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The Pale Rider

New Labour New Deal

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Instead of bailing out the banks, bail out those with mortgages at BOE 1% rate. Thus recapitalising the banks with the subsequent repayment and giving the working man more disposable income because his new repayments have dropped dramatically. Plus ban banks from imposing early repayment penalties as good will for our help in refinancing them.

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1. Government remortgages any who wants it at BOE 1% rate

2. Banks are repaid and subsequently refinanced by those who take up this offer.

3. Families have more disposable income due to lower repayment rate.

4. Banks are banned from imposing early repayment fees because we helped them out.

5. Extra spending power stimulates the economy.

Is that too simple?

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I'd like to mortgage this twig hut in the forest for £1000,000 at 1% interest please.

What is money worth if everyone can have as much as they want?

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I'd like to mortgage this twig hut in the forest for £1000,000 at 1% interest please.

What is money worth if everyone can have as much as they want?

I was thinking of those with an oustanding mortgage. Not new lending which would only add to the debt pile.

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I was thinking of those with an oustanding mortgage. Not new lending which would only add to the debt pile.

So everyone that bought at an overpaid price should get a cheap mortgage, while those that waited and saved have to pay market rates?

To keep things simple, do you believe house prices are too high now, and do you think this would influence them?

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Guest sillybear2

To be honest they might as well just formally nationalise RBS, Lloyds/HBOS, stick a Band of England sign up above all their branches and run them as a public service lending directly from the government/tax payer at whatever terms the government deems commercial, i.e. gilt rate + risk spread. What's the point of keeping these banks quasi-public just so we can continue feeding the parasites in the middle? If we're going to lump all the risk on the tax payer, socialise the losses and chisel the next generation into penury in the process, we might as well socialise some of the few benefits, so future wage slaves have a home and get a good start in life.

Edited by sillybear2

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I'd like to mortgage this twig hut in the forest for £1000,000 at 1% interest please.

What is money worth if everyone can have as much as they want?

Seriously, taxpayers should benefit from the BOE rate not the baks who sell the 1% loan on to us at 4, 8 or 12% depending whether it is a mortgage, personal loan or credit card rate.

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To be honest they might as well just formally nationalise RBS, Lloyds/HBOS, stick a Band of England sign up above all their branches and run them as a public service lending directly from the government/tax payer at whatever terms the government deems commercial, i.e. gilt rate + risk spread. What's the point of keeping these banks quasi-public just so we can continue feeding the parasites in the middle?

But then the government would be competing with the (albeit few) Building Societies in the UK; not to mention HSBC and Barclays - and then there's the foreigners; Santander, Bank of Ireland . . . EU Anti-competitive law, anyone?

Incidentally, I'm all for it. Get councils to invest their money in this country as opposed to Icelandic hedge funds. Do some bloody research and work for a change.

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I'd like to mortgage this twig hut in the forest for £1000,000 at 1% interest please.

What is money worth if everyone can have as much as they want?

Not following your logic, there. You'd still need to get valuations on your properties, no matter who ran the system.

Besides, with your model over 25 years that's £28,000 you've paid in interest.

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So everyone that bought at an overpaid price should get a cheap mortgage, while those that waited and saved have to pay market rates?

To keep things simple, do you believe house prices are too high now, and do you think this would influence them?

House prices are too high. So leave new lending to the banks once their balance sheets are deemed to be sufficient. As for those who saved they will be penalised by the current situation.

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Guest sillybear2
Stiff taxpayers and savers in order to bail out imprudent borrowers, in other words.

Such philosophy would only work if most of your voters :-

1, work for the state

2, save nothing, but owe tens of thousands

3, recieve more in tax credits/benefits than is paid in

It would also be useful if savers and higher rate tax payers are very few in number compared to the above, and vote for someone else anyway.

Edited by sillybear2

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you can twiddle with the knobs as much as you like but it wont make 1 bit of difference...Economic systems work when you dont meddle too much, the more you meddle the less chance you have of surviving...

Edited by moosetea

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House prices are too high. So leave new lending to the banks once their balance sheets are deemed to be sufficient. As for those who saved they will be penalised by the current situation.

