Who are these saps who can afford £550 PCM but can't secure a mortgage ?
Many people in their 20s (and even 30s) that's who. You may be able to afford a mortgage on a £150,000 house but you'll need a £15-20k deposit to buy it. Unless these "saps" have help from the Bank of Mum and Dad then they will need to rent until they can scrape together the deposit.
I love HUTH mainly because of the cheesy music they used for each house.
Many people in their 20s (and even 30s) that's who. You may be able to afford a mortgage on a £150,000 house but you'll need a £15-20k deposit to buy it. Unless these "saps" have help from the Bank of Mum and Dad then they will need to rent until they can scrape together the deposit.
I love HUTH mainly because of the cheesy music they used for each house.
You can guarantee that if they're showing a property in Manchester, they'll either play an Oasis track or something by the Stone Roses!:D
The house next door to me was recently sold at auction and is in the process of being done up. It'll be on Homes Under The Hammer in the future (unsure when though) and Lucy was outside recording a couple of months ago. They had to re-shoot the 'estate agents walk up to the house and go inside' bit about 10 times, haha. No idea why.
I'm thinking more the modest terraced houses than can be had on HUTH for £40K-60K, mainly in the fetid wastelands north of Hemel Hempstead.
Surely a mortgage for that meagre amount is within the wit and wisdom of most people to secure.
Bloody hell, a half decent wedding costs that amount these days. :cool:
It's very hard to get a mortgage on a auctioned property so the vast majority of them go to cash buyers. You can't really win an auction and then say "oh hang on - I need to arrange a mortgage" and lenders aren't going to give you the money up front.
The house next door to me was recently sold at auction and is in the process of being done up. It'll be on Homes Under The Hammer in the future (unsure when though) and Lucy was outside recording a couple of months ago. They had to re-shoot the 'estate agents walk up to the house and go inside' bit about 10 times, haha. No idea why.
Bet you're keeping your fingers crossed you don't need to get out your DIY tools once you heard his valuation.
I sold my house to move to the rental market. I don't understand why people are obssessed with owning their own homes. I can move whenever I want, I don't have to worry about repairs or if the roof blows off. I don't have to worry about the interest rates going up. I can also get a much larger house than if I bought.
my landlord owns lots of houses, but i bet its a lot of work and a very long term investment. My house is worth 400k I couldnt ever afford to buy something this good. also there are some real gems when it comes to renting. The bigger the house the cheaper they are. Everyone wants two bed flats or two bedroomed ex council houses. Buy an ex terraced for 52k rent out for £520 a month thats a nice little earner. my 400k house doesn't cost me £4k a month rent. It's in an area that is quite rural and not close to local amenities, this makes a huge difference. I don't need to be close to shops as I drive.
If you look at the types of homes that BTL landlords get at auction they are normally in places no one wants to live in but are forced to.
I don't understand why people are obssessed with owning their own homes.......my 400k house doesn't cost me £4k a month rent.
My mortgage is considerably less than £1k a month and the property has increased nearly three times in value since bought just over a decade ago and all indications are that it will be worth more than five times what I originally paid by the time I plan to sell. That`s why people are "obsessed" with owning rather than renting. The cliche is that renting is "dead money" and it`s a cliche because it`s true.
My wife watches the programme regularly, I don't. But she lost
faith in Lucy completely,following another show,where Lucy bought
a mansion for herself. Lucy has always stressed on her shows,that
you MUST check inside and out for faults,before buying.
When she found her mansion,it was locked and she could not get
access; but she went ahead and bought it anyway! Double standards,
anyone?
My mortgage is considerably less than £1k a month and the property has increased nearly three times in value since bought just over a decade ago and all indications are that it will be worth more than five times what I originally paid by the time I plan to sell. That`s why people are "obsessed" with owning rather than renting. The cliche is that renting is "dead money" and it`s a cliche because it`s true.
The only problem with the value of a house going up is that so do all other houses. So you don't actually make any money until you finally sell and don't buy again or really go for something much cheaper. It also costs an awful lot to buy and sell, so you need quite a bit on top of what you sell your house for just to stand still.
Having to have a large deposit has always been a problem. We saved up what was then a large deposit in 1965 of £500 - my husband earned £12.00 a week and I earned £8.00. We did it by living in a couple of rented rooms, having no holidays, no washing machine, no fitted kitchen, no central heating, no car, no TV - basically nothing. When we bought our first house, the mortgage allowed was three times my husband's income and none of mine. I had a basic washing machine and spin dryer, still no central heating and secondhand/donated furniture or even orange boxes. The mattress was on the floor. Still no holidays, no nights out.
We carried on saving and going without to save £1,500 for the second house and it was then three times my husband's income, plus a third of mine for the maximum mortgage we could get, but over 20 years instead of 25. We stayed there 18 years and had to pay of the last £1,000 before moving to a cheaper area and not having a mortgage.
