Buying a house

Huyton_Red · April 2, 2008

My little sister is getting married this month and wants a house with her new husband, she currently rents

As somebody who knows absolutely f'ck all about mortgages, housebuying and all that other stuff (me missus looks after all that) can anyone explain what is actually going on with a local angle to it, ie how this all effects the liverpool housing market

How long do you think it is advisable for a typical first time buyer to wait before buying ? Everything I read at present suggests quite a significant fall in house prices, is this true for the Liverpool area and how much do you think they will fall?

Are the house price falls going to be caused by lack of first time buyers, reposessions on people who's are mortgaged up to the hilt and they are effectively surviving due to the discounted rates that have beeen on offer for several years ( I always wondered how in liverpool the average house price can be six or seven times the average salary) or will it just be that hardly anyone will be able yo get a mortgage at a decent rate thereby reducing dramatically the amount people can borrow and therefore spend on houses

What is actually going on and what would your advise be to a first time buyer ?

Gunga Din · April 2, 2008

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