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I Knew Ray Boulger Was An Idiot, But Wow!

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http://www.bbc.co.uk/news/business-11164697

How can you have an article titled "House prices: The stagnant market and you" and fail to mention house prices as value once, it's all about securing a mortgage, it's utterly disgraceful propoganda from the BBC and there puppy dog! They completely ignore the fact the falling prices are good for FTBs and bad for down sizers.

House prices: The stagnant market and you

By Kevin Peachey Personal finance reporter, BBC News

The UK housing market has reached a plateau this summer - a situation welcomed by some, but a source of despair for others.

The Nationwide building society says prices have "stagnated", with no change on the latest three-monthly comparison of average property values.

Meanwhile, the lack of supply and demand of home loans means that lending in the UK mortgage market is at very low levels.

So how does this affect different groups of people looking to move home, and what can they do to improve their chances of getting the mortgage and home they want?

Ray Boulger, of mortgage brokers John Charcol, and Tim Hammond, chief executive of the Homebuyer Centre, give their views.

First-time buyers

A social divide is likely to widen owing to difficulties in securing a mortgage without access to a large deposit, according to Mr Boulger.

He says that young first-time buyers who get financial help from their parents are much more likely to get on the property ladder.

More mortgages with a deposit of less than 25% are available now than was the case a year ago, he says, but the bigger the deposit, the more competitive the rates.

He says a rough estimate would show that an extra 5% deposit offered would make a mortgage interest rate 0.5% cheaper.

The chink of light for first-time buyers is the fact that prices have stagnated and show few signs of rising quickly in the near future.

This means that there is less pressure on buyers to put in an offer quickly, fearing that the price would keep going up if they delay for a few months.

Mr Hammond says that the increasing numbers of properties coming on to the market mean first-time buyers can haggle on prices.

"Take asking prices with a pinch of salt," he says, suggesting that buyers look seriously at two or three properties, rather than setting their heart on one which might be overpriced.

Family moving to a bigger home

Those with a relatively small amount of equity could find themselves in a similar position to first-time buyers, according to Mr Boulger.

As with first-time buyers, it is important for them to maintain a good credit score in order to secure a competitive mortgage.

Lenders may now also ask for the last three months of bank statements, so extravagant spending might be better put on a credit card and then paid off immediately, rather than on a debit card where the spending is obvious to the lender.

Ensuring all bills are paid on time, making sure they are on the electoral roll, and not regularly switching and closing bank accounts would also help to keep a good credit score.

Mr Hammond says that families should arm themselves with all the price information that is available on the internet.

They should also pay the most attention to the differential between the price they are selling and the one they are buying at - and ensure that this is within manageable levels.

Pensioner looking to downsize

With a lot of properties coming onto the market, there is no need for those retiring to rush into switching to a smaller home, Mr Hammond says.

Monopoly piece on coins Securing a mortgage could be more of an issue than finding a home

The very fact they are downsizing means that their equity will go further, Mr Boulger says.

However, lenders are reluctant to give home loans to people who would still be paying them off after the age of 75.

With the default retirement age expected to be scrapped, the number of people working at this age is likely to increase.

Borrowers should check their timing to ensure their mortgage is paid off by the time they eventually do retire, he says.

Moving to a different area of the UK

The housing market varies across the UK, with different property values and different rates of price change in local areas.

Continue reading the main story

Prices are affected by local issues, such as schools, new developments, and the future of big local employers.

However, over time, prices do tend to catch up in areas that have lagged behind the national average, or slow down when prices have been over-inflated, Mr Boulger says.

So flexibility in timing when to buy is key, he says.

"It is worthwhile looking at the trend in prices where you are looking to move to, and making a judgement," he says.

Mr Hammond agrees, saying that people often do not do enough homework on the local market because of the distances involved in searching for properties somewhere new.

Meanwhile, the self-employed face a further hurdle of mortgage lenders' doubts over giving home loans to those with a variable income.

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"No change" in prices recently? This statement is itself enough to dismiss the article as uninformed rubbish.

