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Debate House Prices
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Budget 2013 live....
Comments
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james_toney wrote: »12bn will support about 500,000 homes deposits (average price) wowww
No, it's even better than that. It would be 500,000 at 20%.
If you have a 10% deposit, then the government adds a guarantee for 10%, it's a million higher LTV mortgages.
Or at 15% guarantee (plus 5% deposit) it's 750,000 mortgages at higher LTV.
By comparison, there were just a few tens of thousands last year.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
ok, so it's a sweetener to house builders. .
Nope.
2 parts to scheme.
3.5 bn for newbuild mortgage funding, which is the 20% loan interest free for 5 years....
PLUS
130 bn in govt guaranteed new higher LTV lending for ANY house.
The biggest impact by far is the guaranteed scheme, which will almost all go into existing houses.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »No, it's even better than that. It would be 500,000 at 20%.
If you have a 10% deposit, then the government adds a guarantee for 10%, it's a million higher LTV mortgages.
Or at 15% guarantee (plus 5% deposit) it's 750,000 mortgages at higher LTV.
By comparison, there were just a few tens of thousands last year.
yes , all in all great news for the housing market
Ex HPC fool0 -
Graham_Devon wrote: »It's not about whether he can buy a house, it's the liabilites being built.
I don't expect you to understand and I don't expect you to agree.
If, when my kids were two years old, I thought there was a realistic chance that in 20 years time they would face a grim future not able to afford a house, petrol, 'essentials' etc. and be saddled with the unmanageable debt of previous generations I'd would've cleared off to somewhere else. Why would you stay and subject them to that?0 -
Looking at the two housing schemes:
http://www.hm-treasury.gov.uk/d/budget2013_help_to_buy_infographic.pdf
Am i missing something as they don't seem that good?
Option 1 is already available?
Option 2 is essentially no different than option 1?0 -
State guaranteed 95% LTV low rate mortgages up to £600,000 on new and existing properties :beer:
Think another upwards drive in house prices is on the cards.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 -
HAMISH_MCTAVISH wrote: »They already have.
Prices up over the last year on almost all the major indices.
Was this announcement known ahead of time?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
The government guarantees a % of the mortgage.
I.e. on a 190k mortgage, 30k would be guaranteed.
Banks lend to the wrong people they will lose millions. Maybe slightly more lenient lending but i don't see much change.0 -
Annoyed.
My +4% nominal HPI in Hamish's 2013 prediction thread looks ridiculously low now.
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Mr._Pricklepants wrote: »Annoyed.
My +4% nominal HPI in Hamish's 2013 prediction thread looks ridiculously low now.
I said the other day that the budget has potentially to return double digit growth sooner than expected. The scene is almost set...
Nothing on pushing house building though? As expected, stimulating demand and con-straining supply.
If you're a first-time buyer with cash, better make a move soon before you're competing with lots of state supported buyers for limited property.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
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