FabSwingers.com forum: Property Market

By *idsAndy OP Man
over a year ago

Worcestershire

Anyone currently buying or selling a house? I'm staying with family having completed on my house a couple of weeks ago.

I'm viewing properties but interested to see how the market pans out now....

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By *icecouple561Couple
Forum Mod
over a year ago

East Sussex

If rates increase and mortgages are withdrawn then first time buyers are removed in large part from the market. No first timers, no housing market or a very slow one

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By *idsAndy OP Man
over a year ago

Worcestershire

Yeah with rates going up it's got to have a large affect.

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By (user no longer on site)
over a year ago

[Removed by poster at 29/09/22 13:22:54]

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By *irtuousBullMan
over a year ago

lake district

"Anyone currently buying or selling a house? I'm staying with family having completed on my house a couple of weeks ago.

I'm viewing properties but interested to see how the market pans out now.... "

Two things, I'd hang fire as I think more will have to sell as their mortgages go up to an unsustainable level. Chains may also collapse.

If you can sit tight, I'd do it for as long as possible, or at least until this stabilises.

If you don't have a mortgage in principal then this will also impact how much you can borrow with high rates

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By *ryandseeMan
over a year ago

Yorkshire

It's a sad state of affairs and let's hope it does not cause further hardship to people. Those that fixed last year for long time are the lucky ones.

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By *idsAndy OP Man
over a year ago

Worcestershire

"Anyone currently buying or selling a house? I'm staying with family having completed on my house a couple of weeks ago.

I'm viewing properties but interested to see how the market pans out now....

Two things, I'd hang fire as I think more will have to sell as their mortgages go up to an unsustainable level. Chains may also collapse.

If you can sit tight, I'd do it for as long as possible, or at least until this stabilises.

If you don't have a mortgage in principal then this will also impact how much you can borrow with high rates"

That's exactly what I'm planning on doing mate.

already there's more 'reduced today' on Rightmove than I've seen before.

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By *orny PTMan
over a year ago

Peterborough

I'll never be able to get a mortgage as a single wage stopped being enough in the early 2000's.

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By (user no longer on site)
over a year ago

I saved up whilst paying my folks rent, food shopping, holidaying at least twice a year, have gaps in my employment history. I'm still in the under 35 club and I'm a single male with a mortgage

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By *idsAndy OP Man
over a year ago

Worcestershire

I honestly don't know how couples afford a first property let alone single people....

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By *arkus1812Man
over a year ago

Lifes departure lounge NN9 Northamptonshire East not West MidlandsMidlands

My house value has dropped £15.000 today as an identical one a few doors away has just had its selling price dropped by £15.000.

Fortunately I am mortgage free.

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By *rontier PsychiatristMan
over a year ago

Coventry

I not convinced we'll see a massive drop in prices. I don't see there being huge movement if there is a crash in property sales because of the reasons behind it. If no one can get a mortgage or afford to move or find a buyer all I can see is people hanging on to property, staying put and thus even less property coming on to the market. Granted maybe a few more repossessions enter the market. But this lack of property movement or people staying put and off the market may help keep house prices fairly high. I see prices falling a bit, just not crashing through the floor. I do predict lots of empty windows in estate agents.

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By *idnight RamblerMan
over a year ago

Pershore

Yeah, but market seems very quiet. Thinking of postponing plans til Spring

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By *ornLordMan
over a year ago

Wiltshire and London

"It's a sad state of affairs and let's hope it does not cause further hardship to people. Those that fixed last year for long time are the lucky ones. "

Fixed last year for two years, but fortunately it's a fairly small mortgage so should be relatively easy to cover. My thoughts are with those who are going to be shafted by the sociopathic inepts we now have in power.

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By (user no longer on site)
over a year ago

"It's a sad state of affairs and let's hope it does not cause further hardship to people. Those that fixed last year for long time are the lucky ones.

That would be us

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By *iger4uWoman
over a year ago

In my happy place

"I'll never be able to get a mortgage as a single wage stopped being enough in the early 2000's."

Move north. I bought mine in 2020. 25% deposit. One wage.

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By *instonandLadyAstorCouple
over a year ago

Not where we seem to be...

I'm currently technically bankrupt, no-one is lending on apartments like mine due to cladding issues.

If you can't sell, the property is technically worthless.

I'm sat on a £240k mortgage on a property worth less than fuck all.

Thankfully I've no plans to sell or move, so hopefully the situation will be sorted out eventually.

Fingers crossed.

Winston

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By *ornLordMan
over a year ago

Wiltshire and London

"I'm currently technically bankrupt, no-one is lending on apartments like mine due to cladding issues.