Even the most dishonest VIs admit several months in a row of falling prices. No one claims the market has plateaued--such a state of affairs never exists in a dynamic market where buying and selling occurs. Prices either rise or they fall they NEVER stagnate. Inflation, improvements, costs of selling etc. alone change values even if the selling price did remain the same.

BBC tripe to be ignored or referred to the complaints people.

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"No change" in prices recently? This statement is itself enough to dismiss the article as uninformed rubbish.

Even the most dishonest VIs admit several months in a row of falling prices. No one claims the market has plateaued--such a state of affairs never exists in a dynamic market where buying and selling occurs. Prices either rise or they fall they NEVER stagnate. Inflation, improvements, costs of selling etc. alone change values even if the selling price did remain the same.

BBC tripe to be ignored or referred to the complaints people.

your still under the assumption that the uks interest rates are not going to be subject to emergency rises that will kill speculators dead. the govnt wants to avoid it, but it cant. april 2011. DEAD END. time to FACE THE MUSIC. finally.

i would lose my own job, but it is worth it, just to see the buy to let *****ers crash and burn.

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"No change" in prices recently? This statement is itself enough to dismiss the article as uninformed rubbish.

Even the most dishonest VIs admit several months in a row of falling prices. No one claims the market has plateaued--such a state of affairs never exists in a dynamic market where buying and selling occurs. Prices either rise or they fall they NEVER stagnate. Inflation, improvements, costs of selling etc. alone change values even if the selling price did remain the same.

BBC tripe to be ignored or referred to the complaints people.

The article is nearly three months old ;).

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http://www.bbc.co.uk/news/business-11164697

How can you have an article titled "House prices: The stagnant market and you" and fail to mention house prices as value once, it's all about securing a mortgage, it's utterly disgraceful propoganda from the BBC and there puppy dog! They completely ignore the fact the falling prices are good for FTBs and bad for down sizers.

Falling house prices are good for everybody.

Speaking as a downsizer who cares. I can't enjoy my downsizing retirement if my children aren't happy and settled.

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The UK housing market has reached a plateau this summer - [...] a source of despair for others.

What a stunning sentence.

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Falling house prices are good for everybody.

Speaking as a downsizer who cares. I can't enjoy my downsizing retirement if my children aren't happy and settled.

deflation is good for everybody.

except dealers in FIAT.

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http://www.bbc.co.uk/news/business-11164697

How can you have an article titled "House prices: The stagnant market and you" and fail to mention house prices as value once, it's all about securing a mortgage, it's utterly disgraceful propoganda from the BBC and there puppy dog! They completely ignore the fact the falling prices are good for FTBs and bad for down sizers.

This article is beyond incompetent, it is a disservice to the public. Shame on the BBC - again.

Someone should write a rational, calm (I'm out) complaint about it.

But to whom though? :unsure:

In a quick Google search about this articles' author, "Kevin Peachey", I could not find his qualifications. Not even Googling inside the BBC website, I've found this though (I think it is from 2006) :

Regional Consumer Journalist of the Year: Jayne Barrett, BBC North-West

“Jayne Barrett beat off some stiff competition in this extremely popular category, most notably from Catherine Hendricks, of the Birmingham Evening Mail, Andrew Hutchinson, of the Yorkshire Evening Post, and Kevin Peachey, of the Nottingham Evening Post. But Jayne’s ability to put together thoughtful packages that highlighted the dodgy practices of some of the north-west’s biggest con artists – not least the notorious doorstep cowboy John ‘Boy’ Hamer – helped her scoop this award.”

http://www.bbc.co.uk/northernireland/oyb/proginfo_24-06-06.shtml

Edited by Tired of Waiting

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This article is beyond incompetent, it is a disservice to the public. Shame on the BBC - again.

Someone should write a rational, calm (I'm out) complaint about it.

