Me and my partner are looking to enter the property market, I was wandering if there were any websites that provide a general overview of mortgages and offer online advice ????? This is the first time that either me or my partner have entered the property market and we are finding the whole thing a bit scary!!!
Any help would be most appreciated.
Rather you than me, but then nobody ever accused me of being brave. :-)
Andrew McP
By "enter the property market" I gues you mean you are going to buy a house or flat to live in, yes? While getting the money side of it right is important it's also rather important to find a place where you will enjoy living, in fact I think that's more important than getting the finance *exactly* right.
Have a look at
Good guide to value for money is
Daytona
For many of us as house is a home, not an investment. As with most things in life, there is never a right time, ignore this Crowley wanker.
Agree 100%. However the current bubble is likely to have been at least partially fuelled by investment money escaping from the stock market post dot-com crash. That's why the current situation is -- IMO at least
-- so worrying for FTBs.
Andrew McP
When you get tired of paying rent, as long as you are in stable employment you should just buy a house you can afford... if the market value comes down a little while you are there so what?, its your home. As long as you can afford your mortgage payments thats all you should worry about.
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On the other hand, if you firmly believe that prices are on their way down - and depending on the estimation of the speed of the fall - there could be an argument for renting for a few years yet. Particularly for cash buyers who can pay rent out of current interest.
It's certainly not cut-and-dried as you suggest above.
...and if prices comes down a lot, the penury of possible negative equity not to mention the chagrin of having paid through the nose for something.
You must be yet another mortgage broker.
At the moment, lots of anecdotal and media sources seem to be suggesting that the housing market is falling, but the indices suggest that it is fairly stable, or rising slowly, in %age terms.
Given that a slow rise in %age terms can mean a few thousands of pounds a year at todays' prices - at what point should buyers consider that the market is not actually falling, and that they should buy now or pay more later?
In my part of Manchester, volume is down, but a reasonable number of sales seem to be taking place at higher prices than 12 months ago.
That's a bizarre interpretation of the market but I recognise your reason for adopting it.
The only editorial I read which suggests anything other than a house market in serious trouble originates from vested interests and I believe your question is as inappropriate now as it would have been in 1990. I'm absolutely sure it's anathema to you but if you were to hop over to housepricecrash.co.uk there is an archive there of interested optimistic editorial at the commencement of the last crash which should make your eyes pop. Not so much a failure to see what was coming as an utter denial of what was then current - where vested interests are concerned, as it was then, so it is now.
Where the SE leads the rest of the country follows so it comes as no surprise that you're still lagging behind there.
Incidentally, I don't say there will be a crash although there is already mounting evidence that prices post 2004 (completing, not asking) have fallen back in many areas - particularly those that lead the market. But I do believe that we have just passed a market top and that there will be a correction either nominally (crashette) or in real terms through erosion by inflation - similar to what happened between 73 and 77 (when I bought my first house). Which is why I believe it to be perfectly sensible for would-be FTBs to hold back. The market might not crash but it certainly aint going anywhere fast and with a crash as a non-zero possibility that would be a big win for a tiny stake.
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