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Mse 'fix Mortgage Deals Now'


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You'd have to ask "is there a way for banksters to benefit if rates rise" before considering whether TPTB will willingly raise base rates (they may of course be forced to if they lose control of events).

As long as the institutions of Wall Street and The City stand to gain from low rates, they will stay low (absent an out of control event). Follow the big money.

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They said it wasn't warranted by developments in the UK economy, which doesn't preclude the possibility that it is warranted by developments elsewhere.

Also, it's disingenuous, since the US never talked about a "rate rise", they talked about the _possibility_ of no longer buying so many bonds per month _next year_ _if_ the economy continues to imrpove. Rate rises would presumably come after that.

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I was talking to an EA yesterday who said that the main lenders simply are not lending and that he has had numerous examples of people trying to arrange a mortgage via them, paid for the mortgage arrangement and then been turned down.

He said that the buyers are then going to smaller less known mortgage suppliers who charge considerably more in fees and interest rates. Kensington(?) was named as one.

He reckoned most of those people would be repossessed within 3 years.

Imagine you are a banker.

Which would you lend on?

A.) A buyer comes to you today with a 5% deposit for a mortgage

B.) On Jan 1st a buyer comes to you with a 5% deposit but the government will cover the next 20% of any losses on the mortgage and pay you a fee if you have to repossess.

Edited by Democorruptcy
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Imagine you are a banker.

Which would you lend on?

A.) A buyer comes to you today with a 5% deposit for a mortgage

B.) On Jan 1st a buyer comes to you with a 5% deposit but the government will cover the next 20% of any losses on the mortgage and pay you a fee if you have to repossess.

A) doesnt exist.

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BBC News now with a massive house ramping item - woman who could not sell her house for years just put it back on market for 10K more than previously and first buyer snapped it up.

Block of 20 flats sold before completion.

Freck!!! It is relentless.

Did they say who bought the house (assuming it's a true package ofc) BTLer buying it 'for me pension innit'? Or foreign buyer? UK taxpayer/saver sponsored buyer? Cash buyer fearing hyperinflation/dash for assets buyer?

The flats I suppose we can guess went to BTLers largely

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Did they say who bought the house (assuming it's a true package ofc) BTLer buying it 'for me pension innit'? Or foreign buyer? UK taxpayer/saver sponsored buyer? Cash buyer fearing hyperinflation/dash for assets buyer?

The flats I suppose we can guess went to BTLers largely

No, no mention of who bought the flats but it came across as that the housing market is booming and house prices are rising at rapid rates.

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That's the advantage of being a VI with a voice, one or two examples is made to represent the entire market. Here is an example of a price collapse; Barnet, Greater London

£225,000 Flat, Leasehold 12 Nov 2012

£316,000 Flat, Leasehold 21 Apr 2006

£227,500 Flat, Leasehold 26 Apr 2013

£303,000 Flat, Leasehold 15 Aug 2003

A 30% fall in London from 2006 to end 2012 or 25% from 2003 to 2013, so in greater London using the BBC approach prices have collasped.

On seeing the huge drops you posted, I guessed exactly which block you were talking about, as I had noticed similarly huge falls there.

I'm not sure what's gone on in that particular block, whether it's issues with the developer/Management Co etc., but those drops unfortunately are only representative of that specific development.

Some more from the same block:

£245,000 Flat, Leasehold 23 Mar 2012

£307,000 Flat, Leasehold (New Build) 21 Aug 2003

£191,000 Flat, Leasehold 05 Nov 2008

£330,000 Flat, Leasehold (New Build) 23 Dec 2005

£250,000 Flat, Leasehold 18 Sep 2007

£362,000 Flat, Leasehold 31 Mar 2006

£230,000 Flat, Leasehold 14 Jul 2006

£320,000 Flat, Leasehold (New Build) 18 Jun 2004

And one bucking the trend:

£350,000 Flat, Leasehold 15 Sep 2006

£285,026 Flat, Leasehold 10 Oct 2003

Something very dodgy going on there! All numbers taken directly from Right Move.

Edited by BarnetBear
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Yes but the point is that me as as the BBC with a VI, in this case a collapse in prices, is used to represent the entire market. In the same way that because prices are soaring in central London then they are also soaring everywhere else JOY FOR HOME OWNERS implying that it is joy for all home owners. IIRC correctly Halifax reported that only in London and SE prices increased but everywhere else prices fell but the message is the market has recovered and prices (everywhere) are rising.

iN OTHER NEWS, Investigative Journalists at the Beeb only given 1 minute to investigate..read headlines only.

In truth though, you will rarely see anything in depth on the media UNLESS the news IS the media, where to get a story, all they gotta do is pick up the internal phone, or walk down to reception.

News from the Westminster village is released to them in handouts.

everything else is headline scraping.

Edited by Bloo Loo
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BBC News now with a massive house ramping item - woman who could not sell her house for years just put it back on market for 10K more than previously and first buyer snapped it up.

Block of 20 flats sold before completion.

Freck!!! It is relentless.

Wouldn't call it sold.....more like offloaded, phew. ;)

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  • 418 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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