New Posts For Thread: Financial advice on buying a house neededhttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-neededThe house is £5000,000 but estate agent hinted there is haggle room. Personally my wife and I have approx. 200,000 in liquid funds but her mum who was thinking if relocating near us in a year or two could sell her house now and move. Its not a very* pitfallshttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546920691#546920691* pitfallsMon, 23 Nov 2015 05:46:29 -0600A bridging loan can be useful but the itfalls could be a dip in the market after making a commitment before the second action occurs. We amy well be ina bubble and the run up to xmas often sees the market go quiet. There is usually a cycle which seeshttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546920687#546920687A bridging loan can be useful but the itfalls could be a dip in the market after making a commitment before the second action occurs. We amy well be ina bubble and the run up to xmas often sees the market go quiet. There is usually a cycle which seesMon, 23 Nov 2015 05:46:11 -0600Some advice from an older man (me).1/ A betting forum full of fantasists is not the place to go for advice.2/ Sounds an extremely expensive house at £5000,000! I think you mean £500,000.3/ Do not get your commas in the wrong place if you put in a bhttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546920401#546920401Some advice from an older man (me).1/ A betting forum full of fantasists is not the place to go for advice.2/ Sounds an extremely expensive house at £5000,000! I think you mean £500,000.3/ Do not get your commas in the wrong place if you put in a bMon, 23 Nov 2015 04:44:02 -0600Be very wary of bridging loans, particularly when you are relying upon events in the future to clear the loan. They can get very expensive and if the market turns as it can at any time you can be left in an impossible position. Your mother in law's hhttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546919997#546919997Be very wary of bridging loans, particularly when you are relying upon events in the future to clear the loan. They can get very expensive and if the market turns as it can at any time you can be left in an impossible position. Your mother in law's hMon, 23 Nov 2015 02:30:05 -0600Your advice is much appreciated Charwell. Thank you very much. I just want to be in a position when we view the house to show we might not have all the cash but the rest could be got easily. I might ask for more advice during the week. Knowing the pohttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546918699#546918699Your advice is much appreciated Charwell. Thank you very much. I just want to be in a position when we view the house to show we might not have all the cash but the rest could be got easily. I might ask for more advice during the week. Knowing the poSun, 22 Nov 2015 19:26:34 -0600I think the house the house we are looking at could be bought for at least 10% under asking price. We could not compete with anyone else bidding on it in competition which I hope and think might be the case. Because for certain reasons it will requirhttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546918597#546918597I think the house the house we are looking at could be bought for at least 10% under asking price. We could not compete with anyone else bidding on it in competition which I hope and think might be the case. Because for certain reasons it will requirSun, 22 Nov 2015 19:12:31 -0600You may find this useful. Google experts near you for further advice. Interest rates vary due to a number of factors but are obviously high. However, in a position like yours it's essential. http://www.moneysupermarket.com/loans/bridging-loans-guide/https://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546918573#546918573You may find this useful. Google experts near you for further advice. Interest rates vary due to a number of factors but are obviously high. However, in a position like yours it's essential. http://www.moneysupermarket.com/loans/bridging-loans-guide/Sun, 22 Nov 2015 19:10:00 -0600The house with neg equity on it which I presently rent is in n.ireland. Had hoped we could buy it at some point in near future with owner taking a manageable loss and us paying a bit over market value but discovered last week the neg equity on it andhttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546918539#546918539The house with neg equity on it which I presently rent is in n.ireland. Had hoped we could buy it at some point in near future with owner taking a manageable loss and us paying a bit over market value but discovered last week the neg equity on it andSun, 22 Nov 2015 19:05:56 -0600p.s surprised your house has negative equity given house prices have never been higher? Which area is it in?https://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546918467#546918467p.s surprised your house has negative equity given house prices have never been higher? Which area is it in?Sun, 22 Nov 2015 18:52:51 -0600If a 3 bed sold for 325 I would expect 2 bed for around £265-£270k. Most properties in that sort of range are 3 bed and that is the most in demand so the gap between 2 and 3 is usually higher than people think. Also if you need a quick sale they cahttps://community.betfair.com/chit_chat/go/thread/view/94038/30619213/financial-advice-on-buying-a-house-needed?post_id=546918463#546918463If a 3 bed sold for 325 I would expect 2 bed for around £265-£270k. Most properties in that sort of range are 3 bed and that is the most in demand so the gap between 2 and 3 is usually higher than people think. Also if you need a quick sale they caSun, 22 Nov 2015 18:51:06 -0600