Originally posted by Paralytic
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Frozen U.K. Home Market Leaves Buyers Wondering Where to Go
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Scoots still says that Apr 2020 didn't mark the start of a new stock bull market. -
Originally posted by BrilloPad View PostReback’s problem is that he agreed to complete the sale of his existing five-bedroom home on April 6, but hasn’t exchanged contracts on the purchase of the new one. The sellers have now decided they don’t want to commit to moving because of the pandemic, he said.
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Originally posted by Paralytic View PostEr, no they would not, just the interest component of the repayment increases (unless you're one of the very few who in on an interest-only deal).
A £200K outstandling mortgage with 20 years term remaining is around £965 per month at 1.5%, jumping to around £1,200 at 3.86%.
I'd caution anyone taking advice (or even notice) from some on these pages who state with certainty where the market is going. They have a 50% chance of getting it right.Last edited by Whorty; 31 March 2020, 16:22.I am what I drink, and I'm a bitter manComment
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Originally posted by DealorNoDeal View PostIt shows how out of touch I am with the mortgage market. Last time I had one, interest-only was all the rage.Comment
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Originally posted by Paralytic View PostEr, no they would not, just the interest component of the repayment increases (unless you're one of the very few who in on an interest-only deal).
A £200K outstandling mortgage with 20 years term remaining is around £965 per month at 1.5%, jumping to around £1,200 at 3.86%.
I'd caution anyone taking advice (or even notice) from some on these pages who state with certainty where the market is going. They have a 50% chance of getting it right.
As I understood it the 'doubling overnight' was figurative, and not taken to mean a doubling of mortgage payments with a doubling of interest rates, I'd hope that was obvious."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by Whorty View PostNow here's someone who hasn't seen Scooter's graphs! They're great - one look and you'll be hooked on his expert advice"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostThey are hypnotic.I am what I drink, and I'm a bitter manComment
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UK housing market will crash within 6 months, so if cash rich hold tight till then.
I have no graphs readily available to illustrate this unfortunately.The Chunt of Chunts.Comment
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Originally posted by rootsnall View PostSurely he's pulled a blinder financially if that is the case !? Or am I missing something. He's got a pre recession price for his and will be able to pick up a distressed sale somewhere along the line.Comment
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Originally posted by MrMarkyMark View PostUK housing market will crash within 6 months, so if cash rich hold tight till then.
I have no graphs readily available to illustrate this unfortunately.
The market will also be in a downtrend for 3-4 years."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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