Thursday, Mar 19, 2009
Responsible lending should soon ensure FTB's will be able to get on the ladder
The Move Channel: FTB's Still Floundering
When will people realise that soon FTB's will be able to get on the ladder easily, easily that is if they ever thought they would be able to afford an average house at current prices because obviously those prices are going to have to fall with regulated mortgage lending here to stay. That is as long as FTB's don't think "I will have to rush out and buy now before regulation comes in and I wont be able to afford to buy" . How CRAZY is this, if they wait they will get at least 40% off or more, after all Lord Turner said if property prices start to inflate we will regulate at 3x's or even 2.5, if nobody could afford a property now at sensilbe lending then if Lord Turner did not expect prices to fall 40 - 50% why would he have said we will regulate at 3 or 2.5 if property prices rise?
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Imminent_plunge said...
It's because lenders are being 'overly prudent' apparently.
2. crunchy said...
"House prices are still falling, with latest predictions saying that property values may drop a further 55 per cent.... Although there are bargains to be had,..... it seems that people are too fearful over their current employment situation."
crunchy- Can anyone spot the deliberate flaw? First Time Buyer's Floundering? LOL I think it is all crystal clear!
3. Nomad said...
I've been renting in North Devon for twelve months now and we have moved on to our second property. When we moved in March 08 we had a difficult chain to escape from and there were desperately few 3-bed properties available although we were looking over the whole Mid to North Devon aream nice houses were being snapped up within a week. In the end we rented unseen and only by paying six months up front.
12 months on and we can pick our area, any town and village in a 30 mile radius, and have a great selection of properties at ever reducing prices. These must be the houses that are not selling being transferred to the rental market as opposed to the sellers facing a price drop. I'm surprised that their are so many with the owners having somewhere else to live. Does anyone know what percentage of our housing stock are second homes or BTL.
Will the HPC occur when interest rates follow inflation in an upwards direction making life impossible for any kind of second mortgagee?
I've already taken on board the principle piece of advice that screams out from the majority of your postings. "Sit tight!".
4. Neil B said...
"I will have to rush out and buy now before regulation comes in and I wont be able to afford to buy"
...... Too late - its happened already - Go try and get a mortgage from any lender at more than 4 x salary and less than 10% deposit
5. mander said...
Let not ignore the source of the article www.hotproperty.co.uk, There is potential