twatmangle Posted June 16, 2010 Share Posted June 16, 2010 FTBs needing a 25% deposit, which is probably 25% more than they currently need, would be met by firstrung housing falling in price....providing other government payments to prevent forced sales stopped. FTBs are few and far between as it is.....homebuy type schemes keep the market propped. course, if the first rung falls, the next ones will fall by even more. everybody gains....bankers can sell more, smaller mortgages more cheaply, bankers will be more secure with better collateral, buyers can move up more cheaply, and sellers will be able to find a buyer. What's that got to do with my question? So, how big is your deposit right now? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 16, 2010 Share Posted June 16, 2010 What's that got to do with my question? So, how big is your deposit right now? none of your business. now finish your banana. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 16, 2010 Share Posted June 16, 2010 what time is the speech? Darling might be watching. Though he seems to have gone a little crackers judging by some quotes! Quote Link to comment Share on other sites More sharing options...
Pent Up Posted June 16, 2010 Share Posted June 16, 2010 What time is said speech? It's 9pm tonight. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 16, 2010 Share Posted June 16, 2010 what time is the speech? Darling might be watching. Though he seems to have gone a little crackers judging by some quotes! Are you watching Darling?....famous last words in the Loo household. Quote Link to comment Share on other sites More sharing options...
Guest The Relaxation Suite Posted June 16, 2010 Share Posted June 16, 2010 The rich are taking back their land. Then education, Then healthcare. Pretty obvious they would do that after stealing as much as possible from the poor first. It's what they do............. The rich won't be taking anything back when land prices crash through the floor and all those patient FTBs are let loose with their decades of savings. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 16, 2010 Share Posted June 16, 2010 40% denied a home...no, a rented home is still a home, if there was better security of tenure with reasonable rent, renting would be a far better option for many when property has no capital growth and interest rates start rising again......how it used to be. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted June 16, 2010 Share Posted June 16, 2010 They take a different view of these things in the US :- http://news.bbc.co.uk/1/hi/business/10333551.stm Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted June 16, 2010 Share Posted June 16, 2010 Is George up on his feet yet, has he sacrificed a BTL`er live on the stage yet? Is he twirling a snake like Alice Cooper? "Welcome to Your Nightmare" Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted June 16, 2010 Share Posted June 16, 2010 Is George up on his feet yet, has he sacrificed a BTL`er live on the stage yet? Is he twirling a snake like Alice Cooper? "Welcome to Your Nightmare" Why is the chancellor forced to bow down before these f***rs anyway, it's like Thatcher having to address the NUM or TUC annual congress in the middle of the miners strike. Quote Link to comment Share on other sites More sharing options...
New_Renter Posted June 16, 2010 Share Posted June 16, 2010 so did they announce the deposit ltv then??? Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 16, 2010 Author Share Posted June 16, 2010 Did anyone watch the speech? Any worthwhile news? Quote Link to comment Share on other sites More sharing options...
crash2006 Posted June 16, 2010 Share Posted June 16, 2010 Falling prices will result in reduced rent, allowing the time to save up for a deposit. Rents are too high because house prices are too high. Its a start, a cap on mortgages is in the right direction, lowering rents etcc in the future, if they can reduce house prices uk may have a chance against china etc.. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 16, 2010 Author Share Posted June 16, 2010 There are currently 50 people on this thread did ANYONE hear the speech? Anybody? Speech. Anybody?. Speech. Anybody? Quote Link to comment Share on other sites More sharing options...
erranta Posted June 16, 2010 Share Posted June 16, 2010 <br />The rich are taking back their land.<br /><br />Then education,<br /><br />Then healthcare.<br /><br />Pretty obvious they would do that after stealing as much as possible from the poor first.<br /><br />It's what they do.............<br /><br /><br /><br />They ARE! Now massively wealthier after the last decades of wealth transfer (and embezzlement) the French govenment (for one) are having a State fire-sale, flogging their old mansions and land back to them for a 'relative' bargain! Quote Link to comment Share on other sites More sharing options...
peakoil Posted June 16, 2010 Share Posted June 16, 2010 has anyone got a link to the speech? sky news had it live but I only got the last five mins.... Quote Link to comment Share on other sites More sharing options...
