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Working tax credits are a subsidy for business http://www.scriptonitedaily.com/2013/04/08/scroungers-how-much-does-the-corporate-welfare-state-cost-the-tax-payer/ While I would love us to borrow less, I'd also love us to stop handing out cash to businesses first and foremost. The amount of profit we are guaranteeing to the Hinkley B set of nuclear power companies is obscene, for an aging tech with high risks and on going costs. This is even more upsetting to me, than handouts to those working. But I whole heartedly agree with the need to borrow far far less, and get people into jobs that can pay their bills.

Also, that is assuming single income. The doctors I know married other doctors. Then bankers etc, well they don't need a partner that contributes to the mortgage. . .

Yeah, mortgages are changing - even before brexit we were looking to leave London late last year, and found getting a mortgage on our new house hard as my job was in London. In the end I got a comfort letter from work stating that I could do 2 days a week from home and that they were aware I was relocating. Had to go with a second choice lender to get this, the people we wanted to go with (better rates) wouldn't except anything other than 100% remote work or a local job. In the end I got a job here on pretty much the same money, but it took me longer than planned, so factor that in. We were pushed for time for a few reasons, so couldn't just wait to get a job first. Likely talk to a broker or direct to a mortgage provider and explain your plans, switching from OO or BTL might incur costs. Is there really a rush to buy in the area you are looking at?

Will they though? I've lived in blocks of flats in the past, and sometimes it's OK - but as soon as we could rent a house we did (then bought a flat in a house - but still). Yes those that want to living in city centres will move towards new builds for sure, but there will always be a desire to live in a house (whether rented or bought), Or do you believe that only home owners are allowed to live in houses? I'm (very) happy to be a owner now, but there was a chunk of my life when renting was the best option for me.

Depends what you like - we've just left London for North Norfolk - for far far less than a small 2 bed in East London, you get a great 4 bed house, with 2 car parking, nicely in town, 5 min walk to train and 2 mins to the sea. My garden is pretty small though, but close to lots of green space, and could make garden bigger if I knocked down the massive 4m by 8m brick built shed. £300k which we thought was pretty good, though likely we over paid as we loved the finish, the location and we had a limited time period to move. Room to add at least 2 more big rooms in attic if we ever need to. In the town we've also seen 4 bed (box rooms and attic already converted) for less than £170k - in need of likely 10k to 30k depending on finish. Plenty of tech jobs in Norwich and the area - Cambridge etc, But then again I know many of my friends wouldn't want to live in such a small quiet town, or in Norfolk at all

Argh, didn't hold the formatting but link is here: http://www.bbc.co.uk/news/business-36537906 (how do you edit posts on this site?)

Tired to post this as a new topic, but as I'm new it's off for moderation. What do you think about this from the BBC - doesn't show drops just a slowing of increases: The International Monetary Fund (IMF) has warned that Brexit could cause a sharp drop in house prices. This was on the expectation that the cost of mortgages would rise. The Treasury has said house prices could be hit by between 10% and 18% over the next two years, compared to where they otherwise would have been. This would be good news for first-time buyers, but not so great for existing homeowners. The National Association of Estate Agents (NAEA) believes house prices in London could see the biggest change, losing up to £7,500 on average over the next three years, compared to where they otherwise would have been. Elsewhere, it said values could fall by £2,300. But since it expects prices to continue rising anyway, this means a slower rate of increase, rather than a fall in real values (see table below). And again, if the Bank of England were forced to cut rates, all these projections would be wrong. How might the EU exit affect average house prices? Year By leaving EU If UK had remained in EU 2016 £277,600 £278,500 2017 £288,900 £290,800 2018 £300,800 £303,000 London 2016 £533,700 £536,000 2017 £559,300 £564,500 2018 £591,700 £599,200 Source: NAEA/ARLA/CEBR

Hi - long time lurker, finally posted this morning. Interesting times ahead.

Hi, Lurker for a while, so excuse the newbiewness of my first post here. What do you this of this: http://www.bbc.co.uk/news/business-36537906 Quote: House pricesImage copyrightOCK The International Monetary Fund (IMF) has warned that Brexit could cause a sharp drop in house prices. This was on the expectation that the cost of mortgages would rise. The Treasury has said house prices could be hit by between 10% and 18% over the next two years, compared to where they otherwise would have been. This would be good news for first-time buyers, but not so great for existing homeowners. The National Association of Estate Agents (NAEA) believes house prices in London could see the biggest change, losing up to £7,500 on average over the next three years, compared to where they otherwise would have been. Elsewhere, it said values could fall by £2,300. But since it expects prices to continue rising anyway, this means a slower rate of increase, rather than a fall in real values (see table below). And again, if the Bank of England were forced to cut rates, all these projections would be wrong. How might the EU exit affect average house prices? Year By leaving EU If UK had remained in EU 2016 £277,600 £278,500 2017 £288,900 £290,800 2018 £300,800 £303,000 London 2016 £533,700 £536,000 2017 £559,300 £564,500 2018 £591,700 £599,200 Source: NAEA/ARLA/CEBR --- So while the increases aren't as fast as they have been, there is no description of a genuine drop (at least in these estimates). Do you think we are going to see a real terms decrease in prices, or just a slowdown? I guess for now it's all conjecture, but going to be an interesting few months.