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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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But it's not an open market, is it Really?
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.
houses are selling for what buyers and sellers negotiate, it's fairly close to an open market.
Good look with the bold bit, but I rather hope they have better things to do than read this site.0 -
Cheaper house prices
they can't see past the ticket price...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.
probably why they're so desperate to prove a point...0 -
A return to lax mortgage lending?You do. You care what Hamish thinks. He also cares what you think. That's why you both spend time responding to each other's postings on a discussion forum, often in vey similar ways.
To be fair, there are distinct differentces.
Hamish doesn't post loaded polls or deliberately incorrect and misleading threads.
He does post a lot of positive house price news, which I'm sure anyone taking a long term view will find he iwll be right, unless there is a drastice change in policy such as mass building affordable homes.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I was a FTB in 1990, needed 10% deposit and the IR was around 8%. (It then went up to 12%)
Is it really much worse now?
Yes. I was a FTB in 1979, needed a 10% deposit for IR of 12% (which went up to 15%) but had I had a larger deposit the rates would have been the same.
I moved in 1990 and thanks to HPI had 50% LTV and my rates were the same as yours.
I have 2 kids in their late 20's who want to FTB now. Neither wants to pay around 5% interest for a 90% mortgage when they know a 40% deposit would get them an IR of half that.Murphy was an optimist!!!0 -
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