wages, house prices, etc

Going4TheDream

Jimmy_31 wrote: »

Mortgages are available to people who have the required deposit and meet the lenders criteria.

If house prices double then the deposit should double.

And that happened, however lenders are asking at least 4 times as much by asking for at least 10% deposits now and often 20%

The difference between a 5% deposit on a 100k house and say a 20% deposit on a 200k house is £35k....... that is a step to far for some who could afford the repayments but cannot raise the deposits

Jimmy_31

Going4TheDream wrote: »

And that happened, however lenders are asking at least 4 times as much by asking for at least 10% deposits now and often 20%

The difference between a 5% deposit on a 100k house and say a 20% deposit on a 200k house is £35k....... that is a step to far for some who could afford the repayments but cannot raise the deposits

Probably covering their ar5e for the future house price falls and job losses that are becoming quite common.

Going4TheDream

Jimmy_31 wrote: »

Probably covering their ar5e for the future house price falls and job losses that are becoming quite common.

Personally I agree 100%

however reading some of the views on here, it is known as affectionately known as 'mortgage rationing' under the guise that banks don't have as much to lend and therefore are setting the goal posts higher and being very picky......

Either way it adds up to the same thing??

DervProf

Percy1983 wrote: »

So you propose that we let the free for all on mortgages continue the first 500000 of them who get the bank and say me get a house and the rest are priced out?

Out of those 2 million how many could have bought during the lax lending but didn't.

Now here is a very interesting question for you, you say they can't afford to buy, but if landlords weren't as greedy (or rent caps where forced) then many of them would be able to buy much sooner.

The overall sum is the current mortgage [STRIKE]rationing[/STRIKE] sensible lending is actually a good thing, it lets the financially savvy people first rather than the first to the bank and say give me money.

Well said, and I note there has been no response from McTavish. I get the feeling that he wants "mortgage rationing" to end, and rampant HPI to return. A bit like Labour's attitude to the public debt, carry on spending and everything will be OK.

Jimmy_31

DervProf wrote: »

Well said, and I note there has been no response from McTavish. I get the feeling that he wants "mortgage rationing" to end, and rampant HPI to return. A bit like Labour's attitude to the public debt, carry on spending and everything will be OK.

I dont think he wants mortgage rationing to end.

I think he NEEDS mortgage rationing to end:)

Jimmy_31

Going4TheDream wrote: »

Personally I agree 100%

however reading some of the views on here, it is known as affectionately known as 'mortgage rationing' under the guise that banks don't have as much to lend and therefore are setting the goal posts higher and being very picky......

Either way it adds up to the same thing??

Yep, adds up to lower prices:)

Carl31

DaisyWheel wrote: »

My pay in 2011 is well over double what it was in 2001

Are you still doing the same job you were doing in 2001?