barneybrendan Posted April 10, 2012 Share Posted April 10, 2012 Is it a good time to buy at the moment.i keep toying with buying our council house through the right to buy.We have been tenants for 18 years now so should get a good discount. Quote Link to comment Share on other sites More sharing options...
Colin-mkiv Posted April 10, 2012 Share Posted April 10, 2012 Anytime is a good time to own your own house mate, I regret all the rent I payed the 7 years I was a tenant, £25.000 down the drain! Quote Link to comment Share on other sites More sharing options...
Rob Posted April 10, 2012 Share Posted April 10, 2012 Interest rates are low, if you can get a capped mortgage. House prices are low too. Quote Link to comment Share on other sites More sharing options...
Josh Posted April 10, 2012 Share Posted April 10, 2012 Looking to buy with the girlfriend in the next year or so. Hopefully have a £15k deposit Quote Link to comment Share on other sites More sharing options...
SupraStar 3000 Posted April 10, 2012 Share Posted April 10, 2012 Wish i'd bought a house earlier. Something i never paid to much interest too, was the fact, the older you get, the harder it is to get a mortgage. At 34 i really struggled to find any mortgage. Now i face a high mortgage rate until i'm 75. Thats frightening Quote Link to comment Share on other sites More sharing options...
SupraDan24 Posted April 10, 2012 Share Posted April 10, 2012 I'm in the same boat, i've saved almost £20k now which is just enough to put a deposit down on a house my gf likes.....apparently Quote Link to comment Share on other sites More sharing options...
barneybrendan Posted April 10, 2012 Author Share Posted April 10, 2012 just worked it out if our house was valued at 120,000 then with discount we would get it for 64,800.with an interest rate of 2% thats 275 per month.Rent is 338 per month.Dont take much to work out what the answer is really.The best thing is becuase of the discount its not a 100% mortgage so its like putting down a 46% deposit. Quote Link to comment Share on other sites More sharing options...
Guest Rsand85 Posted April 10, 2012 Share Posted April 10, 2012 very good time to buy at the moment dude every thing is rock bottom. Quote Link to comment Share on other sites More sharing options...
Geo Posted April 10, 2012 Share Posted April 10, 2012 Got 3 at the moment, and shooting for a 4th soon. Its a buyer's market if you have the ££££ for the deposit. Even cheeky low offers are being taken as people are either desperate to sell due to moving to another place, or have had there property on the Market for ages. Quote Link to comment Share on other sites More sharing options...
barneybrendan Posted April 10, 2012 Author Share Posted April 10, 2012 has anybody bought their council house through right to nuy. Quote Link to comment Share on other sites More sharing options...
Bailey. Posted April 10, 2012 Share Posted April 10, 2012 Got 3 at the moment, and shooting for a 4th soon. Its a buyer's market if you have the ££££ for the deposit. Even cheeky low offers are being taken as people are either desperate to sell due to moving to another place, or have had there property on the Market for ages. Show off!!! , looking to buy in the new year with all being well a £30k deposit and a value of upto £195k, mortgage repayments of £700 odd a month at 4%. House with garage and then saving for another sup!!!! a little wee comes out when I think about it;) Quote Link to comment Share on other sites More sharing options...
safcdixon Posted April 10, 2012 Share Posted April 10, 2012 Me and the gf have been renting for 3 1/2 years now at 400 a month so that a decent amount down the drain already, I'm probobly gonna be renting for a few more years too Quote Link to comment Share on other sites More sharing options...
SupraDan24 Posted April 10, 2012 Share Posted April 10, 2012 Got 3 at the moment, and shooting for a 4th soon. Its a buyer's market if you have the ££££ for the deposit. Even cheeky low offers are being taken as people are either desperate to sell due to moving to another place, or have had there property on the Market for ages. Am i right in thinking in Scotland, buying a house works by "Offers over" a price. I met a guy offshore once who bought a house in Aberdeen he and his GF really really wanted, they secured the house then found out afterwards they had bid more almost 10k more than anyone else. Crazy way of doing it if you ask me. Quote Link to comment Share on other sites More sharing options...
