FTBs, make your voice heard. Would YOU prefer lower prices/rates/laxer mortgage rules

chucky

Cheaper house prices

carolt wrote: »

The poll has stated overwhelmingly that FTBs today would prefer house prices to fall as a means of making it easier for them to buy, over being able to borrow huge amounts at low rates.

i'd love property prices to fall, that's why i voted for prices to fall.

i've planned to buy another property maybe two more for the last 2 years but nothing has come into my price range.

i don't have an issue with property prices falling...

Really2

Would FTB's prefer 5% deposits or 20%? might be worth a new poll if anyone could be bothered.

DervProf

MoneyMiser wrote: »

As a FTB myself and house prices fairly cheap in my area, what I want is a little bit of lax lending!

No, not a return to 100% - 125% mortgages but definately 95% mortgages. The rates are always going to be higher than most on these but with a bit of planning, it should be affordable. Not only that but lending criteria has gotten even stricter, so FTB's have little to no chance at the moment, unless they have a massive deposit.

So a bit a lax lending now, could see a massive influx of FTB's to the market, thus helping the economy get back on track.

MM

OK, I`m just going to "think out loud" for a moment.

FTB`er wants 95% LTV, rather than 10%.

Purchase price.... £100K.

5% deposit = £5K.

10% deposit = 10K.

£5K extra to save.

95% mortgage @ 5.5% = approx £600 p/m.

90% mortgage @ 5.5% = approx £570 p/m.

The extra 5K deposit would take 5000/600 months to save. That`s about 8 months.

My advice, wait 8 months. You`ll probably get a better mortgage rate for the lower LTV and you`ll borrow less, so your repayments will be at least £30 per month lower.

And who knows, property prices may have fallen a little by then. I know that`s a bit far feteched, but you could be lucky.

IveSeenTheLight

A return to lax mortgage lending?

carolt wrote: »

I suspect you became a landlord not for financial reasons at all, but because you have a desperate desire to meddle in other people's lives and tell them what to think/do.
.

Then you would suspect wrongly.

I didn't need to invest in property but chose to in order to provide a future for myself and my family.

I'm very efficient in my letting business and have always had extremely happy tenants.

Everything is provided for them (more than normally provided for in furnished properties).

I have a comprehensive pack in the properties that gives them all the information they need.

I include a welcome card with a bottle of red / white when they first move in and send them a christmas card

Other than that, I do not contact my tenants at all and leave them unless they need to contact me for any reason.

carolt wrote: »

You are not a FTB, so - contrary to what you imagine - you are no in position to state what we would like.

The poll has stated overwhelmingly that FTBs today would prefer house prices to fall as a means of making it easier for them to buy, over being able to borrow huge amounts at low rates.

I am looking to invest in property, without selling other properties, therefore I share the same factors as your poll as to what influences my decision.

carolt wrote: »

Obviously, YOU, as a landlord, would much prefer that all FTBs mortgage themselves up to the hilt to buy at current ludicrously high prices, because that would keep the value of your investments up.

FTBers can do what they want to meet their own needs.
Your comment doesn't make sense, when I have itterated that I am looking to buy further properties.

I've said many times before, but unfortunately you have not been able to read and digest that I don't need capital appreciation. It's a bonus. My business works on the rental yield provided

carolt wrote: »

But then your opinion doesn't need to be represented - because bodies like the CML represent you anyway. My whole point was that the views of FTBs are not represented - so it is ironic (though hardly unexpected) that you would do your level best to prevent us expressing our preferences here.

The CML does also repesent FTBers.
They regularly show the figures that contribute to them being FTBers.
Are you insinuating your poll is wrong and that its not FTBers that should respond, but FTB wannabe's?

As for my opinion not being relevant, tough luck woman.
It's a forum and I'm free to express my views (usually backed up with facts unlike yourself) which others can freely read, review, agree, disagree, comment on and make their own mind up.

Your attempt to try and hear only things from a certain viewpoint will not work here.
Maybe you should try another website that is mentioned a lot on here to see if your happier there

FTBFun

A return to lax mortgage lending?

The poll has stated overwhelmingly that FTBs today would prefer house prices to fall as a means of making it easier for them to buy, over being able to borrow huge amounts at low rates.

A sample size of less than 100 hardly makes this conclusive.

BTW I was an FTB but am no longer, as I actually got off my backside and bought somewhere rather than whinging about it on an internet forum.

carolt

Cheaper house prices

chucky wrote: »

i'd love property prices to fall, that's why i voted for prices to fall.

i've planned to buy another property maybe two more for the last 2 years but nothing has come into my price range.

i don't have an issue with property prices falling...

You're still not a FTB - go start your own poll for landlords.

I promise I won't vote. :rotfl:

IveSeenTheLight

A return to lax mortgage lending?

DervProf wrote: »

The extra 5K deposit would take 5000/600 months to save. That`s about 8 months.

My advice, wait 8 months. You`ll probably get a better mortgage rate for the lower LTV and you`ll borrow less, so your repayments will be at least £30 per month lower.

I can't see from your figures where they will save the extra £5k in 8 months.

that's an additional £625 per month saving

carolt

Cheaper house prices

IveSeenTheLight wrote: »

The CML does also repesent FTBers.
They regularly show the figures that contribute to them being FTBers.
Are you insinuating your poll is wrong and that its not FTBers that should respond, but FTB wannabe's?

As for my opinion not being relevant, tough luck woman.
It's a forum and I'm free to express my views (usually backed up with facts unlike yourself) which others can freely read, review, agree, disagree, comment on and make their own mind up.

Your attempt to try and hear only things from a certain viewpoint will not work here.
Maybe you should try another website that is mentioned a lot on here to see if your happier there

I'm perfectly happy here, thanks.

FTBs by definition means what you refer to as FTB wannabees - once they have bought, they are no longer FTBs. One wouldn't expect people who've just spend hundreds of thousands of pounds on a home to want the price to fall instantly, would one? Would be a pretty pointless poll.

I use FTB in the normal sense, eg as used on mortgage applications etc - people who don't own a property but are looking to buy their first one.

You try getting a FTB mortgage saying 'look, I bought 6 months ago, but I'm still a FTB." :rotfl:

DervProf

IveSeenTheLight wrote: »

I can't see from your figures where they will save the extra £5k in 8 months.

that's an additional £625 per month saving

I`m assuming that the potential FTB`er is currently living with parents (sorry, I should have made that clear). Before taking on the mortgage, the FTB`er will not be paying out £600 p/m, so will have that money to save.

I did, however, type "The extra 5K deposit would take 5000/600 months to save. That`s about 8 months."

IveSeenTheLight

A return to lax mortgage lending?

carolt wrote: »

You're still not a FTB - go start your own poll for landlords.

Your attempt to moderate this thread is just never going to happen.

Get down from you perch and accept it.

The poll is a joke for all the reasons mentioned before, but then again it's not surprising is it