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Debate House Prices
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Express: eh?
Comments
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that equates to £59,000 added to the value of the average home, bringing
welcome relief to millions of families already struggling with the cost of
living
i wish the dude who wrote that garbage would explain that. How does a dudes asset bring them relief unless they sell up!Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
CRASH_BANG_WALLOP wrote: »i wish the dude who wrote that garbage would explain that. How does a dudes asset bring them relief unless they sell up!
More equity = better deal when remortgaging. A vast number of borrowers are now enjoying mortgage rates of between 0.6% and 3%, saving them hundreds of pounds per month.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Graham_Devon wrote: »Can anyone tell me how having 59k added to the value of your home brings releif to your cost of living?!CRASH_BANG_WALLOP wrote: »How does a dudes asset bring them relief unless they sell up!Turnbull2000 wrote: »More equity = better deal when remortgaging. A vast number of borrowers are now enjoying mortgage rates of between 0.6% and 3%, saving them hundreds of pounds per month.
Thanks for explaining that one, Turnbull :rotfl:0 -
Graham_Devon wrote: »Can anyone tell me how having 59k added to the value of your home brings releif to your cost of living?!
Turnbull has provided the answer, though I'm surprised you don't know about mortgage Loan to Value calculations already?
Anyway, you seem to have lost interest in your thread now.0 -
Turnbull2000 wrote: »More equity = better deal when remortgaging. A vast number of borrowers are now enjoying mortgage rates of between 0.6% and 3%, saving them hundreds of pounds per month.
So now with falling prices people will have less equity and higher rates which in turn will force prices down further creating a downward spiral.
Sounds good. :rotfl::exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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RenovationMan wrote: »Turnbull has provided the answer, though I'm surprised you don't know about mortgage Loan to Value calculations already?
Anyway, you seem to have lost interest in your thread now.
Hang on now renoman. I thought you swore blind you don't care about HPI.
You certainly seem to be championing it now.0 -
So now with falling prices people will have less equity and higher rates which in turn will force prices down further creating a downward spiral.
Sounds good. :rotfl:
I'm surprised you didn't know already that if house prices fall, people's LTV values also fall, making mortgages more expensive. Whether extra expense is sufficient to push people over the edge financially and result in reposessions, I'm not sure but I'm shocked you think it "sounds good. :rotfl:"
People can counteract falls in their equity by increase their repayments to retain their LTV andensure they get access to the best possible mortgage products. That's what I'm doing with my mortgage. No worries.
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AwesOme news high house prices forever0
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And what about all the new families that will be around in 13 years time? How does it help them?The_Express wrote: »The average house price in the UK is currently £226,887, meaning a two per cent rise would see values rise by more than £4,500 a year.
Over the 13-year period projected by experts, that equates to £59,000 added to the value of the average home, bringing welcome relief to millions of families already struggling with the cost of living.0
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