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5% Mortgage Guarantee Confirmed


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HOLA441
33 minutes ago, MARTINX9 said:

Even Jeremy Corbyn and John McDonnell backed help to buy.

So I don't think Labour - run from North London or Lib Dems - run from Surbiton are going to do much either to encourage lower house prices.

Not sure where the Greens or Reform UK stand on this.

Of course the SNP has abolished help to buy north of the border.

That's not fair on Corbyn and McDonnell.

Modest support for a continuation of HtB, yes. But also a national program of general needs social housing and a range of support measures for tenants including the right to buy.

https://www.propertyreporter.co.uk/property/cdonnells-right-to-buy-plans-need-careful-debate.html

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HOLA442

Rishi's already in a panic about the vulnerability of the economy re the coming inflationary surge... he's written as much here, so not surprising... a bit of fiddling with deposits while IRs shoot up... um, not going to work is it... but he'll say he tried!

https://www.ft.com/content/ad974b76-a5c3-4615-8b73-72f4063875b2

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HOLA443
3 minutes ago, gruffydd said:

Rishi's already in a panic about the vulnerability of the economy re the coming inflationary surge... he's written as much here, so not surprising... a bit of fiddling with deposits while IRs shoot up... um, not going to work is it... but he'll say he tried!

https://www.ft.com/content/ad974b76-a5c3-4615-8b73-72f4063875b2

Can you quote from the piece, as it's behind a paywall?

Haldane has voiced similar concerns

https://www.reuters.com/article/us-britain-boe-haldane/bank-of-englands-haldane-warns-inflation-tiger-is-prowling-idUSKBN2AQ1K2

Edited by Eddie_George
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HOLA444
4 minutes ago, Eddie_George said:

Can you quote from the piece, as it's behind a paywall?

Haldane has voiced similar concerns

https://www.reuters.com/article/us-britain-boe-haldane/bank-of-englands-haldane-warns-inflation-tiger-is-prowling-idUSKBN2AQ1K2

Theres f-all detail, just vague noises.

Ft link on mortgage

https://www.ft.com/content/6dc4f20e-378e-41b9-8964-b0208871bea7

Theres no change to MMR limits, so no chance of increases.

Usual chorus of EAs counting chickens.

 

 

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HOLA445

I used to resent the cost of a good foreign holiday but I’d tell myself it’s not about me - it’s about the family and the memories. I’d work a few extra hours and try not think about how I’d blown a couple more of months wage while I lay on the beach. 
 

This development has me resigned to the fact prices won’t fall this year, they will continue to edge up.

With the wife taking a career break while the kids are young I’m asking myself if I can’t beat them, should I join them? I’m watching friends blow the budget on big, shiny impressive detached houses. I work long hours to make 3k bottom line - should I just sell up, upsize and join the 400k house crew?!?! What do I have to lose. 

I look at these cost of these mortgages and feel like I’d be getting bent over like the holiday each year, accept it’s every month for 30 years... 

Lads, I’m moving this year 🤛
 

 

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HOLA446
17 minutes ago, Eddie_George said:

Can you quote from the piece, as it's behind a paywall?

Haldane has voiced similar concerns

https://www.reuters.com/article/us-britain-boe-haldane/bank-of-englands-haldane-warns-inflation-tiger-is-prowling-idUSKBN2AQ1K2

As has Larry Summers... 

“Because we now have far more debt than we used to and because interest rates . . . at least a month or two ago were exceptionally low, that means we remain exposed to changes in those rates." - Sunak... stating the obvious but finding the need to state this now... he knows what's coming. 

Edited by gruffydd
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HOLA447
7
HOLA448
Just now, Si1 said:

And Warren Buffet now too

Everyone really knows what comes next... but it will make no difference - Biden is committed... even if he wasn't he'd be forced into the stimulus by his party. It really has nothing to do with the inflationary consequences...everything to do with promises to voters. 

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HOLA449

I used to resent the cost of a good foreign holiday but I’d tell myself it’s not about me - it’s about the family and the memories. I’d work a few extra hours and try not think about how I’d blown a couple more of months wage while I lay on the beach. 
 

