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Govt to offer financial guarantees to banks to lend 95% mortgages and abandon post credit crunch regulation


Si1

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HOLA441
 

Like CV19 ?

House prices up 5% since then :lol: 

Slightest hint of trouble and it's another 500Bn for the banks, lower IRs and more "help" schemes.

When the currency collapse comes no one wil be buying a house regardless.

IMHO the effects of CV19 have merely been deferred.  

When there's no real economy of which to base lending on, NINJA loans is what it'll take next.  

But yes agreed, buying a house should actually be the least of one's concerns right now.... 

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HOLA442
 

IMHO the effects of CV19 have merely been deferred.  

When there's no real economy of which to base lending on, NINJA loans is what it'll take next.  

But yes agreed, buying a house should actually be the least of one's concerns right now.... 

Deferred, yes, till they can wheel out the next prop, this one is a serious prop too, pushing up the bottom of the pyramid. 


They will help you buy any old s**t so it keeps their house prices at crazy levels out of kilter with any kind of economic logic.

Accept your £400,000 shoe box and be done with.

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HOLA443
 

If they can keep the real economy going, maybe.  As posted elsewhere in this thread, that's the real problem this time.  Will they give mortgages to the jobless?

The only people I know who are now jobless as a result of covid are those on minimum wage or just above who would of not been able to get a mortgage anyways, don't know of any one on a reasonable income being made redundant. They will still be able to buy, unless there is some sort of financial crisis like last time which will prevent them from buying and prices will have to come down naturally, but government will intervene as allways unfortunately. 

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HOLA444
 

Deferred, yes, till they can wheel out the next prop, this one is a serious prop too, pushing up the bottom of the pyramid. 

 

I'll try find it later, but I read an interesting report showing that with every central bank "intervention" recently the actual impotence / effect to the real economy has become so poor that even the USA are now considering a digital dollar is to the next way to overcome disruptive events.

Eventually the drugs stop working too.

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HOLA445
 

The only people I know who are now jobless as a result of covid are those on minimum wage or just above who would of not been able to get a mortgage anyways, don't know of any one on a reasonable income being made redundant. They will still be able to buy, unless there is some sort of financial crisis like last time which will prevent them from buying and prices will have to come down naturally, but government will intervene as allways unfortunately. 

Kind of - many mid level jobs are dependant on those minimum wage jobs.  Deferred effects.  I know many big earners who are sitting jobless right now, and that's in the lucrative tech industry (!).  Never seen that before.

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HOLA446
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HOLA447
 

Surely it is part of the plan. Have you all seen the proposals to build over most of the Home Counties? There are central Govt orders to the local councils to build, build, build.

Where I live, the council is planning a massive new estate on the edge of town, and vast new satellite expansions of two adjacent villages. 40 miles from London. The only way people will be able to afford to buy all these new houses, given current land prices and building costs, is if mortgages are almost free. Courtesy of taxpayer money.

The problem is that this 'demand' for housing is driven by immigration. How many immigrants are going to want to come to post-Brexit post-covid Britain?

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HOLA448
 

This is the new capitalism communism, the sooner people adjust the better. The conservaties will continue to borrow heavily.

Had to correct this.  The Tories were all about 'free markets' until the whole economic and political focus shifted towards keeping the bent housing ponzi alive.

Now the property market is a state controlled 'free market'..........lol

This country is becoming more retarded by the day.

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HOLA4410
 

Had to correct this.  The Tories were all about 'free markets' until the whole economic and political focus shifted towards keeping the bent housing ponzi alive.

Now the property market is a state controlled 'free market'..........lol

This country is becoming more retarded by the day.

What really boils my p1ss is that the working classes would be better off WITHOUT these interventions. These are interventions designed to maintain inequality. Same thing with current education policy forcing poor kids to compete with rich ones in unsuitable academic qualifications that prevent them getting jobs. A benefits system that outright prevents the accrual of savings.

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HOLA4411
 

IMHO the effects of CV19 have merely been deferred.  

When there's no real economy of which to base lending on, NINJA loans is what it'll take next.  

But yes agreed, buying a house should actually be the least of one's concerns right now.... 

Yep agreed, its all about perception management.

unfortunately i fear we will wake up to a totalitarian nightmare.

 

"Beam me up Scotty".

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HOLA4412
 

Yep agreed, its all about perception management.

unfortunately i fear we will wake up to a totalitarian nightmare.

