InlikeFlynn
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House Prices vs Salaries
InlikeFlynn replied to HPC Pollster's topic in House prices and the economy
dd -
HM House Price stats Jun 2019
InlikeFlynn replied to user not found's topic in House prices and the economy
This is good news - let's hope it continues and accelerates. -
Tiny sample size, therefore lots of statistical noise. These monthly figures are not significant, indeed the Halifax and Nationwide indices are deeply flawed. Try acadadata or the ONS for a more dependable view of the market.
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EA Just told me to wait to buy
InlikeFlynn replied to crazypabs's topic in House prices and the economy
Last proper crash was early 90s.... he would have been a teenager! -
Supersized mortgages are back
InlikeFlynn replied to Pebbles's topic in House prices and the economy
He will probably have a mortgage term of 35 years or more, to get the monthly payment down to comply with MMR rules. Welcome to the new "interest only".... -
Interest Hike Aug 2nd - Will They / Won't They?
InlikeFlynn replied to rantnrave's topic in House prices and the economy
Best news for years. Let's hope more rises follow later this year/early next. -
The Nationwide is an invalid and statistically noisy index.
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I used an online-only fixed fee agent when I sold my house 7 years ago. Worked like a charm. I took all the photos and wrote my own particulars etc. saved 6 grand, however a good agent would probably have got a bit more in the negotiations so it's swings and roundabouts.
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Thanks for this. Clearly lending for both moving and remortgaging is up. Bit of a downer for those of us hoping for a price drop. There's some really interesting data on average income multiples, LTV, affordability etc. on the UKFinance website, from which the article you cite is drawn. https://www.ukfinance.org.uk/winter-blues-beaten-by-best-february-for-homeowner-house-purchases-in-a-decade/
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Two quick facts for the record. 1. Martin Armstrong is a convicted criminal who has spent several years behind bars for conspiracy to commit fraud. He orchestrated a a $3 billion Ponzi scheme through his investment fund, Princeton Economics International. See here and here for details 2. The UK currently pays out only 6% of its tax receipts as debt interest. A large part of this comes straight back to the government as it holds a significant proportion of the public debt from its QE programme, therefore the true figure is even lower. source
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That's very true for most new landlords funding their "investments" with IO mortgages however there are also a lot of "accidental" landlords who have held on to and let their existing flat/house when buying their new home. I'm sure this is one of the main reasons for the lack of market supply. Many of these properties do not have much or any mortgage on them and will have generated a significant income over the years, which has often not been declared. Because these folk are often flying "under the radar" of the HMRC and their lenders, they may well not have configured their affairs in the most tax efficient way so there could be large tax bills to pay.