We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
FCA: Interest-only mortgage crackdown "gone too far"
Comments
-
the_flying_pig wrote: »there's loads and loads of room for IO as a niche product and there are loads and loads of banks who still offer it.
Nationwide and HSBC have effectively withdrawn from the market.
The additional capital required to bolster their balance sheets appears to be the major fact.0 -
HAMISH_MCTAVISH wrote: »...45,000 posts on here and you still don't grasp the basics of economics.
Just.... wow.
:(:(:(:( FACT.0 -
Conventional Wisdom:
Only consider leverage as something secured against your home
Pay down your mortgage as quickly as possible
Alternative Wisdom:
Consider leverage as secured against your entire investment portfolio (even if, on paper, it's only secured against your home)
Don't pay down your mortgage - instead, increase your investments on a monthly basis and your total borrowings, over time, become less significant given it's percentage in relation to your overall portfolio
I'm not saying that my alternative is guaranteed to work out better - but, in my opinion, it's highly likely.0 -
HAMISH_MCTAVISH wrote: »Just the opposite.
We've seen a million FTB-s locked out of buying thanks to mortgage rationing. And instead an extra million houses have been converted to rental.
Those potential FTB-s are now enriching their landlords.
So why are you not campaigning to stop I/O mortgages for landlords?
Why, if you are against this, are you so gleeful that rents have risen?
You are being very hypocritical. Can't quite believe after all yoru gleeful posts over rents increasing, gleeful posts over BTLS getting preferential mortgage rates etc that you are now pretending to be concerned about the injustice of it all.
As for your last bit of nonsense...please explain to me how upping lending for mortgages and therefore upping house prices provides employment?0 -
Graham_Devon wrote: »So why are you not campaigning to stop I/O mortgages for landlords?.
Eh?
The solution to artificially restricted credit can never be more artificially restricted credit.“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 -
marathonic wrote: »Alternative Wisdom:
Consider leverage as secured against your entire investment portfolio (even if, on paper, it's only secured against your home)
Don't pay down your mortgage - instead, increase your investments on a monthly basis and your total borrowings, over time, become less significant given it's percentage in relation to your overall portfolio
Wisdom? No greed. Wealth without effort.
Fact of Life. There's no such thing as a free lunch. Everything has to be paid for (if not today then in the future).0 -
Theres nothing artificial about it.
Secondly, that wasn't my point. My point was plainly obvious.
You were suggesting there was an injustice, and that wealth was going to the few, not the many.
Therefore, why are you not complaining of the injutice of the few getting preferencial deals?
Simply questions H. No need to dance like a cat on a hot tin roof.0 -
Graham_Devon wrote: ».please explain to me how upping lending for mortgages and therefore upping house prices provides employment?
Eh?
You really don't understand how increasing credit availability, which enables more new houses to be built (employing people), which enables more people to move house (employing people), which means all those people will need to buy things for their new houses (employing people), or have renovations done on them (employing people), or have an extension built (employing people), or how any of this increase in consumer spending, provision of services, and secondary spend from the extra employed people, then stimulates the wider economy?
Seriously?“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 -
Graham_Devon wrote: »Theres nothing artificial about it.
Secondly, that wasn't my point. My point was plainly obvious.
You were suggesting there was an injustice, and that wealth was going to the few, not the many.
Therefore, why are you not complaining of the injutice of the few getting preferencial deals?
Because the solution to injustice can never be to create more injustice.
You don't cure someone with a broken arm, by breaking the other arm.
Simple answer Dev.“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 -
Thrugelmir wrote: »Wisdom? No greed. Wealth without effort.
Fact of Life. There's no such thing as a free lunch. Everything has to be paid for (if not today then in the future).
So now you're saying that investing is greed? I'll not be justifying that with more than a two line reply.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards