Buying A House

And that is pretty much about right Si.

Though i would add that any drops will be bigger in the south-east.

Also more locally, i cant see there being much affect at the affordable end of the market. Stuff above £200k is sticking at the minute, but below that things are still shifting ok.

Id be pretty pleased if somebody was paying 85% of my mortgage for me.

yes we may be paying most of the LANDLORDS mortgage, but he purchased the house in the 90s when Fenham was but a waste land.

my point was if i wanted a mortgage now in the same area, it would be a lot more than renting.

if i had bought a house in the mid 90s, when i was 15, i'd be laffing now..

Mine has gone up by more than that (though its not in Gateshead) and is more than likely to hold due to it being grossly undervalued previously and there being very high demand for property here. It really depends on where you live. I happened to pick an area I was pretty sure would be a good investment, and was proved right!

Start by having a look at planned and potential future development in areas you are thinking of living, and judge whether you think this will increase or decrease property values. For example, high quality new housing may decrease the prices of old, poor quality housing. However, increased services to the area could increase the value. Are there any new leisure developments or business parks planned? Properties slap bang on top of them may well decrease due to expected noise levels, whereas those a few minutes walk away could increase.

No-one can accurately predict house price fluctuations.

If you're paying rent now, you may as well be paying a mortgage. Rent money is money down the drain, lining someone else's back pocket.

:doh:

Just like money spent on petrol, buy a bike.

Just like money spent on toilet paper..... its flushed down the bog.



ITS MADNESS!!! mong

i bought a re-possessed ground floor 2 bed flat bang in the centre of wallsend - £15K about 6 years ago... did it up myself - flogged it this summer for £75K

sweet like chocolate innit the fool was buying to rent!

I'm gonna have a chat with a morgage advisor and see what the crack is

A morgage advisor will tell you everything ok/ risk free and you will make thousands of pounds.


*Please sign here*

The mortgage advisor we used was pretty good, think he lives in Darlington - I can PM you his details if you like. No cost in seeing him - he only makes money from the bank/building society you go with. He wasn't pushy and came round to our flat when we wanted.

well what should I do for the best then ?

so you have decided to buy 100% then? you havent made it clear

yeah I'm not paying some fat land lord all my hard earned and have nowt to show for it

well you will need to see a morg advisor, you will struggle if you dont have apenny for a deposit tho.

Northern Rock may entertain you tho and inc. your 15k debt..... you could go to N R for a consultation and cut out the Morg Advisor.

Yeah do that, go to N R asap.

And id reco you buy a first floor flat in Bensham/Gateheeed.

My old man will back hand me a few K to see me ok, would that make much of a difference ?

3k would be a great figure, esp with the type of morgage you will be getting.

Im pretty sure ONLY N Rock offer the type of deal your looking for.

3k down will reduce your % and increase your chance of being approved.

yeah 3k would be easy, probs get a bit more tbh.

no way am I gonna live in Bensham, unless I can get my car in the house with me

any other areas worth investing in ?

"Fenham" !!

you wont get a garage anywhere tho unless u move right out of town, so forgot that.

Anyhwere where you can buy a house for less than 80k and is not too ruff should be considered!