This development has me resigned to the fact prices won’t fall this year, they will continue to edge up.

With the wife taking a career break while the kids are young I’m asking myself if I can’t beat them, should I join them? I’m watching friends blow the budget on big, shiny impressive detached houses. I work long hours to make 3k bottom line - should I just sell up, upsize and join the 400k house crew?!?! What do I have to lose. 

I look at these cost of these mortgages and feel like I’d be getting bent over like the holiday each year, accept it’s every month for 30 years... 

Lads, I’m moving this year 🤛
 

 

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HOLA4410
9 minutes ago, gruffydd said:

Everyone really knows what comes next... but it will make no difference - Biden is committed... even if he wasn't he'd be forced into the stimulus by his party. It really has nothing to do with the inflationary consequences...everything to do with promises to voters. 

I noticed after the Biden stimulus was confirmed today bitcoin didn't budge, I think it actually ended up mildly down. So maybe the markets don't think stimulus is bullish for assets anymore. Of course these things are very fickle and could change next week....

Edited by Si1
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HOLA4411
4 minutes ago, Si1 said:

I noticed after the Biden stimulus was confirmed today bitcoin didn't budge, I think it actually ended up mildly down. So maybe the markets don't think stimulus is bullish for assets anymore. Of course these things are very fickle and could change next week....

Bitcoin isn't a measure of anything except naivety. US treasury yields retraced most of their recent gains yesterday.

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HOLA4412
1 hour ago, zugzwang said:

That's not fair on Corbyn and McDonnell.

Modest support for a continuation of HtB, yes. But also a national program of general needs social housing and a range of support measures for tenants including the right to buy.

https://www.propertyreporter.co.uk/property/cdonnells-right-to-buy-plans-need-careful-debate.html

Yes but they still backed help to buy and of course the buy to let Blairites are back in charge of Labour now!

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HOLA4413
3 hours ago, TheCountOfNowhere said:

They have been for some time.  They're not even hiding it.

Boris even said clap for bankers/financiers, they make the wealth.

Boris said severla years ago they know house prices are too high they just cant let them fall.

This is corruption and fraud on a level never seen in modern times.

WTF is happening !!!!!

Your bold explains it, there is no plan B.

 

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HOLA4414
51 minutes ago, Pmax2020 said:

I used to resent the cost of a good foreign holiday but I’d tell myself it’s not about me - it’s about the family and the memories. I’d work a few extra hours and try not think about how I’d blown a couple more of months wage while I lay on the beach. 
 

This development has me resigned to the fact prices won’t fall this year, they will continue to edge up.

With the wife taking a career break while the kids are young I’m asking myself if I can’t beat them, should I join them? I’m watching friends blow the budget on big, shiny impressive detached houses. I work long hours to make 3k bottom line - should I just sell up, upsize and join the 400k house crew?!?! What do I have to lose. 

I look at these cost of these mortgages and feel like I’d be getting bent over like the holiday each year, accept it’s every month for 30 years... 

Lads, I’m moving this year 🤛
 

 

Yes I'm moving... my assets out of the UK before inflation kicks in... all bets are off once it does. 

Edited by gruffydd
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HOLA4415
1 hour ago, Si1 said:

I noticed after the Biden stimulus was confirmed today bitcoin didn't budge, I think it actually ended up mildly down. So maybe the markets don't think stimulus is bullish for assets anymore. Of course these things are very fickle and could change next week....

It goes up when the people start cashing their stimi cheques. 

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HOLA4416
2 hours ago, Si1 said:

I noticed after the Biden stimulus was confirmed today bitcoin didn't budge, I think it actually ended up mildly down. So maybe the markets don't think stimulus is bullish for assets anymore. Of course these things are very fickle and could change next week....

they'll shift with the data - no doubt about that. 