 

"Beam me up Scotty".

Interesting you say that, I've been checking the comments on the daily mail article.  Are you lot posting or is that the general public's view? 😂 The sentiment is really negative. 

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HOLA4413
 

Very good.

I did this over a decade ago and it's worked out well for my mental health. Avoiding tax by working less, and lumping the remaining income over tax bands into a pension that will exceed what I'll ever hopefully need. This is becoming increasingly difficult due to my luck with having a great job at the moment (touch wood) but I'll still do what I can.

Then it's buggering off and becoming a nomad in retirement, presuming in 15 years you can travel relatively freely again. 

I hate every penny i pay in tax knowing in part it's going on these schemes.

If housing was a free market my life would be different  - I'd probably be working full time, maximising the potential of my earnings and be paying some crazy amount to HMRC without a hint of complaint. I doubt I'd be happier than I am now though I'd I was on that treadmill, so I'm good with it.

 

This is a big misunderstanding. Schemes like help to buy are buy now pay later government. We are kicking the can down the road with the government underwriting private sector risk or deferring liabilities. 

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HOLA4414

This is potentially worrying news for anyone hoping house prices might actually fall.

Bojo is going to announce this to a great fanfair no doubt at this week’s Tory virtual party conference.

The articles I have read said that he has asked ministers to look at this and develop the relevant detail to actually implement this. It is not ready yet and is an idea.

When could it conceivably become real policy and implemented do people think? Weeks, months, years?

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HOLA4415
 

Interesting you say that, I've been checking the comments on the daily mail article.  Are you lot posting or is that the general public's view? 😂 The sentiment is really negative. 

Thats great to hear , thanks they used to filter and turn off comments that went against their narrative. 

Perhaps overwhelmed.

sounds like the sheeple are waking up to the reality of what has fallen upon us.

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HOLA4416
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HOLA4417
 

Interesting you say that, I've been checking the comments on the daily mail article.  Are you lot posting or is that the general public's view? 😂 The sentiment is really negative. 

Have noticed sentiment on Daily Mail comments has become very anti-Boris and cynical of government motives.

I'm sure this is coming from burnt Brexiters who bought the meassge of taking back from control from Brussels would result in a low tax libertarian small government.

Instead they've elected national socialists who want to meddle in the private sector to ensure the trough is full for the 1% with policies in populist wrappers. 

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HOLA4418
 

This is potentially worrying news for anyone hoping house prices might actually fall.

Bojo is going to announce this to a great fanfair no doubt at this week’s Tory virtual party conference.

The articles I have read said that he has asked ministers to look at this and develop the relevant detail to actually implement this. It is not ready yet and is an idea.

When could it conceivably become real policy and implemented do people think? Weeks, months, years?

BTW, in answer I dont read MSM other than to see what narative/direction  they are trying to heard the flock

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HOLA4419
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HOLA4420
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HOLA4421
 

What really boils my p1ss is that the working classes would be better off WITHOUT these interventions. These are interventions designed to maintain inequality. Same thing with current education policy forcing poor kids to compete with rich ones in unsuitable academic qualifications that prevent them getting jobs. A benefits system that outright prevents the accrual of savings.

+1

The real message is know your place. Social mobility is nosense that perpetuates the myth that some are more worthy than others. 

We really need equality of opportunity rather than selling pipe dreams to the young that if you work hard you will prosper. You can't unless you are very lucky. 

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HOLA4422
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HOLA4423
15 minutes ago, AndyRB5 said:

This is potentially worrying news for anyone hoping house prices might actually fall.

Bojo is going to announce this to a great fanfair no doubt at this week’s Tory virtual party conference.

The articles I have read said that he has asked ministers to look at this and develop the relevant detail to actually implement this. It is not ready yet and is an idea.

When could it conceivably become real policy and implemented do people think? Weeks, months, years?

I'm guessing to pick up at the end of the stamp duty holiday?

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HOLA4424
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HOLA4425
 

Property is now the opium of the people. 

Can't disagree with that.  Just heard of a friend who's buying a £500K house.

She's a teacher.

She's rich.

Solder her ex-council house for £300K.

I'd say this was crazy but it seems we are the crazy ones.

My advice is now, buy a slave box or leave the UK.

A crash is inevitable but will now be so devastating that you'll be lucky to be able to afford a loaf never mind a house.

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