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Debate House Prices
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Vote on 3x salary mortgage cap
GDB2222
Posts: 26,513 Forumite
Your very own MSE chance to vote on the mortgage cap proposals.
No reliance should be placed on the above! Absolutely none, do you hear?
Do you want a mortgage limit of 3 x salary, except in 'exceptional circumstances' 257 votes
Yes, 3 x salary
49%
128 votes
There should be a limit, but much higher than 3 x
8%
22 votes
There should be a limit, but just a bit higher than 3 x
22%
58 votes
No, there should be no limit
19%
49 votes
0
Comments
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Anybody who lends more than 3x salary and/or 100%+ for a mortgage is stupid.
Let's look at the evidence...0 -
Why on earth should people be allowed to borrow beyond their means then get into debt and have to be bailed out? People who have saved or have been sensible are the ones who are suffering as their interest rates fall. If you cant afford it then live without itACHIEVING THE AIM SINCE.........0
-
I would be v cross indeed if:
- my version of exceptionality does not agree with the lenders' standard (highly likely)
- I was judged by the standard the critical mass of the population has created and penalised for being considered as a bad risk through no fault of my own (unavoidable)
Value-for-money-for-me-puhleeze!
"No man is worth, crawling on the earth"- adapted from Bob Crewe and Bob Gaudio
Hope is not a strategy
...A child is for life, not just 18 years....Don't get me started on the NHS, because you won't win...I love chaz-ing!0 -
Surely if mortgages were capped houses (after the initial drop of prices) would sell like hot cakes.....as more people would be able to afford themIf you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
Why no option for 1 x hourly pay?
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
No answer adaquately represents my views.
0 -
Surely if mortgages were capped houses (after the initial drop of prices) would sell like hot cakes.....as more people would be able to afford them
Don't get me wrong, I'm all for sensible lending, but when houses were well above 3x salary in 2006 and they were still selling like hot cakes.0 -
Don't get me wrong, I'm all for sensible lending, but when houses were well above 3x salary in 2006 and they were still selling like hot cakes.
And we're paying for it now....everyone is paying for it....including those that don't even have a mortgage are paying (or will do when they hike the taxes) for the excessive lending/borrowing
least this way it could be easier to blame individuals and only let those that foolishly over stretch pay for their mistake, and banks wouldn't need to repo so many therefore not needing Goverment bailouts.
Or am I being to simple....don't answer that!If you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
And we're paying for it now....everyone is paying for it....including those that don't even have a mortgage are paying (or will do when they hike the taxes) for the excessive lending/borrowing
least this way it could be easier to blame individuals and only let those that foolishly over stretch pay for their mistake, and banks wouldn't need to repo so many therefore not needing Goverment bailouts.
Or am I being to simple....don't answer that!
I'm simple too.
It's fairly obvious that shed loads of people were irresponsible and borrowed way more than they should have. Organisations were also to blame for lending people silly multiples and 125% mortgages. And, of course, that sort of stuff should cease. However, moving towards some arbitrary, static, rigid, maximum multiple is almost just as silly an idea, in my opinion.0 -
Your right Cleaver....and if they actually did this I think there would be real riots on the streets.....and alot of people unhappy.....which is why I believe it could happen
especially as Labour must know they are dead and buried at the next election
Now as you probably know I'm a FTB so having my borrowing capped is not the ideal thing for me...but I think its a point in the right direction of curbing bad debt....which seriously needs to happen.
I should add future bad debt!If you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0
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