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Oliver Sutton

Halifax Surprising Drop

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Commenting, Martin Ellis, housing economist, said:

"House prices in the final three months of 2013 were 1.9% higher than in the previous three months. This was within the narrow range of 1.8-2.1% for this measure recorded in each of the preceding six months. The annual rate of price increase fell slightly compared with last month with prices in the three months to December 7.5% higher than in the same three months last year.

"Mounting signs that the economic recovery is becoming firmly established, together with a predicted decline in unemployment, should further boost consumer confidence over the coming months. This will increase the likelihood that more people will consider buying a property in 2014, therefore supporting housing demand.

"Nonetheless, continuing pressures on household finances, as earnings again fail to keep pace with consumer price inflation, are expected to constrain demand. The recent strengthening in house prices is increasing the amount of equity that many homeowners have in their home. This will potentially encourage and enable more owners to put their property on the market for sale over the coming year, therefore boosting supply. Indeed, our consumer confidence research shows that there has been a significant improvement in sentiment towards selling in recent months. These factors should help to curb the upward pressure on prices."

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Nothing surprising in that. the big surprise is the yoy increase :lol:

HTB2 will go down like a lead ballon without any FLS money to lend.

TPTB gave all the egyts a chance to get out of housing in 2013...how many took it ?

I remember thinking in retrospect when I saw Tony balir buy a big house in london it was time to pile into B&M.

I learned my lesson and when I saw this:

http://www.mirror.co.uk/news/uk-news/george-osborne-makes-450000-profit-1449641

Edited by TheCountOfNowhere

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HTB2 will go down like a lead ballon without any FLS money to lend.

They can still use FLS for mortgage lending provided they keep on increasing business lending. A little bit of smoke and mirrors int he detail of that announcement.

Use of FLS will significantly decrease though.

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Excellent. Looks like we've hit the affordability ceiling again even with the HtB subsidy. Another one of George and Dave's epic fails.

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They can still use FLS for mortgage lending provided they keep on increasing business lending. A little bit of smoke and mirrors int he detail of that announcement.

Use of FLS will significantly decrease though.

So

Scrapping FLS Will "Cut Lending, Punish Buyers and Hurt Recovery" (29.11.13) - See more at: http://www.insideconveyancing.co.uk/content/scrappingflswillcutlendingpunishbuyersandhurttherecovery#sthash.p76QctzU.dpufScrapping FLS Will Cut Lending, PunishBuyers and Hurt Recovery" (29.11.13) -

was in actual fact not the case at all ....there will be FLS for mortgage lending ....

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So

Scrapping FLS Will "Cut Lending, Punish Buyers and Hurt Recovery" (29.11.13) - See more at: http://www.insideconveyancing.co.uk/content/scrappingflswillcutlendingpunishbuyersandhurttherecovery#sthash.p76QctzU.dpufScrapping FLS Will Cut Lending, PunishBuyers and Hurt Recovery" (29.11.13) -

was in actual fact not the case at all ....there will be FLS for mortgage lending ....

Fixed for you....

Scrapping FLS Will "Cut Idiot Lending, Punish Help Buyers and Hurt Lead to Recovery"

VIB.

( vested interest bolax ).

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They can still use FLS for mortgage lending provided they keep on increasing business lending. A little bit of smoke and mirrors int he detail of that announcement.

Use of FLS will significantly decrease though.

Of course, we all know BTLs are a business...

:ph34r:

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Of course, we all know BTLs are a business...

:ph34r:

I guess my Q for all the crappy linking (and then not being able to 'edit' because I have not been a HPC member, this time, long enough) was a serious Q regarding if I had read this wrongly in November or if it was reported inaccurately?

The surprise move to refocus FLS means that until the scheme ends, in January 2015, it will now be used only for business loans. The FLS for home loans will end a year earlier than planned, in January 2014.

Are we really saying that BTL will be seen as business loans?

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I guess my Q for all the crappy linking (and then not being able to 'edit' because I have not been a HPC member, this time, long enough) was a serious Q regarding if I had read this wrongly in November or if it was reported inaccurately?

The surprise move to refocus FLS means that until the scheme ends, in January 2015, it will now be used only for business loans. The FLS for home loans will end a year earlier than planned, in January 2014.

Are we really saying that BTL will be seen as business loans?

That would be my concern...time will tell.

I am convinced this return to normal boom has been fuelled by the BTL brigade ready to make a fortune since money in the bank is not getting any return and the government are giving away other peoples money to entice people to bye.

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I am looking at commercial property at the moment.

I asked if i bought a commercial investment property would i be able to us FLS.... The answer was owner occupied only

So I would suggest this is not possible for residential properties within a business.

Also if the conditions for residential mortgages where the same as for commercial mortgages we would have had a lovely HPC by now as they want shorter terms, 30% + deposits etc etc

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I am looking at commercial property at the moment.

I asked if i bought a commercial investment property would i be able to us FLS.... The answer was owner occupied only

So I would suggest this is not possible for residential properties within a business.

You're forgetting one thing......LIAR LOANS.

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See this article....

http://www.economicvoice.com/what-does-2014-have-in-store-for-buy-to-let/

2012’s Autumn Statement included a mini-makeover for the FLS, which has been extended until 2015 but geared more towards small and medium enterprise (SME) lending. In April 2013, the Bank of England extended this definition to include property investors; as long as you have an annual turnover of less than £25m, the FLS may well ease your access to buy to let finance in the coming months.

So although BoE have stopped FLS for mortgages for normal people, they are allowing FLS to be directed towards property investors....

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That would be my concern...time will tell.

I am convinced this return to normal boom has been fuelled by the BTL brigade ready to make a fortune since money in the bank is not getting any return and the government are giving away other peoples money to entice people to bye.

Tried to look for the figures for BTL lending last year but I am trying work on old loaned laptop as my PC is back with the KnowHow team ( who sadly do not seem to know how because PC keeps coming back with the SAME problems) anyway the borrowed laptop will not let me open CML charts which show % of BTL loans for 2013 says I need to buy Office! So had a bit of a scout on HPC for those stats but not having much luck . I am as ever confused, am I correct in understanding that FLS helped keep the interest on BTL loans low last year? So has the interest on BTL loans increased since the announcement of FLS ending? Perhaps as usual I am missing the point !

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7.5% increase - 2013

Government will usher in a "New age of house price stability"

Grant Shapps/Michael Green - Tory housing minister 2011. Promoted to Tory Chairman.

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See this article....

http://www.economicvoice.com/what-does-2014-have-in-store-for-buy-to-let/

2012’s Autumn Statement included a mini-makeover for the FLS, which has been extended until 2015 but geared more towards small and medium enterprise (SME) lending. In April 2013, the Bank of England extended this definition to include property investors; as long as you have an annual turnover of less than £25m, the FLS may well ease your access to buy to let finance in the coming months.

So although BoE have stopped FLS for mortgages for normal people, they are allowing FLS to be directed towards property investors....

shocking. BTL must be banned!!!! this does seem to back up my theory that the 2013 return to normal mini boom is actually based on btl idiots trying to pile back in because some cheap money is available.

despite this. prices hardly doing up round here.

the whole thing is corrupt, stupid or totally insane!

i am pretty certain the solution to a sub prime housing credit bubble is not to start lending tax payer cash on sub prime loans to buy proper at inflated prices :lol:

Edited by TheCountOfNowhere

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