MORTGAGE RATES STICK OR TWIST ?

midlifecrisis

midlifecrisis

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16,229
Wattie said:
Dave you know I value your opinion but if youve got this advice from elsewhere I think it’s cr4p.
Banks will do everything in their power not to repossess homes.
For a start, there will be too many Defaulting.
Hundreds of thousands.
kicked out, where will all these people go?
Ukraine.:as001 (2):
secondly, think Covid.
Mortgage forgiveness payments will commence soon.
”pay what you can”
The more debt you have, the bigger the problem they have. You get bailed out.

The more savings you have, the more you’re about to be screwed.
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RodTungsten said:
You owe the bank 5 grand - you have a problem; owe them 250+grand and they have a problem.
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I see Wattie's Point... shock horror.... ;)
 
D

dem maser

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34,254
Houses are starting to fall

when my builders and tradesmen are so busy they are booked up for weeks then you know your in a recession and housing crash
 
gb-gta

gb-gta

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1,139
I think it’s going to be an interesting year or 2.
House prices around here (south Manchester/Cheshire) are up a lot in recent times and have been crazy recently, most family homes are nearly always advertised as ‘offers over’ and sell fast, with much bun fighting, but I sense it’s cooling off now…
 
D

dem maser

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34,254
Sellers market to buyers in a month here

Went away on holiday with the former in August and came back to the latter in September
 
Felonious Crud

Felonious Crud

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21,187
Wattie said:
Context is irrelevant to new borrowers who know nothing else and who have over extended. To them it’s normality.

I’m just putting your context in context.
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Valid point, too. 'Before, Mr/Mrs/WTF First-Time Borrower, you push yourself a bit hard, remember that interest used to be 5x higher' would be a helpful warning.
 
Scaf

Scaf

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6,583
House price still strong in my corner of Herts, not enough on the market so competition strong.

My son offered asking price for a two bed flat and was told they wanted to wait to see if anyone would outbid him.

Thankfully they did accept because of his first time buyer status.
 
GeoffCapes

GeoffCapes

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14,000
Lots of houses selling around my part of Kent. The more expensive ones (750k+) seem to be hanging around for quite a bit and having subsequent price reductions.
 
daverichardson

daverichardson

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6,001
oop 'ere in the grim norf houses are going like billyo
Usually sold within a week.
We also have a great many new builds going on - not sure what their forecast is.
Incidentally none of them have any solar panels, heat pumps etc and this has been going on for last 5 years or so
 
safrane

safrane

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16,869
House prices near Bristol is still bonkers.

My previous 3 bed Town House is 'valued' at £380k... I sold it 2 years back for £270k!
 
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