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Let's hope it continues, unfortunately you can expect all sorts of stimulus/bailout measures to 'counteract an extremely unexpected situation caused by the coronavirus'.

Big, scary crises are the perfect time to get all sorts of bonkers measures past the public and parliament.  Though to be honest, I don't think politicians would need any excuse to plough public money into buoying the property market.

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29 minutes ago, Sour Mash said:

Let's hope it continues, unfortunately you can expect all sorts of stimulus/bailout measures to 'counteract an extremely unexpected situation caused by the coronavirus'.

Big, scary crises are the perfect time to get all sorts of bonkers measures past the public and parliament.  Though to be honest, I don't think politicians would need any excuse to plough public money into buoying the property market.

It seems the British people are only too willing to accept any help to pay more for shelter.

The MSM could be screaming from the treetops "DONT BUY A HOUSE YOU WILL LOSE MONEY" and people would think the MSM were only trying to keep them for themselves.

The UK is gone now.  Sit back and watch the collapse over the next decade or so.  

My hope is when it comes we see the 1000 year old royals and land owners destroyed.

Edited by TheCountOfNowhere
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Interesting indeed. I am actually sanguine about the rises recorded by Nationwide and Halifax as I think it reduces the likelihood of more props from the gov in the Autumn Statement. The stamp duty cut might have been the main form of support. Headlines about house price rises with references to the stamp duty cut. Job done....I hope!

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Great news but I wonder what proportion of the current mortgage market is 85% LTV plus...I expect most buyers pushing and shoving to over pay at the moment have existing free housing wealth and are <85%.  Easy come easy go...who in their right mind would buy now at possibly the most risky time to ever buy a house with mostly real earned or borrowed money?

 

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3 hours ago, Wayward said:

Great news but I wonder what proportion of the current mortgage market is 85% LTV plus...I expect most buyers pushing and shoving to over pay at the moment have existing free housing wealth and are <85%.  Easy come easy go...who in their right mind would buy now at possibly the most risky time to ever buy a house with mostly real earned or borrowed money?

 

Think how stupid the average person is, then realise exactly 50% are more stupid than that. 

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6 minutes ago, Orb said:

Think how stupid the average person is, then realise exactly 50% are more stupid than that. 

House prices would never have gotten to such extremes, with bankers being handed free money to keep it going, if people weren't property thick.

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21 minutes ago, Orb said:

Think how stupid the average person is, then realise exactly 50% are more stupid than that. 

We're buying. House prices would need to drop by almost 1% a month for us to be down overall if and when we sell. Yes we might get a discount if we wait six months but we'll definitely have missed out on £10k savings and every time the housing market has looked a bit wobbly the government has pumped it up again. I wouldn't be particularly surprised if house prices were up in six months.

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12 minutes ago, This time said:

We're buying. House prices would need to drop by almost 1% a month for us to be down overall if and when we sell. Yes we might get a discount if we wait six months but we'll definitely have missed out on £10k savings and every time the housing market has looked a bit wobbly the government has pumped it up again. I wouldn't be particularly surprised if house prices were up in six months.

My personal (outdated) maths showed that the price needed to drop by 11% max over 5 years to break even. 

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5 hours ago, TheCountOfNowhere said:

1000 year old royals and land owners destroyed

There is a reason that they have vast amounts of unearned wealth accumulated over multiple generations. Like cockroaches they will survive any sort of fallout.

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5 hours ago, Huggy said:

I wonder if the BBC will position this news in their articles in this way?

"Mortgage rates have improved...."

or "The recovery in the price of mortgages..."

Mortgage rates only ever go up?

Rent paid to your landlord so he can pay his mortgage to a bank is dead money but interest paid on a mortgage paid by you to a bank is not! 

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6 minutes ago, MARTINX9 said:

Mortgage rates only ever go up?

Rent paid to your landlord so he can pay his mortgage to a bank is dead money but interest paid on a mortgage paid by you to a bank is not! 

