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House Price Crash Forum

Neil B

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About Neil B

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    HPC Regular
  1. I know plenty of Spanish & Italians living off benefits illegaly in the UK. They all have savings and a house 'back home' but its impossible for anyone in the UK to check this out. The benefits office workers rarely speak more than one language and have no idea how to trace things like home ownership or savings in a foregin country.
  2. Neil B

    The Expat Dream Killed Our Marriages

    If she lost 5 stone through stress how big was she whilst using the personal trainer??? Jees what was he training her to do eat croissants?
  3. Neil B

    Affordable Housing - What A Laugh!

    +1... and they fail to mention (choose to hide?) the fact that you have to pay a mortgage AND rent - it comes out at around the same monthly payments as a mortgage for the full price of the property. Except you have nothing to show for it as you have given a sizeable chunk of the capital investment to the housing association. Huge con.
  4. Neil B

    Uk Population Explosion?

    ... This is spot on
  5. Neil B

    Interest Only Mortgages

    They'll get help in the short term for sure, but who is going to hand them 250k to pay the capital at the end of the term?
  6. Neil B

    Interest Only Mortgages

    Thats not the point at all - if house prices only inflate by half as much then the 250k house will be valued at 375k, so the person buying it would need to be earning £100k a year...... I think not. Salaries are lower than they were 10 years ago. You are deluded if you think salaries are even going to double in 10 years.
  7. Neil B

    Interest Only Mortgages

    It is not like that anymore. Say goodbye to those mortgages they are not coming back.
  8. Neil B

    Interest Only Mortgages

    It doesnt make any difference - if you earn 25k / year you are not going to qualify for a 250k mortgage be it 100%, 90% or 80% LTV.
  9. Neil B

    Interest Only Mortgages

    Negative equity does not inflate house prices. To be honnest, the sooner that all of these IO mortgagees go into negative equity the better.
  10. Neil B

    Interest Only Mortgages

    There is nothing wrong with 100% mortgages. 100% mortgages do not push up house prices. It was high income multiples and IO mortgages that caused this mess.
  11. Neil B

    Interest Only Mortgages

    And here lies the real reason why we have rediculous house prices now: It's all of these people who wouldnt normaly be able to buy an expensive house having the oportunity to do it for the last 10 years. I suspect that it is these people that are also keeping the bubble inflated - they have to keep house prices rising or they will sink
  12. Peterborough has a huge problem with Czec immigrants - so much so that two local MPs wrote to the main parties asking them for help as the situation is now critical. Why cant all of these people be shipped over to Ireland? Doesnt Ireland have a favourable benefits system like the UK?
  13. Neil B

    Interest Only Mortgages

    ...and if we do have high inflation, like you say, high interest rates come with it - so the IO mortgagees will see their monthly payments rocket. Stupid silly people....
  14. Neil B

    Interest Only Mortgages

    Even if they sell at 200k (unlikely) then they still have to find 50k to give to the bank.... Im glad I dont have that kind of debt facing me in the future, especialy when I am at retirement age and wont be able to get a loan for that ammount. Im sorry to sound smug over this, but I think this is where the renters and the people who have repayment mortgages can sit back and say "I told you so...."
  15. Neil B

    Interest Only Mortgages

    There is no way that you will sell a 250k house for 500k. There are no sales anymore because people do not qualify for a mortgage to match the asking prices. What is going to change in 10 years time? All of our salaries are miraculously going to multiply by 20? I think not.
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