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

hgllgh

leftieM wrote: »

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.

Quite right, but for the CML to state this publicly is more than unusual.
To make this statement the CML must have taken a detailed look at the 1.4million about to come out of their cheap deals and come to the conclusion that a significant number will be in trouble.

The next 12 months will be interesting ... the auction houses will be laughing:T

LisbonLaura

Hello gibdog -- keep smiling.

I would have questioned RH about his first response to this thread too.

No offence intended RH

Just keep smiling everyone........it's only another lifetime

Running_Horse

LisbonLaura wrote: »

I would have questioned RH about his first response to this thread too.

No offence intended RH

Non taken. But how is the link I quoted not relevant to yet another house price crash thread? This board is full of genuine people asking for advice, by droning on and on about prices, it just pushes those pleas for help off the first page. If new members joined in a few of those discussions they might get a warmer welcome. Here is the link again:




No More House Price Crash Threads Please
It has come to my attention that recently there has been a glut of people starting House Price Crash threads.

Please can we have no more started. The topic has been done to death so far, but if people feel they need to discuss it more then please use the one house price crash thread i have started here. Any other threads started will be merged in with this one.

Also when people ask a simple question about buying, if members can refrain from posting that they are wasting there money as a housing crash is coming that would be appreciated. People ask for advice on their particular problem, and having some users continually state that they are stupid and doom is coming is not helpful at all to the boards.

Thanks very much

SteveSilva

Presuming the people we are talking about bought their properties 2-5 years ago they may well have made a 20% plus profit, now if sell, they can pay off their mortgages, move back with their parents wait a couple of years and then buy an even bigger house!!!

But clearly this is a sign that the CML is indeed worried and they are trying to get back their money one way or another.

Turnbull2000

I take it one peculiar poster on this thread is desperately trying to push any kind of market talk into the crash thread.

Here's a tip; Right click and copy his/her username, Go to your UserCP, click Buddy / Ignore Lists as the bottom left, paste said username into Ignore List and save.
Hey presto, pointless poster is gone :beer:

tr3mor

Running_Horse wrote: »

Running Horse thanked 597 times in 289 posts. thegibdog thanked 0 times in 0 posts.

4 in 4 now. That's a 100% record.

:money:

dolce_vita

tr3mor wrote: »

4 in 4 now. That's a 100% record.

:money:

5 in 4 now. That's a 125%

Running_Horse

I added another thanks for gibdog. Don't want to feel left out. Herd mentality and all that.

Running_Horse

Turnbull2000 wrote: »

I take it one peculiar poster on this thread is desperately trying to push any kind of market talk into the crash thread.

Here's a tip; Right click and copy his/her username, Go to your UserCP, click Buddy / Ignore Lists as the bottom left, paste said username into Ignore List and save.
Hey presto, pointless poster is gone :beer:

Don't worry, I'm not so thin skinned and sensitive as to put you on ignore.:D

franklee

Running_Horse wrote: »

This is what I think of that:

http://forums.moneysavingexpert.com/showthread.html?t=577151

This is an article about what's happening to mortgages so is relevant to this forum.

No where does it mention "crash". Lending criteria are being tightened regardless of house price falls so that some borrowers will not qualify for new fixed or discount rate deals and so will languish on their current lenders standard variable rate.

Any effect this may have on house prices had not been commented upon when you complained. The fact that you conclude it's about a crash is your own reasoning not the OP's so you've little right to raise the spectre of the crash yourself and then try to shut down the thread by branding it a "crash thread". (Why so bothered anyway, are you running horse or running scared?)

Such censorship is going to make Martin a laughing stock if mortgages can't be discussed at this important time just as we are feeling the effects of the capital markets closing because of the problems in the US subprime market and the Northern Rock bank run. What kind of consumer financial campaigner would that make him?