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  • FIRST POST
    • ardvo
    • By ardvo 28th Jun 16, 11:16 PM
    • 40Posts
    • 6Thanks
    ardvo
    Brexits - effect on the HOUSING MARKET ? house prices + Mortgage lenders lending ??
    • #1
    • 28th Jun 16, 11:16 PM
    Brexits - effect on the HOUSING MARKET ? house prices + Mortgage lenders lending ?? 28th Jun 16 at 11:16 PM
    How will leaving the EU has been voted, affect the housing property marking in the next years to come,

    especially house prices ?

    and mortgage lenders offering mortgages ?

    How will they be affected ?
    Last edited by ardvo; 28-06-2016 at 11:27 PM.
Page 55
    • shortcrust
    • By shortcrust 22nd Sep 16, 1:42 PM
    • 1,068 Posts
    • 1,286 Thanks
    shortcrust
    If a 25 year old bought a house today with a 25 year mortgage they would own the house outright at 50. No more mortgage, no more rent, and an asset to pay for care, release equity, pass to family etc in old age. Would a 50 year old who'd rented all their lives and with a lifetime of rent to pay ahead of them really be thinking how lucky they were that they'd dodged that ownership bullet?

    -25 years of mortgage payments vs a lifetime of rent
    -a valuable asset vs nothing

    Oo what a quandary!
    • glasgowdan
    • By glasgowdan 22nd Sep 16, 1:59 PM
    • 1,243 Posts
    • 1,330 Thanks
    glasgowdan
    If you don't have time to explain, then hold back on the throwaway comments. I have no idea what you're are talking about.
    Originally posted by saverbuyer
    In primary school English.. "house price trends have always gone upwards, not downyways."
    • MobileSaver
    • By MobileSaver 22nd Sep 16, 2:42 PM
    • 951 Posts
    • 1,313 Thanks
    MobileSaver
    houses were very affordable in the UK and that actually we're not in a crisis. Are people serious when they type this kind of stuff?
    Originally posted by indianabones
    Here's an example from a report in 2015...

    In Burnley the average income is £20,280 while the median house price is £39,500 ... would you agree that that is rather affordable?

    In other words just because the highly desirable centre of London is out of reach for most doesn't mean that there aren't lots of affordable houses elsewhere in the UK.

    Amazon Prime Customer?
    Don't forget to cancel your automatic renewal unless you are happy with the price hike to £79 a year!
    • divadee
    • By divadee 22nd Sep 16, 2:50 PM
    • 10,327 Posts
    • 17,728 Thanks
    divadee
    Most people buy a property for a home!!! Something to call their own. We have just bought a property after our landlord sold our rented place. Our mortgage is £100 cheaper, we can do what we want to it, we don't have inspections every 3 months, we don't have to worry about every little thing and most importantly to us. It's security and our home. Yea if it makes money from house price rises, brilliant. If not it's still our home.
    • shortcrust
    • By shortcrust 22nd Sep 16, 3:25 PM
    • 1,068 Posts
    • 1,286 Thanks
    shortcrust
    Most people buy a property for a home!!! Something to call their own. We have just bought a property after our landlord sold our rented place. Our mortgage is £100 cheaper, we can do what we want to it, we don't have inspections every 3 months, we don't have to worry about every little thing and most importantly to us. It's security and our home. Yea if it makes money from house price rises, brilliant. If not it's still our home.
    Originally posted by divadee
    My thinking exactly. I'm not going to worry in 25 years time that house prices crashed in 2017. I'm going to be happy that I have a home that I love that's all mine.
    • iantojones40
    • By iantojones40 22nd Sep 16, 3:47 PM
    • 217 Posts
    • 272 Thanks
    iantojones40
    What unfortunate position's that? The part where I own 70% of my new home, where mortgage payments are 13% of our take home pay and 1/3 that of similar rentals, where our mortgage will be paid off in 5 years, I'm self employed and work around 20hrs a week over the year or the part where I've the most beautiful wee boy the world has ever seen, a perfect wife and a baby girl due in 3 months?

    My troll detector was beeping a long time ago, I know your ploy don't worry!
    Originally posted by glasgowdan
    I don't think I've ever come across anybody on the internet or even in "real life" who is as desperate as you are to convince everyone what a perfect life you have, some of your posts are quite bizarre.

    For somebody who claims to be in such a secure and comfortable position you seem to be terrified about the prospect of anything other than never ending rampant hpi for ever and ever.

