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Debate House Prices
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A question for the optimists
Comments
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I have an interest only mortgage with 75% equity.
But then again, I could make that 100% equity as I have over 100% the value of my property sitting as cash in the bank and other investments.;)0 -
I have an interest only mortgage with 75% equity.
But then again, I could make that 100% equity as I have over 100% the value of my property sitting as cash in the bank and other investments.;)
Good for you (although an unusual first post on a closed forum).
Prices are set at the margin, not by the smug.
<dons flame proof jacket>0 -
Yes because I think that the UK Government will be forced to re-examine its policies vis-a-vis welfare spending.
Does that mean they will not be supporting the rental payments of the unemployed as well, mmm should be interesting :eek:'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 Thatcher0 -
Cannon_Fodder wrote: »About a quarter of mortgages are Interest Only, so have 0 equity.
errr....do you want to have a little think about this Cannon?
(Apologies if he's already been pulled up, I haven't finished reading the thread)0 -
Haven't read the whole thread but just wanted to say that people on interest only mortgages don't necessarily have no equity.
For example, we have an interest only mortgage. We purchased in 07 and put down a deposit of 100k. We put down a further 16k in 08 and save into an ISA as well as an instant access savings account. Okay, so the market's gone down since we bought but nowhere to the extent that we are left with no equity.
We owned our previous house for a year and had a standard repayment mortgage. In that year we paid off £500. Woopydoo. I owned a flat from 2002-2006, also with a repayment mortgage. I can't remember precisely how much of the mortgage I had paid off but it was a derisory sum.
Just because people have interest only mortgages don't assume that none of them have savings/repayment vehicles which they actually pay into.0 -
Good for you (although an unusual first post on a closed forum).
Prices are set at the margin, not by the smug.
<dons flame proof jacket>
Sorry my post offended you - I was merely supporting the point made by others such as SteveJ and Ukcarper.
Actually, I'd say my situation was comfortable, not smug.0 -
:rolleyes:HAMISH_MCTAVISH wrote: »No. We crashed because global credit markets froze up after the American sub prime mess exploded.
FTSE-100 on September 14th 2007: 6289
FTSE-100 on December 28th 2007: 6477
For anyone who has forgotten September 14th was the day Northern Rock went plop. Halifax data has house prices peaking in August 2007, Nationwide in October 2007. Yet, global equity markets were far from perturbed about the little mortgage-related problems going on in Blighty. British sub-prime collapsed before American. Amazing how anyone can believe Gordon Brown's narrative about the "American sub-prime market" being responsible for our problems."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
No it doesn't mean that.
I agree things will be interesting. Whether that's good or bad interesting remains to be seen...
Why would they not support the mortgage interest then? don't see the difference.'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 Thatcher0 -
:rolleyes:
Amazing how anyone can believe Gordon Brown's narrative about the "American sub-prime market" being responsible for our problems.
Amazing how anyone doesn't believe that
'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 Thatcher0
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