No because then you are getting on with your life, please do try and keep up 😉

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25 minutes ago, MARTINX9 said:

Mortgage rates only ever go up?

Rent paid to your landlord so he can pay his mortgage to a bank is dead money but interest paid on a mortgage paid by you to a bank is not! 

Worth noting that first decade of paying a mortgage you hardly make a dent in the capital owed. Peiple buying 2010 havent made much equity via mortgage payments. 

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4 minutes ago, TheCountOfNowhere said:

Worth noting that first decade of paying a mortgage you hardly make a dent in the capital owed. Peiple buying 2010 havent made much equity via mortgage payments. 

Really not the case at these low interest rates. 

Even from the start on a normal mortgage term of 25 or 30 years its mostly capital. 

 

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11 minutes ago, captainb said:

Really not the case at these low interest rates. 

Even from the start on a normal mortgage term of 25 or 30 years its mostly capital. 

 

That's ********, all they've done is lower the monthly payments so people feel comfortable borrowing more. Same mortgage repayment principles apply, otherwise the 25 year mortgages would be paid off in 10, reality is, its niw 30, 35, 40 year mortgages now meaning even more interest repayments. 

 

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9 minutes ago, TheCountOfNowhere said:

That's ********, all they've done is lower the monthly payments so people feel comfortable borrowing more. Same mortgage repayment principles apply, otherwise the 25 year mortgages would be paid off in 10, reality is, its niw 30, 35, 40 year mortgages now meaning even more interest repayments. 

 

Accept its not... 

Its basic maths. If you borrow say 100,000 and the interest rate is 10% the composition of that 1st months payment is inherently different to if the rate 2%.

Payment amount is adjusted accordingly to get to 0 after 25 years. . But the % interest and capital is dependent on the interest rate (Assuming £ payment is the same based on both ) 

Edited by captainb
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52 minutes ago, captainb said:

Really not the case at these low interest rates. 

Even from the start on a normal mortgage term of 25 or 30 years its mostly capital. 

 

Agree. My repayment mortgage payment taken in August 2016 is £1600 pcm at a rate of about 2.5% . Pretty much from month 1 the rough split is £600 interest and £1000 capital, which slowly adjusts to more and more capital each month. 

4 years in now and my capital owed has gone down slightly more than £48k.

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Just now, markyh said:

Agree. My repayment mortgage payment taken in August 2016 is £1600 pcm at a rate of about 2.5% . Pretty much from month 1 the rough split is £600 interest and £1000 capital, which slowly adjusts to more and more capital each month. 

4 years in now and my capital owed has gone down slightly more than £48k.

Yep. Mine was £360k eek at the start over 25 years. First payment £1,563 split £512 interest and £1, 051 capital. 

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2 minutes ago, captainb said:

Yep. Mine was £360k eek at the start over 25 years. First payment £1,563 split £512 interest and £1, 051 capital. 

Less for me but it was over £300k, but we went for a 20 year term as i didn't want the mortgage past 67, final house, so i want the old model of its paid for the year i reach state pension age and retire. that way to wife can still work another 3 years, we will be £1615 pcm better off,  so only retirement income from me for 3 years will balance out, then when she retires we then have to tighten our belts but wont have any rent / mortgage to worry about. 

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4 minutes ago, markyh said:

Less for me but it was over £300k, but we went for a 20 year term as i didn't want the mortgage past 67, final house, so i want the old model of its paid for the year i reach state pension age and retire. that way to wife can still work another 3 years, we will be £1615 pcm better off,  so only retirement income from me for 3 years will balance out, then when she retires we then have to tighten our belts but wont have any rent / mortgage to worry about. 

All makes sense. 

I would love a house price crash to trade up. Hoping for a 10% or so fall following furlough ending etc and looking in zone 2 london. 

However see no point in just stating nonsense such as banks are not lending or all the mortgage is interest. 

Anyone with common sense knows thats divorced from reality 

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  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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