I can just see people doing that today. If I had my time again, I'd rent, because only the contents are your responsibility. Everything else is the responsibility of the landlord. We could have had holidays and done all the other things younger people do before we became too old and infirm to do them.
The only problem with the value of a house going up is that so do all other houses. So you don't actually make any money until you finally sell and don't buy again or really go for something much cheaper.
Or buy fixer-uppers. It`s what I`ve always done and even in this market there are still deals to be had if you`re willing to put in the work. The reason I`ve bagged as many as I have in the past 25 years is because the vast majority of house-hunters don`t want to get their hands dirty.
My next move will see me moving overseas so the profit will be wholly real in cash terms.
My mortgage is considerably less than £1k a month and the property has increased nearly three times in value since bought just over a decade ago and all indications are that it will be worth more than five times what I originally paid by the time I plan to sell. That`s why people are "obsessed" with owning rather than renting. The cliche is that renting is "dead money" and it`s a cliche because it`s true.
You are lucky i bought my first home in Nottingham in 2002 for £52,950 It recently sold end of last year for £65k. That is dead money. The profit I made is less than the interest on the mortgage.
You have to remember you might get a mortgage for £150k but over the life of that mortgage it will cost you £290k in real money. So after 25 years your £150k house has to be at least £290k before you make any money on your investment.(based on an interest rate of 6%) maybe now it would be a little less but you get the point !
Im sick of seeing the one where he gets a hard on over that heating system, in the place that woman buys.
'Phwoar, industrial', then when he's talking to her about it, he goes on about having it, and she tells him to make her an offer for it, seen it about 4/5 times now that one.
I'm thinking more the modest terraced houses than can be had on HUTH for £40K-60K, mainly in the fetid wastelands north of Hemel Hempstead.
Surely a mortgage for that meagre amount is within the wit and wisdom of most people to secure.
Bloody hell, a half decent wedding costs that amount these days. :cool:
That would be *well* north of (just fetid) Hemel Hempstead I live north of Hemel and you wouldn't find a shed for 40-50k around here, let alone a modest terraced house.
You have to remember you might get a mortgage for £150k but over the life of that mortgage it will cost you £290k in real money. So after 25 years your £150k house has to be at least £290k before you make any money on your investment.(based on an interest rate of 6%) maybe now it would be a little less but you get the point !
I`ve factored mortgage payments in. The value increase just in the last year alone, 2013-14, covers ALL of those payments for the period I`ll have the mortgage.
£200 000 + for that squalid little flat in Shepherd's Bush in today's show, the crazy prices that Londoners are prepared to pay ......and not even a parking space ?
Used to watch it (cos I fancied Graham Penny ) but its always same old same old and once you've seen one property developer in action........you've kinda seen them all.
I`ve factored mortgage payments in. The value increase just in the last year alone, 2013-14, covers ALL of those payments for the period I`ll have the mortgage.
Are you Martin Roberts? Only he cares that much about making a profit on houses! Maybe that's why you are so grumpy because everyone likes Lucy better than you!
Are you Martin Roberts? Only he cares that much about making a profit on houses! Maybe that's why you are so grumpy because everyone likes Lucy better than you!
My wife watches the programme regularly, I don't. But she lost
faith in Lucy completely,following another show,where Lucy bought
a mansion for herself. Lucy has always stressed on her shows,that
you MUST check inside and out for faults,before buying.
When she found her mansion,it was locked and she could not get
access; but she went ahead and bought it anyway! Double standards,
anyone?
Lucy can probably afford to take a loss though (I believe she did have some knowledge of the mansion), If what I read was correct the mansion after it was done up was valued at around £3.5M. Lucy has recently sold and moved to a new property. ;-)
You can guarantee that if they're showing a property in Manchester, they'll either play an Oasis track or something by the Stone Roses!:D
I so want the job of choosing the music that accompanies the commentary, me and Mr AK regularly play 'guess which tune they'll play next' when watching
You are lucky i bought my first home in Nottingham in 2002 for £52,950 It recently sold end of last year for £65k. That is dead money. The profit I made is less than the interest on the mortgage.
You have to remember you might get a mortgage for £150k but over the life of that mortgage it will cost you £290k in real money. So after 25 years your £150k house has to be at least £290k before you make any money on your investment.(based on an interest rate of 6%) maybe now it would be a little less but you get the point !
One day the mortgage will be paid off and then you'll be living rent free. All you need to do is make sure you live to a ripe old age.
Finally a "local estate agent" quotes their rental figure by saying "a month" instead of "per calender month" which always grates with me. >:(
Clip> https://www.youtube.com/watch?v=WtPjdMVL1wE
Comments
Lol made me laugh.
I don't mind Lucy but the guy really annoys me!l
What annoys me more is the stupid things the producers make the new owners do like moving a brick 10cm from it's original position.
Many people in their 20s (and even 30s) that's who. You may be able to afford a mortgage on a £150,000 house but you'll need a £15-20k deposit to buy it. Unless these "saps" have help from the Bank of Mum and Dad then they will need to rent until they can scrape together the deposit.