    If, and that's a BIG IF, you genuinely are in the position you claim to be in then you are extremely atypical of anyone who has purchased s home in recent years and you must have some truly exceptional circumstances, either a huge deposit or a massive income in relation to your local house prices, so for you to be devoting so much time and effort to encouraging people to buy, buy, BUY! Regardless of the cost is highly irresponsible of you
    • iantojones40
    • By iantojones40 22nd Sep 16, 3:56 PM
    • 217 Posts
    • 272 Thanks
    iantojones40
    Most people buy a property for a home!!! Something to call their own. We have just bought a property after our landlord sold our rented place. Our mortgage is £100 cheaper, we can do what we want to it, we don't have inspections every 3 months, we don't have to worry about every little thing and most importantly to us. It's security and our home. Yea if it makes money from house price rises, brilliant. If not it's still our home.
    Originally posted by divadee
    I appreciate this is a rather difficult concept for the hard of thinking to grasp, but you do realise that all other houses will equally have "brilliant" price rises so you won't be in any better position at all, in fact it will cost you more if you wish to trade up to a bigger house or nicer area, or are you hoping that your house will be the only one on the market to have a "brilliant" rise in price?
    • ukcarper
    • By ukcarper 22nd Sep 16, 5:17 PM
    • 10,639 Posts
    • 11,106 Thanks
    ukcarper
    So you don't think the ones buying in 2007 were a bit... thick? Maybe retarded? 30% rise in 2006 told me there was a crash coming.


    I'm in the North so no escape from the negative equity for a few decades yet, never mind a few years. No escape for anyone in Ireland outside of Dublin really.
    Originally posted by saverbuyer
    Thick like all the people in London and the south east who's properties are now worth 50% more.
    Last edited by ukcarper; 22-09-2016 at 5:22 PM.
    • jimbog
    • By jimbog 22nd Sep 16, 5:24 PM
    • 438 Posts
    • 677 Thanks
    jimbog
    I appreciate this is a rather difficult concept for the hard of thinking to grasp, but you do realise that all other houses will equally have "brilliant" price rises so you won't be in any better position at all, in fact it will cost you more if you wish to trade up to a bigger house or nicer area, or are you hoping that your house will be the only one on the market to have a "brilliant" rise in price?
    Originally posted by iantojones40
    Nothing in divadee's post shows an unawareness of that point
    The problem with quotations on the internet is that you can never verify their authenticity - Abraham Lincoln
    • glasgowdan
    • By glasgowdan 22nd Sep 16, 5:46 PM
    • 1,243 Posts
    • 1,330 Thanks
    glasgowdan
    you seem to be terrified about the prospect of anything other than never ending rampant hpi for ever and ever.
    Originally posted by iantojones40
    Where? Evidence please. I'm honestly just a bit bemused, surprised and frustrated that people like you and crashy legend keep saying things that are plainly wrong, as if they're facts. I can only assume you're educated, given you can log on to a device and spell correctly, so why keep making stuff up?

    Yes, I am fortunate I know. I have done well in business and life and I appreciate it. There are many others in similar positions.

    And now that we're all clear that you ARE looking for a house, your desperation to encourage others to believe in HPC becomes clear.
    • nubbins
    • By nubbins 22nd Sep 16, 6:22 PM
    • 602 Posts
    • 819 Thanks
    nubbins
    I don't think I've ever come across anybody on the internet or even in "real life" who is as desperate as you are to convince everyone what a perfect life you have, some of your posts are quite bizarre.

    For somebody who claims to be in such a secure and comfortable position you seem to be terrified about the prospect of anything other than never ending rampant hpi for ever and ever.

    If, and that's a BIG IF, you genuinely are in the position you claim to be in then you are extremely atypical of anyone who has purchased s home in recent years and you must have some truly exceptional circumstances, either a huge deposit or a massive income in relation to your local house prices, so for you to be devoting so much time and effort to encouraging people to buy, buy, BUY! Regardless of the cost is highly irresponsible of you
    Originally posted by iantojones40
    but Ian you wanted to buy in March, you were a little eager beaver disappointed that your 6 offers (at 8% under ask) were rejected. What has happened between then and now to make you so bitter and green eyed. Did you sell up sometime around 2014/15 expecting a crash and then realised you had made a terrible mistake in March 2016?
    • divadee
    • By divadee 22nd Sep 16, 7:32 PM
    • 10,327 Posts
    • 17,728 Thanks
    divadee
    I appreciate this is a rather difficult concept for the hard of thinking to grasp, but you do realise that all other houses will equally have "brilliant" price rises so you won't be in any better position at all, in fact it will cost you more if you wish to trade up to a bigger house or nicer area, or are you hoping that your house will be the only one on the market to have a "brilliant" rise in price?
    Originally posted by iantojones40
    Eerrrrrr no. Where in my post have I said that I was 'hoping' my house will be the only one to rise in price. What I was saying is to me it's primarily out home and always will be. In 25 years (or earlier as we are hoping to overpay) it will be all ours. I'm not paying £100 a month more to pay off someone else's mortgage. I am paying off equity in OUR HOME every month. I am not having someone else tell us we can't do this or that to the property. I'm not having petty letting agents inspecting the property every 3 months.

