coypondboy

This part of the housing market apparently is booming as buyers can only now afford a flat with many now bought by single owners Buyer beware as this is what could happen. https://www.dailymail.co.uk/property/article-12258623/Im-trapped-flat-cladding-face-9-34-mortgage-rate.html

This lady might have difficulty in August wonder how many others in the same boat lesson do not buy a leasehold flat https://www.dailymail.co.uk/property/article-12258623/Im-trapped-flat-cladding-face-9-34-mortgage-rate.html

hope you are right the tories deserve 10 yrs in the wilderness and BOJO will be in house of lords by then as will Kwarteng and Truss who all helped to create this mess I really fear for the youngsters who bought over past 5 yrs especially via help to buy and shared ownership having remembered the 90's housing crash where prices fell 40% think history about to repeat itself.

Call me a cynic but are the Tories electioneering again as they are doomed at next election so why not overtighten and totally screw the housing market/economy and leave a real mess for Labour to inherit (maybe Jeremey can leave a note in the treasury to say no more money) so get interest rates to 7% before the next election and continue to borrow 150-200 billion at these new rates before next election so Labour can't open the spending taps when they get into power. This guy seems to be of the same opinion, thoughts anyone

Things no going well, just think of those millions of people who would love to buy a house and start a family, a whole generation encouraged to go to university by Tony Blair, move to the big cities to get a job as a graduate and get on the property ladder as soon as you can as a one way bet by their parents and now facing bankruptcy/loss of career progression/starting a family.

Labour plan to build their own houses buying arable farm land at non planning permission prices and building on it and the cost saving allowing council rents of 40% of market rent to be achieved what a great idea will it work?

Speaking to several estate agts in our neck of the woods seems to becoming quite common and first indicator of further house price falls but tricky for those who have had offer accepted and seller not wiling to drop the price, what would you do?

oh dear now heading for 5%:

Sadly just one of millions caught up in the cladding crisis https://www.theguardian.com/money/2023/jul/05/help-to-buy-has-trapped-me-in-an-unsellable-cladded-flat

https://notayesmanseconomics.wordpress.com/2023/07/03/house-prices-in-australia-continue-to-rise-in-spite-of-higher-interest-rates/

2 yr heading for 5.5% that means 7% for mortgage holders looking like a disaster for the housing markets unless rates fall sharply before the next election (call mee a cinic but Sunak will be hoping for 2 yr fixed rate of 2% before he calls a general election.

Maybe they can expand to those with self cert mortgages or who bought a cladding infested brand new apartment using help to buy or shared ownership, come to think of it I need to be treated for not getting a job in the public sector with 12 mths full sick pay, defined benefit pension and job for life with early retirement for stress as my parents did at 53.

Bournemouth much nicer with cooler temperatures, lovely green gardens and sea lovely temperature, right I am off for a swim whilst I listen to the cricket on my bike whilst cycling through the gardens and no air conditioning to avoid sweating

no one will do this as they won't win an election

Yep Paris riots an early indicator of what happens with the mayor and his wife lucky to escape being burned alive by a howling mob. Segregation/racist Met police all the ingredients needed for a repeat of the 2011 London riots, glad I don't live there. Watching the cricket at Lords struggling to see any non-white people in the crowd as the elite of London enjoy their Sunday cricket having seen Sunak complain to the ECB of institutional racism on Friday, Wimbledon will be the same over the next 2 weeks.

Very interesting article in daily mail. The UK population grew from 1973 to 1998 by 2.5 million, whilst over the same period of 1998 to 2023 it has grown by 9.5 million what will it grow by in the next 25 yrs with estimates of 87 million assuming no reduction in the current rate and could be 100 million depending on how many kids the young immigrants not born in the UK have over this period. I do not even include illegal immigrants who could be anything from 3 to 10 million as no one knows but sheds in gardens in the South East a good indicator or 14 people living in a sub-let 2 bed flat with the council tenant sub-letting to illegal immigrants and probably on housing benefit himself and only discovered when 2 died in a fire (Sadly Grenfell fire had a similar issue and was actually caused by a drug dealer growing crystal meths/cannibas plants according to a friend who is a fire safety engineer and knows the full details which will never be disclosed by the left wing labour run London council. https://www.dailymail.co.uk/news/article-12254561/The-truth-immigration-simply-dont-room-inn-writes-LIONEL-SHRIVER.html

our biggest housing benefit landlord with 3000 properties lives in sandbanks, has he has decided to move to St Tropez?

sadly if you have a mortgage you have to pay back any help you get as a 2nd charge just imagine if those on housing benefit had to pay it back might encourage them to get a job with full time hrs

Thames water estimate the population of London is 2.5 million more than the latest census indicates based on all the shit being discharged into the sea suggests this is correct hence the sewers can not cope as no one knows how many people actually live here.

Daily telegraph today they must be trolling our site for ideas https://12ft.io/proxy?ref=&q=https://www.telegraph.co.uk/personal-banking/mortgages/parents-help-adult-children-pay-mortgage/

not those that used mortgage advisers who like to churn their clients every 2 yrs to get a new fee, FTB'ers particularly vulnerable will be interesting to see the justification on the suitability report as the claims companies look for PPI Mk 2

Holy crap 2 yr now over 5%

London flats will be hit the hardest as unaffordable service charges/rents/re-mortgage kill the btl and ftb/help to buy/shared ownership make re-mortgageing unviable. Many owned by overseas investors with overseas banks who will repossess quickly as not regulated in UK and they will chase the overseas investors for their own places back home in asia/europe. I expect auction houses to inundated over coming years.

Whilst Horatio and Mercedes stretched themselves to the limit to keep up with the jones and allow their social media feed to be full of nice holidays and the latest cars on the drive having enjoyed mortgage rates of 1% for the past 15 yrs I think the prospect of a fixed rate of 6% hasn't sunck in yet. Luckily they have parents and grandparents to bail them out unlike the poor immigrants who arrived with zilch over the past 15 yrs to work in the NHS and other public services, who will they turn to?

Tragic really and if we see a large rise in unemployment no help from universal credit if one of you still works more than 16 hrs and any help has to be paid back. Sadly without govt intervention we will be seeing a huge wave of help to buy/ shared equity flats hitting the auction sites over next few years but there will be some bargains for those looking to downsize or get on the ladder just as there was in 90-94.