Repo's up and some startling numbers

geneer

IveSeenTheLight wrote: »

Good post on facts and stats to discuss

yes. lets stick to facts and stats.
though this absolutely is not a diversionary tactic.:rotfl:
poor old lite doesnt do so well with meatier concerns like context and analysis.

geneer

IveSeenTheLight wrote: »

What point?



I don't argue with geneer, he's the one and only on my ignore list.

Indeed, you have a lot of similarities with geneer in that you ignore facts when presented to you.

Is this another diversionary tactic?

not the same as saying youve never argued with geneer eh. gosh its not like lite to latch onto some minor inconsequential point of pedantry whilst letting the more relevant and inconvenient points slide away
.:rotfl:

Really2

Graham_Devon wrote: »

It's all denial. If you lot REALLY wish to believe houses prices for FTB's are, on average only 3.13x wages currently, or income even. Then feel free.

No one has said that only you, that is the average size of the loan compared to income for a FTB.

You can't seem to grasp that

a) It is the multiple of income lent.
b) That first time buyers buy on average cheaper than the average house
c) that everyone purchasing is not on the average UK wage it is based on household income
d) average wage vs average house price is fairly irrelevent when looking at FTB purchase prices and incomes.

So for the last time graham, state why the information is wrong in your belief.

shortchanged_2

RenovationMan wrote: »

I was given a 5x single earning muliple and it doesn't seem to have done me any harm.

Incidently, I am now at a 4.13 single earning muliple and I'm no more secure with my finances.

Would you say you are more at risk from interest rate rises though than someone with the same circumstances as you who took a 3.5 times income mortgage?

And come on RenovationMan you make no secrets about it, you are seriously benefitting from the ultra low base rates. I doubt very much if we would see your gleeful posts on here if the base rate was around 4-5%.

chucky

Really2 wrote: »

No one has said that only you, that is the average size of the loan compared to income for a FTB.

You can't seem to grasp that

a) It is the multiple of income lent.
b) That first time buyers buy on average cheaper than the average house
c) that everyone purchasing is not on the average UK wage it is based on household income
d) average wage vs average house price is fairly irrelevent when looking at FTB purchase prices and incomes.

So for the last time graham, state why the information is wrong in your belief.

i've posted this data for both 2007 and 2010 - it was ignored.

i could post it for any year and he wouldn't believe it just because of his own insecurities.

here's the link anyway that proves the average income of an FTB, the average mortgage advance of an FTB and the average property price.
http://www.communities.gov.uk/documents/housing/xls/141380.xls

i await the usual muddling...

Really2

chucky wrote: »

i've posted this data for both 2007 and 2010 - it was ignored.

i could post it for any year and he wouldn't believe it just because of his own insecurities.

here's the link anyway that proves the average income of an FTB, the average mortgage advance of an FTB and the average property price.
http://www.communities.gov.uk/documents/housing/xls/141380.xls

i await the usual muddling...

And those figures do seem to indicate that a FTB's are requiring larger deposits and dare I say being a safer bet (higher wage) to get a mortgage. As the FTB average wage is now higher and they are buying more expensive property's with larger deposits than @ peak.

To me that shows mortgages are more restricted than peak, but maybe that's just me.

neverdespairgirl

geneer wrote: »

yes. lets stick to facts and stats.
though this absolutely is not a diversionary tactic.:rotfl:
poor old lite doesnt do so well with meatier concerns like context and analysis.

that's unfair, ISTL posts regularly and sensibly.

chucky

Really2 wrote: »

And those figures do seem to indicate that a FTB's are requiring larger deposits and dare I say being a safer bet (higher wage) to get a mortgage. As the FTB average wage is now higher and they are buying more expensive property's with larger deposits than @ peak.

To me that shows mortgages are more restricted than peak, but maybe that's just me.

exactly, but they're just the real facts and are obviously not correct because it's all a conspiracy theory.

what devon doesn't seem to understand is that because income required is having to increase the average mortgage advance is not moving to much - the salary multiplier will drop while the average FTB house price increases pushing the deposit amount higher for only those that can buy.

unfortunately maths or statistics have gone over his head and emotion has taken over with him...

RenovationMan

shortchanged wrote: »

Would you say you are more at risk from interest rate rises though than someone with the same circumstances as you who took a 3.5 times income mortgage?

Your original post said that we need to move to 4x single earning ratio and now you are talking about 3.5 times, if you are changing the parameters of the discussion to suit your argument, then why not go with 1x salary muliple?

shortchanged wrote: »

And come on RenovationMan you make no secrets about it, you are seriously benefitting from the ultra low base rates. I doubt very much if we would see your gleeful posts on here if the base rate was around 4-5%.

As you quite rightly say, I am seriously benefitting from ultra low interest rates. I believe that you said that you are also benefitting from low rates. How does this relate to your "4x salary muliple" post that I commented on?

shortchanged_2

RenovationMan wrote: »

Your original post said that we need to move to 4x single earning ratio and now you are talking about 3.5 times, if you are changing the parameters of the discussion to suit your argument, then why not go with 1x salary muliple?

It was a comment about your statement saying that you are no better off now because your mortgage is NOW 4. whatever times your income compared to when you took out the mortgage it was 5 times your income.

Now would that be anything to to with 1) Interest rates have not changed since you took out the mortgage, therefore your mortgage payments are going to be exactly the same or lower (as you've overpayed) and 2) The general cost of living has increased therefore savings you've made by paying down your mortgage are being gobbled up by the extra daily costs of living.