Mortgages at most affordable for 14 years

thescouselander

There we have it then:

Average mortgage payments for a new borrower - including both first time buyers and home movers

So when Halifax talk about new borrowers that includes people who could have been in the market for a long time and have a considerable amount of equity behind them.

I stand by my original point - if you have been in the market a while then yes, money is cheap to borrow at the moment. On the other hand, for FTBs, this is more than countered by the large loans they have to take out. I would further say when Halifax are talking about "average" repayments not many FTBs fall into this category.

HAMISH_MCTAVISH

thescouselander wrote: »

So when Halifax talk about new borrowers that includes people who could have been in the market for a long time and have a considerable amount of equity behind them.

You miss the point.

Halifax use the same deposit requirement for both FTB's and Movers.

They treat both the same, with identical deposit requirements.

dryhat

You must be really stupid if you think lending more and more money to buy increasingly more expensive houses is a good thing.

Loughton_Monkey

dryhat wrote: »

You must be really stupid if you think lending more and more money to buy increasingly more expensive houses is a good thing.

I rather missed this one. Was trying to follow the dabate...

Who must be stupid?

A good thing for who?

dryhat

Loughton_Monkey wrote: »

I rather missed this one. Was trying to follow the dabate...

Who must be stupid?

A good thing for who?

Don't worry about anything mate. Everything's fine.


Just carry on with the G&Ts

Jack_Johnson_the_acorn

dryhat wrote: »

Don't worry about anything mate. Everything's fine.


Just carry on with the G&Ts

G&Ts all around!!!:money:

ukcarper

Jack_Johnson_the_acorn wrote: »

G&Ts all around!!!:money:

Personally I'm tea total but if dryhat made an interesting intelligent post back up with facts I might be tempted.

Loughton_Monkey

ukcarper wrote: »

Personally I'm tea total but if dryhat made an interesting intelligent post back up with facts I might be tempted.

Well he told me to carry on with the G&T's. As you're TT, I had a treble for you.

Hope you appreciate that.

thescouselander

HAMISH_MCTAVISH wrote: »

You miss the point.

Halifax use the same deposit requirement for both FTB's and Movers.

They treat both the same, with identical deposit requirements.

I dont think so:

The national average loan to value over the period from 1983 to 2012 of 70% has been applied to the average standardised house price to calculate the average new mortgage.

The average LTV for a FTB is not 70%.

Basically the Halifax calculations are based on statistics that have been tortured to a considerable degree to get the outcome they claim. Basing affordability on some average LTV on "average" loan amount and then comparing that to average earnings is all pretty meaningless and wont reflect reality for the majority of people in the market.

ukcarper

thescouselander wrote: »

I dont think so:



The average LTV for a FTB is not 70%.

Basically the Halifax calculations are based on statistics that have been tortured to a considerable degree to get the outcome they claim. Basing affordability on some average LTV on "average" loan amount and then comparing that to average earnings is all pretty meaningless and wont reflect reality for the majority of people in the market.

If they use 70% all the time then that's what matters it's a comparison over time.