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No One

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  1. 14 hours ago, TheCountOfNowhere said:

    Hardly a collapse, yet... 



    'London flats get £21,064 cheaper as prices in the capital collapse' 

    Are they trying to set a narrative of... Prices now cheaper....ie... We're already cheap... And/or.... Oh no, prices are collapsing we need more 'help' 


    My headline is as misleading as theirs :lol:

    When prices go down by 21.064 in the Midlands that's when I'll pay attention ;p.



    either way, hpc news is good news

  2. 4 minutes ago, TheCountOfNowhere said:

    Who gives a #### about mse etc... This is about our own futures and that of out children, wealth preservation, a better deal. They've made their choice, they should be happy being right and rich.... 




    We've warned them, they mocked us, then the banks collapsed, they threatened us because they were losing... Then they were saved and how they mocked us again and still we warned of the lunacy and why would happen. 


    Forget mse... Position yourself to profit from the shysters misfortune. He who laughs last....

    Count can you brief me about the deep lore of MSEvsHPC?

  3. 1 hour ago, LetsBuild said:

    Without doubt, everything is crashing. Cinema takings, music sales, cars sales, general retail - it’s all down massively and globally. Not to mention the redundancies I’m seeing everywhere, Rolls-Royce, Jaguar, Deutsche Bank. I think we will be seeing some major fireworks come September/October this year when the masters of the universe return from their summer holidays. Then we have total political upheaval and Brexit yet to deal with never-mind the global slowdown and trade wars. Our political elite have just about kicked this can as far as it can go - reality is about to hit.

    Daimler/Ford/VAG (slovakia)/JCB etc

  4. On 05/07/2019 at 10:32, Riedquat said:

    The number gets thrown around with significant differences depending upon how much of an agenda is being considered, but 10% is a hell of a lot. I'm always left shaking my head in despair whenever someone says "only" 10%. Try looking at a screen where "only" 10% of the pixels don't work.

    10% including railways roads and factories/industry is not a lot.

    17 hours ago, Riedquat said:

    Which, if it is 10% (as I say different numbers get flung around all the time) illustrates that that number is actually a lot. What level of development starts getting unpleasant isn't something that you can determine objectively, you need to ask people if it is or isn't then compare that against the numbers.

    Ever flown over the UK, coming in to land on a clear day? It's all green.

    The green belt is a policy created after ww2 to prevent the money leaving the cities for the suburbs as a lot of landed gentry would loose money from that. 

    You are defending a policy whose cover is that its pro environment, whilst in reality its a con to restrict supply for the benefit of the few. 

    To understand how this country works, and why housing is expensive, watch this documentary:


    The main conduit of this economy as statedin the video, is housing. If more housing was allowed, the assets that already exist would go wdown.


  5. 13 hours ago, APerson said:

    I'm not a communist, but as a political junkie addicted to takes from accross the spectrum I try to keep an eye on the corbynistas are thinking regarding housing.

    Listened to Novara Media's podcast on the way to work today.

    • They are afraid to unravel BTL and the housing market at speed as they fear a crash in the market would 'impact the poorest first' and would be politically disastrous for Labour.


    Even the left has its cucks

  6. On 23/04/2019 at 18:59, Riedquat said:

    That's the crux of it. It's quite possible that those farmers are tenant farmers of big landlords but even if they weren't you'd still have a large percentage of land owned by a small percentage of the population. Most of us simply have no use for much land.

    Yup, just for living in it. 


    I remember that I read that only 10% of the land has stuff built on, including roads and factories

  7. Quote

    In Brexit Britain, battling home lenders chase risk and pensioners

    tl;dr: Banks and Building Societies are shifting their lending to OAP's as they are the only ones with assets the bank can go for in case of default. 


    In the past year, the lender has started offering more high risk loans, targeted borrowers in their 70s and 80s and launched an interest-only mortgage aimed at retirees that lasts up to 55 years — the principal is repaid when the borrower dies or moves into a nursing home.

    So their children and grandchildren can get fkd out of an inheritance. Not only have they been priced out of the market due to a Bank-led HPI bubble, now the only chance for my generation to own via inheritance is being attacked by these money lenders.



    The Hanley is one of just 43 building societies left from the hundreds that sprung up in Britain in the late 18th century. Community-focused and customer-owned, they are lenders with a traditionally conservative approach and account for around 23 percent of mortgage lending in the UK.

    Across Britain, smaller players in the £1.4 trillion mortgage market — building societies among them — are seeking out niche segments and taking on more risk as they try to compete in a price war with the biggest banks.

    A post-financial crisis housing market boom along with record employment levels have so far kept default rates at decade lows.

    The fierce competition on price may be good for consumers, but if Britain’s exit from the European Union leads to a dramatic slump, analysts and consumer experts warn that debts and loan losses could overwhelm some borrowers and lenders.

    “The increase in mortgages available for older borrowers has been a positive development, but some of these products have not been tested in a severe downturn,” said Gareth Shaw, personal finance expert at consumer advice firm Which?.

    Unlike the United States, where banks have pulled back from the mortgage market in the wake of the financial crisis, Britain’s largest lenders have maintained a steady grip.

    Regulations introduced in January have also had the unintended consequence of strengthening the hands of the big five banks— Lloyds Banking Group (LLOY.L), Santander (SAN.MC), Royal Bank of Scotland (RBS.L), Barclays (BARC.L) and HSBC (HSBA.L).


    Along with Nationwide Building Society, the No 2 mortgage provider which has made a push into lending to older customers, those six lenders have held 70 percent of the market since 2009, according to data from UK Finance.

    Nationwide said lending to older people had great potential.

