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  1. If A quick way around it for the banks is to introduce monthly fees on accounts to make up the difference. It's already happening in Switzerland.
  2. I have no evidence but I suspect MMR will be contributing to the very low level of transactions we are currently seeing, particularly with properties priced above MMR mortgages that can be sustained by local wages.
  3. Fantastic tool and for several years I've been seeing the same in the areas I follow in the North West and North East. Yet another month with a paltry number of transactions and hardly anything selling above £150k which is understandable taking wages in these areas into account. Most property listed for sale (but not selling) is on for 200k+
  4. Since that didn't work... From @gompertz BBC Council of Mortgage Lenders says 3% test risks undermining smooth running of housing market Mortgage lenders asking for Bank of England to relax test that applicants could cope with 3% hike in interest rates
  5. <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Mortgage lenders asking for Bank of England to relax test that applicants could cope with 3% hike in interest rates</p>&mdash; Simon Gompertz (@gompertz) <a href="https://twitter.com/gompertz/status/855394782323109888">April 21, 2017</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Council of Mortgage Lenders says 3% test risks undermining smooth running of housing market</p>&mdash; Simon Gompertz (@gompertz) <a href="https://twitter.com/gompertz/status/855394990226321409">April 21, 2017</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> While we're all distracted by the election let's find a way to keep the bubble inflating away.
  6. £100k drop (25%) in 6 months. http://www.rightmove.co.uk/property-for-sale/property-40026201.html Money pit in an area with low wages & little employment.
  7. North of the Border they're quite keen as well http://www.kirkintilloch-herald.co.uk/news/local-headlines/desperate-house-hunters-camp-out-to-secure-home-in-lenzie-school-area-1-4231269
  8. Brutal indeed. Received wisdom, from agents desperate to sell, is that there is hardly any stock on the market. In my local postcode (NE England) over the past 2 years there were approximately 370 properties listed, about 20 per month selling (between 4 local agents). Mostly ridiculous asking prices vs local wages.
  9. I've had 2 recent experiences of this with 2 different local agents. First house on reduced from £199k to £189k. Phoned up. It's under offer at £183k. Will you offer more? No I wouldn't. Landreg data a few months later shows it sold for £174k. A couple of months later another local agent listed a house about 40k cheaper than the usual asking price for similar properties. Phoned the day it appeared on Rightmove - the first viewer had allegedly made an offer that had been accepted. Live in a small town - I'm guessing that both deals (especially the 2nd) involved a mixture of doing a friend/business associate a favour and getting a deal done asap when the usual time to sell round these parts can be over 1 year - normally this long because asking prices are optimistic.
  10. This will be a future new build loser. The trend in apartments of having a combined living room/kitchen taken to new lengths in a 3 bed detached new build. And a 'drive though' rather than a garage. http://www.rightmove.co.uk/new-homes-for-sale/property-55849132.html Doubtless there will be queue of people being helped to buy desperate to buy.
  11. Fancy a 6 bed house with views of Holy Island with possible B&B use? The owners who bought for 382K in 2005 might advise against... http://www.rightmove.co.uk/property-for-sale/property-54715810.html
  12. Head of Harris Academy chain (named after Conservative donor Lord Harris) says.. http://www.theguardian.com/education/2016/apr/16/teacher-shortages-of-greater-concern-than-full-scale-academisation?CMP=twt_a-education_b-gdnedu
  13. The always entertaining Jerry Hayes has a view about why the press is gunning for Cameron. http://jerryhayes.co.uk/posts/2016/04/10/camhaven-is-just-an-excuse-for-the-brextards-to-twist-the-knife-cheered-on-by-the-tax-havened-press
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