Advice on house hunting Page 256

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  • souvlaki 31 Mar 2020 10:40:28 1,017 posts
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    Once the lenders get back to wanting to make money and so offering more mortgages again then surely all this will spring back?

    Everyone was waiting until after Brexit and then the market went crazy around where I live - and people being stuck at home now will mean that they start thinking of needing a bigger or smaller place, divorces will rocket and so more houses required etc.

    Of course, this could be wishful thinking on my part as I want to move back up north and cash in.
  • Dirt3 31 Mar 2020 11:16:09 987 posts
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    House prices are generally driven by how much bankers are willing to lend.

    How much bankers are willing to lend is generally driven by how much money they think people have. And since the coronavirus shutdown will take masses of money out of peoples hands its unlikely that house prices are going to go up in the near future.

    My guess is prices down south will fall further than those up north, because they have further to fall. Prices in the south were already ridiculous with people stretching themselves crazy amounts and relying on the bank of mum and dad to get on the ladder, they are hardly likely to go up more when a massive slug of activity is removed from the economy.

    The good news is I think if you are thinking of going up north your southern price would have to fall by a hell of a lot for you to not be able to make that transition. Unless you are thinking of going from a 1 bed flat to a castle or something.
  • ZuluHero 31 Mar 2020 12:16:28 8,655 posts
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    Dirt3 wrote:
    @ZuluHero

    Your biggest problem will be getting the mortgage. Lenders are pulling mortgage products like crazy. I hear Nationwide are temporarily pulling everything above 75% LTV.
    Nope, spoke to my mortgage advisor today as they tried to get me to pay my product fee. Cynically I thought they are trying to get me locked in at a higher rate before it drops.

    My LTV is about 60%.
  • ZuluHero 31 Mar 2020 12:19:51 8,655 posts
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    Also I'm porting my existing mortgage, this is a 2nd mortgage on top.
  • ZuluHero 31 Mar 2020 12:20:40 8,655 posts
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    Dougs wrote:
    When I last looked, they hadn't even passed on the drop to 0.25%.
    Nope :(
  • Deleted user 31 March 2020 12:46:45
    Completed and moving stuff in as we speak. Gotta keep distance from removal dudes.
  • elstoof 31 Mar 2020 13:05:51 25,589 posts
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    Toying with the idea of selling up and fucking off again, the way Britainís dealt with the whole crisis throughout society just makes me despair
  • souvlaki 31 Mar 2020 13:28:32 1,017 posts
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    elstoof wrote:
    Toying with the idea of selling up and fucking off again, the way Britainís dealt with the whole crisis throughout society just makes me despair
    But it is all the foreigns fault, where would you go :p
  • elstoof 31 Mar 2020 14:35:31 25,589 posts
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    Thatís the problem really, thereís too many British cunts in anywhere half decent. Less than here at least
  • souvlaki 31 Mar 2020 15:14:54 1,017 posts
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    I moved to Greece once and ended up returning in part as the British over there were far worse than the ones (like myself) who I interact with daily in the UK.
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