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Tulip_mania

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  1. In many ways it favours established stores, I know what size I am in Next so can order online accordingly. With a new brand I'd be less confident.
  2. Why would any surveyor have been furloughed since the start of July?
  3. High interest and inflation made the first few years of a mortgage pretty dicey, but after 5 years, your salary would have gone up sufficiently that the mortgage payment reduced as a % of it, so variations were less of a concern. Now, in a low (everything but houses) inflation environment, wages increase much more slowly, so if you sign up to pay 25% of your salary in mortgage payments, that number isn't changing much over the course of the mortgage.
  4. It's fairly inevitable, and in many ways better than fuel duty. Currently tax on petrol/diesel works out at something in the region of 10p/mile, depending on your car and driving style. With electric cars there will be a very small amount of 5%VAT on domestic electricity, but nothing of note revenue wise. Fuel duty costs you the same whether driving round the Highlands at night or London at rush hour. Road pricing could make the Highlands, West Wales and Northumberland (certainly outwith summer) cheap or even free, but charge £1.50/mile in Central London at rush hour.
  5. Nationwide is post survey approved mortgages, so yes, with the current backlog, it's most likely offers agreed in August and September, in these numbers. Though there are probably enough in the system to pad the November numbers as well, though the quality of borrower may be going down as the safer ones probably went through quicker.
  6. The rates are nothing that special, 85% LTV at 2.99% + £995 fee. Halifax have a lower rate (with a big fee) TSB are on the same rate + fee, First Trust seem to be the cheap outlier. Though I'm less concerned about borrowing from a bankrupt bank or building society, than saving with one.
  7. Cumulative looks like its down about 125,000 on for the year, there was a slight increase happening Jan-Feb, then 145,000 decrease March-June, July was normal level, August was up 20,000. Can the Banks issue many more mortgages or will they need to be running at 84000 for 6 months to make up the gap.
  8. They must have a fair bit of equity in the first house if they can support a mortgage on that and on the new, presumably more expensive purchase. e.g. even if you have 50% equity in a £200,000 house and want to buy a £300,000 house. If you sell the first, then you have 33% equity and a £200,000 mortgage If you keep the first as well, then you have 20% equity and a £400,000 mortgage.
  9. So are the 'second steppers' selling their flats or small houses to FTBs or BTLs?
  10. Absolute, it's like buying council houses, a stupid idea in the greater scheme of things, but a no brainer for the tenants to do so when presented with the opportunity.
  11. I just checked. Halifax index is mortgage applications, so may show things which get revalued, or never happen. Nationwide is post survey approvals, better but could still fail if part of the chain is up. Land Registry is actual sales, July set out today, 0.5%MoM, 2.3% YoY.
  12. What do they mean by this, if it's HTB, perhaps with the new rules on regional price caps and FTB only which come in next year, but available on existing property, quite possibly. The long term bit would presumably require the government to lend to banks at fixed rates over an equally long period.
  13. Are interest rates on bank accounts any better in Europe, America, Australia or Japan? I'm not sure Brown was quite as omnipotent as you believe. Doesn't stop make the situation better, but it's something which started manifesting itself in his time, the roots were set in the 80s though. Even in 2012 I had an instant access ISA from the Nationwide which paid 4.25%, things were actually going in a reasonable direction 2010-2014, house prices were flat, so eroding in real terms, but then another wall of cash was thrown at them.
  14. Interesting stat from Bank of England data. Actual amount lent for mortgages (i.e. for completed transactions) was £3.1 Billion in August, average for the 6 months to Feb was £4.2 Billion. Now obviously August transactions were probably 'offers' in June or even before lockdown, worth keeping an eye on that number to see if it reaches or exceeds the pre-covid level over the next few months.
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