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The repo man doesn't cometh, well not till July


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Its only a total of 6 months though, so in theory people may struggle in the new year if they already had 6 months of deferred payments.

The quote below is more interesting should the government not provide further support

 

The financial watchdog also said no one should have their home repossessed without their agreement until after 31 January 2021.

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"Borrowers who have already had a full six months of payment deferrals will not be eligible for a further payment deferral. But firms will provide tailored support appropriate to their circumstances. This may include the option to defer further payments."

Quick sp*nk up your payment holiday before it goes

 

Holding bank repossessions till 31st Jan, especially when the market turns, will make them very jittery and wanting to repo ASAP.  If Rishi wants to extend and pretend, the banks will start booking losses and holding back on credit.

 

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Its only a total of 6 months though, so in theory people may struggle in the new year if they already had 6 months of deferred payments.

The quote below is more interesting should the government not provide further support

 

The financial watchdog also said no one should have their home repossessed without their agreement until after 31 January 2021.

That's one hell of a can kick. 

 

The property owning elite will do everything they can to stop house prices falling, its a massive fraud. 

I think, all joking aside, everyone should be worried about the extent these criminals have and could go to, even the trolls. 

What sort of a country do peopke want to live in, not many would want this level of blatant market manipulation and corruption,i would hope. 

 

It's a scorched earth policy now, its protect their own wealth at all costs. 

This is both dangerous and dangerous 

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"Borrowers who have already had a full six months of payment deferrals will not be eligible for a further payment deferral. But firms will provide tailored support appropriate to their circumstances. This may include the option to defer further payments."

Quick sp*nk up your payment holiday before it goes

 

Holding bank repossessions till 31st Jan, especially when the market turns, will make them very jittery and wanting to repo ASAP.  If Rishi wants to extend and pretend, the banks will start booking losses and holding back on credit.

 

Sp theyll allow 6 months and some more anyway. 

 

Free housing for the rich 

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Joke. Housing in this country is a sick joke. I look at those i know with a nice house and think "yeah, I'd like a bit of that". Then I discover how much they paid! I just want it all to go away. Ignore housing as one would a troll, if one can. Mental health is more important. Leave the market to it. Fill life with something else.

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The longer repos are suspended, the less mortgages/new business the banks will do.

Its that simple.

 

 

+1  The more banks are exposed, the more they will hedge by lowering credit elsewhere...or begging a new set of props from BoE.  The Tories are risking another Black Wednesday thinking they can play against gravity indefinitely.

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Joke. Housing in this country is a sick joke. I look at those i know with a nice house and think "yeah, I'd like a bit of that". Then I discover how much they paid! I just want it all to go away. Ignore housing as one would a troll, if one can. Mental health is more important. Leave the market to it. Fill life with something else.

I was just going to start a thread along those lines....

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I was just going to start a thread along those lines....

I was one of those advocating patience. Now I've given up. It's just so depressing to even think about. HPC has made me feel some connection with others over the housing issue. I'm now not sure it is helping anymore because I dread another round of "this time it's going to happen" positivity that comes to nothing. 

 

So yeah block it out, only its hard to. Ill set a notification on my phone to wake me up at 50% drops, because until then I can't play, financially or emotionally.

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I was one of those advocating patience. Now I've given up. It's just so depressing to even think about. HPC has made me feel some connection with others over the housing issue. I'm now not sure it is helping anymore because I dread another round of "this time it's going to happen" positivity that comes to nothing. 

 

So yeah block it out, only its hard to. Ill set a notification on my phone to wake me up at 50% drops, because until then I can't play, financially or emotionally.

Ever wonder what it feels like to be the last bear?

 

 

+1  The more banks are exposed, the more they will hedge by lowering credit elsewhere...or begging a new set of props from BoE.  The Tories are risking another Black Wednesday thinking they can play against gravity indefinitely.

They aren't risking it...it is baked in. It is going to happen. The question is the magnitude and the longer they drag this out, the worse it is going to be.

I think it will become self feeding. Banks can't repo, they can't demand repayment. That means they won't lend unless your credit is impeccable. Interest rates rise because they can't make money on mortgages. Fewer people able to buy at the prices...people can't sell so default defer on their mortgages. Banks can't repo, so they have to tighten lending standards and raise interest elsewhere.

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  • 439 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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