If you can't sell, the property is technically worthless.

I'm sat on a £240k mortgage on a property worth less than fuck all.

Thankfully I've no plans to sell or move, so hopefully the situation will be sorted out eventually.

Fingers crossed.

Winston "

I know somebody in just that situation but who would like to move.

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By *lym4realCouple
over a year ago

plymouth

Hang tight as alot of 1st time buyers will find themselves in negative equity if house prices dip especially if they took advantage of the various Government schemes as the developers inflated the prices to increase their profits ?? and if the rates increase ......

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By *ornLordMan
over a year ago

Wiltshire and London

"It's a sad state of affairs and let's hope it does not cause further hardship to people. Those that fixed last year for long time are the lucky ones.

That would be us "

We can only hope they are ousted before they can do too much damage to such as yourselves.

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By *inky_couple2020Couple
over a year ago

North West

"I'm currently technically bankrupt, no-one is lending on apartments like mine due to cladding issues.

If you can't sell, the property is technically worthless.

I'm sat on a £240k mortgage on a property worth less than fuck all.

Thankfully I've no plans to sell or move, so hopefully the situation will be sorted out eventually.

Fingers crossed.

Winston "

We sold ours for cash, well below the realistic value because leaseholders had been told to expect individual bills above £98k each. We know lots of people in the same boat, unfortunately.

Not buying anything leasehold ever again!

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By *andering Welsh GuyMan
over a year ago

All over the place

With rates flying up if guess prices are about to come back down so if you have sold recently you have done well

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By *andering Welsh GuyMan
over a year ago

All over the place

"I'm currently technically bankrupt, no-one is lending on apartments like mine due to cladding issues.

If you can't sell, the property is technically worthless.

I'm sat on a £240k mortgage on a property worth less than fuck all.

Thankfully I've no plans to sell or move, so hopefully the situation will be sorted out eventually.

Fingers crossed.

Winston "

Whats the issue with the cladding? I work in the property industry, has the managing agent done a FRAEW?

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By (user no longer on site)
over a year ago

Current goings on have been enough to stop me buying. I just need to sit tight with what i have. I know everything i own will take a drop in value. Luckily i dont have any mortgages on them so i dont have to increase rents

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By *instonandLadyAstorCouple
over a year ago

Not where we seem to be...

"I'm currently technically bankrupt, no-one is lending on apartments like mine due to cladding issues.

If you can't sell, the property is technically worthless.

I'm sat on a £240k mortgage on a property worth less than fuck all.

Thankfully I've no plans to sell or move, so hopefully the situation will be sorted out eventually.

Fingers crossed.

Winston

Whats the issue with the cladding? I work in the property industry, has the managing agent done a FRAEW? "

Where to start.......

Cladding doesn't meet fire regs.

No fire breaks installed, despite the cladding company they must be installed.

Grenfell waiting to happen.

And dipshit tenants keep having fucking barbecues on their balconys.

We've just been informed the original builder is going to do the necessary remedial works at his cost.

Great news.

Now ask me when........

Winston

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By (user no longer on site)
over a year ago

"It's a sad state of affairs and let's hope it does not cause further hardship to people. Those that fixed last year for long time are the lucky ones.

I managed to fix last month for 3 years.

Yes I've seen that some home owners can expect to pay double what they were paying the previous month. Its absolutely insane how rotten this year has been.

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By *orny PTMan
over a year ago

Peterborough

"I'll never be able to get a mortgage as a single wage stopped being enough in the early 2000's.

Move north. I bought mine in 2020. 25% deposit. One wage. "

Where? Then I'll get asked how long have you been with your current employer...?

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By *inky_couple2020Couple
over a year ago

North West

"I'll never be able to get a mortgage as a single wage stopped being enough in the early 2000's.

Move north. I bought mine in 2020. 25% deposit. One wage.

Where? Then I'll get asked how long have you been with your current employer...?"

Noooooooooo please don't push our prices up! Our wages don't have London/SE weighting and are lower, on average, than the southern areas. We can't afford southern prices!

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By *crumdiddlyumptiousMan
over a year ago

I sold mine last month, and will hopefully complete the deal on the new place withing a few weeks, I have a 10 year mortgage in place, Just under £800 a month but at least I know what I will be paying until it runs out,

A log fire will be the first thing a put in with the cost of gas at the moment and I will adjust my out goings as the months go by to help pay for the mortgage

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By *urga2076Woman
over a year ago

London

When our currency has collapsed this much don’t be surprised if foreign money start buying the houses instead.