Maddog21 Posted June 16, 2010 Share Posted June 16, 2010 There are currently 50 people on this thread did ANYONE hear the speech? Anybody? Speech. Anybody?. Speech. Anybody? No, it was drowned out by the vuvuzelas The bit i caught was just some posh tw@t talking b0ll0x Quote Link to comment Share on other sites More sharing options...
plb Posted June 16, 2010 Share Posted June 16, 2010 has anyone got a link to the speech? sky news had it live but I only got the last five mins.... http://www.hm-treasury.gov.uk/press_12_10.htm Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 16, 2010 Author Share Posted June 16, 2010 http://news.bbc.co.uk/1/hi/business/10326027.stm Click and play Quote Link to comment Share on other sites More sharing options...
New_Renter Posted June 16, 2010 Share Posted June 16, 2010 oh i cannot be bothered to click or read. Did they put a cap on borrowing? No more FSa from 2012 why does it take so long to do anything Quote Link to comment Share on other sites More sharing options...
markyh Posted June 16, 2010 Share Posted June 16, 2010 (edited) i think 25% deposit should be the minimum I think this is the wrong way to go. You should not cap LTV ratios, all they have to do is go back to how it was before all this kicked off 15 years ago and set strict limits on wages multiples that have to be backed up by recent payslips and P60's, with the figures being having to be confirmed by the Taxman to the bank. I bought my first house with my ex girlfriend in 1996. Both in our mid twenties. Max LTV was 95% so you had to save at least a 5% deposit. I was on 18k she was on 13k , so joint was 31k. House was £55k, we put down £5k and took a First time buyer £50k "PEP" mortgage £2.5k cashback. Bough a nice small 2 bed semi starter home in the SE on a nice estate. IR was variable and was 6.5% at the time (people would die a financial death at that rate now). But the main thing was the income multiples were strict. It was 3 x main + 1 x lower (traditional woman will have to have kids and stop working for 15 years+ so loss of 2nd income shouldn't stretch you) , or 2 x joint max. So we could have either borrowed £67k or £62k. I do seem to remember talking to and IFA who said he could get us £80k but that was 3 bed detached money, far bigger house than we needed and seemed a risk to "borrow" much more than we needed. The trouble with restricting LTV's is it does little to stop kids going to the bank of mum and dad for gifted deposits. But income multiples cant be financed by mum and dad unless they employ you on high wages for 12 months prior! M Edited June 16, 2010 by markyh Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 16, 2010 Author Share Posted June 16, 2010 I think this quote about sums it up: There are real issues of fairness. Hot air, waffle and no concrete plans. :angry: Quote Link to comment Share on other sites More sharing options...
mightytharg Posted June 16, 2010 Share Posted June 16, 2010 The rich won't be taking anything back when land prices crash through the floor and all those patient FTBs are let loose with their decades of savings. Who was Tecumseh? One of my ancestors who betrayed our family and sided with the bad guys in the civil war called his kid Tecumseh. Just curious who he was. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 16, 2010 Author Share Posted June 16, 2010 (edited) FX did not like the waffle either: Down over 100bp: 1.47195 Look at the chart--steep drop as soon as they realised Osborn was waffling crap. http://www.xe.com/ This will hit the markets tomorrow as the traders are looking for a definite plan not "fairness" etc. Its a bit like Brown and "getting on with the job." The markets want numbers and application. Edited June 16, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
Flatdog Posted June 16, 2010 Share Posted June 16, 2010 There are currently 50 people on this thread did ANYONE hear the speech? Anybody? Speech. Anybody?. Speech. Anybody? I share your exasperation RB. I heard the speech, same old same old, nothing of any real substance. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.