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Debate House Prices


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Is interest-only really a ticking time-bomb?

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Comments

  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    de1amo wrote: »
    do these figures take in BTL mortgages?-most landlords including myself just go İR.

    Me too. Three BTL mortgages at present and all IO. It is a very good scheme for BTL and ought to be encouraged. My home is IO too and if I didn't have other income sources to pay off the mortgage at end of term then I wouldn't deserve to own a house. The worst placed people are those who are retiring who have been renting for the majority of their lives and who haven't been saving like billyo.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    nearlynew wrote: »
    Well, let me summarise it for you Dev...

    Some bunch of lying thieves promise you can have loads of free lecky if you rent them your roof for 25 years. If you want to sell your house within 25 years, your buyer's lenders don't like the idea that someone is renting the roof so they won't lend the money to buy your house.

    Do you have a link for this? I'm amazed it's not national news, because it's a complete scandal if true.
  • nearlynew
    nearlynew Posts: 3,800 Forumite
    RenovationMan wrote: »
    Do you have a link for this? I'm amazed it's not national news, because it's a complete scandal if true.

    Here's one for a start

    http://www.guardian.co.uk/money/2012/mar/23/solar-panels-dim-mortgage-prospects


    By the way, things can happen and NOT make the national news
    And things CAN make the national news and be completely untrue.

    Being "on the news" is no guarantee of a story's authenticity.
    "The problem with quotes on the internet is that you never know whether they are genuine or not" -
    Albert Einstein
  • DervProf
    DervProf Posts: 4,035 Forumite
    nearlynew wrote: »
    Being "on the news" is no guarantee of a story's authenticity.

    Absolutely true.

    I know this from first hand experience.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    nearlynew wrote: »
    Here's one for a start

    http://www.guardian.co.uk/money/2012/mar/23/solar-panels-dim-mortgage-prospects

    Wow, thanks for the this. I'll post it on the Green and Moneysaving board as I'm pretty sure some of those guys signed up for these schemes.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    michaels wrote: »
    Isn't it a stocks and flows things - a direct consequence of activity levels below average is that outstanding mortgage debt will fall - especially as the average time to maturity will also be falling so the proportion of fixed monthly payments that are capital rather than interest will increase - simply an impact of the maths but may be it has economic consequences?

    In essence yes. With fewer transactions, i.e. people moving up the ladder and increasing their debt. Net lending is negative.

    What the CML members are saying is that they are seeing no sizable level of overpayments on mortgages.
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