Si1 Posted October 12, 2017 Share Posted October 12, 2017 11 minutes ago, Kosmin said: Vince Cable's dead against it: Vince Cable warns Help to Buy could create new 'bubble' - BBC News www.bbc.co.uk/news/business-23482525 28 Jul 2013 - A flagship government scheme to revive the housing market could inflate it, Business Secretary Vince Cable warns. ... "I am worried of the danger of getting into another housing bubble," Mr Cable told the BBC's Andrew Marr Show. ... "Given the current situation with the economy I think we ... Vince Cable urges caution over help-to-buy mortgage scheme ... https://www.theguardian.com › Politics › Vince Cable Cached 11 Sep 2013 - The business secretary, Vince Cable, said the government should not introduce the help-to-buy mortgage scheme in January. Photograph: ... Vince Cable warns Help to Buy could trigger new house price bubble ... https://www.theguardian.com › Politics › Vince Cable Cached 28 Jul 2013 - Vince Cable has warned that the Treasury's Help to Buy scheme could trigger a house price bubble. The business secretary said he was ... Well a vote for libdems as kingmakers in the next GE seems my choice. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted October 12, 2017 Share Posted October 12, 2017 3 hours ago, BLOW FLY said: Sitting in my local last night I was earwiging a conversation between some people in the area for a conference all about mortgages and house finance etc. The guys were not your average EA or broker types talking they appeared to be several levels above that judging by the way they were talking and cars being driven. Anyway they were having an in-depth discussion specifically about second hand homes on HTB schemes and how they were targeting finance on these type of homes for people wanting to buy them or currently living in them and unable to sell or remortgage when the HTB period ended. The general idea seemed to revolve around the purchaser having minimum 10% deposit they would ‘settle’ out the HTB part of the loan with the government and the purchaser slowly ‘buys’ via monthly ‘rental scheme’ the remaining % of the property back from them, The rental yield quoted was minimum 4.8% (internally). The elder gent (who introduced himself to me as the Chairman of the conference before his two colleagues arrived) quickly commented how the ‘rental’ side of the equation would have to be rather high for it to work which was indeed how it was supposed to work with the whole process being rinsed and repeated at the end of every fixed term. Sorry if it sounds a bit vague but that was the general gist of it and I unfortunately had to leave. BF Which sounds suspiciously like a shared ownership model. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted October 12, 2017 Share Posted October 12, 2017 13 minutes ago, Si1 said: Well a vote for libdems as kingmakers in the next GE seems my choice. Lol, how did that go in 2010? I suspect next time they’ll privatise the National health service for under-35s. seriously if you’re taking Vince’s word for something prepare to be disappointed. Quote Link to comment Share on other sites More sharing options...
Si1 Posted October 12, 2017 Share Posted October 12, 2017 3 minutes ago, EmmaRoid said: Lol, how did that go in 2010? I suspect next time they’ll privatise the National health service for under-35s. seriously if you’re taking Vince’s word for something prepare to be disappointed. Vince Cable wasn't leader of the libdems then, or have I missed something? Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted October 13, 2017 Share Posted October 13, 2017 On 12/10/2017 at 1:17 PM, Si1 said: Vince Cable wasn't leader of the libdems then, or have I missed something? Are you saying Nick Clegg and Vince Cable are not the same person in two different bodies? That's nuts. Quote Link to comment Share on other sites More sharing options...
