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Debate House Prices
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And So It Begins.... High LTV lending to return
Comments
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Bank of mum and dad closed the minute they ended in negative equity with 3 BTLs on IO loans
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PasturesNew wrote: »I never knew anybody who had a bank of mum and dad. A few quid here and there maybe, but nothing like a deposit for a house or anything big. Just quick bail outs, £50 here and there until payday.
It's either a newer thing, or the power of the internet connecting more people whose lives would never have crossed before.
From a group of 9 of us, all still in contact from school, 4 have had deposits, or at least help, with houses. One had their whole house bought for them and they are paying back as and when.
Not neccesarily rich families either....well at least, you wouldn't assume they were rich families from their lifestyle, i.e., house, car etc...never truly know.
The key, however, is unfortunately, these friends grandparents had died, so I guess the houses passed down to their parents allowed this to happen.
It probably is, as you state, a new thing. Being on the recieving end of a house from relatives, after the recent HPI is a huge influx of cash.0 -
PasturesNew wrote: »I never knew anybody who had a bank of mum and dad. A few quid here and there maybe, but nothing like a deposit for a house or anything big. Just quick bail outs, £50 here and there until payday.
It's either a newer thing, or the power of the internet connecting more people whose lives would never have crossed before.
I bought my first house two decades ago with a gifted deposit from parents.
My parents bought in the 60's with a gifted deposit from my grandparents.
It's not new, it's always been that way.
Most of the people I know had help with their first home, and will help their children when the time comes.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I didn't have any help. However I will probably be expected to cough up when required.HAMISH_MCTAVISH wrote: »Most of the people I know had help with their first home, and will help their children when the time comes.0 -
Of our friends who have bought most of whom we've discussd it with (far too many, its boring topic socially) have said they've had help in one way or another. My parents, and DH's mother, bought without help, DH's father's first home was a gift.
We're not getting help financially Being able to cut costs and stay at my parnets' home has helped a lot. That said, with DH's lodging costs and our storage costs I do wonder if we could rent suburbanly for a similar amount. I don't know, wouldn't hav been so good for us anyway.0 -
When will these debt pushers learn? We want more affordable housing via lower prices NOT by doubling the amount of debt we can apply for."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0
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HAMISH_MCTAVISH wrote: »I bought my first house two decades ago with a gifted deposit from parents.
My parents bought in the 60's with a gifted deposit from my grandparents.
It's not new, it's always been that way.
Most of the people I know had help with their first home, and will help their children when the time comes.
Well my parents didnt have ANY assistance. And (when the time comes) Mrs Yak. and I buy we almost certainly wont get any assistance either."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0 -
When will these debt pushers learn? We want more affordable housing via lower prices NOT by doubling the amount of debt we can apply for.
Then build more houses, and prices will come down.
But as long as we only build 1 new house for every 3 new households we create, prices will rise, as only the top erning 30% of society need to be able to afford them.
Simples.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Then build more houses, and prices will come down.
But as long as we only build 1 new house for every 3 new households we create, prices will rise, as only the top erning 30% of society need to be able to afford them.
Simples.
Well that isnt sustainable. If prices rise so much that only an elite band of people can afford to buy, population (and skilled labour) will move away."For those who understand, no explanation is necessary. Those who don't understand, dont matter."0 -
Your article is complete crap hamish and you know it.
No way will the Mortgage companies allow this to happen and if it goes ahead, they will do their upmost to stop it. It is complete lunacy.0
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