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Debate House Prices
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FTBs, make your voice heard. Would YOU prefer lower prices/rates/laxer mortgage rules
Comments
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Cheaper house pricesWhy not hold a poll for anyone wanting to buy anything and ask them if they would prefer to buy it at a cheaper price?
It is liking anyone who wants to sell anything if they would like to sell it for more than they brought it for.
I am sure everyone on here would like to buy a house for £10 on a 25 years 0% mortgage.
When I was a FTB 9 years ago I paid what the seller accepted (market value) indeed was the same with my current house
What you want to pay is fairly irrelevant in an open market, unless what you want to pay is near market value.
But it's not an open market, is it Really?
The whole point is it is predicated on a number of interventions by govt - we've all debated recently:
1. reduction in SMI payments
2. reduced LHA
3. tightening of lending criteria by FSA
etc etc etc
If the govt is going to make policy based on what it thinks voters really want, I'd like to have a vague stab at ensuring that the opinions of FTBs are actually presented by FTBs - not the reverse of most FTBs' views presented as gospel by those with vested interests in screwing FTBs royally eg the CML.0 -
Cheaper house prices
don't worry, i've just posted it on HPC.co.uk - we can get more nutters involved in your 'simple' pollOooh, 29 for lower house prices - no chucky, you're definitey NOT a FTB either!!! - versus 1 possible against - the mystery roy some numbers - who I will give the benefit of the doubt to and assume is a genuine person.
Result? That conrad and Hamish can now stop posting silly threads claiming all FTBs want is lower interest rates and looser lending criteria, when what we all want is CHEAPER HOUSE PRICES.
Could Tory Central Office also please take note.
nickmason - if you ever pop in, just pass the message on, that would be ever so helpful. Win the FTB vote over.
0 -
But it's not an open market, is it Really?
The whole point is it is predicated on a number of interventions by govt - we've all debated recently:
1. reduction in SMI payments
2. reduced LHA
3. tightening of lending criteria by FSA
etc etc etc
If the govt is going to make policy based on what it thinks voters really want, I'd like to have a vague stab at ensuring that the opinions of FTBs are actually presented by FTBs - not the reverse of most FTBs' views presented as gospel by those with vested interests in screwing FTBs royally eg the CML.
Do you think many of the cabinet read and are influenced by this board?0 -
Cheaper house pricesCan you define Lax Mortgage lending?
I would have though everybody except savers would welcome lower interest rates
For the purposes of my poll, looser lending criteria includes higher LTV mortgages available, higher salary multiples available,and most of all, more self-certs ie lie-to-buy available.
Lower interest rates don't come under that category - that's why they have a separate heading.
As a FTB, given the choice of buying a house costing 100K at 10% interest or 200K at 5% interest, the interst payment might be the same, but i'd rather have the cheaper house price - don't forget one has to pay the capital off. Plus the amount borrowed is fixed; the interest (in the UK at least) rarely is, so even if it seems affordable now, at 5%, in 10 years time, interest rates might have gone up, and it would no longer be so.
Which is why I disagree with your statement that "except savers would welcome lower interest rates" - as higher upfront interest rates inevitably reduce upfront prices.0 -
Result? That conrad and Hamish can now stop posting silly threads claiming all FTBs want is lower interest rates and looser lending criteria, when what we all want is CHEAPER HOUSE PRICES.
Well you negotiate price before credit on any negotiation, so it is hardly surprising that people would chose that first. It is simple psychology you don't think of credit until you have negotiated the price.
Ask any FTB who had an offer accepted if they would like an extra £5K off the house or save £15K in payments over 5 years and I dare say your result would be different.
The mentality would have changed to then thinking of credit and cost to service, not purchase price.0 -
For the purposes of my poll, looser lending criteria includes higher LTV mortgages available, higher salary multiples available,and most of all, more self-certs ie lie-to-buy available.
Lower interest rates don't come under that category - that's why they have a separate heading.
As a FTB, given the choice of buying a house costing 100K at 10% interest or 200K at 5% interest, the interst payment might be the same, but i'd rather have the cheaper house price - don't forget one has to pay the capital off. Plus the amount borrowed is fixed; the interest (in the UK at least) rarely is, so even if it seems affordable now, at 5%, in 10 years time, interest rates might have gone up, and it would no longer be so.
Which is why I disagree with your statement that "except savers would welcome lower interest rates" - as higher upfront interest rates inevitably reduce upfront prices.
Higher than what0
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