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House Price Crash Forum


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About Spoony

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  1. As the topic says it does seem very quiet on here, has the HTB and positive spin of the last few days effected any?
  2. Indeed but I don't think this will be widely accepted for at least another 100 years, when people look back and see what madness the period 1997- 2013+ was
  3. I don't know what's going to happen but I know what Osborne and Carney hope will happen: The UK will feed off from a recovery in the USA and Europe, tax receipts will rise enabling a gov debt reduction. GDP will rise, house prices will rise, all industries which are involved in the housing market will do well again contributing to a rise in GDP and everything will magically work out along with their re-election. Maybe some more inflation to reduce the gov debt and consumer debt. Sound right? And will it happen?
  4. Yes I noticed all media news today could not cover this story without mentioning that the unemployment rate is still above the 7% target so interest rates will not go up!! Why is this ?
  5. This HTB scheme is todays MIRAS replacement really if you think about it. If they bring in MIRAS on top of this then this must be the most rigged government interfered housing market in the world. There seems to be no lengths they won't go to to prop up prices. It has to be because all the MP's and local government have 2 or 3 + houses and are in BTL up to their necks. In 1990 the BTL mortgage wasn't around and people had more morals, so a crash was allowed.
  6. I share your sentiment but as some have pointed out on here, all that may happen is that when prices do crash again they will only crash to the 2013 prices we have today, so no gain - not the 2003 levels that they should be and we all want.
  7. Not as VI as we thought. Blimey! So Paxman has a beard and has gone grey. When did that happen?
  8. OK only 18 properties on help to buy in Buckinghamshire linked in from the official HTB website. The rest are shared ownership with service charges. Take this one..... http://www.catalysthomebuy.co.uk/homeseekers/property/3029 Bedroom Detached House in The Steeples, Aylesbury Vale Scheme Help to Buy Available Thursday 11th April Full Market Value £314,995.00 Plot 66 - Cornell The Steeples Description A lovely light entrance hall leads you to a wide lounge with an elegant bay window, or to the downstairs cloakroom. The spacious kitchen family dining room has a separate utility, a glazed bay and french doors to the garden. On the first floor, you'll find 4 bedrooms; a master with en suite, 2 double rooms, a family bathroom and a single bedroom that could be used as a study. Property Cost Scheme: Help to Buy Full market property value £314,995.00 Initial share in the property 80% Value of Equity Loan £62,999.00 Likely required deposit £15,749.75 Initial proportion of the property funded with mortgage and deposit £251,996.00 Monthly Costs Service Charge £0.00 Address Plot 66 - Cornell The Steeples Calvert Green Buckinghamshire MK18 3FS "Equity loan fees You won’t be charged loan fees for the first 5 years of owning your home. In the 6th year, you’ll be charged a fee of 1.75% of the loan’s value. After this, the fee will increase every year. The increase is worked out by using the Retail Prices Index plus 1%. Your Help to Buy agent will contact you before the fees start, to set up monthly payments with your bank. You’ll also be sent a statement about your loan each year. Fees don’t count towards paying back the equity loan." So 5 years on from starting to pay a fee you will be paying nearly 2.25% on this loan (assuming rpi +1% and that rpi stays at 4%) - £1411ish a year, not much really, but a £250K mortgage on top?! When rates go normal....
  9. Patience... I have had 10 years of patience. I don't have another 7 years+ I am seriously quite worried about what to do now
  10. Was thinking the same thing, or maybe god forbid..... join the party and buy in the UK hopefully with HTB (if I am eligible?)
  11. Markyh, amazing story. Some here would say you were too kind to this guy to help him out. So effectively the government are, instead of building new council houses, buying shares in the existing housing stock. I wonder how these figures put in through HTB compare with the value of council houses built to date which are still owned?
  12. Nice but no privacy. Anyway slightly back to the topic in a way that I seem to do all the time...... I was talking to my hairdresser the other day, she was saying how she lives with her parents again and she needs to get on the ladder...but its so expensive. "I need to find a rich bloke" she says. Not what I wanted to hear. I was thinking of asking her out next time. I hope the rich bloke for a house was just a comment in passing. This girl is 24
  13. Last night the thought of actually joining in with the ponzi crossed my mind. My theory was that the HTB etc will continue for the next 3 years at least, maybe I should buy with the HTB free loan, then sell it in 3 or 4 years time, before the crash starts. Are you allowed savings to take up the HTB?
  14. Yes that would be right. +2
  15. They probably will keep 'help to buy' going until the housing market tanks and 'buying a house' will once again become dirty words. Then nobody will be touching it with a bargepole and it will make no difference if they cancel it or not. How many years until then though who knows.
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