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Making tea. Absolute 80s on. There's a new FCA advert - Can you afford your mortgage????? There's new lending rules coming in end of this month. Don't forget about council tax etc etc etc. Makes a change after listening to countless 'Your money is safe with the FCA looking on'. http://www.fca.org.uk/consumers/financial-services-products/mortgages/mortgage-market-review 'In the past, some people were allowed to take out a mortgage they could not afford. This led to some of them falling behind with their payments or losing their home.' You don't say . . . Here's the rules: http://www.fca.org.uk/consumers/financial-services-products/mortgages/mortgage-market-review/affording-a-mortgage Christ. Nevermind whether you can afford the mortgage or not, just filling in the form will kill the market. I call Pop! end of this week, 26th April, when these rules come in.
Two of our favourite pundits (Boulger and Bien) discussing MMR this lunchtime (http://www.bbc.co.uk/programmes/b041469n) Can't help wondering if Melanie forgot her lines when Paul Lewis turned the topic to house prices (at 10 mins 20 sec). Went something like this: PL: House prices: Is there a bubble as we've heard this week? MB: We- well I'm not convinced ... I mean the market is crazy in places like London... PL: That sounds like a bubble to me MB: Well, but ... b ... it's ... they're very abnormal ... um ... the ... er ... situation. You've got very few transactions which are pushing up prices but it's not widespread across the country and indeed prices are ... sort of ... the growth at the top end of the market is now tailing off so I'm not convinced. ------ The most telling thing for me is she didn't just say "No there is not a bubble".