Debate House Prices


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'We've reached a tipping point' Signs of house price weakness

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Comments

  • ladeeda
    ladeeda Posts: 199 Forumite
    Rota wrote: »
    They sure do, while they are getting money from them. A smart person would ensure they don't have a rent cost when they don't have the ability to earn money.

    If people don't have any money housing benefit pays rent for them. A large % of HB goes to pensioners rents (and mortgages). Not all are in a position to buy, if they were there would be little (not none) demand for private rentals.

    You a LL?
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Crashy_Time wrote: »
    If you have a mortgage you don`t own anything I`m afraid.


    Just to add, if you don`t know the difference between owning a flat and having a mortgage on a flat, don`t bother pulling me up on my spelling pal. Cheers.

    I think you will find the deeds are in your name not the banks.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ladeeda wrote: »
    If people don't have any money housing benefit pays rent for them. A large % of HB goes to pensioners rents (and mortgages). Not all are in a position to buy, if they were there would be little (not none) demand for private rentals.

    You a LL?

    But only at the level they decide that would be a 1 bed flat for a couple.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ukcarper wrote: »
    I think you will find the deeds are in your name not the banks.


    Yes, that is how they scam people out of their money. Try missing a few payments and then see who owns the property.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Crashy_Time wrote: »
    Yes, that is how they scam people out of their money. Try missing a few payments and then see who owns the property.

    They can apply to take you to court to recover their money but they don't own the house there is a big difference.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ukcarper wrote: »
    They can apply to take you to court to recover their money but they don't own the house there is a big difference.


    Why do properties get repo`d then?
  • saguk1234
    saguk1234 Posts: 64 Forumite
    No but the banks can put a charge on the house which prevents a proper sale!
  • Rota
    Rota Posts: 167 Forumite
    edited 9 August 2014 at 10:21PM
    ladeeda wrote: »
    If people don't have any money housing benefit pays rent for them. A large % of HB goes to pensioners rents (and mortgages). Not all are in a position to buy, if they were there would be little (not none) demand for private rentals.

    You a LL?

    I was for a while while living overseas. I didn't want* anyone not working in the flat.

    *edit
  • Rota
    Rota Posts: 167 Forumite
    Crashy_Time wrote: »
    Yes, that is how they scam people out of their money. Try missing a few payments and then see who owns the property.

    Crashy, how old are you? I'm 39
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    ukcarper wrote: »
    But only at the level they decide that would be a 1 bed flat for a couple.

    LHA for my area is £605 a month the cheapest property in my area is £695 if I move to a not very nice area I could get a ropey flat for £625 a month.
This discussion has been closed.
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