Property Market Back on Track?
11 August 2009, 08:05 AM
#1
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Jan 1999
Location: UK
Posts: 15,271
Likes: 0
Received 0 Likes
on
0 Posts
Property Market Back on Track?
I met with my mortgage adviser yesterday and asked her whether things were really quiet.
She said that she is worked off her feet. She said the branch she is attached to (HSBC) historically peaked at 15 mortgage appointments a week.
Last week she did 26 appointments almost all of which went to approval. And this was not an exceptional week, it has been like it for a couple of months.
She also said properties were now going at or over asking price with one guy first time buyer losing seven properties in a row by being outbid.
Even I am likely to get approved even though I am employed by my own company and have a high calculated multiple based on 'Inland Revenue income' although low LTV. The rate she could offer me was better than anything I have seen for a life time rate AND substantially better than my offset even allowing for my offset savings.
No contest.
And she was cute to boot
She said that she is worked off her feet. She said the branch she is attached to (HSBC) historically peaked at 15 mortgage appointments a week.
Last week she did 26 appointments almost all of which went to approval. And this was not an exceptional week, it has been like it for a couple of months.
She also said properties were now going at or over asking price with one guy first time buyer losing seven properties in a row by being outbid.
Even I am likely to get approved even though I am employed by my own company and have a high calculated multiple based on 'Inland Revenue income' although low LTV. The rate she could offer me was better than anything I have seen for a life time rate AND substantially better than my offset even allowing for my offset savings.
No contest.
And she was cute to boot
11 August 2009, 08:54 AM
#3
Guest
Posts: n/a
For everything you ever wanted to know about property in today's economic climate ... https://www.scoobynet.com/non-scooby...04-levels.html
Dave
Dave
11 August 2009, 09:10 AM
#5
Scooby Regular
iTrader: (2)
Join Date: May 2000
Location: Class record holder at Pembrey Llandow Goodwood MIRA Hethel Blyton Curborough Lydden and Snetterton
Posts: 8,626
Likes: 0
Received 0 Likes
on
0 Posts
Well we shall see.
My tennants are moving out in a fortnight, the property will be on the market then - 10% lower than its valuation in Feb 2008.
My tennants are moving out in a fortnight, the property will be on the market then - 10% lower than its valuation in Feb 2008.
Trending Topics
11 August 2009, 03:29 PM
#8
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Jan 1999
Location: UK
Posts: 15,271
Likes: 0
Received 0 Likes
on
0 Posts
Why do you say that?
I am remortgaging so what advantage would there be in lying about how busy she was? Just curious as I don't see the angle.
If it was an estate agent I can completely agree. But she isn't, and I am not buying a house and she already knew that my decision would be based entirely on lifetime cost of the mortgage.
I am remortgaging so what advantage would there be in lying about how busy she was? Just curious as I don't see the angle.
If it was an estate agent I can completely agree. But she isn't, and I am not buying a house and she already knew that my decision would be based entirely on lifetime cost of the mortgage.
11 August 2009, 03:45 PM
#9
Scooby Regular
Join Date: May 2005
Location: Here, There, Everywhere
Posts: 10,619
Likes: 0
Received 0 Likes
on
0 Posts
I met with my mortgage adviser yesterday and asked her whether things were really quiet.
She said that she is worked off her feet. She said the branch she is attached to (HSBC) historically peaked at 15 mortgage appointments a week.
Last week she did 26 appointments almost all of which went to approval. And this was not an exceptional week, it has been like it for a couple of months.
She also said properties were now going at or over asking price with one guy first time buyer losing seven properties in a row by being outbid.
Even I am likely to get approved even though I am employed by my own company and have a high calculated multiple based on 'Inland Revenue income' although low LTV. The rate she could offer me was better than anything I have seen for a life time rate AND substantially better than my offset even allowing for my offset savings.
No contest.
And she was cute to boot
She said that she is worked off her feet. She said the branch she is attached to (HSBC) historically peaked at 15 mortgage appointments a week.
Last week she did 26 appointments almost all of which went to approval. And this was not an exceptional week, it has been like it for a couple of months.
She also said properties were now going at or over asking price with one guy first time buyer losing seven properties in a row by being outbid.
Even I am likely to get approved even though I am employed by my own company and have a high calculated multiple based on 'Inland Revenue income' although low LTV. The rate she could offer me was better than anything I have seen for a life time rate AND substantially better than my offset even allowing for my offset savings.
No contest.
And she was cute to boot
It'll be all the City Bankers spending their Tax payers Bonuses.
11 August 2009, 10:30 PM
#12
Scooby Regular
Thread Starter
iTrader: (1)
Join Date: Jan 1999
Location: UK
Posts: 15,271
Likes: 0
Received 0 Likes
on
0 Posts
Looks like she might have been telling the truth, especially as HSBC have the cash to lend they may be getting an unfair share of the expanding market.
Lending rises 23%
Stdlover - Well as long as you think it is a **** hole then I can continue to enjoy the wonderful peace and quiet of living there
Lending rises 23%
Stdlover - Well as long as you think it is a **** hole then I can continue to enjoy the wonderful peace and quiet of living there
Thread
Thread Starter
Forum
Replies
Last Post
Wingnuttzz
Member's Gallery
30
26 April 2022 11:15 PM
Scott@ScoobySpares
Full Cars Breaking For Spares
55
05 August 2018 07:02 AM
Mattybr5@MB Developments
Full Cars Breaking For Spares
20
22 October 2015 06:12 AM