I love HUTH mainly because of the cheesy music they used for each house.
You can guarantee that if they're showing a property in Manchester, they'll either play an Oasis track or something by the Stone Roses!:D
A £30 000 deposit for a £52 000 house ?
I'm thinking more the modest terraced houses than can be had on HUTH for £40K-60K, mainly in the fetid wastelands north of Hemel Hempstead.
Surely a mortgage for that meagre amount is within the wit and wisdom of most people to secure.
Bloody hell, a half decent wedding costs that amount these days. :cool:
It's very hard to get a mortgage on a auctioned property so the vast majority of them go to cash buyers. You can't really win an auction and then say "oh hang on - I need to arrange a mortgage" and lenders aren't going to give you the money up front.
It's like his life stopped moving forward in about 1989.
Bet you're keeping your fingers crossed you don't need to get out your DIY tools once you heard his valuation.
my landlord owns lots of houses, but i bet its a lot of work and a very long term investment. My house is worth 400k I couldnt ever afford to buy something this good. also there are some real gems when it comes to renting. The bigger the house the cheaper they are. Everyone wants two bed flats or two bedroomed ex council houses. Buy an ex terraced for 52k rent out for £520 a month thats a nice little earner. my 400k house doesn't cost me £4k a month rent. It's in an area that is quite rural and not close to local amenities, this makes a huge difference. I don't need to be close to shops as I drive.
If you look at the types of homes that BTL landlords get at auction they are normally in places no one wants to live in but are forced to.
My mortgage is considerably less than £1k a month and the property has increased nearly three times in value since bought just over a decade ago and all indications are that it will be worth more than five times what I originally paid by the time I plan to sell. That`s why people are "obsessed" with owning rather than renting. The cliche is that renting is "dead money" and it`s a cliche because it`s true.
faith in Lucy completely,following another show,where Lucy bought
a mansion for herself. Lucy has always stressed on her shows,that
you MUST check inside and out for faults,before buying.
When she found her mansion,it was locked and she could not get
access; but she went ahead and bought it anyway! Double standards,
anyone?
Having to have a large deposit has always been a problem. We saved up what was then a large deposit in 1965 of £500 - my husband earned £12.00 a week and I earned £8.00. We did it by living in a couple of rented rooms, having no holidays, no washing machine, no fitted kitchen, no central heating, no car, no TV - basically nothing. When we bought our first house, the mortgage allowed was three times my husband's income and none of mine. I had a basic washing machine and spin dryer, still no central heating and secondhand/donated furniture or even orange boxes. The mattress was on the floor. Still no holidays, no nights out.
We carried on saving and going without to save £1,500 for the second house and it was then three times my husband's income, plus a third of mine for the maximum mortgage we could get, but over 20 years instead of 25. We stayed there 18 years and had to pay of the last £1,000 before moving to a cheaper area and not having a mortgage.
I can just see people doing that today. If I had my time again, I'd rent, because only the contents are your responsibility. Everything else is the responsibility of the landlord. We could have had holidays and done all the other things younger people do before we became too old and infirm to do them.
Or buy fixer-uppers. It`s what I`ve always done and even in this market there are still deals to be had if you`re willing to put in the work. The reason I`ve bagged as many as I have in the past 25 years is because the vast majority of house-hunters don`t want to get their hands dirty.
My next move will see me moving overseas so the profit will be wholly real in cash terms.
You are lucky i bought my first home in Nottingham in 2002 for £52,950 It recently sold end of last year for £65k. That is dead money. The profit I made is less than the interest on the mortgage.
You have to remember you might get a mortgage for £150k but over the life of that mortgage it will cost you £290k in real money. So after 25 years your £150k house has to be at least £290k before you make any money on your investment.(based on an interest rate of 6%) maybe now it would be a little less but you get the point !
Im sick of seeing the one where he gets a hard on over that heating system, in the place that woman buys.
'Phwoar, industrial', then when he's talking to her about it, he goes on about having it, and she tells him to make her an offer for it, seen it about 4/5 times now that one.
That would be *well* north of (just fetid) Hemel Hempstead I live north of Hemel and you wouldn't find a shed for 40-50k around here, let alone a modest terraced house.
I`ve factored mortgage payments in. The value increase just in the last year alone, 2013-14, covers ALL of those payments for the period I`ll have the mortgage.
Are you Martin Roberts? Only he cares that much about making a profit on houses!
No, I just checked and I have all my own hair.
Lucy can probably afford to take a loss though (I believe she did have some knowledge of the mansion), If what I read was correct the mansion after it was done up was valued at around £3.5M. Lucy has recently sold and moved to a new property. ;-)
I so want the job of choosing the music that accompanies the commentary, me and Mr AK regularly play 'guess which tune they'll play next' when watching
One day the mortgage will be paid off and then you'll be living rent free. All you need to do is make sure you live to a ripe old age.
Clip> https://www.youtube.com/watch?v=WtPjdMVL1wE