juvenal Posted February 10, 2015 Share Posted February 10, 2015 (edited) http://www.dailymail.co.uk/news/article-2948079/Buy-home-say-experts-mortgage-rates-hit-record-low-ve-got-decent-deposit.html Wasn't the Telegraph saying the same today? 'Experts said two-year fixed rates could fall below 1 per cent while five-year mortgages could go below 2 per cent' Edited February 10, 2015 by juvenal Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted February 10, 2015 Share Posted February 10, 2015 http://www.housepricecrash.co.uk/forum/index.php?/topic/203193-borrow-now/?p=1102667653 Sky News are cheerfully reporting the Mail headline as........... "Good news for home buyers on the Mail front page, experts say the next six months could be the best time ever to take out a mortgage". Well, yes, if your your aim is to spend as much as you can borrow on an overpriced illiquid asset, it probably is . Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted February 11, 2015 Share Posted February 11, 2015 no, that message is to reassure the reticent, that everyone else will get in while its cheap, using fear of missing the boat as the tool to get people to make that commitment. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted February 11, 2015 Share Posted February 11, 2015 Heard that on talk houses ( sport ) on the way to work. They said...best time every to take out a mortgage....because.......drum rool please.....no one is buying a house. Isn't that the worse time to take out a mortgage ? The music just stopped. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted February 11, 2015 Share Posted February 11, 2015 Best time to borrow money - because its cheap. Worst time to spend it - because prices are sky high. Quote Link to comment Share on other sites More sharing options...
Gerinako Posted February 11, 2015 Share Posted February 11, 2015 Meanwhile I'm considering ways I can avoid a mortgage. 6 years in a place I deem a "$hithole" Come back & buy a house in cash at the sweet age of 34 Only one problem with that though - I may go insane.... Quote Link to comment Share on other sites More sharing options...
billybong Posted February 11, 2015 Share Posted February 11, 2015 Best time to get a mortgage to try to support house prices just before the general election. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 11, 2015 Share Posted February 11, 2015 The Mail article even has a photo of the size of the house you'll get in the UK. Quote Link to comment Share on other sites More sharing options...
billybong Posted February 11, 2015 Share Posted February 11, 2015 (edited) In the Thisismoney video at the end of the Mail article they spent 8.34 minutes saying how cheap mortgages are but didn't mention how absurdly expensive house prices are. They didn't even mention the level of house prices. "This is Money is part of the Daily Mail, Mail on Sunday & Metro media group" Edited February 11, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
mmt Posted February 11, 2015 Share Posted February 11, 2015 What better than the 1970s when interest rates were high but wage inflation was higher (= negative real interest rates), so high that the mortgage was peanuts after a few years and you could upsize? Maybe not. Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted February 12, 2015 Share Posted February 12, 2015 The Mail article even has a photo of the size of the house you'll get in the UK. Was it to actual size? Quote Link to comment Share on other sites More sharing options...
billybong Posted February 12, 2015 Share Posted February 12, 2015 (edited) Was it to actual size? Pretty close - did you look at the photo. Edited February 12, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
Neverwhere Posted February 12, 2015 Share Posted February 12, 2015 Pretty close - did you look at the photo. Have just done so, it's uncharacteristically accurate for the Mail! Quote Link to comment Share on other sites More sharing options...
200p Posted February 12, 2015 Share Posted February 12, 2015 Capital in the 21st Century. The people (normal people) are finding it hard to scrabble around trying to save enough capital of meaningful size to put down for a deposit for a house. They have to lower rates to such absurd levels just to get on the ladder, and once they are on it, they will still find it hard to save capital for their own business, or savings. This is f***ed up. Quote Link to comment Share on other sites More sharing options...
silver surfer Posted February 12, 2015 Share Posted February 12, 2015 Capital in the 21st Century. The people (normal people) are finding it hard to scrabble around trying to save enough capital of meaningful size to put down for a deposit for a house. They have to lower rates to such absurd levels just to get on the ladder, and once they are on it, they will still find it hard to save capital for their own business, or savings. This is f***ed up. Neal Hudson has a useful chart on deposits, for a UK first time buyer the average deposit peaked at just over 100% of annual income in late 2009, it's fallen ever since and is now under 70%. London, as you might expect, is a different story, a first time buyer in London needs a deposit equal to about 120% of their income and apart from the last couple of months the trend line is climbing. There's lots more interesting stuff on his site, https://twitter.com/resi_analyst Quote Link to comment Share on other sites More sharing options...
200p Posted February 13, 2015 Share Posted February 13, 2015 ^ Thanks I will take a look. Quote Link to comment Share on other sites More sharing options...
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