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Up To 1 In 5 House Sales Fall Through Due To Mortgage Problems

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Story in Herald about housebuilder Stewart Milne. They estimate up to 20% of their agreed sales fall through due to lack of mortgage availability.

Or, maybe people are starting to realise house prices are falling? :)

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Breaks my heart that a purveyor of cheaply made shoeboxes masquerading as homes is having trouble selling his overpriced wares. There are a lot of council members in Scotland that should be brought to task for allowing this guy's awful architecture to ruin many of our lovely cities aesthetics.

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He also thinks that lenders should create a wider range of products than they had before - to help kickstart the market and address the shortage of lending.

Scotsman

:rolleyes:

Edited by ccc

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Aw poor stewart.

"Stewart Milne, owner and executive chairman of the firm, said lenders appeared to be applying unreasonable criteria when reaching lending decisions. “Experienced people that we would normally expect to get mortgages without any problem, for unbelievable reasons, are being turned down,” he told The Herald"

What a pwick "unreasonable criteria" like been actually able to pay back the mortgage if and when things get worse.Oh and experienced people should get mortgages, wtf does this mean ? experienced in what, lying about how much they earn. Do me a favour..

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He also thinks that lenders should create a wider range of products than they had before - to help kickstart the market and address the shortage of lending.

Scotsman

:rolleyes:

LOL - what a beauty of a quote that is, oh and we would help if we could is a cracker too. LOL

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LOL - what a beauty of a quote that is, oh and we would help if we could is a cracker too. LOL

The lack of shame from these people is remarkable.

Shame this is not in the main forum. Interesting info.

Done. :D

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Funnily enough, when I read the article my first thought was "Oh, I thought it would be more than 20%".

But apparently the government is preparing a nice bonanza for housebuilders in the budget to keep prices high.

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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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