Jump to content

Right to Buy opportunities


Recommended Posts

Just wondered if there was anyone out there who are taking up the new Right to Buy opportunities and what the experiences have been regarding finding a mortgage, deposits required, good mortgage advisors, etc?

I'm looking at doing this myself and would be interested in any advise/experience that may be out there?

Link to comment
Share on other sites

Property is falling in price.

 

Save up for a bit longer if you are going to buy. Then buy when property is even cheaper.

 

Property is massively overvalued at the minute, even after the 30% falls from 2007, still got another 50% to go!

Link to comment
Share on other sites

Just wondered if there was anyone out there who are taking up the new Right to Buy opportunities and what the experiences have been regarding finding a mortgage, deposits required, good mortgage advisors, etc?

I'm looking at doing this myself and would be interested in any advise/experience that may be out there?

 

If you are thinking of buying and its a house, you should be OK if you can get a mortgage. But bear in mind that if you lose your job, you`ll still have to pay it yourself for several months before you `d have any chance of getting help paying the interest part of the mortgage.

A word of warning for anyone thinking of buying a council flat that is leasehold. If the council decide to clad with insulation, the owner occupiers would get a large bill. The flats on Washington road/Sharrow are being done and even just 1 bedroomed flats are being billed for nearly £8k.

Link to comment
Share on other sites

Property is falling in price.

 

Save up for a bit longer if you are going to buy. Then buy when property is even cheaper.

 

Property is massively overvalued at the minute, even after the 30% falls from 2007, still got another 50% to go!

 

you sure about that,

i sold my house last year for 35k more than i paid for it in 2007.

Link to comment
Share on other sites

Property is falling in price.

 

Save up for a bit longer if you are going to buy. Then buy when property is even cheaper.

 

Property is massively overvalued at the minute, even after the 30% falls from 2007, still got another 50% to go!

I remember people saying to wait for the massive price drop since 2007, it never happened just think of all that wasted rent money. 60 months x 500 = 30k! If you can buy, buy. Property always raises in price over time.

 

I bought in 2007 and not only have we paid a quarter of our mortgage off, values in the area have gone up since we bought.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.