home purchase companies..

I was reading an article on these companies a couple of months ago, I'll attempt to link it here but don't hold your breath, that wrote the average offer is 75% of the properties value and some offers are as low as 60%! They obviously cater for people in dire financial straits and heap more misery on them.

hi JML
with the same EA! yeah i lost my job mate so i thought about taking it off the market but didn't. I took the overs 110k off and put it at 115 instead and thought if it goes it goes. A lot of similar properties are up for £130k.
A couple have sold recently one for 120k & £113k top & grd floors but as you said a while back they you need to get lucky and they probably did. I'm would not expect prices to rise over the next 5 or so years but if you took a longer term view ie 20 years could it be possible???
It wouldn't be a problem for me owning two properties as i'd have about a 50% deposit and the rent would well cover the payments, that said it would need to be occupied.

Hi buzzer looks like thats not a great route to take but i never really expected it to be tbh.

cheers

Hi JML

The fact that you don't work makes a big difference.
There is no chance of you getting a mortgage no matter how much deposit you have.
If you start a new job you're unlikely to get a mortgage for some time.

questions that certainly need answering, my thoughts about what i may plan to do may well not happen but i'm just looking at all avenues.
I'm self employed and finished work at xmas but have been doing odds & ends at home so i've had a tiny income coming in, the fact that i'm self employed meant that i had to show my previous 3 years accounts. I have the mortgage in principal (upto 180k no way do i need that much). There is a bit of work about but i'm one of those people who tends to let work find me as at present i'm financially stable and like to do my bit on betfair. So the work scenario can be overcome aslong as i find work as it's easy to muddy the waters when your self employed.

You proberbly wouldn't be able to claim benefits (if needed) if you spent all your savings to move to a more expensive property.

As for the benifits i can't claim benifits now because of my savings and because of my national insurance contributions.

Why are you moving to a different location?
Why are you against renting for 6/12 months in this new location?

I thought of the different location because i have friends there who always ask me why i don't move there, plus i really like the place and what you can buy for and the price differences are massive, i say i would have a 50% deposit there's plenty of places i could buy outright with that deposit or maybe use it as a 75% deposit.
I've not thought about renting in this new location, maybe that's a good idea and worth considering, my initial thoughts about moving there if i sold were what if things do not work out or just that i preferred where i was previously it would be a big move back again but if i keep my property in my current location and rent it  i'd always have somewhere to go back to. That question has made me think that renting for 6/12 months in the new location would not be a bad idea as if there was a problem i could just trundle back off home after a fixed period and things would be back as they were. I've never been a big fan of renting but i see the logic in it in this scenario.

Cheers for the questions JML each one is relevant and needs to be taken into accout