Bailey. Posted April 10, 2012 Share Posted April 10, 2012 has anybody bought their council house through right to nuy. Alot of people have doneit in our area. What is the score with buying and then Selling for a profit??? Is there some kind of clause to stop you doing that? Quote Link to comment Share on other sites More sharing options...
barneybrendan Posted April 10, 2012 Author Share Posted April 10, 2012 whats the average interest rate at the moment.from just a quick search it seems to be around 4% Quote Link to comment Share on other sites More sharing options...
stevie_b Posted April 10, 2012 Share Posted April 10, 2012 Interest rates are low, if you can get a capped mortgage. House prices are low too. I agree that interest rates are low. I wouldn't agree that house prices are low. I would think the "average house price / average salary" ratio is not far off its all-time high. That doesn't mean they haven't got further to rise though. Quote Link to comment Share on other sites More sharing options...
Bailey. Posted April 10, 2012 Share Posted April 10, 2012 whats the average interest rate at the moment.from just a quick search it seems to be around 4% Natwest- below 86% loan to value is approx 4% -above 86% ltv 5.99ish% Quote Link to comment Share on other sites More sharing options...
barneybrendan Posted April 10, 2012 Author Share Posted April 10, 2012 going to send off for the right to buy this week now,be interesting to see how much they value our house at. Quote Link to comment Share on other sites More sharing options...
Geo Posted April 10, 2012 Share Posted April 10, 2012 Am i right in thinking in Scotland, buying a house works by "Offers over" a price. I met a guy offshore once who bought a house in Aberdeen he and his GF really really wanted, they secured the house then found out afterwards they had bid more almost 10k more than anyone else. Crazy way of doing it if you ask me. so this is just around the corner from me http://www.move2ayrshire.com/property-details/north-ayrshire/kilwinning/foundry-wynd been up for a while, id be cheeky and go i with under 200k. But yeah there will be property's for sale (offers over) a certain price. Quote Link to comment Share on other sites More sharing options...
Abz Posted April 10, 2012 Share Posted April 10, 2012 If you are getting a discount then I'd bite their hands off! I heard they are trying to remove the council discount, some people have made an massive racking from buying these houses. The council flat we lived in 20 or so years ago my Dad was offered to buy it for £35k, that 3 bedroom flat is now worth close to £300,000! Just shows you how badly the market has boomed! In London especially 90% of the houses are over priced. If you got the chance to buy it then do it, if not you, then for the kids. Quote Link to comment Share on other sites More sharing options...
Bailey. Posted April 10, 2012 Share Posted April 10, 2012 so this is just around the corner from me http://www.move2ayrshire.com/property-details/north-ayrshire/kilwinning/foundry-wynd been up for a while, id be cheeky and go i with under 200k. But yeah there will be property's for sale (offers over) a certain price. That's great value compared to where we are mate! Quote Link to comment Share on other sites More sharing options...
imi Posted April 10, 2012 Share Posted April 10, 2012 just worked it out if our house was valued at 120,000 then with discount we would get it for 64,800.with an interest rate of 2% thats 275 per month Whats with the discount? Does this apply to all council houses? Wonder what I need to do to qualify for such freebies... Quote Link to comment Share on other sites More sharing options...
Abz Posted April 10, 2012 Share Posted April 10, 2012 so this is just around the corner from me http://www.move2ayrshire.com/property-details/north-ayrshire/kilwinning/foundry-wynd been up for a while, id be cheeky and go i with under 200k. But yeah there will be property's for sale (offers over) a certain price. And here is what you could end up with for roughly the same price in parts of London http://www.rightmove.co.uk/property-for-sale/property-33782938.html Quote Link to comment Share on other sites More sharing options...
Bailey. Posted April 10, 2012 Share Posted April 10, 2012 And here is what you could end up with for roughly the same price in parts of London http://www.rightmove.co.uk/property-for-sale/property-33782938.html And the average salary is?? £££££££??? Quote Link to comment Share on other sites More sharing options...
Abz Posted April 10, 2012 Share Posted April 10, 2012 And the average salary is?? £££££££??? That does vary massively, unfortunately we don't all live like houses like this. http://www.rightmove.co.uk/property-for-sale/property-22152294.html Quote Link to comment Share on other sites More sharing options...
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