Venger Posted October 13, 2017 Share Posted October 13, 2017 (edited) On 12/10/2017 at 1:13 PM, EmmaRoid said: Lol, how did that go in 2010? I suspect next time they’ll privatise the National health service for under-35s. seriously if you’re taking Vince’s word for something prepare to be disappointed. The Times today - Dukes of Westminster's £8bn fortune escapes death duties -Spreadsheet Phil needs to be more radical. (.......One interesting idea doing the rounds in the Tory party would be to introduce a new reduced rate of income tax for those under 30: a 15 percent rate, say, rather than 20 percent. It would only cost a couple of billion pounds and would in one fell swoop answer concerns about student debt and intergenerational inequality. But far more important than anything else is generating a big dose of productivity. Here the omens are not promising. This week the OBR finally ditched its long-held view that an increase in Britain's productivity is just around the corner.) -Banks turn off the taps to consumers -Surge in buyers lifts mortgage lending. Mortgage lending rose in August on the back of the strongest demand from home movers in more than a year, according to the latest figures from UK Finance. The total number of loans for house purchases jumped 7.6 per cent to 129,500 between July and August to reach a total value of £23.6 billion. ....... First time buyer activity rose by 13.5 percent month on month, and by 8.9 percent compared with the same month a year ago, while the value of those loans climbed 16 per cent on July to £5.7 billion. .......................Separate figures from LMS showed a record number of remortgagers took out five-year fixed rates in August as borrowers looked to head off a potential rise in interest rates. .......... Edited October 13, 2017 by Venger Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 13, 2017 Share Posted October 13, 2017 4 minutes ago, Venger said: The Times today - Dukes of Westminster's £8bn fortune escapes death duties -Spreadsheet Phil needs to be more radical. (.......One interesting idea doing the rounds in the Tory party would be to introduce a new reduced rate of income tax for those under 30: a 15 percent rate, say, rather than 20 percent. It would only cost a couple of billion pounds and would in one fell swoop answer concerns about student debt and intergenerational inequality. But far more important than anything else is generating a big dose of productivity. Here the omens are not promising. This week the OBR finally ditched its long-held view that an increase in Britain's productivity is just around the corner.) -Banks turn off the taps to consumers -Surge in buyers lifts mortgage lending. Mortgage lending rose in August on the back of the strongest demand from home movers in more than a year, according to the latest figures from UK Finance. The total number of loans for house purchases jumped 7.6 per cent to 129,500 between July and August to reach a total value of £23.6 billion. ....... First time buyer activity rose by 13.5 percent month on month, and by 8.9 percent compared with the same month a year ago, while the value of those loans climbed 16 per cent on July to £5.7 billion. .......................Separate figures from LMS showed a record number of remortgagers took out five-year fixed rates in August as borrowers looked to head off a potential rise in interest rates. .......... Bankers say...we will raise rates...fools rush in . F##k all happens. Is there a name for lying to gain financial advantage? Quote Link to comment Share on other sites More sharing options...
Venger Posted October 19, 2017 Share Posted October 19, 2017 Quote Theresa May has pledged to overhaul the tuition fees system and spend £10 billion helping first-time buyers in an effort to win over young voters. Haven't read all the thread - I usually do, but the announcement of TM and more HTB really took it out of me for a couple of days. Although there were warnings. I always try to confront reality, but just held the hope they didn't really mean it. Schemes/HTB... help help help young, but can't allow prices to fall, or BTL to be banned/made prohibitively expensive. On 21/06/2017 at 4:07 PM, Tempus said: Just now in the Commons, May has confirmed that the answer to the housing crisis and the problem of the young not being able to afford homes is, as well as building more homes, a question of "keeping the schemes going". She mentioned help to buy and shared ownership. So that's your answer as to what they'll do. First Carney confirms no interest rate rise. Now May confirms keep the props going. On 21/06/2017 at 4:12 PM, Bruce Banner said: Hammond nodding like a "parcel shelf nodding dog" behind her. On 21/06/2017 at 7:16 PM, Tempus said: We now have the exact quote from Hansard: "My hon. Friend is incredibly prescient, because my very next sentence was going to be about tackling the housing crisis that locks so many young people out of the housing market. We do indeed recognise the significance of the housing problem in this country. It is about not only building more houses but keeping going schemes that help people to get on the housing ladder and ensuring greater diversity in the housing market. With rent to buy and shared ownership, there is a variety of opportunities for young people." So the answer to unaffordable housing is simply more props and tricks. Quote Link to comment Share on other sites More sharing options...
Venger Posted October 19, 2017 Share Posted October 19, 2017 Thread for the above. Quote Link to comment Share on other sites More sharing options...
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