    “Later life lending is a fast growing sector which, given UK demographic trends, we believe has the potential to grow into a material part of the market,” said Henry Jordan, Nationwide’s Director of Mortgages.

    Forced to separate their retail divisions from their riskier investment banking operations, large banks have been left with little choice but to push deeper into mortgages to earn a return on the pools of customer deposits ringfenced by the split.

    The increased competition has cut prices on mortgages, particularly riskier products with a high loan to value ratio (LTV) — the higher the loan to value ratio, the greater the risk of default if house prices fall.

    “In competition terms it’s predatory pricing. The use of a scale advantage to disadvantage competitors,” said Ian Smith, chief financial officer of mid-sized lender Clydesdale Bank (CYBG) (CYBGC.L).

    A HSBC spokesman said the bank’s strategy to expand in British home loans had been set in 2015, adding its strategy “remains positive for consumers”. Santander said it was focussed on “sustainable growth” and had a conservative approach to risk.

    Barclays, Lloyds and RBS declined to comment.

    Britain’s central bank has acknowledged that the regulations separating the big banks’ retail and investment banking operations were partly to blame for the price war, but said the effects were ‘manageable’ for now.

    The price of the average two-year fixed rate 95% LTV mortgage has fallen to 3.25% from over 5% in the last five years, while the number of such products has doubled to 146

    With a LTV of 95 percent, the borrower is in the red if house prices fall more than 5 percent and they haven’t paid off any of the principal.

    Sam Woods, deputy governor at the Bank of England, told an industry meeting in May that the central bank was watching the build-up of risk in the mortgage market “like a hawk”, particularly the activities of building societies.

    The Bank of England sent a letter to the chief executives of 20 unnamed fast-growing lenders on June 12, warning that some are underestimating potential losses from higher-risk loans. Some of these firms, launched after the 2008 financial crisis, have yet to experience an economic downturn.


    Founded in 1854, Hanley Economic has survived shocks to the coal mines, steel works and ceramics factories of Stoke, known locally as the Potteries because the UK pottery industry is based there.

    The twin forces of competition and Brexit, however, have impacted the lender. Despite voting by nearly 70 percent in favour of leaving the EU, earning Stoke the nickname Britain’s ‘Brexit capital’, uncertainty over when and how the UK will depart has prompted some locals to delay buying a house.

    Rather than engage in a price war with bigger rivals to win more business, Hanley Economic decided to specialise. Its older customer base — the average age of its borrowers is 51 — seemed a natural focus.

    “We have adapted our strategy by looking into more niche areas of lending, we don’t want to wind up competing in a race to the bottom on pricing,” David Lownds, head of marketing and business development, said in an interview at the lender’s headquarters in a business park on the edge of Stoke.

    Rivals are making similar moves.

    There were 1,074 mortgage products on offer in Britain in June for people whose age when the loan matured was 80-84 years, compared with none in February 2014, when the dataset started, according to price comparison website Moneyfacts.

    Home loans with a maximum age at the end of the term of over 85 years have similarly spiked from 33 to 239 products available in the same period.


    Slideshow (9 Images)

    The retirement interest-only mortgage (RIO) offered by Hanley Economic is aimed at older borrowers struggling to get a standard mortgage or to repay existing interest-only loans.

    Customers only have to prove they can afford the monthly interest payments rather than the tough checks on income demanded by more traditional home loans.

    The RIO product offers a useful alternative to more commonly used equity-release mortgages, Shaw, the consumer finance expert, said. But both are expensive and there are concerns some mortgage advisers may not be fully explaining the alternatives.

    “If older customers are looking to fund an extension to their house or go on a cruise, they might just be better off with a credit card or a loan,” he said.

    To mitigate the risks of its push into high-LTV loans, retirement mortgages and other products, Hanley Economic has taken out insurance on 80%-plus LTV loans and maintained high core capital levels of 17 percent, Lownds said.

    “We’ve managed a decade of low margins, and we’ve not much direct exposure to Brexit,” he said.

    The risk is that house prices, which have risen 45% on average nationally over the past decade, and 30% in Stoke in that period, drop sharply if Britain leaves the EU on Oct 31 without a divorce deal.

    Some lenders have crunched the numbers and decided to retreat, including Tesco Bank - which has put its 3.7 billion pound mortgage book up for sale - and SecureTrust Bank which stopped writing new mortgage business.

    Both firms said they were withdrawing due to competitive pressures.

    Credit rating agency Fitch warned more lenders would likely follow Tesco Bank’s lead and quit the market, or increase their risk exposure.

    The credit agency singled out Coventry Building Society as one lender that had upped its risk profile through higher LTV lending and an increased exposure to interest-only mortgages on rental properties, downgrading it as a result.


    The building society said it was disappointed by Fitch’s action.

    “We’re financially very strong and secure, with the highest risk-based capital of the UK’s top 20 lenders and loan impairments that are not only amongst the lowest in the industry but continue to get lower,” Coventry said in a statement.

    CYBG told investors it would not join the mortgages arms race but prioritise growth in business and unsecured lending.

    It raised the pricing of its home loans this year and is committing only to holding its market share at around 4%.

    “Customers are getting a great deal,” said Smith. “But someone has to question whether really cheap mortgages are the be all and end all of competition in banking.”

    vultures, I hope they crash

  8. On 17/04/2019 at 12:36, hotblack42 said:

    My wife would like to do work like this to turn a profit slowly:
    Image result for flipping before and after
    Is that OK or do you think we need to shift entirely to property being handled as a basic need with the profit element taken out? (Genuine question)

    shift entirely to property being handled as a basic need with the profit element taken out

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