FTB's and buying now..

toocan

wymondham wrote: »

I don't recall saying anyone is an idiot. I do try to be polite!

It might be quite a while before people who have max'ed out and recently purchased can sell if this whole scenario plays out...

they could sell now and it not affect them as althought there selling there house at a lesser price they would be buying a lesser price.

wymondham

toocan wrote: »

they could sell now and it not affect them as althought there selling there house at a lesser price they would be buying a lesser price.

.. but if you sell for less than your mortgage, then this difference has to be repaid when you redeem the mortgage - before you get round to buying the next house... ok if you have savings, but what if you don't?

Gangstabird

wymondham wrote: »

not so sure, police are being laid off around here, as are nurses......

So the police in your area are being made redundant, also the nurses (I can understand this if a hospital is shutting down).

I have to be honest and say that I have never, ever heard of a police officer being made redundant.

However, an acquaintance of mine tried to get in the Met recently and was given a letter stating that they are only recruiting Ethnic police officers at present.

I was a bit shocked to hear that as was he. Seems a bit discriminatory but that's a whole different story.

Gangstabird

Should have added where do you live. Is it an island where there are only 5 people within a distance of 20 miles and you have 2 coppers but no crime:D

toocan

wymondham wrote: »

.. but if you sell for less than your mortgage, then this difference has to be repaid when you redeem the mortgage - before you get round to buying the next house... ok if you have savings, but what if you don't?

the mortgage products ive looked at are portable i didnt realise they did ones that arnt? if thats the case yes it would be bad

dopester

Gangstabird wrote: »

If you work in a factory making patio furniture at the moment for instance and you take on a mortgage, you have GOT to think about the future, especially if you are going into a deal with little deposit.

Are people really going to be spending on patio furniture if the sh it hits the proverbial fan...............

Exactly.

People ought to prepare themselves for a life without the HPI economy, and brush up on stuff like their sowing skills, so they can stitch together footballs together to scrape together a living and export them to our Russian/Chinese/Singapore ect paymasters.

What G Brown wouldn't give to have the firepower of just one of the sovereign wealth funds. Alas you partied it away.

Seriously, this country really needs to find new ways to compete.

Gangstabird

Thank God my DH can make a bed from sticks, start a fire with his nerdy glasses and knows what stuff to pick up & eat. We are all doomed:eek:

I know a lot about money & stuff and that's it.

Wheres me' can opener:rotfl:

Gangstabird

Sorry Dopester, that wasn't aimed at you, just a take on how it it could never be.

dopester

wymondham wrote: »

not so sure, police are being laid off around here, as are nurses......

Are you sure? Someone on the forums, married to a police officer, told me that policemen* couldn't be made redundant. I tried to research that but didn't find any info.

Nothing surprises me though. The public purse is going to be under severe pressures with less revenue to kiss out to everyone. And under since 1997, the public sector grew from 38% of the workforce from the previous Conservative government to 48% under Labour.

*Edit: Policemen / Policewomen ect.

wymondham

toocan wrote: »

the mortgage products ive looked at are portable i didnt realise they did ones that arnt? if thats the case yes it would be bad

Interesting point, I don't know, but can someone help here - do 'portable' type mortgages need to be redeemed in the same manner as normal ones, or do they simply transfer to the new property regardless of equity etc..???? Does anyone know?