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

Graham_Devon

Cheaper house prices

IveSeenTheLight wrote: »

Graham, didn't you respond yet you are already a part homeowner?
Why did you, your not a FTBer :rolleyes:

There's nothing wrong with an open poll with all the available answers.
A loaded poll is totally pointless in my opinion

What difference does it make if your a FTBer, Investor, Upgrader, downgrader, shared ownership pwner etc etc etc?
If you are considering and in a position to buy then that is relevant.

I remember a poll on here a while ago asking what people thought would happen to house prices.
It was heavily weighted on prices falls and did not cater for all the potential answers. totally pointless.

There are a number of people on this thread that have pointed out the flaws in the poll options.
I would hope that people can understand why there are flaws in the poll to make them better understand the impacts

So what other options should there be!?

Apart from a "yeh but no but yer but" option. That one was missed.

carolt

Cheaper house prices

Why thank you Doctor Gloom - the results certainly seem pretty conclusive, even taking into account some sockies and non-FTBs voting in all 3 parts.

carolt

Cheaper house prices

Graham_Devon wrote: »

So what other options should there be!?

Apart from a "yeh but no but yer but" option. That one was missed.

Just to say your baby is very cute, Graham.

Made me smile.

Graham_Devon

Cheaper house prices

carolt wrote: »

Just to say your baby is very cute, Graham.

Made me smile.

Thanks

Like father like son, or something, maybe

julieq

What a peculiar thread.

What's better? A 10% fall in prices or a 50% drop in mortgage rates?

And ask a first time buyer this. Would you like a fall in prices to continue after you've bought a house?

TEXTBOOK rabble rousing though. WD Carol.

Graham_Devon

Cheaper house prices

julieq wrote: »

What a peculiar thread.

What's better? A 10% fall in prices or a 50% drop in mortgage rates?

And ask a first time buyer this. Would you like a fall in prices to continue after you've bought a house?

TEXTBOOK rabble rousing though. WD Carol.

I believe thats a loaded question.

IveSeenTheLight

A return to lax mortgage lending?

Doctor_Gloom wrote: »

Oh dear. There seems to be alot of sour grapes on here just because the most popular poll on MSE in ages (perhaps ever) has produced a result certain people don't like. That's democracy for you. Get over it. And Hamish MacRamper is most notable by his continued embarrassed absence.

P.S. Thanks once again to Carol for having the great idea of having such a poll.

LOL, enjoy the poll and it's loaded results.
You obviously need it to make you feel a little better

IveSeenTheLight

A return to lax mortgage lending?

Graham_Devon wrote: »

Thanks

Like father like son, or something, maybe

HeHe, do you still get your milk delivered?

Don't worry its a joke. For me it's the gardener

IveSeenTheLight

A return to lax mortgage lending?

Doctor_Gloom wrote: »

It's a great poll. You only have to look at how many people have contributed to see its continued popularity. It's up a massive 62 in favour now.

And it rather contrasts with Hamish's rubbish poll in which only 4 people voted. And 3 of those votes were made by himself.

LOL, heres a poll with over 22,000 surveys.

Interesting that 75% think price will be the same or higher in a years time
http://www.rightmove.co.uk/news/files/2010/08/Rightmove-CCS-Consumer-Price-Forecast-Q3-2010-July.pdf

LilacPixie

can we have a definition of 'lax mortgage lending' please. Do you mean return to subprime bankrupt 3 months ago now with 125% self cert mortgage for 8x income or do you mean a relaxation of the deposit requirments so you can get a decent rate with a 5 or 10% deposit. What about those who want to borrow a comfortable salary multiple like 2x joint, deposit requirments reduced for them?

3 bed semi around here 120k so 12k deposit 108k mortage 5.99% 2 year fix with clydsdale 25 year term would cost £186,293 according to their site. If prices fell say 20% but IR stayed same and so did my deposit house would be 96k mortgage amount 84k I would still only have an 87% LTV so would get the same 'deal' of 5.99% fixed 2 years 25 year term and would cost me £145117 over the term of the mortgage. Thats obviously a good saving but if lending requirments are so tight that I couldn't get an 87% LTV mortgage in the first place it means nothing.

IMO it needs to be a combanation. Prices need to correct in some areas banks need to be willing to lend higher ltv's especially to those seeking a small salary multiple. No one thing is going to make a difference.