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

DervProf

IveSeenTheLight wrote: »

So what's the realist outcome?

Seems to me: -

• less owners (only higher earners able to buy)
• more renters (because they can't own)
• more investors (to meet the rental demand which is increasing)

Unless of course there is a substantial increase in properties built to support the increasing demand, but is that realistic?

Yes, only the more wealthy will be able to buy property. But even the "wealthy" rely on credit to buy property. Also, they will only be able to get so much rent from the less wealthy.

If the government "grew a pair", they`d have a real go at easing the nation`s housing problems. Tougher restrictions on second property ownership. Tougher rules on lending. Why should it be a "free" market ? Why can`t the government step in and make it a fairer market ?

It`s very complicated, as we know. There are all sorts of implications for tighter lending, rules on multiple ownership etc. However, unless something is done, the distribution of property ownership will always be rather unfair.

I`m not talking drastic measures, but something better than "oh dear, property isn`t selling/going up in price - better lower interest rates and lower deposit requirements".

DervProf

Good debate, BTW :beer:

doire_2

Cheaper house prices

I think the FTB have spoken :T

chucknorris

Doctor_Gloom wrote: »

Indeed they have. It's 57 in favour now, a thumping majority.

I suspect the forthcoming poll 'do squirrels like nuts' might also have an overwhelming majority too

FTBFun

A return to lax mortgage lending?

Doctor_Gloom wrote: »

Indeed they have. It's 57 in favour now, a thumping majority.

Out of 67 people....well, logins.

brit1234

Cheaper house prices

Just voted as I am a potential first time buyer. Price is the key thing for me as I have a deposit. High prices are stopping entering the market even with my now 25% deposit.

I noticed a bunch of buy to let owners voting for the 3rd option. Hardly FTB are they. However they need lax lending to stop the housing bubble deflating and putting them under financial strain.

FTBFun

A return to lax mortgage lending?

brit1234 wrote: »

Just voted as I am a potential first time buyer. Price is the key thing for me as I have a deposit. High prices are stopping entering the market even with my now 25% deposit.

I noticed a bunch of buy to let owners voting for the 3rd option. Hardly FTB are they. However they need lax lending to stop the housing bubble deflating and putting them under financial strain.

That doesn't make any sense. How can you have a 25% deposit if you don't know what you have 25% of?

How much is your "25%" deposit?

IveSeenTheLight

A return to lax mortgage lending?

FTBFun wrote: »

That doesn't make any sense. How can you have a 25% deposit if you don't know what you have 25% of?

How much is your "25%" deposit?

He expected / predicted a 50% drop by Christmas.

Presumably, he's looking as a FTBer to be able to only get a 50%LTV on his first property.

Not exact;y a typical or realistic FTBer is he?

[example]
Let's presume he has 25% of £100k.
He exects property to drop to £50k, thus his 25% becomes a 50% deposit
[/example]

Heyman_2

FTBFun wrote: »

That doesn't make any sense. How can you have a 25% deposit if you don't know what you have 25% of?

How much is your "25%" deposit?

More fairy tales in Brit's Jackanory Fantasyland :rotfl:

FTBFun

A return to lax mortgage lending?

That's a really optimistic example, mind, as I doubt there's much going for £100k in Hounslow!