There’s one for a well known high street bank where a couple are on a tracker mortgage and they’re on a track on one of those hand powered handcar. They begin to struggle as it’s going uphill, implying the rates are increasing perhaps. The couple pull a lever and move without fees to a fixed rate mortgage which is on a flat level and therefore easier for them to move along.
Firstly I note that it’s implied a tracker mortgage is hard work. At the moment they shouldn’t be. The Bank of England hasn’t put interest rates up and they’re at their lowest level for hundreds of years.If you can’t manage your mortgage whilst interest rates are this low, then something is clearly wrong!
Secondly the flat level of track is indeed flat, but you don’t see the couple sliding back down the steep hill first. This implies that the fixed rate will cost at least the same as the highest level on the tracker mortgage.
I suppose the benefit would be that you know what rate it is and that it’s not going to go up suddenly if the BOE puts rates up. Will the BOE ever put the rates up though? Savers are desparing that they will!
Perhaps it’s a not so subtle way of this bank pointing out that rates will be going up soon and you should be prepared!
There’s also some silly comment about a squrrel. What’s the relevance of that? Nothing the advert says, but my interpretation would be that the squirrel isn’t relevant as people have not been ‘squirreling’ away money to help them cope during the rough times.
Month: January 2011
When neighbours become good friends
It’s very telling when you speak to the owners of a house, when you ask about the neighbours. If they don’t refer to them by name, or go very quiet you can guess they don’t get on very well.
It’s always easy to spot the lies too! When someone says their neighbours are lovely and quiet but you can actually hear the music playing through the wall, rattling the ornaments in the house you’re viewing, and then you can only assume that the owner is deaf, or desperate to move.
Some people avoid reporting neighbours to the council and the police when there are problems. This is because it would mean they have to declare a neighbour dispute when selling.
So how can you check out the neighbours?
You could go and knock on their door after you’ve finished viewing the house. That is something not everyone would feel comfortable doing. There are easy ways of finding out about the neighbours though. If it’s a hot day there’ll be people outside, smile and say hello and see if you can entice them gently into a conversation. Ask them where the nearest paper shop is, or if they have kids ask them where the nearest primary school is. Always take note that when stood on the road where the said amenity is actually placed and asking about it just makes you look silly!
Sometimes parking away from the property, maybe on the next street, is a good way of slowly walking past the neighbours gardens and having a nosey. If there’s an untidy garden nearby then it’s one you’ll be seeing often! It’s ok to buy the worst house on the street, but don’t buy the house next to the worst house on the street.
If you’ve got kids then take them for a second viewing. Try and get a sunny day not during school when it’s likely the kids are out and about. Kids often find it easier to talk to other kids, and it’d be nice to have the children’s input on what the neighbours are like. If you’re not moving from too far it’s possible they go to the same school as your kids do, which is always useful to know and can be very insightful!
If there’s a rusty car in the middle of the garden next door then it might not make them perfect neighbours! Does it make the house you’re viewing more affordable? Could you live next door to the Clampetts?
They’ll be your neighbours and it’s up to you to make the decision about how much finding out you do before you buy a house! Some people are happy to just take things as they come and make friends with the neighbours. If you’re sensitive about noise it makes sense to avoid noisy neighbours!
Mortgage lending at low
Mortgage lending at nine-year low
BBC Article interesting says: “Lending was just over a third of level seen in 2007, revealing the extent to which the UK property bubble has burst.”
The Council of Mortgages Lenders says it expects rates to rise soon too.
Why is this good news? It might not be if you’ve not got a good chance of getting a mortgage, but as prices are likely to drop, is now a good time to buy a house? I don’t think so – so keep saving your deposit!
Dubai Islands sinking?
The man made islands in Dubai intended to be luxourious holiday destinations are sinking!
See the telegraph article
I’d not normally quote the bible but Matthew 7:24-27 does say only a “foolish man who built his house on sand.”
Ceilings
When you view a house, how often do you glance up at the ceiling? You probably don’t! You should though! What state the ceilings are in is important! If they are really horrible then they may have been covered with polystyrene tiles or artexed!
If there are polystyrene tiles then you may want to take them down! Old ones are a fire hazard but new ones are available that have been treated with a fire retardant substance to make them safer.
If you can find a spare tile in the loft and test it outside by setting fire to it you should find out if they are fire proof. If they are not you should remove them all! Many people don’t like them and remove them!
