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Malthus

Motivated Sellers

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As BVI likes to point out the largest falls took place at the start of the crash, imho this was the result of government manipulation of the market through SMI support for mortgage holders in financial difficulty.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/On_a_low_income/DG_180321

A two year time limit to SMI for new customers getting income-based Jobseeker's Allowance was introduced from 5 January 2009.

This will start affecting some people from 5 January 2011. If you have received SMI for two years from 5 January 2009 or later, you will no longer receive help with your mortgage interest.

Unfortunately we don't have the US " jingle mail " option or imho the banks/building societies would have more keys than a locksmith in the near future ;)

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"Its head of policy, Kevin Higgins, said this was about half of the total number of SMI claimants in Northern Ireland. "

So 14,000 then in total, as of last September, with 7,000 "at risk of losing homes". I would expect the number to have risen since last Sept.

At least 14,000 "home-owners" waiting for a return to the "good times". Good luck with that.

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"Its head of policy, Kevin Higgins, said this was about half of the total number of SMI claimants in Northern Ireland. "

So 14,000 then in total, as of last September, with 7,000 "at risk of losing homes". I would expect the number to have risen since last Sept.

At least 14,000 "home-owners" waiting for a return to the "good times". Good luck with that.

Families will be £2,500 worse off this year http://www.telegraph.co.uk/finance/personalfinance/8333713/Families-budget-to-be-2500-worse-off-this-year.html

And petrol has hit a new high - oil at $104 a barrel and rising.

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So how long roughly between losing SMI support and repossession (or forced selling) do you reckon?

and how many people are in receipt of SMI?

I know someone, smi was reduced around the end of last summer and is starting to feel the pinch but says he should be ok for another 12 months as long as there are no IR rises. He's hoping to get a job by then. He took 2 years out to give his missus a hand with their two new babies and had a bit of savings. Truth be told he wasn't expecting the economy to nose dive the way it has over the last couple of years.

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I dont know about that. If you look at it from the Gov/ Taxman's point of view. They are perhaps paying £400 a month towards keeping these people in a house. Hoping its short term until they get a job again (some will). If they let it go the Gov/taxman will have to find another rental house and will more likely have to pay more.

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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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