Thats what i wanted to hear.

If everyone is allowed to remortgage at 1%, then who on earth would ever sell, and who would ever drop their prices?

Prices need to drop, BTLs need to let go of their portfolios, interest rates need to rise.

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Such philosophy would only work if most of your voters :-

1, work for the state

2, save nothing, but owe tens of thousands

3, recieve more in tax credits/benefits than is paid in

It would also be useful if savers and higher rate tax payers are very few in number compared to the above, and vote for someone else anyway.

I would be one of those who would not benefit from the deal as I have no mortgage due to living in the same house for 20 years, but I would like to see a solution to this current situation which is to the working mans advantage .

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I would be one of those who would not benefit from the deal as I have no mortgage due to living in the same house for 20 years, but I would like to see a solution to this current situation which is to the working mans advantage .

Cripes.

If you combine 1% interest rates with the fact that houses are going to fall by 90% (Copyright HPC) you'll be able to live in the old average house of 180K for £15 a month soon.

I personally would live in a mansion that used to cost £3,600,000 at peak for £300 a month, but then I'm just like that.

Things are looking good...

Edited by ItsColdUpHere

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Thats what i wanted to hear.

If everyone is allowed to remortgage at 1%, then who on earth would ever sell, and who would ever drop their prices?

Prices need to drop, BTLs need to let go of their portfolios, interest rates need to rise.

Because the deal would be limited to existing mortgages for existing homes, no one would want to move so house prices would have to fall to make buying a new home or taking a new mortgage attractive. As far as BTLs limit them to the home they live in to take part.

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Guest sillybear2
I would be one of those who would not benefit from the deal as I have no mortgage due to living in the same house for 20 years, but I would like to see a solution to this current situation which is to the working mans advantage .

Good citizens MEW and spend, thus generating VAT returns, employment, economic growth, etc. You are a bad citizen and will be dealt with, your home will be assigned to a member of the inner-party or some Afghans.

Edited by sillybear2

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Guest sillybear2
I personally would live in a mansion that used to cost £3,600,000 at peak for £300 a month, but I'm then just like that.

Things are looking good...

Not that good, I can easily afford £600 a month so I'll outbid you, the home is now worth £7,200,000 and we're all rich. I will then sell it to somebody that can afford £1000/month, then buy another place with the profit, like a hyperinflated dog kennel.

Let's all pat ourselves on our back for working so hard and making so much money, then vote Labour.

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Because the deal would be limited to existing mortgages for existing homes, no one would want to move so house prices would have to fall to make buying a new home or taking a new mortgage attractive. As far as BTLs limit them to the home they live in to take part.

The average mortgae is about £110,000 now.

So the average owner would only have to pay £90 a month to live in their house!!!

Its brilliant!!!!!

I'm not quite sure how happy the potential FTB or average renter paying £600 a month and unable to get into this "New Deal" would be, but hey, you can't make an omelette without breaking eggs. I commend this lunacy to the house.

Edited by ItsColdUpHere

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the solution is to let the banks go bankrupt and rebuild our morally and financially corrupt society

but the politicians will put off the day of reckoning until the crisis is even worse than now and probably until the masses riot as they're doing in other countries

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Good citizens MEW and spend, thus generating VAT returns, employment, economic growth, etc. You are a bad citizen and will be dealt with, your home will be assigned to a member of the nner-party or some Afghans.

The money I would have spent on a mortgage is more than swallowed up paying for 2 teenagers to go to university, one of whom has to rent accomodation away from home. So I am spending and not saving. What does MEW mean?Pardon my ignorance.

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Not that good, I can easily afford £600 a month so I'll outbid you, the home is now worth £7,200,000 and we're all rich. I will then sell it to somebody that can afford £1000/month, then buy another place with the profit, like a hyperinflated dog kennel.

Let's all pat ourselves on our back for working so hard and making so much money, then vote Labour.

I was being modest.

I could easily manage £1500 a month and live in an £18 million pound (at peak) mansion.

There is no bad side to this plan!!!!

Can we do the same to cars please?

Edited by ItsColdUpHere

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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