Houses again

J J

jay66uk

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5 Jan 2006
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307
Location
High Peak, Derbyshire
<a class="postlink" href="http://news.bbc.co.uk/1/hi/business/7692814.stm" onclick="window.open(this.href);return false;">http://news.bbc.co.uk/1/hi/business/7692814.stm</a>

"House prices will not get back to the levels they peaked at in 2007 until 2013, the Centre for Economics and Business Research (CEBR) has predicted.

The group also forecast that prices would fall in value by 25% from their peak to a trough at the end of 2009.

It would mean an estimated 2.5 million homeowners could face negative equity. "
 
BlackSheep said:
http://news.bbc.co.uk/1/hi/business/7692814.stm

"House prices will not get back to the levels they peaked at in 2007 until 2013, the Centre for Economics and Business Research (CEBR) has predicted.

The group also forecast that prices would fall in value by 25% from their peak to a trough at the end of 2009.

It would mean an estimated 2.5 million homeowners could face negative equity. "
Click to expand...

Which will only matter if you move. People have to live somewhere
 
BlackSheep said:
http://news.bbc.co.uk/1/hi/business/7692814.stm

"House prices will not get back to the levels they peaked at in 2007 until 2013, the Centre for Economics and Business Research (CEBR) has predicted.

The group also forecast that prices would fall in value by 25% from their peak to a trough at the end of 2009.

It would mean an estimated 2.5 million homeowners could face negative equity. "
Click to expand...
But, if they stay put for a couple of years, they'll be in positive equity as house prices will be back at their peak by 2013, that's only 5 years off.
 
What is this obsession you have with people owning their own houses?
Perhaps we should just be employed by the local Lord of the manor and be thankful he gives us a one bedroomed cottage until we can no longer work and then be evicted.
 
NQT said:
What is this obsession you have with people owning their own houses?
Perhaps we should just be employed by the local Lord of the manor and be thankful he gives us a one bedroomed cottage until we can no longer work and then be evicted.
Click to expand...

Often wondered where the banks/bs' got the idea from..
 
NQT said:
BlackSheep said:
http://news.bbc.co.uk/1/hi/business/7692814.stm

"House prices will not get back to the levels they peaked at in 2007 until 2013, the Centre for Economics and Business Research (CEBR) has predicted.

The group also forecast that prices would fall in value by 25% from their peak to a trough at the end of 2009.

It would mean an estimated 2.5 million homeowners could face negative equity. "
Click to expand...

Which will only matter if you move. People have to live somewhere
Click to expand...

I will matter if a fixed rate come to an end and you need to remortgage but can't because of neg eq and can't afford the standard rate hence why reposessions are climbing!
 
So all this crap about improving your home and selling it on turned out to be bollox then eh? All it did was serve the estate agents and buy them a new Merc. People sold there newly done up house as advised by countless T.V programs showing posh people mortgaged up to the hilt living in caravans for a year while there financial salvation materialised around them, only to spend at least the same money they made when they flogged the place on somewhere the same standard. I knew all this was comming because the likes of me who had a shitty job earning around 14/15/16 grand for much of my life couldnt get anywhere near a mortgage despite the fact i was paying £400 a month to rent a place.......hopefully that will be the next RIP-OFF that will burst in Britain...the rented sector. As a wise man recently said..we arnt in housing recesion..prices are simply getting back to where they should be..before greedy home owners and scummy landlords started seeing a fast buck and gilding the Lilly so much that the arse fell out of the market. Helped of corse by the Dell Boy estate agents who sore a easy buck and oiled the wheels of the market. All agents..no matter what they do should be banned...............for agents see something for nothing!!!

I heard today people are "Trapped" in negative equity...how about this for a radical idea...dont over mortgage yourself take out FULL insurance against the unthinkable cos in a 25 year cycle the unthinkable may just happen and if your house is worth less than your mortgage DONT TRY AND SELL IT!!!!!! Stay where you are, stop trying to make a fast buck, dont credit card your self up then rely on a re-mortgage to get you out the shit....

SPEND WHAT YOU HAVE, NOT WHAT YOU THINK YOU WILL HAVE SOON!!!!!!!
 
only a fool would have bought a house on a fixed rate because they couldn't afford the current SVR!
 
svr is set by the lenders, it can be any amount. I read on sunday some lender was offering svr at over 13%. the problem you have is that lende4rs are only offering tracker deals or fxd rate deals as far as they can antcipate the future money markets. in other words if you can get a tracker for the next 4 years all well and good however you have no idea what the BBR will be in 6mnths let alone 4 yrs.

A fxd rate on the other hand gives a little comfort in knowing exactly what you're going to be paying for that period.

In the simple answer is keep your LTV low best below75% if poss
 
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