To sign contract for Affordable offer?

You’ve just said everything I’ve been thinking myself, have just been trying to rationalize something I’d warn someone else off - actually feel relieved now.

Thanks for all the advice…off to buy a pair of shoes!

**Edenmore AOK wrote:

:laughing: :laughing: :laughing:

**jen1977 wrote:

I won’t comment on what I think of 40 year mortgages cos there could be youngsters reading this forum 8)

Just to let you know I think a lot of people are turning down these AH schemes.

I have been on the AH panel for 3 years and I have been offered 5 properties in the last 8months! The best one was one in the docklands, however it was a one bed apartment :astonished: (they wanted 220k). I turned it down as getting married and plan to start a family soon, I can’t imagine living in a 1bed apartment with no parking!

Since then I have been phoned with offer after offer! People are turning them down, there must be a reason???

Because it’s overpriced junk built by greedy short sighted fuckers that nobody in their right mind would want to tie themselves into for 20 years?

Heard an ad on the radio this morning for the AH. Hopefully we’ll be seeing the back of the whole joke of a scheme shortly.

Any idea who was the clown who introduced it in the first place? I’d bet at any odds it was a Fianna Failure minister.

Yeah have to say alarm bells started ringing for me when I heard that add…the tide has turned so much in the year to two since I applied.

Thing is I had been waiting so long and it was kind of an excuse to get out of a personal situation that doesn’t suit me - holding off for a year or two is not something I’d planned for. I would not buy anything out there at present on the open market for 240k

I’m still going to go through to the final stages - go through the contract with the Solicitor, see if I can get the NE clarified in writing and see if both the price offered and MV can be haggled. Can’t see myself signing anything though.

I’ll keep you posted

As I said earlier I was being targeted directly by an EA firm without being on any list. I had merely enquired about the property because I wanted to know what the clawback was. They put on the hard sell. Told me it was the last one on the shelf.

I think it should be accepted and made widely known that someone offered an AH hasn’t been extremely lucky rather they have been targeted by desperate people with alot of self interest that want to benefit off them and the taxpayer.

One thing I don’t get though is why the local authorities aren’t more bearish about the valuations. Its their money (sort of) that is being spent. In cahoots perhaps?

Just another question for all the experts who regularly post…

Is a relatively low mortgage now with fixed interest rates at 5.3% APR (can fix for 5 years) not a better alternative to a lower mortgage in a couple of years with really high interest rates, as forecasted?

What I’m wondering is could we have a situation whereby properties have decreased in value and for example a three bed semi has reduced to 240k but interest rates are so high that mortgage approval is a no no and property once again becomes unaffordable for the average worker? I know no-one can predict that future but any feedback appreciated!

Rents at the moment are still considerably higher than this mortgage would cost a month

No it’s OUR money, when have you ever heard of a government body giving a damn about value for money :imp:

Also, i did read somewhere that you cannot overpay to reduce the term on a AH mortgage. Double check this aspect if you go for it.

As i stated before, i turned down AH in '06 for precisely the same reasons as outlined by posters.

You’re putting the cart before the horse here I suspect. House prices are a function of what the banks will lend. If the banks reduce lending to owner occupiers as you suggest then (now we’re seeing specuvestors bailing out) prices will fall to reflect that.