Halifax Hpi September 2010 -3.6%

mbga9pgf

Too late now silvercar, you needed to sell a couple of months ago to enjoy your ill gotten gains!

Its a full on rout!

carolt

Good - we're all happy - you get to pay off mortgage cheaply, we get to buy in at cheaper prices and cheaper rates.

Win-win situation, clearly.

I always said falling prices were good news generally.

FTBFun

https://forums.moneysavingexpert.com/discussion/2753650

Whoever did this forecast should be waiting for their P45 I reckon!

Orpheo

Batchy wrote: »

This is true, however, Based on the fact Halifax don't actually provide mortgages anymore due to their uncompetitive product, I wouldnt get overly excited. This is probably based on 100 house purchases for really desperate buyers with rates at 5-6% + its not surprising they are showing annomilies.

Is anyone stupid enough to use HALIFAX for a mortgage, all im aware they have been doing in the market recently is REPOSSESSING.

The bonus is, while house prices fall, interest rates remain low for even longer. Meaning low mortgage payments and the ability to overpay the mortgage, so while I was thinking 25 years not so bad, now im thinking 10-15 years and its all paid up.

Lloyds Banking Group have a 23% share of the UK mortgage market. I'd call that a representative amount.

doire_2

Heyman wrote: »

Ahh you've edited your post. Fair enough.

Just the "dry your eyes" part

blueboy43

Batchy wrote: »

Is anyone stupid enough to use HALIFAX for a mortgage, all im aware they have been doing in the market recently is REPOSSESSING.

If all they are doing is REPOSSESSING, then will that help prices go up or go down ?

Just wondering.

AD9898_2

Props to Really2 for chiming in on this thread. It just shows how screwed the market is, didn't Halifax post a positive last month ? How can you post a positive then a negative of this magnitude the very next month ?

One thing I was right on is that low IRs, SLS, along with low transactions and banks not repossessing are barely keeping the prices at current levels.

Without these policies prices would almost certainly fall back to year 2001 levels.

Really2

AD9898 wrote: »

Props to Really2 for chiming in on this thread.

I have nothing to fear (well not as I am aware of at the moment )

Heyman_2

doire wrote: »

Just the "dry your eyes" part

LOL - I don't invest that much emotion in these things, unlike some.

Batchy

Just thought id add my two penny, for what its worth.

When house prices fell last time, they wanted mins of 25% deposit or ridiculous rates of 7% when the base was 0.5%.
If prices are falling now, I would have thought that they would want 40% deposits in the short term, to get 4% rates at the lowest. As things get hairy, the banks will get itchy feet.

I agree with the principal of what would you rather have a lower capital price rather than low interest rate arguement, but who really thinks rates are going to rise. The government is doing everything in its power to keep rates low. Which will mean stability over volatility in the medium term.

Volatility will be in mortgage availability.

If you get involved in the market you will understand, people get houses SSTC eventually, however, somewhere down the line, the mortgage gets pulled on the buyer and the buyer has to pull out, or the mortgage gets pulled on the vendor who needs more mortgage on a bigger house from the one they are selling. Simple as that. So there is no pricing problem, its simply lending constraints, and the availability of finance, and deep dark historys in peoples credit ratings that are coming to bite them on the !!!.

You guys should stop getting too excited and work out how you are going to get your deposit up to 40% in the short term to actually take advantage of the current market.