'HPI should be capped at 5%' - RICS

leveller2911

chucky wrote: »

Bless you Leveller. You're a good person.

Oh dear.......... Rinsed ya lightweight.;)

leveller2911

Loughton_Monkey wrote: »

I would simply love to have a 40 ft motor yacht moored in Nice. The
reality is I cannot afford it.

I'm sure there is a HTB scheme run by the Condems that could be of use to you LM...:D

chucky

leveller2911 wrote: »

Oh dear.......... Rinsed ya lightweight.;)

Nope. Finished off watching Villareal vs Real Madrid, much more interesting.

chucky

Loughton_Monkey wrote: »

As I see it, people are in two camps. There is one very notable camp that says:

Prices are too high: So I can't buy.
Prices are going up: I'm going to be priced out, so I'll wait until they come down again.
There is extremely high demand: So I won't get one anyway.
Houses aren't selling: Obviously something going on, so I won't buy.
Mortgages are cheap: Can't buy, 'cos my mortgage payments will go up and cripple me.
Mortgages are expensive: Can't buy, 'cos I can't afford the repayments.

The other tends to say:

Prices are too high: So I need to save harder.
Prices are going up: I'd better get in there quick.
There is extremely high demand: So I need to get in there even quicker and might have to lower my expectations a tad.
Houses aren't selling: Should be able to get a bargain.
Mortgages are cheap: So it's a great bargain. Sooner I buy, the more years I get on mega-low interest rates.
Mortgages are expensive: I'll sacrifice to start with. Almost certainly they'll go down over time.

All I know is that I bought my first in 1973. With hindsight, the difference in my house equity today - had I paid 20% less for the first house (or 20% more for it) - is totally irrelevant.

I would simply love to have a 40 ft motor yacht moored in Nice. The reality is I cannot afford it. But I can give you 40 other reasons, if you like, why I am not buying a 40 ft yacht to moor in Nice.

What a great post.

Loughton_Monkey

leveller2911 wrote: »

I'm sure there is a HTB scheme run by the Condems that could be of use to you LM...:D

HSIN

Help to sail in Nice.

They pay 95% of the cost. I pay 5% interest free for the first 5 years.

After 5 years, either I need to cough up the 95%, or... er... they will take the boat off me.

I could go for that!

Vince Cable wouldn't like it, though, while our freind GD would spend forever convinced that there would be a yacht price bubble.

Eat your heart out Robert Maxwell.

Graham_Devon

leveller2911 wrote: »

Lol, made me chuckle there chucky boy.I do live in the real world, I know a few people local to me who have pretty much the scenario I posted and even larger benefit income. Its not unusual ,in fact its common place now.

I find it strange that the Condems will lend people up to £120k interest free for 5 years on a mortgage for a house and yet they are not interested in lending money to small to medium sized businesses that are viable and making a profit.

Do you not find that slightly worrying Chucky?.They will manipulate the housing bubble but not the wealth creators of the country.. Thats a bit odd imo.

EDIT:Don't take my word for it Chucky, pop onto the Governments tax credits calculator and see for yourself. Have a look at the threads on the mortgage section and the advice given by the mortgage advisors on there or the lending criteria online from the lenders re benefits being used as income.

I never knew that benefits would count towards how much you can borrow on a mortgage!!

Has this always been the case, or is it a new thing?

the_flying_pig

Loughton_Monkey wrote: »

As I see it, people are in two camps. There is one very notable camp that says:

Prices are too high: So I can't buy.
Prices are going up: I'm going to be priced out, so I'll wait until they come down again.
There is extremely high demand: So I won't get one anyway.
Houses aren't selling: Obviously something going on, so I won't buy.
Mortgages are cheap: Can't buy, 'cos my mortgage payments will go up and cripple me.
Mortgages are expensive: Can't buy, 'cos I can't afford the repayments.

The other tends to say:

Prices are too high: So I need to save harder.
Prices are going up: I'd better get in there quick.
There is extremely high demand: So I need to get in there even quicker and might have to lower my expectations a tad.
Houses aren't selling: Should be able to get a bargain.
Mortgages are cheap: So it's a great bargain. Sooner I buy, the more years I get on mega-low interest rates.
Mortgages are expensive: I'll sacrifice to start with. Almost certainly they'll go down over time.

All I know is that I bought my first in 1973. With hindsight, the difference in my house equity today - had I paid 20% less for the first house (or 20% more for it) - is totally irrelevant.

I would simply love to have a 40 ft motor yacht moored in Nice. The reality is I cannot afford it. But I can give you 40 other reasons, if you like, why I am not buying a 40 ft yacht to moor in Nice.

right.

so you:

(a) are silent on whether high prices matter or not; but

(b) think it's... what's the word? 'manly'? 'heroic'? 'bold'? 'savvy'? to buy a house?

i suppose that's a contribution of sorts.

Loughton_Monkey

the_flying_pig wrote: »

right.

so you:

(a) are silent on whether high prices matter or not; but

(b) think it's... what's the word? 'manly'? 'heroic'? 'bold'? 'savvy'? to buy a house?

i suppose that's a contribution of sorts.

I wasn't trying to comment on whether or not "high" [definition?] prices "matter" [to whom?]. Nor do I think it's any of these words to buy a house. I don't tend to use the word "savvy" but I do happen to think it is wise to buy your own house if you can - not least to avoid having to pay rent in later life when you can't afford it.

As for anything that's not cheap, buying is not possible for all. But I happen to think that many people pretend it's not possible because they would 'like' them to be cheaper, and they possibly have other priorities instead. That is entirely up to them.

Let me make it perfectly clear. I know exactly my own experience of buying. The ups and downs. Higher real prices/lower real prices. High interest rates/low interest rates. The difficulties and the benefits.... But for everyone else, I don't give a monkey's cuss whether or not they can or should buy. It's entirely their own decision.

My post [as you quoted] crystallises what I see as the vast difference in opinions. Neither my opinion, nor yours, stands a single iota of a chance to change the UK financial property climate at all. So we all have to work within it. I just think it's good for 'innocent readers' who genuinely wish to understand the harsh realities of the world to be exposed to a good debate and make their own minds up. As ever, as on any topic, the positive stand more chance than the negative of doing well.

Yorkie1

Please click 'spam' on Vonda's post - 10 identical posts promoting the same book.

leveller2911

Yorkie1 wrote: »

Please click 'spam' on Vonda's post - 10 identical posts promoting the same book.

Job done Yorkie......