Homebuyers could be forced to put down a deposit of at least 15 per cent

ninky_2

ukcarper wrote: »

Like I said I agree with most of what you say but surely house prices are goverened by what people can borrow.
.

therefore they shouldn't be allowed to borrow anything

no mortgages = affordable housing

lostinrates

ninky wrote: »

therefore they shouldn't be allowed to borrow anything

no mortgages = affordable housing

Does the social inequality of gifts of houses from richer parents concern you?

ILW

ninky wrote: »

therefore they shouldn't be allowed to borrow anything

no mortgages = affordable housing

Does not add up.
It costs about £80,000 to build a house. Nothing would get built unless FTBs had 80k cash saved up. That would make 25% deposits look small.

Kenny4315

ukcarper wrote: »

Like I said I agree with most of what you say but surely house prices are goverened by what people can borrow.

if you put down 25% and get a 6x salary mortgage thats what the price will and if you put the same deposit down and get 4x salary house price will be 2x salary less.

But now if you don't pay with 25% down the banks not going to get stung, you are, and you'll be a lot more careful.... don't you think ?

If I self certified with a 25% deposit I make damn sure that I could pay it.
If I self certified with 10% deposit I be less careful.
If I self certified with 0% deposit I wouldn't give a rats arze.

Especially with this personal bankruptcy being a get out clause.

ninky_2

lostinrates wrote: »

Does the social inequality of gifts of houses from richer parents concern you?

no. so long as someone having more doesn't mean others having less i don't see a problem. it might make some jealous but this is a psychological issue not an economic one.

ukcarper

lostinrates wrote: »

I probably gloss over posts where people expect to buy a house that easily. The posts I'm thinking of are the people who have saved or sold to rent.

A lot of people seem to be hoping for a 70% drop which would put a house similar to my first house down to £63,000. I paid £8000 for it when the average wage was £1600 per year. 10% of £63000 = £6300 ok not a months salary but not an enormous amount in this day and age and a lot less than £800 as a % of average wage.

ninky_2

ILW wrote: »

Does not add up.
It costs about £80,000 to build a house. Nothing would get built unless FTBs had 80k cash saved up. That would make 25% deposits look small.

i point again to iran. a nation where there are no mortgages but overwhelming amounts of home ownership.

ninky_2

ILW wrote: »

Does not add up.
It costs about £80,000 to build a house. Nothing would get built unless FTBs had 80k cash saved up. That would make 25% deposits look small.

also, most FTBs can't afford a house. It doesn't cost 80k to build a 1 bed in a block.

ukcarper

Kenny4315 wrote: »

But now if you don't pay with 25% down the banks not going to get stung, you are, and you'll be a lot more careful.... don't you think ?

If I self certified with a 25% deposit I make damn sure that I could pay it.
If I self certified with 10% deposit I be less careful.
If I self certified with 0% deposit I wouldn't give a rats arze.

Especially with this personal bankruptcy being a get out clause.

That makes sense but has sense got anything to do with it

lostinrates

ninky wrote: »

i point again to iran. a nation where there are no mortgages but overwhelming amounts of home ownership.

Makes me wonder what population density is, and planning permission like.