Northern Rock Anyone?
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- HomeCreative0
Well I have a place and indeed a Northern Rock mortgage.........GULP!
But as the BANK OF ENGLAND are in essence backing well guaranteeing the continuation of the company, i'm not worried in the slightest.
The only concern I have is it is looking likely that the company will be took over by one of the big banks (HSBC is top of the list), but then again all my current accounts and business banking done through them. So what do I care... I really dont think anyone has anything to worry about, and this certainly wont cause house prices to fall in the UK.
Fact the UK is a f**** expensive place to live. Shit I know, but hey could be worse we could live in France ;-)
- phatlee0
I never understood Scotland, a flat gets priced for £80k, but cos of the bidding system you can 3 or 4 times as much than its worth. Rip off!!
- 23kon0
HomeCreative
Yeah i dont think youve much to worry about with the BoE backing it all.France is one of those countries where everyone rents anyway - a tiny percentage of french actually own their own homes.
Monoboy yeah i hope that too.
the folk that buy to let in edinburgh are suckers though. they are told by the sales people that thay'll get X amount no problem. but because theres so many of these new builds the market is completely saturated with these apartments TOLET. loads sit empty for months on end on websites then eventually if someone takes it up to let then the owners will be lucky if they are covering the mortgage.Its a renters market likes - there are some REAL bargains to be had renting rather than buying.
- ********0
Rubbing your hands with glee at the prospect of buy-to-let suckers going to wall is not a good thing for the economy as a whole.
This means borrowing being curtailed and budgets being cut through out the whole economy.
The question is what does that mean to the design industry, which as a service industry relies on budgets and cash to survive?
- 23kon0
The question is what does that mean to the design industry, which as a service industry relies on budgets and cash to survive?
Bottlerocket
(Sep 17 07, 04:00)
--------An accelerated trend of companies spending less on glossy brochures and annual reports and spending the money keeping their websites looking good and updated with this information??
good news for us new media types anyway.
- ********0
Come off it. You weren't around when the dot com bubble burst and all those design companies went to the wall?
Its pretty worrying If you honestly don't think a downturn in the general economy is bad for our industry as a whole.
- trevedda0
Agree, a downturn is bad for creative industry - always the first to go/be cut back.
I think it's worrying when everyone withdraws their savings from the same bank at the same time. The system isn't designed to cope with that.
Ironically, property could be a good bet if shares are not looking as good as they were. House prices do seem over inflated; the problem comes not when the prices go down but when the house value is less than the debt owed. In the 80s it was terrible with mortgages of 100K on houses worth 50K. Negative equity means everything just stops-dead.
- maximillion_0
i see opportunities
- Drno0
me stupid,
though it was a swedish crack story
- lowimpakt0
www.youtube.com/watch?...
Bluejam
(Sep 17 07, 04:15)
---------------i had the fear on sunday. wine and certain drugs don't mix
- waynepixel0
Well I would like to know how any graphic designer can afford to buy into London house market. On are wages it is unrealistic if you are on your own. Even with a partner it must be close.
- chossy0
I own a house and dinae give a fuck, Edinburgh will always be expensive house prices will always be high especially where I live, the reason why new developments don't sell is cause people don't want to live in them anymore as they are terrible and have no personality.
House prices will stay high in Britain cause there is so little space for people to stay.
- ********0
I'm trying to complete on a house right now. Fact is, I've been trying to buy for years, and I've heard this all before (since 1999 when I stated looking).
Either way - the repayments will not be much more than my current rent, and I can afford for the repayments to go up.
House prices plunge just like the stock markets. And just like the stock markets they will always recover eventually. And investing in either ain't just for Christmas - it's long term.
- Drno0
could get any better
- 23kon0
could get any better
img146.imageshack.us/i... [jpg]
Drno
(Sep 17 07, 07:23)lol
"LONDON (city) FALLING"
- emecks0
I am a buy-to-let cunt as of 1 month too, to be honest I'm not overly concerned, the rent doesn't cover the mortgage but goes a good way towards it, I'm looking to make some improvements and then to sell again in 2 - 3 years time.
We live in a rented flat though, couldn't afford to live in the place I bought.
- ********0
I am a buy-to-let cunt
emecks
(Sep 17 07, 07:36)Burn him!
- 23kon0
thats what one of the guys here was saying a lot of people do emecks when we were talking about this in the office earlier.
that a lot of people buy and rent it out - possibly making a small loss but hope to regain that loss in the future because property should always theoretically go up in price.
i guess thatl be even moreso for properties that need a little TLC that'll help improve their sell price rather than a newbuild which you probably couldnt do too much with to increase the sell price
- emecks0
Have to say I was very lucky though. I bought a flat for a fixed price on Cockburn Street, just off the royal mile in Edinburgh it was valued in December 2006 and I bought it for the price it was valued at then in August 2007.
Prices have risen 10% in that time frame which gives me breathing room even if they do fall a bit, also there is decent scope for improvement to the property too - has to be good.