<rant> This evening I are mostly hating bankers

Not sure why you think that. It should be more is it affordable? I had
5x single on this place for a while, down to 0.8 currently.

 

Higgins spoke:

OK - did you read the bit about the 3 agents valuation?

The only property close to ours sold recently is an extended bungalow,
which has taken up *all* the plot for the extension, so no garden at all
to speak of.

Other houses in the area - exactly like ours but not extended, are
selling for £125k. Ours has a 2-bedroom extension over the drive giving
a large brick car port leading to a large brick garage.

The proposed sale for £129k is still well within market value, we are
simply trying to get a quicker sale than sitting waiting for months, and
incidentally to help someone onto the property ladder.

--
Rob_P
UKRM(at)indqualtec.co.uk
uppercase(d) BBIWYMC#1 BOG#11? MRO#31 IBCDBBB#1(kotl)
FJ1200, CCM130 Benelli Cabriolet (gone)
Looks like Rab C Nesbit.

 

Mick Whittingham spoke:

er... not quite.

--
Rob_P
UKRM(at)indqualtec.co.uk
uppercase(d) BBIWYMC#1 BOG#11? MRO#31 IBCDBBB#1(kotl)
FJ1200, CCM130 Benelli Cabriolet (gone)
Looks like Rab C Nesbit.

 

Boots spoke:

Because when we bought our first house, a terrace for £8k, we
could only get a 75% mortgage, and our respective parents
loaned us the deposit, which we paid back over time.

--
Rob_P
UKRM(at)indqualtec.co.uk
uppercase(d) BBIWYMC#1 BOG#11? MRO#31 IBCDBBB#1(kotl)
FJ1200, CCM130 Benelli Cabriolet (gone)
Looks like Rab C Nesbit.

 

What I think is that housing needs to be dragged down to the affordable
level.
Mainly I'd like to see all new planning permission granted only for housing
offering 3 bedrooms for £100k or more/less room on the same schedule. With
reselling control. To do something sensible like redressing the woeful
housing shortage.

 

OK, I should read the whole text first, not just bits.

 

And you had to stump up a mortgage garentee premium for the benefit
of the building society in case you didnt pay up plus you had to use
thier recomended buildings insurance and usally thier fucking
solicitor and surveyor

 

Its not the building cost thats the problem its the land costs .

You can build a reasonable 3 bed semi for around £80000

 

It is affordable, both my sprogs have bought their own places and at
the same age 23, I'd suggest that often the problem is not saving. The
issue IMO was selling off social housing, without building
replacements and allowing the sitting tenants having bought at a
fraction of market value to realise their gains so quickly

Don't know what the costs are now but I sold some land for development
10 years ago and then the cost of building a 4 bed detached was £125K
and didn't include the land or legals.

 

I see it as two separate things. There's an amount of funds I already
need, that I make up to the purchase price with a mortgage. That's a
'deposit' to me as far as the mortgage company is concerned. In my
case at the moment it's about 70 grand giving me a nice LTV and hence
a decent mortgage rate.

Then there's the deposit I pay to the vendor as part of exchange.
Again in my case, that'll be 25 grand.

So different sums for different purposes. I don't think the first
should really be called a deposit.

 

Pretty nearly all the mortgages I'm looking at at the moment are now
running at 3.5 times salary again. And I'm about as good a credit risk
as you can get.

 

Did you see where I said transaction?

The banks will lend 90% of the lower of the *surveyors* valuation or
the actual selling price. You're trying to fool them that the selling
price is higher.

BTW, in today's market, the agents' valuation means nothing.

 

Compulsory Purchase in the public interest.

 

That'd be the same mortgage guarantee premium that if you ended up out
of work and they had to pay they'd chase you for the money at a higher
rate of interest than your original loan.

I was lucky in that even when my pay was cut to ribbons by being put on
'short time' I managed to keep up my mortgage payments but I knew a
couple of people that not only lost their homes they were also taken to
court to reclaim money paid by the people that had guaranteed their
mortgages. Villains of the worst kind.

 

Are we slagging off thatcher again? The selling off of council houses
was a crime and the young families of today are suffering for it while
the people who bought their homes with a massive discount sit there and
say that the best thing that ever happened was the evil bitch coming to
power and kicking out the socialists.

 

Fnar

 

We did which would have been fine if we lived in a village but we
apparently live in a hamlet so local planning won't allow it.

Kevin

 

How recently have you looked into this?

They used to be quite strict around here but the exodus of 25-35 year old
breeders from rural areas has meant they have revised the policy to
encourage the building of affordable homes for young families. There are
some conditions such as being close to a primary school[1] or existing
school bus route & other public transport routes.

[1] quite a few rural schools have closed locally due to falling rolls so
keeping the remaining ones viable is a political hot potato