Credit Crunch

[da-robster]

I was watchiing a programme about the new super rich on BBC 2 and it was extremly intresting. It had Tom Hunter and other billionares on it and they were talking about how it happened and how it would affect us. It seems that because they became richer so that we would become poorer.The most intresting thing about it was that they can not go bankrupt becausethere so rich it's incredible the things they can get away with because of money. :brickwall

Very startiling progamme however it would probally be more startiling if they didn't use such complicating words :greengrin

[Phil D. Rolls]

When is somebody going to point the finger at the Jews?

Has to be done.

[Little Miss Perfect]

Is anyone on here being affected by the credit crunch with regards to buying or selling a house?

[SlickShoes]

Is anyone on here being affected by the credit crunch with regards to buying or selling a house?

Not yet btu im planning on moving in 10 months so im hoping everything goes well then and i still make some profit on my house so i can afford another bigger deposit!

[Little Miss Perfect]

Not yet btu im planning on moving in 10 months so im hoping everything goes well then and i still make some profit on my house so i can afford another bigger deposit!

Yeah good idea as its getting to the stage if you don't have a deposit your screwed. Incidentely i have my house up for sale just now and things aren't moving as fast as i would like but it's early days i guess it's not been on the market for long

[PC Stamp]

Yeah good idea as its getting to the stage if you don't have a deposit your screwed. Incidentely i have my house up for sale just now and things aren't moving as fast as i would like but it's early days i guess it's not been on the market for long


Not getting to the stage ... more a case of at the stage!

Abbey were the last lender to my knowledge offering 100% mortgages and they withdrew that this week. Therefore no deposit ... no buying a house. You might find a few lenders out there who'll do it with a 5% deposit (but likely charge a hefty arrangement fee and hefty guarantee premium for the privilege.)

Most likely now looking at a minimum 10% deposit.

[Pheona]

Not getting to the stage ... more a case of at the stage!

Abbey were the last lender to my knowledge offering 100% mortgages and they withdrew that this week. Therefore no deposit ... no buying a house. You might find a few lenders out there who'll do it with a 5% deposit (but likely charge a hefty arrangement fee and hefty guarantee premium for the privilege.)

Most likely now looking at a minimum 10% deposit.


All I am saying is I am pretty pleased I moved when I did. :agree:

[Brando7]

Not getting to the stage ... more a case of at the stage!

Abbey were the last lender to my knowledge offering 100% mortgages and they withdrew that this week. Therefore no deposit ... no buying a house. You might find a few lenders out there who'll do it with a 5% deposit (but likely charge a hefty arrangement fee and hefty guarantee premium for the privilege.)

Most likely now looking at a minimum 10% deposit.

:agree:

Been looking about for a while n there nobody will take less than a 10% deposit, if was bad before for people getting a mortgage, now it near impossible unless u have a rich mummy or daddy!!

Something needs to be done & the goverment wonders why loads of people got debt, think they need 2 look closer to home for the reasons!!

[PC Stamp]

All I am saying is I am pretty pleased I moved when I did. :agree:

Looking at it now, 'twas impeccable timing indeed. :agree:

[Edinburghlass]

I don't envy anyone trying to arrange a mortgage at the moment. I'm one of the lucky ones having bought 10 years ago so have a decent deposit to put down the next time I move, but I started out with a 100% mortgage back in the day as I was not in the position to have Mummy and Daddy stump up the deposit.

[Crossgates Hibs]

Is anyone on here being affected by the credit crunch with regards to buying or selling a house?

I wouldnt touch the housing market just now. I think we are looking at a 30% correction in prices minimum. The goverment needs to realise houses are overpriced and anyone who has bought in the last 2 years are looking at negative equity. Its no bad thing house prices coming down so others can get on the ladder. Once we as a nation stop looking at houses as an investment and as somewhere to live then sensible prices will prevail.:soapbox: