FTB numbers up 25% in a year.....

wotsthat

Graham_Devon wrote: »

Your "backing to the hilt" of HTB as a scheme next to downplaying HTB figures at every opportunity is puzzling to say the least.

Not really. HTB is increasing supply and reducing HPI pressure where uptake is biggest. On the other hand we're seeing big increases in young people able to buy without government help too. There's no puzzle - we're tripping over good news.

Graham_Devon wrote: »

Anyway, you are wrong. 85% of HTB buyers were FTB's.

You've misread my post.

I don't dispute that figure - I was talking about the proportion of FTB's using HTB.

Jack_Johnson_the_acorn

Graham_Devon wrote: »

Your "backing to the hilt" of HTB as a scheme next to downplaying HTB figures at every opportunity is puzzling to say the least.

Anyway, you are wrong. 85% of HTB buyers were FTB's.

He didn't say HTB wasn't mainly used by FTB's.

You've made many strawman arguments today, this is possibly your finest effort though.:D

pop_gun

House prices are only going up because the indices form part of the GDP numbers. It's in the government's interest to see they go up.
I wonder how many of these first time buyers will be in tomorrow's distressed mortgages or repossession list?

ukcarper

pop_gun wrote: »

House prices are only going up because the indices form part of the GDP numbers. It's in the government's interest to see they go up.
I wonder how many of these first time buyers will be in tomorrow's distressed mortgages or repossession list?

As they will have meet the new lending criteria why would they?

gbsilp

ukcarper wrote: »

As they will have meet the new lending criteria why would they?

I recall my mortgage broker telling me of a rush of applications prior to the MMR coming in as people were afraid they would not meet the new criteria. Also, mortgages once approved generally have to be drawn down within 3-6 months. I think it's too early to say that all these mortgages were approved under the new criteria.....

Bubble_and_Squeak

pop_gun wrote: »

House prices are only going up because the indices form part of the GDP numbers. It's in the government's interest to see they go up.
I wonder how many of these first time buyers will be in tomorrow's distressed mortgages or repossession list?

A LOT!
the economy is going nowhere
the gdp growth is borrowed money
a slight increase in the cost of servicing the growing debt mountain will tip the economy back into recession

HAMISH_MCTAVISH

gbsilp wrote: »

I recall my mortgage broker telling me of a rush of applications prior to the MMR coming in as people were afraid they would not meet the new criteria.

Yet mortgage approvals have increased since the new criteria were implemented... Both month on month and year on year.

So that doesn't appear to be supported by the evidence?

HAMISH_MCTAVISH

Bubble_and_Squeak wrote: »

a slight increase in the cost of servicing the growing debt mountain will tip the economy back into recession

And what happens when you're proved wrong?

As the economy continues to grow, unemployment continues to fall, etc, there is no reason that rates shouldn't rise.

However a rise under such positive conditions would not be consistent with triggering either a recession or a house price crash.

Bubble_and_Squeak

HAMISH_MCTAVISH wrote: »

And what happens when you're proved wrong?

As the economy continues to grow, unemployment continues to fall, etc, there is no reason that rates shouldn't rise.

However a rise under such positive conditions would not be consistent with triggering either a recession or a house price crash.

OH MY DAYS!
you think the economy growing!
hahaha

alberty

Starting a 5 year fix mortgage I do worry that the strength of the recovery means rate rises will be a lot steeper than carney is saying. Should have fixed 10 years..