Butternut27
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I am waitingto buy.. sold one and took all the equity out ..in a while will buy it or a bigger one back...the houses are over valued, the lenders are now strict and wanting huge arrangement fees to give you a mortgage and asking lots of questions...many 1st time buyers are being asked for 25 per cent deposits...another lender will hit the wall like Northern Rock..the buy to let investors bought overpriced flats through investment clubs like IT, FT and others and were conned even the valuers were over valuing the prices, banks asked no questions and now the bubble has burst, the investors are coming off good rates on their mortgages and can not get the same at the same time the rents will not cover the mortgages on the new rates...the effect..we will see shortly...where I am the prices are coming down already slowly...but it is always the way... it treacles down slowly and rises fast with property... all these investors/landlords with property in large developments all chasing the same tenants..repossessions are up too..I went to an auction last month and they had twice the number of residential property they have ever had since 1992 they said...most buy to let, some with tenants...once the supply of houses increases like this and money becomes scare prices will fall whether pple like it or not and regardless of denial...wait and buy when it all falls... |
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Fiona M
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Depends on how many Jack the lads think they are property developers and can outwit the professionals. All of these property ladder programmes fill them with false hopes. Maybe they willrealise this and back off. |
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fuzzymum
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If ur in no hurry, i'd wait a while longer till they drop further. why not? |
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Prodigal Son
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I'd wait for a while, so they drop more. |
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Susie2
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i bought and now have a Mortgage...it seems it's better to rent these days than it is to buy, at least you won't have that debt hanging around your neck, and u can move when u feel like it. |
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Is it a Boy? Is it a Girl?
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i just bought... i either keep renting or buy now and risk paying more... either way im spending money, so we just bought and can do what we want with our house! |
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Veritas
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They are dropping, and will drop further. Don't listen to anyone with a vested interest in talking them up. I would wait at least six months. |
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Reece
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If you can afford to buy and want to live in it for at least a few years then it's a good investment. Historically over the last 50 years, house prices have doubled in the UK every 5-6 years.
Your mortgage will stay roughly flat (apart from fluctuations in interest rates) while your rent over the same period will continue to increase. Would you rather be 20 years down the line with a house worth 4 times as much and paying the same mortgage as now, or just paying 4 times more rent? |
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kj
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i'd wait the house prices cant keep on like they are and will drop so try and save for a decent deposit in the meantime |
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taz man
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Property to live in is always a good idea but at the moment using property as an investment is not such a good idea. |
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Fran E
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Don't buy now, the housing market is a big con. It is really wrong what has happened here, people like Phil and Kirsty on channel 4 are a joke. How are the prices still so high? all its held up by is debt by people who can't afford to and should never have been given a mortgage.
Its again the same situation as it used to be only the rich can afford to buy houses. I hope all these jumped up property developers fall flat on their faces along with the estate agents.
Save your money for now, I am.... |
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