to wonder when reality will hit house prices?

[TalkinPeace2]

Rightmove chart of house asking prices :
www.housepricecrash.co.uk/indices-rightmove-national.php
August 2011 average is £231,543
Land registry chart of what houses actually sell for :
www.housepricecrash.co.uk/indices-land-registry-national-monthly.php
August 2011 average is £163,049

£68,494 less

so there are THOUSANDS of homes sitting on the market with unrealistic asking prices that buyers cannot get a mortgage for
and then politicians tell us to build loads more houses - that people still cannot afford.

Estate agents are LYING to people who want to move about what property is really worth.
When will we all stop kidding ourselves?

Framey I'm not sure if I have a triple A credit rating, I just know from Experion that's it's in the excellent bracket, and my bank say I have the top rate there. My mortgage broker hasn't given me that multiple - I got that direct from my existing lender which, as Oakmaiden found, won't lend me the amount they are already lending me despite my mortgage being sold as a portable tracker. For the bigger house we thought we could afford even a 6 multiple isn't going to work until the year my earnings dropped (a baby and an unplanned adoption) is out of their 3 year view. I actually know someone who is investigating the mortgage lenders for this type of discrimination against mothers.

Do you have an independent broker? Most mortgages are now calculated by affordability rather than income multiples apparently so your credit card or car loans will be taken off and they also factor in dependants. Halifax is the only lender that doesn't take into account so called affordability although their interest rates reflect that slightly. If you have a large deposit you'll probably be able to get a good deal anyway.

Thanks Framey, we've seen all the mortgage brokers on earth, including ones specialising in contractors and freelancers. No go. What do you mean by affordability rather than multiples - I thought they were the same thing? I mean, basically the lender is saying that even though I would have a huge financial interest in the property and no other debts, they don't believe on the basis of my salary that I can afford the repayments. Er, even though I'm already making them...