Mortgage payments "more affordable"

wotsthat

Graham_Devon wrote: »

So nothing to do with lenders lending lower amounts (LTV) to peope with higher incomes then?

Who'd have thought! It's actually to do with lower house prices, that you will both deny is happening country wide rigourously, and to do with rates being low for buyers, which you will both deny rigourously and tell us the horrors of mortgage rationing and mortgage companies profiteering!

It's a bizzare old world out there.

Of course it's something to do with lending lower amounts to richer people.

I said that house prices were down 3% in 2011 as well - no denial there. I paid off much more than 3% from my outstanding balance last year with a lower payment than what the rent would cost. I would have thought that's fairly typical.

So let's get this right. Prices are lower and yet you need to be richer to buy a house. How does that work? It works like this; you need to be richer to get into a decent deposit and to be better able to compete for limited mortgage funds. If you're not in such a good position you ain't buying no matter how cheap houses get so you need to rent from a rich person and pay their mortgage instead.

It's a scandal - prices get cheaper only for the benefit of the rich.

Brilliant - go bears.

Graham_Devon

wotsthat wrote: »

Brilliant - go bears.

I thought you were a bear? You were the other day when you didn't like being called a bull?

wotsthat

Graham_Devon wrote: »

I thought you were a bear? You were the other day when you didn't like being called a bull?

I'm a non-bull - something to do with 2007 and a big bull reset button. Keep up.

RUN_RABBIT_RUN

AD9898 wrote: »

Yes, treble the price of something then slash the cost of borrowing to a tenth of what it was and hey presto....the monthly payments are cheaper....Not rocket science, only the mathematically dumb would fall for that crap.

by 'treble the price of something' i assume you are referring to the housing boom of the early 2000s?

by slashing the cost of borrowing to a tenth of what it was, you're referring to the last couple of decades?

by mathematically dumb, you're referring to 'i just bought a house' geneer?

geneer wrote: »

Exactly.

Hamish won't respond to this one of course.

oops. :rotfl:

in all seriousness though, what you say is correct but we are where we are. hopefully over the next couple of decades prices and mortgages will even out and give more people the opportunity to buy