    If we move of course I know we will have to pay more for a bigger property. But that would happen if their was a crash and all homes became cheaper. Some properties are always going to be more expensive than mine! A crash won't make a blind but of difference.
    • buglawton
    • By buglawton 22nd Sep 16, 8:37 PM
    • 6,395 Posts
    • 2,662 Thanks
    buglawton
    Phew! One of the things to criticise about this thread is the overwhelming support it seems to show for buying vs renting. It shows really that the in the UK the best thing to do is to buy once in a reasonably good employment area then stick forever. Stamp duty and inept solicitors conspire to make moving for work or downsizing when the offspring have flown a bit of a no-no.

    Now in a country where 'generation rent' has existed for 60 years like Germany, people enjoy great job mobility, short commutes and low (often tax deductible) cost of getting to work.

    The UK has a long, long way to go.
    Got a fur sink. An electric dog polisher. A gasoline powered turtleneck sweater. And, of course, I bought some dumb stuff, too. ĖSteve Martin
    • indianabones
    • By indianabones 22nd Sep 16, 8:44 PM
    • 104 Posts
    • 117 Thanks
    indianabones
    Here's an example from a report in 2015...

    In Burnley the average income is £20,280 while the median house price is £39,500 ... would you agree that that is rather affordable?

    In other words just because the highly desirable centre of London is out of reach for most doesn't mean that there aren't lots of affordable houses elsewhere in the UK.
    Originally posted by MobileSaver
    Burnley has a population of 73,000. They're lucky to have such a low average house price, but just done some research and I can safely say that those houses selling for 40k wouldn't fit more than a couple at best. In Burnley you would need to spend upwards of £100k to get something that you could actually call a home and fit more than a washing machine and TV in.

    It isn't just about London, it's many other parts of the country as well. I don't know why every just jumps to use London as an example. What about Manchester, Solihull, Reading, Norwich etc etc.

    If you take the country as a whole, even excluding Greater London you'll have to agree that the prices are not affordable. I'm 31, married with a daughter and I've had to stay at home 6 years! to save up for approx a 40% deposit. I'm not even saving for a special home, just your average 3 bed semi with a side garage in a semi decent area.

    Houses are not affordable for most of us.
    • jimbog
    • By jimbog 22nd Sep 16, 9:05 PM
    • 438 Posts
    • 677 Thanks
    jimbog
    This BBC calculator gives an indication of what is affordable to whom:
    http://www.bbc.co.uk/news/business-23234033
    The problem with quotations on the internet is that you can never verify their authenticity - Abraham Lincoln
    • jimbog
    • By jimbog 22nd Sep 16, 9:09 PM
    • 438 Posts
    • 677 Thanks
    jimbog
    Excuse my naivety, but if you retire does the government give any help to pay towards your rent? Or are you expected to pay the cost (say £600/month or so from your own pension?)
    The problem with quotations on the internet is that you can never verify their authenticity - Abraham Lincoln
    • Crashy Time
    • By Crashy Time 22nd Sep 16, 9:11 PM
    • 2,651 Posts
    • 1,620 Thanks
    Crashy Time
    If a 25 year old bought a house today with a 25 year mortgage they would own the house outright at 50. No more mortgage, no more rent, and an asset to pay for care, release equity, pass to family etc in old age. Would a 50 year old who'd rented all their lives and with a lifetime of rent to pay ahead of them really be thinking how lucky they were that they'd dodged that ownership bullet?

    -25 years of mortgage payments vs a lifetime of rent
    -a valuable asset vs nothing

    Oo what a quandary!
    Originally posted by shortcrust

    Do you know how many 25 year olds are buying houses today?
    • Crashy Time
    • By Crashy Time 22nd Sep 16, 9:12 PM
    • 2,651 Posts
    • 1,620 Thanks
    Crashy Time
    Excuse my naivety, but if you retire does the government give any help to pay towards your rent? Or are you expected to pay the cost (say £600/month or so from your own pension?)
    Originally posted by jimbog

    What about if you have never worked, do they keep paying your housing benefit?
    • jimbog
    • By jimbog 22nd Sep 16, 9:35 PM
    • 438 Posts
    • 677 Thanks
    jimbog
    Do you know how many 25 year olds are buying houses today?
    Originally posted by Crashy Time
    No, I don't. Do you?

    Thought not
    The problem with quotations on the internet is that you can never verify their authenticity - Abraham Lincoln
    • jimbog
    • By jimbog 22nd Sep 16, 9:41 PM
    • 438 Posts
    • 677 Thanks
    jimbog
    What about if you have never worked, do they keep paying your housing benefit?
    Originally posted by Crashy Time
    I honestly don't know as i've never been in that position. Perhaps you might enlighten us?
    The problem with quotations on the internet is that you can never verify their authenticity - Abraham Lincoln
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