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By *crumdiddlyumptiousMan
over a year ago

When/if the house market drops or collapses the property developers will clean up before most get a chance to get on the market

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By *orny PTMan
over a year ago

Peterborough

"When our currency has collapsed this much don’t be surprised if foreign money start buying the houses instead. "

That's already happened: when both Tories and Labour started to allow dirty money into the country, turning the streets of London into a real life Monopoly board.

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By *orny PTMan
over a year ago

Peterborough

"When/if the house market drops or collapses the property developers will clean up before most get a chance to get on the market "

absolutely, which is why Kier Starmer said..

I’ve seen home ownership rise almost my entire life – it’s the bedrock of security and aspiration. That pebble-dashed semi meant everything to my family. But now, under the Tories, the dream of owning your own home is slipping away for too many.

“And that’s a political choice. Because if you keep inflating demand without increasing supply house prices will only rise. And homes become less affordable for working people.

“No more buy-to-let landlords or second homeowners getting in first. We will back working people’s aspiration. Help real first-time buyers onto the ladder with a new mortgage guarantee scheme. Reform planning so speculators can’t stop communities getting shovels in the ground.”

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By *orny PTMan
over a year ago

Peterborough

"Buy your own council home (and we'll not build enough council houses to replace them)."

"Lets' privatise the fuel companies and have a free-for-all market,( without doing the checks on the upstarts)."

"We don't like governments owning the utilities (Unless it's the4 French, who own most of EDF)"

Which party said this?

Hasn't it all come home to roost?

Can you Truss them?

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By *eah BabyCouple
over a year ago

Cheshire, Windermere ,Cumbria

"Anyone currently buying or selling a house? I'm staying with family having completed on my house a couple of weeks ago.

I'm viewing properties but interested to see how the market pans out now....

Two things, I'd hang fire as I think more will have to sell as their mortgages go up to an unsustainable level. Chains may also collapse.

If you can sit tight, I'd do it for as long as possible, or at least until this stabilises.

If you don't have a mortgage in principal then this will also impact how much you can borrow with high rates"

Mortgage in principal are not worth the paper they are written on, they do not guarantee you will be given a mortgage they just let you view houses and put offers in only to land the seller with solicitor fees for a failed sale when they pull the plug on the buyer 8 weeks in as we found out a few months back when selling a house, the solicitor will even tell you they stand for nothing.

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By *irtuousBullMan
over a year ago

lake district

"I'll never be able to get a mortgage as a single wage stopped being enough in the early 2000's.

Move north. I bought mine in 2020. 25% deposit. One wage.

Where? Then I'll get asked how long have you been with your current employer...?

Noooooooooo please don't push our prices up! Our wages don't have London/SE weighting and are lower, on average, than the southern areas. We can't afford southern prices! "

Aye, fuck off past Watford gap, it's cold and wet up here

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By *rlandoMan
over a year ago

Lincolnshire

There ll be lots of cheaper repossessed homes on the market within 12 months , I remember the 80 s..

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By *orny PTMan
over a year ago

Peterborough

[Removed by poster at 29/09/22 22:36:19]

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By *mp411Man
over a year ago

chester

""Buy your own council home (and we'll not build enough council houses to replace them)."

"Lets' privatise the fuel companies and have a free-for-all market,( without doing the checks on the upstarts)."

"We don't like governments owning the utilities (Unless it's the4 French, who own most of EDF)"

Which party said this?

Hasn't it all come home to roost?

Can you Truss them?

Do you honestly believe that you can trust any polititan? They are very definition of a corrupt, lying, theiveing, bastard,.... I'd rather lick plutonium than see any of them in any position of power or influence.

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By (user no longer on site)
over a year ago

Interest rates are very quick to rise as we've all seen, but very slow to come down. If you do re-mortgage before they reach the predicted 6.25% in the spring of 2023 (if not sooner) then go for a 5 year fixed.

Most new mortgage offers are valid for 6 months, so if your current deal expires in the next 6 months, its worth applying for a new mortgage before they go up any higher. Once you have a mortgage offer, lenders won't withdraw them and you can sit and wait to see what happens nearer to when your product is due to expire. If its higher than the rate you apply for today then fall back on this mortgage offer BUT if its lower than reapply.

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By *orny PTMan
over a year ago

Peterborough

""Buy your own council home (and we'll not build enough council houses to replace them)."

"Lets' privatise the fuel companies and have a free-for-all market,( without doing the checks on the upstarts)."

"We don't like governments owning the utilities (Unless it's the4 French, who own most of EDF)"

Which party said this?

Hasn't it all come home to roost?

Can you Truss them?

in a word: NO.

Bon apetit!

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