Straw that broke the camels back?

greggymagic

angel1066 wrote: »

sorry for not getting back to you sooner clapton, but lost this thread lol

size of loan is 160k apr is fixed for 2-5 yrs at 4.99% price range l'm looking at is up to 180k max ang l l'm looking in east sussex in south east

hope that helps a little

4.99% isn't that bad for a five year fix for a FTB.

What will your LTV be?

What rate were you hoping for?

the_flying_pig

Yet more economic heavyweights queuing up to condemn this rubbish.

Conrad

wotsthat wrote: »

Doesn't look like they got the memo or maybe the media is continuing to produce content that appeals to their target audience - as normal.

http://www.dailymail.co.uk/news/article-2298606/Biggest-rise-house-prices-years-Overseas-buyers-Britain-safe-haven-eurozone-crisis.html

Some of us have been on about the safe haven effect and it's impact on property prices.

British real estate is a superb investment compared with other investing options in this world.

Graham_Devon

wotsthat wrote: »

Agreed. However, there's little sign of the media starting to push the message that house prices need to fall as claimed in the OP.

Open to opinion then I guess.

Though there is weight behind what I picked up on, from others who have seen the same. One of the programmes was linked to on iplayer. More difficult to link to bits you have just heard on radio stations.

Online newspaper sites had enough articles up at the time of my initial OP to prove my point though.

Thrugelmir

wotsthat wrote: »

Agreed. However, there's little sign of the media starting to push the message that house prices need to fall as claimed in the OP.

Media tends to be behind the news.

Merv stated that the banks needed more capital last November. Today its front page news.

Graham_Devon

Media is now running stories linking this to Freddie Mac and Fannie Mae in America, with a former senior exec at the bank warning the UK government of the risks of the venture they are undertaking.

The Help to Buy scheme carries echoes of the push by two successive American presidents to encourage home ownership in the US, where two government-backed companies were used to support the country’s housing market.

When America’s housing market crashed in 2008, US taxpayers were forced into a $190bn (£125bn) rescue of Freddie Mac and Fannie Mae, the two companies that operated with an implicit guarantee from the government, as they bought billions of dollars of increasingly sub-prime mortgages from banks.

“The Government needs to go in with its eyes wide open about what their risk exposure is over the long term,” said Cliff Rossi, a former senior executive at Freddie Mac and Fannie Mae and now a professor of finance at the University of Maryland.

The CEBR has also come out against the plan.

Capital Economic are also taking part, looking at the bloodbath that could happen when these peoples interest rates go up.

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/9967446/Government-must-keep-its-eyes-open-to-Help-to-Buy-risk.html

The opposition to this plan just keeps coming. The only people I have seen suggest it's overall a good thing is the CBI, A group of Estate Agents and Hamish's link to a mortgage advisor.

Thrugelmir

Graham_Devon wrote: »

Capital Economic are also taking part, looking at the bloodbath that could happen when these peoples interest rates go up.

Rates will be held low as long as is necessary. Shows how far we've yet to go.