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HOLA4417

As. Promised on the first page, I went out and bought a house today. To be fair the price is reasonably good...vendor suited and sale due to one or more of the 3Ds. Reduced twice now. If it all goes through I will be quite happy. If it doesn’t, I am a little less fearful after hearing that this and another house we looked at 3 days ago had a few offers accepted, then fall through due to redundancies. Happening a lot. 5X zero income ain’t gonna buy a lot of house. I made an offer on a house the other 15k below asking, they came back with 10k below asking, I walked away. They then said they accept my offer, but by then I’d changed my mind. 

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HOLA4418

Braindead segment about the budget on ITV news earlier, footage of potential FTB peering in estate agent's window being interviewed, saying it's good because he doesn't want to pay someone else's mortgage.  Cut to media bint next to luxury flat development saying this is good for house building and therefore good for electricians, plasterers, home furnishings and removal companies.

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HOLA4419

Stats on the scheme last time round not too scary.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/648018/H2B_MGS_Official_Statistics_Publication_-_September_17.pdf

 

Looks like it mainly supports buyers in the Midlands and North. It's not going to be driving up prices in London.

 

It's literally the same scheme, they've not even pushed up the maximum amount.

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HOLA4420
7 hours ago, HovelinHove said:

As. Promised on the first page, I went out and bought a house today. To be fair the price is reasonably good...vendor suited and sale due to one or more of the 3Ds. Reduced twice now. If it all goes through I will be quite happy. If it doesn’t, I am a little less fearful after hearing that this and another house we looked at 3 days ago had a few offers accepted, then fall through due to redundancies. Happening a lot. 5X zero income ain’t gonna buy a lot of house. I made an offer on a house the other 15k below asking, they came back with 10k below asking, I walked away. They then said they accept my offer, but by then I’d changed my mind. 

Drove by three properties which ticked enough boxes. One was just at the wrong angle to get much sunlight. Other two were possible. Contacted EAs. In both cases they were STC and hadn't been updated on Rightmove to reflect that...

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HOLA4421
3 hours ago, rantnrave said:

Drove by three properties which ticked enough boxes. One was just at the wrong angle to get much sunlight. Other two were possible. Contacted EAs. In both cases they were STC and hadn't been updated on Rightmove to reflect that...

There's a few like that near me.  One house completed recently without the for sale board getting updated to 'sold' at any point over the preceding weeks. If I were the buyer I'd be irate.

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HOLA4422
15 hours ago, Si1 said:

I noticed after the Biden stimulus was confirmed today bitcoin didn't budge, I think it actually ended up mildly down. So maybe the markets don't think stimulus is bullish for assets anymore. Of course these things are very fickle and could change next week....

Trump to win by a landslide in 2024?

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HOLA4423
5 minutes ago, Bruce Banner said:

Trump to win by a landslide in 2024?

Actually I think if he had dropped the vote nonsense sooner and accepted the vote he would have had a decent chance. 

After that absurd charade your middleclass housewife in arizona or texas or Georgia is not touching him as too extreme. 

Like anyone extreme will have a largeish following of vocal people which will make it seem his support is far larger than it is. Interesting times with how the republican party deals with that 

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HOLA4424
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HOLA4425
17 hours ago, gruffydd said:

As has Larry Summers... 

“Because we now have far more debt than we used to and because interest rates . . . at least a month or two ago were exceptionally low, that means we remain exposed to changes in those rates." - Sunak... stating the obvious but finding the need to state this now... he knows what's coming. 

 

17 hours ago, Si1 said:

And Warren Buffet now too

Since 1920s, UK has never had a large enough of economic umpfh to run it's an j dependent currency / it policy.

UK have pretty much cleaved to US ur policies since the 1970s. Only once trying to a different policy - erm/snake, which ended badly in 1993.

US is a v unusual economy - trade is sod all, yet runs a vast deficit, funded by other countries using dollar.

EU / Europe is getting more insular/ self contained.

By the very nature of UKs economy, youd think the BoE would be wanting yo keep dent down. And force mortgages to 5 years plus.

This bit of BoE ball gazing still cracks me

https://www.thisismoney.co.uk/money/news/article-1631321/King-Nice-decade-is-behind-us.html

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