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Getting a mortgage here, for a house back home

Getting a mortgage here, for a house back home

Old Oct 12th 2008, 12:45 pm
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Default Getting a mortgage here, for a house back home

Me and mrs Spugsy are considering buying another flat back home in Newcastle, obviously the whole credit crunch thing is bad news, but if house prices are dropping then it may be a good time to invest if we are over here and earning decent money,

First off - would you think it's safer to do that than buy somewhere over here?

How long do you think it'll take for the market to pick up again?

And would it be possible for us to get say a £100k mortgage/loan between us and use the money to spend on a property back home?

Cheers financial dudes....
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Old Oct 12th 2008, 12:58 pm
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Default Re: Getting a mortgage here, for a house back home

I didn't have you pegged as a capatalist b**tard mate!

Good thinking batman - there's a killing to be made back home if you've got some spare dosh
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Old Oct 12th 2008, 1:04 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Spugsy View Post
Me and mrs Spugsy are considering buying another flat back home in Newcastle, obviously the whole credit crunch thing is bad news, but if house prices are dropping then it may be a good time to invest if we are over here and earning decent money,

First off - would you think it's safer to do that than buy somewhere over here?

How long do you think it'll take for the market to pick up again?

And would it be possible for us to get say a £100k mortgage/loan between us and use the money to spend on a property back home?

Cheers financial dudes....
Probably too soon to buy a place in Newcastle...............

I'd advise you to wait until they've built some new properties, such as ones with electric lighting and toilets inside the house..........

More seriously - it's far too early to buy property in the UK. I reckon somewhere around February 18th 2010, just before teatime, will be a better bet for bargains.........
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Old Oct 12th 2008, 1:04 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by NedKelly63 View Post
I didn't have you pegged as a capatalist b**tard mate!

Good thinking batman - there's a killing to be made back home if you've got some spare dosh
well people seem to be making money over here, rather than spend 3 years saving why not invest? If we get tenants to pay most of the mortgage, and hopefully prices go up in say 3 years we could make some cash - and it must be safer than buying over here?
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Old Oct 12th 2008, 1:05 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by The Dean View Post
Probably too soon to buy a place in Newcastle...............

I'd advise you to wait until they've built some new properties, such as ones with electric lighting and toilets inside the house..........

More seriously - it's far too early to buy property in the UK. I reckon somewhere around February 18th 2010, just before teatime, will be a better bet for bargains.........
yeah we're looking around then, we both have debts to be paid off first (and a big holiday, heh).

Ahem, aren;t you from Luton?? where everyone talks like lorraine chase??
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Old Oct 12th 2008, 1:30 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Spugsy View Post
well people seem to be making money over here, rather than spend 3 years saving why not invest? If we get tenants to pay most of the mortgage, and hopefully prices go up in say 3 years we could make some cash - and it must be safer than buying over here?
stuff on the Quayside has dropped dramatically, take a peep on www.rightmove.co.uk
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Old Oct 12th 2008, 2:09 pm
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Default Re: Getting a mortgage here, for a house back home

Spugsy - why haven't you emailed me about this?

-
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Old Oct 12th 2008, 2:49 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Meow View Post
Spugsy - why haven't you emailed me about this?

-
we just decided last neet!

Pm me then please petal.
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Old Oct 12th 2008, 4:27 pm
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Default Re: Getting a mortgage here, for a house back home

Spugsy - why haven't you emailed me about this?
I emailed yhou about a similar ideas a few months ago and you never responded!!

Anyways, I wanna do the same thing but will be buying in Gloucestershire, want to buy in Cheltenham but may be Gloucester.

Plua I already have my mum and her partner ready to take the house on and pay my mortgage for me

So any advice, I'm paying some credit cards off and am looking at next year sometime.

Bison
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Old Oct 12th 2008, 4:53 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Spugsy View Post
well people seem to be making money over here, rather than spend 3 years saving why not invest? If we get tenants to pay most of the mortgage, and hopefully prices go up in say 3 years we could make some cash - and it must be safer than buying over here?
we've decided to buy another place in the uk rather than here...prices are defo in our favour...

MM, xx
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Old Oct 12th 2008, 4:55 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Bison View Post
I emailed yhou about a similar ideas a few months ago and you never responded!!

Anyways, I wanna do the same thing but will be buying in Gloucestershire, want to buy in Cheltenham but may be Gloucester.

Plua I already have my mum and her partner ready to take the house on and pay my mortgage for me

So any advice, I'm paying some credit cards off and am looking at next year sometime.

Bison
Remind us again if she asks someone else...We are compiling performance sheets on posters who deliver on their word...
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Old Oct 12th 2008, 4:56 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Madam Medusa View Post
we've decided to buy another place in the uk rather than here...prices are defo in our favour...

MM, xx
Prices in Beirut are starting to get attractive again...
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Old Oct 12th 2008, 4:57 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Confucius View Post
Prices in Beirut are starting to get attractive again...
then get buying...

MM, xx
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Old Oct 12th 2008, 4:59 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Madam Medusa View Post
then get buying...

MM, xx
All in good time, baby...All in good time...
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Old Oct 12th 2008, 5:00 pm
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Default Re: Getting a mortgage here, for a house back home

Originally Posted by Madam Medusa View Post
we've decided to buy another place in the uk rather than here...prices are defo in our favour...

MM, xx

I know it won't affect you so much MM but those lending are really tightening up. LTV - 90% last week, today, 75% seems the norm.
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