Doug’s Mouthpiece – Droug.co.uk

Want to buy a house

House prices falling in the UK: A great time to buy? Confused?

Well UK home primes have fallen for the sixth consecutive month, following lending cuts and loss of consumer confidence according to report from Hometrack Ltd.The UK’s leading housing research company reported that the average cost of a home fell by .2 percent to £174,100. You now need less of these:

While prices are falling, many will be considering buying a new home to gain on savings, but with such inflated prices and restricted lending, you will make the biggest gains by holding out longer.

The real cost of mortgages have increased to a seven-year high. Banks have refused to pass on two Bank of England interest rate cuts since December onto homebuyers. With banks, such as Northern Rock, attempting to recoup over £100 billion in losses.

There never has been a worse time to buy….or has there? With such high interest rates and prices still over-inflated from the housing boom of recent years, those who buying now are making a grave mistake…..or do they?
However, it seems not many are opting to head down this route.March reports from the London-based organisation report that consumer confidence has fallen to a 13-year low.

A March survey by Nationwide found that homebuyers expect property prices to drop a further 3 percent over the next six months. Mervyn King, governor of the Bank of England, echoed this in a recent speech.King said he: “would be surprised if, in a few years’ time, house prices are markedly above where they are now.”….doomed Captain

In times of doom and gloom is when most rich people make money, as opportunities abound.

Course a great time to get some buy to let mortgages :)

Doug doomed Captain

Ps We may have some central heating radiators or cast iron radiator for sale as it looks loike we are getting part of our house redone….anyone care to buy

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other, Uncategorized written by Doug Scott