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macbeth79

Family Springboard Mortgage, How Bomad Funds Deposits Barclays

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Quite a good idea. It is basically a mortgage guarantee, but with the parents offering collateral for three years instead of actually having to give darling child some of their money.

Barclays' mistake is that the guarantee only lasts for three years. As long as the child-parent combo can maintain repayments for three years, then the bank has no claim on the collateral.

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Banks are already one step ahead of Marx Carney and his macro pru tools.

Quite funny really watching this unfold.

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I remember these adverts. Disgusting.

My parents' parents would have been horrified to be asked to support their adult children to this extent. What happened to standing on your own two feet and earning your own way in the world?

Your birth is more important than your efforts in this country.

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Your birth is more important than your efforts in this country.

Thus it ever was, my friend. There was a brief period in the mid 20th century when things were different but for years we have been reverting back to the mean.

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.....funding childrens deposits is not something most homeowners can do, the equity that magically materialised can only be released by borrowing it and having the means to fund that extra borrowing....take three kids that require help and that can be a big debt to cover ontop of any existing debt.

If a child was to wait for the bomad they could quite easily be well into retirement themselves before they might see a few bob.....homes will be funding retirements not deposits for most....then it is gone. ;)

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The working class and lower middle class are going to be disenfranchised.

Not sure they were particularly enfranchised, though it may have appeared that way for a time.

In terms of property though, they can & should use their political influence to demand housebuilding increases beyond the equilibirium rate (which appears to be somewhere around 250k new households p.a.), push for rising real wages & higher minimum wages and so on, and stop voting for anyone who won't give them these things.

They could also seek others way to build financial capital such as multi-generational living (as immigrants often do, out of necessity as much as for any other reason) or perhaps starting small family businesses.

I'm not entirely sure that most people have yet 'woken up' to what's happening though and the big danger is that by the time they have power will have been consolidated by those who really don't give a monkeys - as it is clearly attemption to do right now.

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.....funding childrens deposits is not something most homeowners can do, the equity that magically materialised can only be released by borrowing it and having the means to fund that extra borrowing....take three kids that require help and that can be a big debt to cover ontop of any existing debt.

If a child was to wait for the bomad they could quite easily be well into retirement themselves before they might see a few bob.....homes will be funding retirements not deposits for most....then it is gone. ;)

Yep.

You want to release equity from a house?

Sell it and buy a smaller one.

All other options are nothig more than scams.

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Not sure they were particularly enfranchised, though it may have appeared that way for a time.

In terms of property though, they can & should use their political influence to demand housebuilding increases beyond the equilibirium rate (which appears to be somewhere around 250k new households p.a.), push for rising real wages & higher minimum wages and so on, and stop voting for anyone who won't give them these things.

They could also seek others way to build financial capital such as multi-generational living (as immigrants often do, out of necessity as much as for any other reason) or perhaps starting small family businesses.

I'm not entirely sure that most people have yet 'woken up' to what's happening though and the big danger is that by the time they have power will have been consolidated by those who really don't give a monkeys - as it is clearly attemption to do right now.

I like your post and agree with your suggestions for the lower "classes". However I really don't think enough people have realised yet that living standards and wages are declining with no foreseeable change in this pattern. I think it very possible that there will be trouble from the lower "classes" as inequality deepens.

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I like your post and agree with your suggestions for the lower "classes". However I really don't think enough people have realised yet that living standards and wages are declining with no foreseeable change in this pattern. I think it very possible that there will be trouble from the lower "classes" as inequality deepens.

They might even stop lining up for HTB.

Let them have it... with no buyers remaining, apart for the last of the bomads.

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Don't you usually take a dive from a springboard?

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In terms of property though, they can & should use their political influence to demand housebuilding increases beyond the equilibirium rate (which appears to be somewhere around 250k new households p.a.), push for rising real wages & higher minimum wages and so on, and stop voting for anyone who won't give them these things.

They could also seek others way to build financial capital such as multi-generational living (as immigrants often do, out of necessity as much as for any other reason) or perhaps starting small family businesses.

I'm not entirely sure that most people have yet 'woken up' to what's happening though and the big danger is that by the time they have power will have been consolidated by those who really don't give a monkeys - as it is clearly attemption to do right now.

Ah the good old push for a few more pounds per week, to help FTBs to afford house prices that have been hyperinflated.

Let the over-stretched keep position, the bomads too, same for BTLers... and actually allow them to keep doing so into the future, using their locked-in equity (none-crash) as we get our few more pounds in earnings.

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