If you remove them and the ceiling is in need of some attention it depends on how bad it is as to your solution.
There are extra thick paints that are good for fine cracks, textured paints for more problematic ceilings and as a last resort you could have the ceilings skimmed by a plasterer.
You can also get British Gypsum MF (metal furring) system. You just put this metal grid system up about 50mm below your existing ceiling and screw new plasterboard to it. You have a lower ceiling so it might not be suitable for all rooms but it will give you a level ceiling. You get tapered edge plaster boards that you tape the edges over and this just needs skimming over.
If you’re going for a plasterer to do the work then ask them how much it is to do the whole house worth of ceilings. It’s quite messy work and easier to do all at once on an empty property if possible. You could also remove all the old ceilings and replace the boards entirely from scratch. This is more messy!
Modern ceiling tiles are available and have different textures and patterns on. They also act as insulation too!
Finding a solicitor
Picking a solicitor for buying and selling houses
There’s nothing to stop you getting quotes and ringing round local solicitors as soon as you are ready to buy a house. In fact it’s best to do it carefully and take some time about it.
To get quotes solicitors often want to know the price you’re going to be paying. A vague idea is usually enough if you’ve not had an offer accepted yet though. If you’re planning on buying for about £110,000 then tell them this. You will have to give them the full details of the property when you’re ready for them to start acting for you anyway – including the address, so don’t worry about an exact figure at this time.
If you’re ringing up for quotes make a note of who you’ve rung, who you speak to and ask if it includes all searches and any mortgage related charges, and bank transfer fees.
You could get quotes from local firms, online firms or not so local firms. Ask how they want your documents to prove who you are. A local firm is easiest for this – you may have to factor in costs of getting documents certified and sent to them otherwise. Apparently the post office has this as a counter service for a small charge.
When you make an offer an estate agent will normally ask for your solicitors details so have them to hand when you’re ready for making an offer.
Solicitors will send out a letter stating their terms and conditions and what the charges are and what any extra charges may include.
If you’re buying repossession then make this clear and ask about how fast the process can be done. Sometimes a solicitor who is used to dealing with auction properties is a good bet if you want a fast exchange.
If a solicitor is slow at answering the phone to get a quote or doesn’t ring you back when they say they will, it might not bode well when they’re working for you. Ask about email enquiries as this can be easier for some people than dealing with phone calls.
When you’ve got a few quotes compare them – did one stand out as being more efficient? If you’re not convinced by any of them, get some more quotes.
Insanely expensive 1 bed flat
A one-bedroom flat at One Hyde Park costs £6.5m, and up to £140m for a penthouse.
See the article in the Independent
Article in the telegraph
The location has a posh website too with fantastic pictures of the building work being done!
On google maps it’s still a building site though!
Shelter
Shelter is the homelessness charity but they also give housing advice for people!
They have housing advice on Homelessness
Including: Emergency housing rights checker, Hostels, Help from the council
Eviction & repossession
Eviction of tenants, Mortgage arrears, Landlord repossession, Harassment & illegal eviction
Housing benefit
Local housing allowance, Calculations, Arrears, Discretionary payments
Paying for a home
Deposits, Mortgage arrears, Rent arrears, Debt, Benefits, Social fund payments
Finding a place to live
Emergency options, Letting agencies, Council housing, Supported housing, Buying
Renting & leasehold
Agreements, Joint tenancies, Repairs, Rights & responsibilities, Leasehold
Families & relationships
Splitting up, Domestic abuse, Living with parents, When someone dies, Pregnancy
Affordable Housing
Nothing personal about this particular venture but the phrase “affordable housing” gets my goat!
Plan revived for 269 new homes on edge of Sherborne.
There’s a line in the article that I felt was worth showing you.
Some of the housing will be affordable. This does put the spin on it that, indeed some will be affordable and some will be unaffordable!
Would you like to buy an unaffordable house?
Whilst talk of huge financial turmoil still over inflated debts caused by house price inflation and insane lending, it does strike me as particular silly that this one phrase is still used.
All housing needs to be affordable to the masses! Council waiting lists are packed with people desperate for somewhere to live, yet still developers will be allowed to build unaffordable housing.
Looking up house prices
Want to know how much a house went for? After a few weeks or months it should appear on the land registry figures and every month they’re put out on several websites.
The one I like using best is called House Prices – you can search by street name and town, or by postcode, or part postcode. You can change the number of properties displayed too!
It’s a useful site for tracking down postcodes too!