying a multiple of over 9. Really what gets me is how do the banks say they have been providing sensible lending when the 4.5 should of been in place from beginning.
Maybe unusually but I have never had a mortgage that equates to X salary. I have worked out what I want to pay, and then asked how much mortgage I could get. If it was not enough to purchase the property then the property was not for us.
Now I hear the banks are telling people not to bid at auction but await to negotiate after. Also people are now losing deposits as pre arranged finance is falling through due to valuations by bank not agreeing with inflated auction valuations. Where this scheme of being market value comes from reinforces my thoughts on banks in above.
We have lived very frugally (banking my salary living on my wife's) for last 3 years saving about the average house price in Auckland, while a friend is still sitting with the same mortgage level he started with 2 years ago - Interest only is a bank con you would be wise to avoid.
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