30% fall in property if no deal brexit

DaveandMayu

It's looking more and more likely there will be large falls in property

Thrugelmir

phillw wrote: »

If you end up on benefits then you can claim SMI and then you can keep your house. This isn't the 1980's or 1990's crash.

SMI is only a loan. No longer a pure benefit. As was the case in the past. Not the solution anymore. Nor is financial distress restricted to those claiming benefits.

MobileSaver

DaveandMayu wrote: »

It's looking more and more likely there will be large falls in property

Only to the HPC fantasists and they've been getting it wrong for over fifteen years...

AG47

phillw wrote: »

If you end up on benefits then you can claim SMI and then you can keep your house. This isn't the 1980's or 1990's crash.

The houses that are losing a large value are the ones that only the super rich can afford.

No it used to be that benefits would pay the interest, but now they just loan you that amount until you can start paying the interest again yourself.

Ofcourse most can't pay back this new loan either and they get repossessed

ukcarper

AG47 wrote: »

No it used to be that benefits would pay the interest, but now they just loan you that amount until you can start paying the interest again yourself.

Ofcourse most can't pay back this new loan either and they get repossessed

You really have no idea do you.

51mm5

AG47 wrote: »

Ofcourse most can't pay back this new loan either and they get repossessed

Where did you source that information from?

Zxcv_Bnm

MobileSaver wrote: »

As the old adage goes, if you want to see who will own property after a crash, take a look at who owns property before the crash.

This........^

andrewf75

Its truly bizarre how people who can't afford houses now think they will be able to after a crash.

triathlon

Jack_Johnson_the_acorn wrote: »

30% cheaper than what point? My property has increased by at least that amount since 2011..... Plus it's been about £300 pm less to buy than rent. So buyers are still quids in. Good news all round

Just looking at my living home alone, if prices were to fall 65% or more I would still be doing better than so many of these crash hopefuls.

enthusiasticsaver

Even if there is a drop in house values I sincerely doubt it will be a crash. People still need to live somewhere, developers will not be building and as long as there is a demand for houses prices will remain more or less stable. In certain areas, maybe where unemployment starts to rise then they may fall and never recover but I think London and the south east will not experience a crash. It may mean people who don't have to move won't and there will be less available property around.

Personally I think house prices falling is the least of the worries around Brexit. Lack of investment in the UK, problems at the border with people and goods taking longer to get through customs etc and increased prices seem to be more of an issue. The banks don't need to lend to us, they are global so there should be no concern if we don't take on their mortgages. UBS is moving 36 billion out of the UK to Germany as we speak along with many of their London staff. Brexiteers still think this is good for the UK?