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Posts posted by stuckinlimbo
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12 minutes ago, Stewy said:
The later they cut, the more they'll have to cut. Pick your poison... ✓
Doesn’t mean much for people having to remortgage right now
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2 hours ago, cdd said:
Why 99% mortgage though? Why not 95% like before, or why not 100%, like before?
There's your house, no deposit required. What could go wrong?
You might as well go up to 100% and give us social housing
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Living in social housing as an MP doesn't mean that you should not be able to criticise the government for not having any solutions to the housing crisis. I think an MP who lives in social housing has a better idea of what their constituents need than an out of touch MP who has never set foot in a council estate.
Let's be honest here, this is about silencing an MP who brought up housing issues by smearing them as a socialist.
If there are 23,300 people waiting for housing, the question should be why the government not giving the other 23,300 somewhere to live.
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Im seeing a lot of "old friends" as well, unfortunately at the same prices as they were first listed in outer south london
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2 hours ago, Dweller said:
And then there is the fact that the UK still hasn't implemented a full border have they (?) BECAUSE of the inflationary effect of this eventually I suppose it is going to have to happen?
I bet they are leaving that for Labour to implement
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I think it’s the inflationary effect of election tax cuts that Bailey is afraid of, he won’t want a repeat of Truss
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For some context:
Quotethe MPC voted by a majority of 6–3 to maintain Bank Rate at 5.25%. Three members preferred to increase Bank Rate by 0.25 percentage points, to 5.5%
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Ive seen quite a few properties come on the market for a bit then go off Rightmove again after a while without having STCd
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I think quite generally, people have come round to acknowledging that prices may have softened. In practice, we are seeing in place like the data from Zoopla today that sellers are accepting lower offers. The general population is generally quite oblivious when it comes to house prices, they generally take the word of whatever a VI had said to ramp up prices when they were buying or whatever they hear on property shows on the TV. They live in the belief (hope really) that their property is their pension, it is generally the only asset of value that they will own in their lives.
Speak to people outside HPC and you will notice that it is quite hard for them to hold the thought that prices could fall in their head.... its like telling someone the world is spherical for the first time. Moving Home With Charlie has chronicled how we have had a year of the media denying that prices were falling, and suddenly notice how the narrative has shifted towards the case of prices falling as something that has ended, and is now about to go back to growth as interest rates are no longer going up.
The BoE predicted that it takes about a year and half for interest rates to take effect, so I expect the 'prices falling had ended' narrative being replaced by the 💎🤲 Diamond Hands... HODL .... 'they are going to the moon' narrative for the next six months.
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Thanks @Dyson Fury, I think we should be more politically active like you have been on this forum to bring about a more just system of housing in this country. Thank you for taking the effort.
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1 hour ago, PeanutButter said:
Let’s wait and see how this one pans out.
https://www.mumsnet.com/talk/property/4940041-no-one-interested-in-our-house-overpriced
Love this comment on that thread:
QuoteI think it looks a bit odd to be dropping the price so soon, and it would make me think if I was stalking new listings in the area that you’d had zero interest and believed you’d massively overpriced it so dropped immediately.
I think there’s something about holding steady, looking confident, and giving the impression that you believe you’re worth what you’re asking. -
I’m guessing JP Morgan is not exposed to mortgages as much as NatWest is.
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Quote
NatWest has downgraded its profitability outlook and warned that competition for savers’ cash is putting pressure on its finances, sending its shares plunging.
Investors were spooked by a predicted drop in the bank’s net interest margin (NIM), which accounts for the difference between what is charged for mortgages and paid on savings and is a key measure of banks’ profitability.
NatWest said it was having to make larger payouts to savers who had been shifting cash from current accounts, into fixed-term savings accounts that offer higher interest rates. That trend had been compounded by a simultaneous easing of mortgage rates, which have been cut in order to promote mortgage take-up among borrowers who have been put off by higher costs.
Looks like even the banks were hoping that interest rates would be on their way down, but the reality is finally catching up with their share prices.
You can either compete for savings or offer mortgages at low rates, not both.
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Just now, NoHPCinTheUK said:
The bill did not get enough votes?
No, it’s being delayed for changes to the courts so that it’s easier to evict people first
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Looks like the bill didn’t make it through parliament
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6 minutes ago, scottbeard said:
Technically a quadruplicate then
I’m blaming Safari on iOS ☺️
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9 hours ago, dances with sheeple said:
"Faces", as if it is a bad thing, LOL. Did anyone see the panorama programme on mortgage debtors ("homeowners") last night? For them it is a bad thing, one couple even had to lower themselves to the wife going out and getting a job to pay the bills!
Gasp! Horror! The twin landlords that might have to work for another two years because they thought their BTLs were going to let the f*****s retire early.
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6 minutes ago, dances with sheeple said:
Mortgage borrowing is way down, these media pieces are just designed to scare people into mortgage debt.
🙌
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2 hours ago, winkie said:
Did he mention our housing crisis
No, and I’m quite happy there wasn’t any bungs for housing in his speech either… well except for the bit about new housing around Euston where HS2 should have went.
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Didn’t even realise this was out today, it’s usually front page news when it’s going up!
99% mortgage idea scrapped
in House prices and the economy
Posted
Honestly, I cannot believe those words came out of his mouth!