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Debate House Prices


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Number of First Time Buyers Down

2»

Comments

  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Chris2685 wrote: »
    Thanks chucky,

    Looks like the source for their data was http://www.cml.org.uk

    Unfortunately you need to sign up to get the full data (and I presume the FTB data).

    This was an interesting one to look at though, but really unrelated to this thread:
    http://www.cml.org.uk/cml/filegrab/Grossmortgagelendingtable-July2010.xls?ref=7315

    This one tells you a little about FTB data, but not much: http://www.cml.org.uk/cml/media/press/2682
    the problem with looking at gross mortgage data is that it includes remortgages. historically there was lot's of remortgage transactions, now there are much less due to the lower rates available to existing borrowers with SVRs and older trackers. why move 9off them if you got a dcent rate...

    FTB lending is lower - you just got to look at the deposit requirements for a mortgage to tell you it's tough.
  • Chris2685
    Chris2685 Posts: 1,212 Forumite
    True. If average mortgage is 150k, as it seems by their figures, you're looking at paying nearly 1k a month just to pay the mortgage at 5%/6%, not to mention the fact that you will probably need a 15% or 20% deposit. Not sure how many would be FTB's can afford 1k a month + 20k/30k deposits without some financial help from the parents, even a couple would struggle at that I think.
  • System
    System Posts: 178,376 Community Admin
    10,000 Posts Photogenic Name Dropper
    Graham_Devon wrote: »
    It's comparing it to last month, not quarter on quarter.

    Seriously?
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    An average of about 38% over your data, chucky - back of a fag packet calculation, anyway.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    As prices continue to fall, FTB deposits will rise as a percentage of purchase price.

    so it's not all doom and gloom.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    neverdespairgirl wrote: »
    An average of about 38% over your data, chucky - back of a fag packet calculation, anyway.
    it's actually 37%

    percentage FTB is one dimensional
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    nearlynew wrote: »
    As prices continue to fall, FTB deposits will rise as a percentage of purchase price.

    so it's not all doom and gloom.
    lol - you still spinning this one... brilliant...

    did you not realise that the average mortgage amount is 10% higher than last year?

    it's not good that people have to pay more for property but it's the way it goes unfortunately.
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    chucky wrote: »

    it's not good that people have to pay more for property but it's the way it goes unfortunately.



    Not round my way.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • Heyman_2
    Heyman_2 Posts: 1,819 Forumite
    nearlynew wrote: »
    Not round my way.

    The Following User Says Thank You to nearlynew For This Useful Post: Show me >>
    rewired (Today)

    LOL - you're such a wind-up merchant ;)
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