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"Arthur Daley" Estate Agent practices


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We need housing associations here with land & seeding money provided by government rather than the crappy buyer’s schemes they have at present, they could start with old prison site, nurses home, park road school site etc

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20 minutes ago, Banker said:

We need housing associations here with land & seeding money provided by government rather than the crappy buyer’s schemes they have at present, they could start with old prison site, nurses home, park road school site etc

ALMO are falling away extremely quickly elsewhere, because they don't work = IoM moving to that model. 🤣

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54 minutes ago, finlo said:

Those nice people at the IOM bank are offering mortgages at less than 1% because we've been having hard times, the only fly in the ointment is you need to find a 40% deposit!

Well with Cabinet Office now stating that the average house price is £313,000 that's only £125k-odd you've got to scrape together...

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3 minutes ago, Non-Believer said:

Well with Cabinet Office now stating that the average house price is £313,000 that's only £125k-odd you've got to scrape together...

Shouldn’t be a big deal for anyone with a property already and equity in it.

First time buyers have never been able to afford an “average” house unless very successful or Mummy and Daddy help out.

We are on our fourth house and it still isn’t £300k worth.  Most people have to move up the ladder a few times unfortunately these days people expect to start half way up and still have loads of spare cash every month, sky, phone contracts, holidays, new cars etc etc.

We didn’t use the top floor of our second house for two years until we could afford to make it habitable.

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The problem is for those as yet without property/equity or parents in a position to help out. Flats cited at £150k odd, even a 10% deposit means salting away £15k+, plus the necessary fees too.

If you're having to rent pre-purchase, you've got little hope currently.

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11 minutes ago, Non-Believer said:

The problem is for those as yet without property/equity or parents in a position to help out. Flats cited at £150k odd, even a 10% deposit means salting away £15k+, plus the necessary fees too.

If you're having to rent pre-purchase, you've got little hope currently.

I would put money on the majority of those who can’t afford a mortgage being able to trim a £100 a week off their outgoings with some sacrifices.

For a single person that is 3 years of living economically to save a deposit, or a year of doing a second job.

For a couple it’s less.

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49 minutes ago, Non-Believer said:

Well with Cabinet Office now stating that the average house price is £313,000 that's only £125k-odd you've got to scrape together...

This was compiled at the end of 2020 so doesn't take into account the most recent price boom.

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1 hour ago, offshoremanxman said:

To be honest if you have a house that’s paid for that’s just offering people free money. Stick a mortgage over it at a ridiculous current market valuation and borrow a bucket load at less than 1% and invest the proceeds. If you have a house worth £500,000 mortgage free thats £250,000 of free money. 

It's a trap 🤔banks don't make mistakes like that

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