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Sausage

RICS survey

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4 hours ago, mrtickle said:

GET IN! -22%!

Rics.png.5420eb886bd3e5a9c4ebbe2a542c484b.png

Beautiful. Can't see the full report yet. Headline comment:

Resolution of the Brexit negotiations is widely seen as critical to encouraging potential buyers back into the market, although whether that will be sufficient in London and parts of the South East where affordability remains stretched and the tax changes are most penal remains to be seen.

Simon Rubinsohn
RICS chief economist

Edited by Sausage

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2 hours ago, Sausage said:

Beautiful. Can't see the full report yet. Headline comment:

Resolution of the Brexit negotiations is widely seen as critical to encouraging potential buyers back into the market, although whether that will be sufficient in London and parts of the South East where affordability remains stretched and the tax changes are most penal remains to be seen.

Simon Rubinsohn
RICS chief economist

just need more of this drip drip into the main steam for the public to become more bearish on prices

 

however a quick look on mumsnet suggests as long as there is credit available they will max out on their "dream home"

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1 hour ago, hurlerontheditch said:

just need more of this drip drip into the main steam for the public to become more bearish on prices

 

however a quick look on mumsnet suggests as long as there is credit available they will max out on their "dream home"

There isnt though. MMR hits thats.

Sure  theres ads but the reality of getting a mortgage over 4x lte is zilch.

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1 hour ago, spyguy said:

There isnt though. MMR hits thats.

Sure¬† theres ads but the ÔĽŅreality of getting a mortgage ÔĽŅover 4x lte is zilch.ÔĽŅ

I can get 5 times my salary easily - the problem is HTB where overpriced property becomes affordable with minimal deposit.

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2 hours ago, spyguy said:

There isnt though. MMR hits thats.

Sure  theres ads but the reality of getting a mortgage over 4x lte is zilch.

No.

 

MMR just extends the term

 

doesn‚Äôt do anything to ‚Äėaffordability‚Äô¬†

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4 hours ago, spyguy said:

Sure  theres ads but the reality of getting a mortgage over 4x lte is zilch.

There's a thread on MSE suggesting Barclays aren't lending at all on HMO.

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3 hours ago, thewig said:

No.

 

MMR just extends the term

 

doesn‚Äôt do anything to ‚Äėaffordability‚Äô¬†

Exactly.

 

People actually end up spending more on interest payments over a long repayment period under the guise of ''stricter lending criteria''

 

''War is piece'' etc etc

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5 hours ago, darkmarket said:

There's a thread on MSE suggesting Barclays aren't ÔĽŅlending at all on HMO.

Assuming those acronyms don't mean something else, What the hell are MSE users doing buying an HMO... That being said I did meet a (really nice) former teacher, caricaturist that had purchased a HMO in Birmingham. 

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1 hour ago, Council estate capitalist said:

Assuming those acronyms don't mean something else, What the hell are MSE users doing buying an HMO... That being said I did meet a (really nice) former teacher, caricaturist that had purchased a HMO in Birmingham. 

A former maths teacher, by any chance?

 

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9 hours ago, Council estate capitalist said:

Assuming those acronyms don't mean something else, What the hell are MSE users doing buying an HMO... That being said I did meet a (really nice) former teacher, caricaturist that had purchased a HMO in Birmingham. 

Fair point, two acronyms is a bit much: the MoneySavingExpert user was claiming it was for family use, but said Barclays now have a policy of not lending on houses registered for multiple occupancy.

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How many of your regular high st EAs are members of RICS....? Is this bias towards top end of market??

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1 hour ago, darkmarket said:

Fair point, two acronyms is a bit much: the MoneySavingExpert user was claiming it was for family use, but said Barclays now have a policy of not lending on houses registered for multiple occupancy.

Maybe the house has to be converted back to single occupancy before a mortgage is available? Lender wary of people taking out an owner occupier mortgage but renting out HMO undeclared.

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3 minutes ago, Sausage said:

Maybe the house has to be converted back to single occupancy before a mortgage is available? Lender wary of people taking out an owner occupier mortgage but renting out HMO undeclared.

Could be, especially if the house was divided into bedsits. You'd need to update its registered use as well, time and money.

Just another element adding to the downward pressure, thought I'd shoehorn it into the RICS thread.

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16 hours ago, nome said:

Exactly.

 

People actually end up spending more on interest payments over a long repayment period under the guise of ''stricter lending criteria''

 

''War is piece'' etc etc

MMR has started, its not finished.

As it stands, there are very few lenders that will let yoyu extend a mortgage over retirement age.

 

Edited by spyguy

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Scotland fairing well...... generally property in the higher price bracket not doing so well as property in the lower price bracket in better areas.

Jeremy Leaf, FRICS, Finchley, 
Jeremy Leaf & Co, jeremy@
jeremyleaf.co.uk - Release of 
pent-up supply and demand 
prompted better than expected 
listings, viewings and offers over 
the last few weeks despite Brexit 
concerns. Nevertheless, interest 
is patchy and real value must be 
perceived otherwise little change will result.

 

Therefore little change until prices of certain property falls to real value......no good jumping on the bandwagon, that left long ago.;)

 

 

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35 minutes ago, Wayward said:

How many of your regular high st EAs are members of RICS....? Is this bias towards top end of market??

Yes.

CSs is a sort of made up profession, by the building societies.

Used to be lucrative i nthe 80s.

Now picking fag ends off he floor with the tramps - self employed, waaaaay to many CS chasing too little business.

 

 

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