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Debate House Prices


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Quarter of Brits on interest only mortgages

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Comments

  • nearlynew
    nearlynew Posts: 3,800 Forumite
    Really2 wrote: »
    OK I am off your debt junkie list then.

    What?

    You are no longer an HPI cheerleader?
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    nearlynew wrote: »
    What?

    You are no longer an HPI cheerleader?

    Can you show me a time I have ever said house prices are going to go up in the short to medium term?

    You may be looking for some time. I have always said 25-35% down and stagnation for a reasonable amount of time.

    Then again is that a "HPI cheerleader" on here.

    I think a few of the older more reasoned bears will back that up.
  • bluey890
    bluey890 Posts: 1,020 Forumite
    nearlynew wrote: »
    What?

    You are no longer an HPI cheerleader?

    I see your perception is poor for both fellow posters and house prices.
    You should have gone to Specsavers. :cool:
    Favourite hobbies: Watersports. Relaxing in Coffee Shop. Investing in stocks.
    Personality type: Compassionate Male Armadillo. Sockies: None.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I reckon I have been the most optimistic of the so called bulls and even my forecast was for a fall -20%, not exactly HPI icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • shakerbaby
    shakerbaby Posts: 413 Forumite
    Dan: wrote: »
    If you work hard, you could clear the balance of an IO mortgage much quicker then a 25 year repayment.

    Absolutey meaningless. No one knows what cards fate will deal you. :rolleyes:
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    shakerbaby wrote: »
    Absolutey meaningless. No one knows what cards fate will deal you. :rolleyes:

    What a ridiculous comment. You could say that about anything in life.
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    You could try and get fate to use your Paul Daniel's magicians kit cards I suppose.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    geoffky wrote: »
    oh dear.....looks like trouble to me....


    New research has shown that nearly one-quarter of British homeowners
    are paying off their mortgage on an interest-only basis
    .

    Conducted by moneysupermarket.com, the report found that 23 per cent of borrowers in Britain are not making capital repayments, despite the fact that switching could save them up to £40,000.

    Hardly new research. These figures have been available on the FSA website for some considerable time!
    are not paying off their mortgage by being on an interest-only basis

    The problem cases are with the sub prime lenders, Northern Rock and the vast amount NR securitised through Granite.

    As these households are on penal rates of interest affording the capital repayments for many is nigh impossible. An issue that won't be easily resolved.

    Rising interest rates will be extremely difficult for many people to handle.
  • nicko33
    nicko33 Posts: 1,125 Forumite
    Dan: wrote: »
    If you work hard, you could clear the balance of an IO mortgage much quicker then a 25 year repayment.
    Why does working hard come into it?
    Isn't the point of IO that the money you are not reducing the balance by is working harder for you (by getting a return, after tax, greater than your mortgage rate) ?
  • shakerbaby
    shakerbaby Posts: 413 Forumite
    lostinrates wrote: »
    You could try and get fate to use your Paul Daniel's magicians kit cards I suppose.

    Somehow I doubt the skills of Paul can magic away excessive debt.

    "Now you see it.... oops now you still see it. Best pay it back then" :rotfl:
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