the failure to build enough homes in recent years means uk house market could start a

andys15

pickles110564 wrote: »

And who is going to give out 100% mortgages?
These banks that have just been bailed out will not be that stupid again, well not for at least 10 or so years.

Gordon brown, the part owner of about 4 banks

Cat695

pickles110564 wrote: »

And who is going to give out 100% mortgages?
These banks that have just been bailed out will not be that stupid again, well not for at least 10 or so years.

Thats what we all think and it makes sense to not do that.....but deep down you know its going to happen! because they are just after money.

andys15

andys15 wrote: »

Gordon brown, the part owner of about 4 banks

Gordon brown wants the house market to stabalize, he sees this as the way to get out of the problems we are facing. Introducing 100% mortgages is one way to stabilize the market. It gives potental home owners confidence in that fact that banks are not going to borrow money on a depreciaitng asset, so by offering 100 per cent, people will feel house prices wont crash. If people feel house prices wont crash (people are not worried about house prices just falling) then they will buy again.

StevieJ

ad9898 wrote: »

StevieJ, you seem to be pretty bullish on these forums, whats your story ?, have you bought recently ?, I'm not being a p**ck, just interested as your views seem to be very much the minority.

Posters such as 'Realy' has bought recently but seems pretty much to be in the camp of falling prices, which given the evidence is a fairly safe bet.

I am pretty neutral, that ranks as a rampant bull on here, I have a minimum mortgage paid most of it down last year and house prices coming down or (going up) doesn't really bother me. I just tell it as I see it:
Before the credit crunch I thought that house prices had topped out in late 2004 and that markets would stagnate for a few years.
My view recently was for a sharp fall of 20% caused by the credit crunch, with markets starting to pick up next spring.
My one bugbear is that no one accepts that with reduced inflation and interest rates a step change in house prices was to be expected, they keep going on about 3 times salary as mortgage cap.

stevetodd

pickles110564 wrote: »

And who is going to give out 100% mortgages?
These banks that have just been bailed out will not be that stupid again, well not for at least 10 or so years.

Pickles this is not aimed at you, I have responeded to your post because you riased the question.

Listen people get real! no lender is going to offer a 100% mortgage when property prices are falling (I mean think about it, the lender soon goes into a negative situiation) , please get real and for god's sake stop emabarressing yourself further by posting such rubbish.

andys15

stevetodd wrote: »

Pickles this is not aimed at you, I have responeded to your post because you riased the question.

Listen people get real! no lender is going to offer a 100% mortgage when property prices are falling (I mean think about it, the lender soon goes into a negative situiation) , please get real and for god's sake stop emabarressing yourself further by posting such rubbish.

because it would be a ploy as i have already explained to try and stabilize the market. You have answered my point. No lender would give 100% oon a falling market. So if they did give 100% mortgages, it would mean to me the banks feel house prices are not dropping, customer confidence is restored. House prices stabalize. Dont be naive enough to think that noone can afford to buy houses, people are just scared, take away the fear and they will be back onboard.

wolfman

andys15 wrote: »

"the failure to build enough homes in recent years means uk house market could start again before usa" Gordon Brown
"
how long before 100% mortgages are back?

Absolute rubbish. There was a BBC3 programme about the number of uninhabited houses in the country.

Hundreds around the north circular when the government wanted to build an extra lane, which has now been scrapped.

15,000 in Liverpool apparently, including most of the houses on Ringo Star's old road.

Not to mention all the new builds and vacant flats everywhere.

100% mortgages won't be back anytime soon. Banks simply won't take the risk. Especially with the monthly decline in house prices, you'd be in negative equity straight away. They'll offer better rates over time, but not 100% mortgages.

House prices will continue to fall. People can get mortgages now, but either don't have the deposit, or do, but are simply waiting for prices to fall further. I fall into the latter category. I'm in no rush, and will happily wait as prices are dropping £1-2k a month, while I'm saving about £1k myself.

Realy

ad9898 wrote: »

Posters such as 'Realy' has bought recently but seems pretty much to be in the camp of falling prices, which given the evidence is a fairly safe bet.

Cheers, I am certainly for falling at the moment. If any of this as an effect on prices you would still not look at prices stopping falling before 1st or 2nd quarter 09 (note the word if)
Personaly I think we are going to see stabelization 2nd half of next year or the year after, but inflation getting a hold (including wage inflation).
That is where I am at the moment.

hethmar

I had to larf at the £800 for a gang of brickies to build a house. You are kidding arent you! They would charge that for a days pay. Digging the foundations alone would be several thousand, let alone the materials needed.

dopester

hethmar wrote: »

I had to larf at the £800 for a gang of brickies to build a house. You are kidding arent you! They would charge that for a days pay. Digging the foundations alone would be several thousand, let alone the materials needed.

Hold on.. I didn't say anything about the foundations - nor to build the entire house, with the roof and floorboards and everything else. And I did not include material costs.

I was recalling a post on HPC where the poster said some brickie gangs get about £800 to lay the bricks per house from a developer, on standardish new-builds. Since then I've tried to find the post but haven't been able to.

If so, I'm sure the developer would have different gangs doing different jobs. (And I did say "I'm sure I read" - leaving open the possibility I was mistaken).