But to whom though? :unsure:

In a quick Google search about this articles' author, "Kevin Peachey", I could not find his qualifications. Not even Googling inside the BBC website, I've found this though (I think it is from 2006) :

grow a pair. and stop paying your licence fee if you feel that strongly.

stop looking to others to do the work. stand up and be counted.

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grow a pair.

F off.

and stop paying your licence fee if you feel that strongly.

Primitive.

stop looking to others to do the work. stand up and be counted.

I do a lot of work in this area. Not only here (much more than you), but outside as well.

.

Edited by Tired of Waiting

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Does anyone have a link to comprehensive list of print, online, radio and TV editorial email addresses as well as the "press complaints office" for each media?

It would save me some time before putting pen to paper (well actually keyboard to screen).

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Don't let facts get in the way of yet another rant about Boulger!

It explains the "plateau", but not the blindness to the obvious fact that lower housing costs are a public good. (Please see my sig.)

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I will make the point that house prices lowering because people can't afford to pay more doesn't do much to relieve the social problems caused by high house prices (the problem that people can't afford them) This is the traditional house price dynamic and it is abusive on the way up and abusive on the way down. What we need is house price to go down, not because people can afford them, but because they are no longer an investment opportunity

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Falling house prices are good for everybody.

Speaking as a downsizer who cares. I can't enjoy my downsizing retirement if my children aren't happy and settled.

Not if you are BBC journalist up to their neck in BTL properties apparently.

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I will make the point that house prices lowering because people can't afford to pay more doesn't do much to relieve the social problems caused by high house prices (the problem that people can't afford them) This is the traditional house price dynamic and it is abusive on the way up and abusive on the way down. What we need is house price to go down, not because people can afford them, but because they are no longer an investment opportunity

Yes, that too. Good point.

The only danger is your position being distorted as being in favour of easy finance. I know it is not, but it could be misconstrued or misunderstood as such.

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your still under the assumption that the uks interest rates are not going to be subject to emergency rises that will kill speculators dead. the govnt wants to avoid it, but it cant. april 2011. DEAD END. time to FACE THE MUSIC. finally.

i would lose my own job, but it is worth it, just to see the buy to let *****ers crash and burn.

what happens April 2011?

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What does he do?

What is he paid for?

If all it is is to go on TV and talk $hit they could at least find someone good looking surely, instead of that sweaty jowly greasy haired micro jabba Boulger.

Seriously, he is replusive, physically and in his Bankster class devil worship.

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He keeps banging on about parents helping out financially. How soon will it be that parents start to see high house prices as a pain in the ass and having to shell out 10's of thousands as a deposit for their kids is making them poorer despite having loads of "ungettable" equity in their own property. HaHa.

The age of the bear cometh.

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He keeps banging on about parents helping out financially. How soon will it be that parents start to see high house prices as a pain in the ass and having to shell out 10's of thousands as a deposit for their kids is making them poorer despite having loads of "ungettable" equity in their own property. HaHa.

The age of the bear cometh.

And all those parents who bought young Tarquin or Annabelle their student digs in 2006-07 at the market peak will soon be facing up to the fact that it will be sold for less than the buying price.

Once bitten, twice shy. B)

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Not if you are BBC journalist up to their neck in BTL properties apparently.

Houseprices falling ARE good for everybody except for those people who have bought a house at the peak of the market. Which, in reality, is not very many people. Most people are plain greedy whether they be BLT investors or householder who own one home. I ask some of my friends how much they think thei house is worth and they usually give me some overinflated figure - despite being in the property for a very long time.

I sold my house last year and loads of people told me that I had priced it too low despite it being on the market for a lot more than I had paid for it. As long as the price is the same, at least, it's ok imo.

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In an ideal world, selling your house for £1 more than you bought it would be a good deal.

However, many people are betting that the extra cash realised on a sale will be used as their pension. If they are 5 yrs from retiring, no or little savings, then every time they see a "bad" article saying prices falling / crashing means they have less to spend when they retire.

For every article I saw prior to 2008 saying not to use your house as your pension pot, I saw another 5 saying it was a great "investment" as prices would only ever go up.

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  • 312 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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