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Council of Mortgage Lenders advises "sell to rent"!!!

hgllgh
hgllgh Posts: 169 Forumite
in House buying, renting & selling
What more damning a view of the property market can you get than the CML advising some to sell their homes! ...

http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=426474&in_page_id=58
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Comments

  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    This is what I think of that:

    http://forums.moneysavingexpert.com/showthread.html?t=577151
    Been away for a while.
  • thegibdog
    thegibdog Posts: 109 Forumite
    Think that must be an incorrect link Running Horse, it seems to have no relevance to hgllgh's post which was in fact a link to an intersting story regarding the property market.
  • leftieM
    leftieM Posts: 2,181 Forumite
    Part of the Furniture Combo Breaker
    It makes perfect sense to sell up if you can't afford your mortgage and there is the possibility of repossession in the future, which is the situation that the article refers to.
    Stercus accidit
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    thegibdog wrote: »
    Think that must be an incorrect link Running Horse, it seems to have no relevance to hgllgh's post which was in fact a link to an intersting story regarding the property market.
    Wow! You registered a new name just to reply to me and bump your own thread.:D
    Been away for a while.
  • SquatNow
    SquatNow Posts: 2,285 Forumite
    This is the nations BIGGEST vested interest effectively calling top.

    This is an admission that there is going to be a crash!
    Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Whether they (can) sell. Or whether they wait for a repossession ... will just be the difference between an orderly queue and a chaotic scramble to the bottom.

    If they are choosing to sell, lower to get rid, then it will show others that real people are choosing to sell lower... so it will just send out a message of "look, we're switched on ... see our price" rather than "OMG"

    A nice orderly queue to the bottom, imho, is nicer than a crazy tumbling mass of confusion.

    Same end result.
  • thegibdog
    thegibdog Posts: 109 Forumite
    Running_Horse wrote: »
    Wow! You registered a new name just to reply to me and bump your own thread.:D

    Congratulations Running Horse, I am a new member and you've already started to alienate me.
    :T
  • LisbonLaura
    LisbonLaura Posts: 1,121 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    hgllgh wrote: »
    What more damning a view of the property market can you get than the CML advising some to sell their homes! ...

    http://www.thisismoney.co.uk/mortgages/mortgages/article.html?in_article_id=426474&in_page_id=58

    Poor Mortgage lenders, what are they to do. When the fixed interest folk come in through the front door over the next few months to renew, what will happen?

    --- "Err sorry, as we gave you a 125% self-certificated loan at five times your 'income', we've decided we didn't mean to lend to you to begin with. We'd like our money back please".

    So it's anything to cut down on the dirty repo business, & its costs...... Though it might be the only UK employment growth area :)

    ....................................................................................................

    This is NOT a crash thread. There wont be a crash, just a correction to sanity, but far too late.
  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    thegibdog wrote: »
    Congratulations Running Horse, I am a new member and you've already started to alienate me.
    :T
    It's a gift. :cool: I can smell fish a mile away.
    Been away for a while.
  • thegibdog
    thegibdog Posts: 109 Forumite
    Running_Horse wrote: »
    It's a gift. :cool: I can smell fish a mile away.

    I'm not sure what you mean by this comment but I presume it's intended as an insult. Or maybe you are just bragging about your extraordinary sense of smell when it comes to sealife? Either way I don't think it's really relevant to the thread.
This discussion has been closed.
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