FSA advisers urge delay to mortgage reform and more 'flexible' lending

chewmylegoff

Graham_Devon wrote: »

Crikey, is this still being argued?

This is an interesting comment coming from someone who has had the same argument with hamish every day for the last 436 years.

Really2

Graham_Devon wrote: »

I won't be "cheering".

it will cost me on my mortgage. It's not self interest.

Why constantly say rates should go up as clearly in the current economic climate it will cost many people there jobs?

Sorry Graham, you have a self interest in rates rising as you think it will cause more defaults, and you have said you wan't prices to fall so your next purchase will be cheaper.

If it is not self interest you must be a Masochist, as the most the things you want to happen are to the detriment of many.

Really2

shortchanged wrote: »

To be honest Really2, if you are referring to me I actually benefit more from low interest rates as I have now gone onto a low rate tracker. I do not have any great deal of savings, certainly not enough that a rise in interest rates would make much difference to.

As Dervprof stated the interest rate issue is more about the good of the UK economy as a whole because low interest rates indicate a weak economy plus people get used to having such a low rate and start seeing it as the norm.

I am not saying there needs to be a rise in interest rates just yet because the economy is so fragile, we may well even go back into recession. But there certainly seems to be many people who are wishing for low interest rates to remain otherwise their mortgages would start to become a problem and my evidence for this is that there is a huge proportion of the UK mortgages that are currently on variable rate deals.

I am just stating that most on here base opinion on self interest.
Rates are where because of the economic conditions, so if rates go up things may be looking brighter.
I think many who states may stay low for a long time believe we are in for a tough ride.

Graham_Devon

Really2 wrote: »

Why constantly say rates should go up as clearly in the current economic climate it will cost many people there jobs?

Sorry Graham, you have a self interest in rates rising as you think it will cause more defaults, and you have said you wan't prices to fall so your next purchase will be cheaper.

If it is not self interest you must be a Masochist, as the most the things you want to happen are to the detriment of many.

Thanks for letting me know what I want.

You missed out what I actually want and have said several times however.

What you have done, is explained your understanding of what I want. But, again, got it wrong. Again, gone straight for the "you want people chucked onto the streets" line which is so easy.

Theres a post by me on another thread, talking about the next generation. My son. How I want todays generation to build a sustainable market today for tommorows generation.

If that means that people who cannot afford to buy their homes they are living in because they took too much debt, find that they have to downsize to what they can actually afford, so be it.

All propping up, and trying to increase prices is at the cost of the next generation. Not only in paying the debts back but also in increased asset prices.

I believe personally we need to get back to a sense of realism and stop pretending the inevitable won't actually happen. It will. And we are just making it more painful to deal with it by extending the denial.

Really2

Graham_Devon wrote: »

I won't be "cheering".

it will cost me on my mortgage. It's not self interest.

But while you are replying any chance of answering one of my questions one of the days as you only seem it fair to pick the points you should answer and not the actual debate in hand.

Really2 wrote: »

Odd you said 30/40 year mortgages would cause HPI.

75% of potential buyers see lending restrictions as the main restriction for not being able to buy.

If it was all about the price 30/40 year mortgages, any amount of tinkering 150% mortgages should not increase sales as in yours and many others view they are too expensive.

They don't get less expensive by changing the measures you believe would cause HPI, why? Because you know the demand will outstrip supply should anything change.

So it is the market factors dictating the price not the price dictating market factors.

Back to ebay tickets again,
Ticket sold retail £30, gig gets sold out, tickets sell for £500 in an auction.
What dictates the price of resold tickets?

Is it the supply, demand, and persons available cash willing to pay?

Or is it the price?

I would love an explanation how that is the price setting the market factors and not the market factors setting the resale price.

A £500 ticket may be overpriced for someone not willing to spend that much. But I can't see how lowering the price changes the market factors in the same situation? They will still be bid up and purchased by those willing to pay the most.

Really2

Graham_Devon wrote: »

Thanks for letting me know what I want.

You missed out what I actually want and have said several times however.

What you have done, is explained your understanding of what I want. But, again, got it wrong. Again, gone straight for the "you want people chucked onto the streets" line which is so easy.

Theres a post by me on another thread, talking about the next generation. My son. How I want todays generation to build a sustainable market today for tommorows generation.

If that means that people who cannot afford to buy their homes they are living in because they took too much debt, find that they have to downsize to what they can actually afford, so be it.

You have wanted rates to go up for ages? how is any of that about building a sustainable market.
You seem to take little interest of the economic pain it will cause to many.

So if out is not self interest why do you think some should suffer to get what you want?
You may not realise it, but that is self interest!!

PS if they take on to much debt go in NE and lose their house how do they downsize.

100% Self interest Graham, if that does not happen you will need a plan B for your son and his generation.

Graham_Devon

Well again, thanks for telling me what I want.

I don't suppose it's worth explaining what I want or wish for really is it. You'll tell me I'm wrong, and tell me what I'm actually thinking.

Your explanations are getting a bit wild. I don't think "everyone" will have to suffer to get what "I" want.

The only people who will suffer, generally, are those who are over exposed, and those who unfortunately lose their jobs.

Really2

Graham_Devon wrote: »

Well again, thanks for telling me what I want.

I don't suppose it's worth explaining what I want or wish for really is it. You'll tell me I'm wrong, and tell me what I'm actually thinking.

No because in the past I remember you responding that you wanted prices to fall so your next house purchase will be cheaper.
Considering you don't accept any of the arguments are where they are and why they are, I can't believe you have got the balls to argue that your view is not based in part on self interest.

Graham_Devon

Really2 wrote: »

No because in the past I remember you responding that you wanted prices to fall so your next house purchase will be cheaper.
Considering you don't accept any of the arguments are where they are and why they are, I can't believe you have got the balls to argue that your view is not based in part on self interest.

I've always argued that people want to buy items cheaper.

That doesn't change for myself and my next house.

You are now calling me self interested. But you appear to miss the fact that my self interest costs me in MY pocket, through MY mortgage payments.

That's hardly self interest is it. I'm ultimately paying for it.

Bit different to taking a gamble and praying interest rates don't rise. Bit different to the glee at overpayments as base rates arew so low and hoping they don't rise.

Stop ignoring parts of the discussion and telling me what I want and when I explain exactly what I am thinking....telling me I'm wrong and what I'm actually thinking. It's a bit desperate.

Really2

Graham_Devon wrote: »

.

Your explanations are getting a bit wild. I don't think "everyone" will have to suffer to get what "I" want.

The only people who will suffer, generally, are those who are over exposed, and those who unfortunately lose their jobs.

Did I say everyone?????? er,r no I didn't ?

So you have an idea what you want to happen, who will suffer to make that happen?
That's not self interest, no!!