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Must Listen To This!

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30 min bear fest on Radio 4

Homes But No Loans

Thanks to STR 2007 and Gone to Colombia on the news article side for this absolute gem.

SUMMARY (but listen anyway!)

FTBs with large deposits and good jobs are being turned away by mortgage lenders.

The banks are charging the highest rates to FTBs as part of the process of rebuilding their capital.

People who are keen to sell cant find buyers.

This is putting downward pressure on prices and negative equity is becoming more widespread.

Others who have lost their jobs are struggling to keep up payments, especially with cuts to SMI.

Banks have been gracious with limiting repos but that could end if they think a quick sale now will limit losses compared to later.

BTL mortgage holders are also in trouble and will be much quicker to sell if they think prices are tanking.

These last two could easily combine to be self-fulfilling and a growing number of 'experts' are predicting this since levels are currently 30% higher than historical norms.

Edited by rantnrave

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  • 311 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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