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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm
Posts: 45931
Location: Belfast
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http://www.bbc.co.uk/news/business-26389009I'm not surprised at the NI figures - not too long ago houses right beside the railway, motorway and airport with the dimensions of a shoebox cost well over £100k!
_________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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| Sat Mar 01, 2014 12:12 pm |
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l3v1ck
What's a life?
Joined: Fri Apr 24, 2009 10:21 am
Posts: 12700
Location: The Right Side of the Pennines (metaphorically & geographically)
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NI seems to be the worst by far. 
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| Sat Mar 01, 2014 12:49 pm |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am
Posts: 29240
Location: Guantanamo Bay (thanks bobbdobbs)
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So much for the property recovery in the North East. _________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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| Sat Mar 01, 2014 5:20 pm |
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Spreadie
I haven't seen my friends in so long
Joined: Fri Apr 24, 2009 6:06 pm
Posts: 6355
Location: IoW
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Negative equity doesn't afflict anyone who uses their house as home rather than an investment.
_________________
Before you judge a man, walk a mile in his shoes; after that, who cares?! He's a mile away and you've got his shoes!
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| Sat Mar 01, 2014 11:45 pm |
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l3v1ck
What's a life?
Joined: Fri Apr 24, 2009 10:21 am
Posts: 12700
Location: The Right Side of the Pennines (metaphorically & geographically)
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Except people who have to sell as they've lost their jobs and can't pay the mortgage. It also affects people who want to remortgage to get a better rate. They can't, as other banks won't touch them. They have to sit on the standard variable rate of their current bank after any fixed term/tracker rate has expired. That means paying a lot more in interest.
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| Sun Mar 02, 2014 7:53 am |
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ShockWaffle
Doesn't have much of a life
Joined: Sat Apr 25, 2009 6:50 am
Posts: 1911
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But I was reading recently (here) that we have a tragic and devastating housing bubble. Make your mind up Internet!
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| Sun Mar 02, 2014 8:15 am |
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jonbwfc
What's a life?
Joined: Thu Apr 23, 2009 7:26 pm
Posts: 17040
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Not at the moment it doesn't. Unless they managed to get a fixed deal with a negative interest rate anyway. If (say) a 1% jump in the interest on their mortgage is enough to render their mortgage unmanageable they were in a pretty parlourous state anyway. Not that the mortgage rate can't go up of course, and probably will some time relatively soon. But it's simply not the case right now.
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| Sun Mar 02, 2014 10:40 am |
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l3v1ck
What's a life?
Joined: Fri Apr 24, 2009 10:21 am
Posts: 12700
Location: The Right Side of the Pennines (metaphorically & geographically)
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Standard variable rates are almost always higher than other deals.
For example..... My current fixed rate is crap. But it runs out in October. If I had negative equity I'd have to sit on my bank's SVR.
eg 3.99% at Nationwide at the moment. With equity I could move to any bank with a fixed rate deal. You can get ones well below 3% on a two year deal. Even five year fixed deals can be had for less than 3.5% with equity.
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| Sun Mar 02, 2014 10:47 am |
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jonbwfc
What's a life?
Joined: Thu Apr 23, 2009 7:26 pm
Posts: 17040
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I'd say drop the 'almost'. If they're not better than SVR hardly anyone would bother (I know having a fixed rate has advantages of itself, but not really ones you can use to sell them). I can't remember ever seeing a fixed rate deal where the fixed rate was current SVR. Hmm.. I was think of SVR as more than that frankly, more or less 5%.
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| Sun Mar 02, 2014 10:59 am |
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rustybucket
I haven't seen my friends in so long
Joined: Thu Jun 18, 2009 5:10 pm
Posts: 5837
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My. Heart. [LIFTED]. Bleeds.  _________________Jim
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| Mon Mar 03, 2014 2:30 pm |
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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm
Posts: 45931
Location: Belfast
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Rising housing market spreads beyond London and south-east http://www.theguardian.com/business/201 ... erty-price_________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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| Mon Mar 03, 2014 3:29 pm |
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