Halifax HPI +0.5% MoM, +0.8% QoQ, -0.1% YoY

The_J

DpchMd wrote: »

Bless, do you think there's some kind of contradiction in the 2 posts you quoted? That must have been very exciting for you.

The fact you can't see it is enough for me.

There's nothing contradictory in saying that many people could afford mortgage repayments if mortgage rationing was relaxed, while maintaining that there will always be a rich/poor divide in home ownership.

How can you not see it?

There's not a single successful financial advisor in the country that would make that statement. That's a fact.

Financial advisors don't generally advise on credit cards. Surprised that you think they do.

To answer your question, the banks make a profit on credit cards because many people use them unwisely. As a successful financial advisor, I'm surprised that you fail to grasp the many advantages to using credit cards wisely. I really shouldn't need to state the "bleeding obvious" to a financial advisor.

So when giving generalised advice I should advise for the minority and not the majority? I did go on to clarify that sometimes you can't avoid using credit cards and sometimes getting a debt is the better long term solution. I think I also conceded that if you were the type of person who made risky transactions then the s75CCA was useful.

chewmylegoff

Graham_Devon wrote: »

I missed that.

There are so many different variations of disposable income and discretionary spending it's sometimes hard to keep up, and I've been caught out with it before!

Children are problematic though. This week it's been a new car seat and new shoes for my son as he grows. Bang, £140 gone.

Sometimes you think "well how can people possibly cope"....until you factor in benefits which aren't included in the income etc!

Benefits are included in the total household income according to the report.

Children may be problematic - but do most people have children before they have saved their house deposit. Not the way around I would do it personally. Obviously sometimes the unplanned happens, but if you intentionally plan to have children before buying a house then you are making a lifestyle choice. I wouldn't have much sympathy for anyone who said they couldn't afford to save for a house deposit because of the cost of the children they'd decided to have.

Graham_Devon

chewmylegoff wrote: »

Benefits are included in the total household income according to the report.

Children may be problematic - but do most people have children before they have saved their house deposit. Not the way around I would do it personally. Obviously sometimes the unplanned happens, but if you intentionally plan to have children before buying a house then you are making a lifestyle choice. I wouldn't have much sympathy for anyone who said they couldn't afford to save for a house deposit because of the cost of the children they'd decided to have.

Nowadays, yes.

Whether thats right or wrong is debatable. However, theres little choice for most.

DpchMd

The_J wrote: »

The fact you can't see it is enough for me.



How can you not see it?



Financial advisors don't generally advise on credit cards. Surprised that you think they do.



So when giving generalised advice I should advise for the minority and not the majority? I did go on to clarify that sometimes you can't avoid using credit cards and sometimes getting a debt is the better long term solution. I think I also conceded that if you were the type of person who made risky transactions then the s75CCA was useful.

Clearly you're having difficulty reading.

1. You don't seem to understand the word many

2. I never said that financial advisors generally advise on credit cards. I merely pointed out that the fact that you've never owned a credit card is funny, especially for a financial advisor. The fact that you would "advise" everyone (as per your own words) to never use a credit card shows a gross misunderstanding of the potential benefits.

We can keep on arguing about this, but the fact is you made an incredibly stupid comment that could never be attributed to a successful financial advisor. Either concede that you made an error or admit that you're a fraud.

chewmylegoff

Graham_Devon wrote: »

Nowadays, yes.

Whether thats right or wrong is debatable. However, theres little choice for most.

Really? Why is there "little choice". Surely it's pretty easy. There's nothing to compel you to have children before buying a house.

The_J

I stand by it. As a general rule of thumb, don't get a credit card. As I said before, the Chairman of a major bank was quoted as saying he wouldn't let his daughters have them, I guess he isn't particularly successful...oh no wait.

Unfortunately not everyone is as lucky as him and me, I get to see that on a day by day basis. If you are really good with money then go for it, the tiny benefit you get probably help you sleep at night. But if you are really good with money you could be getting 40% returns on a high risk Asian fund at the moment, should my general advice for people looking to save be "go for this great fund".

No. Credit cards are to be avoided unless you are a !!!!! who likes getting a tiny amount of cashback on stuff even though that probably encourages you to buy crap you don't need. If you buy stuff in cash, face to face, supporting your local businesses rather than some tax avoiding online website why would you need card protection?

Pimperne1

The HPCers don't like this news. The only upside for them today seems to be the discovery of a report hidden by the Government that shows that living near a power line doubles the risk of childhood cancer. They conclude (after adding a raft of other potential house related bad news stories):

"All of these will do the same to a house price as a profit warning will do to equities."

Nice.

mystic_trev

The_J wrote: »

I stand by it. As a general rule of thumb, don't get a credit card.

Sorry I've got to disagree with you. Using credit cards, have earned me enough Airmiles for a free return flight to Antigua a couple of years ago. I currently have enough Avios for a return Business Class flight to Singapore. My other credit card earns me cash back.

So by using a credit card I've had free flights and cash back! :j

chucky

Graham_Devon wrote: »

Expecting people to just cut back in order to save theses sorts of sums is beyond disillusioned.

maybe they could cut back on their Sky subscription, the iphone, the monthly mobile bill, the lovefilm subscription or all the other little luxuries they indulge themselves with.

Buying a house isn't about spending money on other things its' about paying your mortgage as quickly as possible!!

chucky

DpchMd wrote: »

More stagnation, just the way I like it.

This has to be one of the best periods in history to be a home owner.

I'm worried for the likes of Brit et al who have gone missing over an index that measures mortgage approval going up only 0.5%.

Don't worry guys it will probably be down next month and you can update your footer in your posts then.