Funding for Lending on mortgages is ended

AndyGuil

I think would prefer sustainable rises over the long term.

Conrad

AndyGuil wrote: »

I think would prefer sustainable rises over the long term.

So would many but I still think HPI will be vast again say over a 25 year span. More and more people wont rely on a pension, property for this reason alone is going to remain a very attractive wealth store.

Talking to an old mate yesterday, sorting him some finance and he listed off his 8 properties, he's 45.

He was so casual about it. I worked with him when we were early 20's. He's just another ordinary mid earning nice bloke but now feeling nice and secure and doesn't get that guilt feeling when spending money anymore.
He said it's about freedom pure and simple.

He aims to retire in next few years.

He's very laid back which really helps in B2L as you do get a lot of knocks and surprises.

AndyGuil

Conrad wrote: »

So would many but I still think HPI will be vast again say over a 25 year span. More and more people wont rely on a pension, property for this reason alone is going to remain a very attractive wealth store.

Talking to an old mate yesterday, sorting him some finance and he listed off his 8 properties, he's 45.

He was so casual about it. I worked with him when we were early 20's. He's just another ordinary mid earning nice bloke but now feeling nice and secure and doesn't get that guilt feeling when spending money anymore.
He said it's about freedom pure and simple.

He aims to retire in next few years.

He's very laid back which really helps in B2L as you do get a lot of knocks and surprises.

I think HPI will too.

wotsthat

Graham_Devon wrote: »

Because we will finally start seeing the market for what it actually is, as I've already stated. Pricing of mortgages and savings accounts will start the long road of starting to get back to normality and offering true cost rates...whatever they may be.

Competition will once again be able to take hold. Risk will once again fall on the lenders for normal mortgages (say normal, as I need to exclude HTB mortgages).

Oh. I thought is was because you hoped this would lead to a reduction in mortgage lending, a mini credit crunch and a HPC. I must be thinking about that other Graham_Devon again.

Graham_Devon

wotsthat wrote: »

Oh. I thought is was because you hoped this would lead to a reduction in mortgage lending, a mini credit crunch and a HPC. I must be thinking about that other Graham_Devon again.

Yes, probably the one you keep making up.

If this leads to a reduction in house prices or anything you have suggested above, then put simply, house prices were artifically high. We can't continue on that path forever.

Hence why I'd simply like to see a natural level. If that natural level is where prices are today, then fine. But I don't believe it is. I believe its some way lower.

Thing is, if prices fall on the back of this, the people it will hurt the most again are those using the schemes offered today and those rushing in to buy on fear of prices rising. It could even put the taxpayer at risk if prices start to fall back, even slightly, while HTB continues. I'm surprised they have done it to be honest, but am at the same time delighted. I've said a million times I'd rather see a natural level instead of artificial stimulus.

I've not said anything controverisal on this thread, so the amount of attacking is a bit silly really. Almost wish Percy would sign on and say something so that I get a little relief while you all fall over yourselves to have a go at him! Come on percy, where are you lad!?

chucky

Graham_Devon wrote: »

If this leads to a reduction in house prices, then put simply, house prices were artifically high.

Hence why I'd simply like to see a natural level. If that natural level is where prices are today, then fine. But I don't believe it is. I believe its some way lower.

Thing is, if prices fall on the back of this, the people it will hurt the most again are those using the schemes offered today and those rushing in to buy on fear of prices rising. It could even put the taxpayer at risk if prices start to fall back, even slightly, while HTB continues.

You can keep on attacking on every thread, but I can at least provide reasons for my arguments.

Thing is, if house prices rise then it will be the natural level and we can all agree that you have been wrong all along in your one man campaign against house prices.

But then again the Devonian Economic Theory is that if house prices rise it would be artificial and it's only house price falls which becomes the natural level.

Graham_Devon

chucky wrote: »

Thing is, if house prices rise then it will be the natural level and we can all agree that you have been wrong all along in your one man campaign against house prices.

Well no, because you still have HTB.

Hence why I said it's a start on getting back to normality.

chucky

Graham_Devon wrote: »

Well no, because you still have HTB.

Hence why I said it's a start on getting back to normality.

So it will be the first time buyer purchases that will be the cause of any house price rises not because the rises would be their natural level?

Graham_Devon

chucky wrote: »

So it will be the first time buyer purchases that will be the cause of any house price rises not because the rises would be their natural level?

Why just first time buyers?

HAMISH_MCTAVISH

Graham_Devon wrote: »

Why just first time buyers?

Because the vast majority of HTB loans are to FTB.