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Goldmember

Keeping The Property Market Afloat

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REITs, Government part-funded, negative equity mortgages and the SIPP fiasco whereby the legislation was cancelled at the last minute.

It's clear that Brown is desperate to prevent the worst housing crash in history following the worst housing boom in history. This is the bone-head who said, "no more boom and bust".

The latest is the "never-ending mortgage". "Warning over rise of the never-ending mortgage", reports the Sunday Times.

This is a mortgage where you only pay the interest and your kids have the option of inheriting the loan. But isn't that just renting but at a higher price?

The "homeowner" would be responsible for maintenance.

They'd probably "buy" a bigger house than they would if they were really renting.

They'd face vairiable interest rates.

They'd be paying over the odds for a housing bubble with the latest REITs to help keep it afloat whilst on the other hand the "buy to let" brigade kindly keep rents down.

A house I rented in 2001 is back on the rental market at the exact same price. To mortgage it at 5% would cost about £100 a month extra.

Banks make a considerable profit from the interest mortgages which is why they levy a penalty if you pay your mortgage off early. A typical 25 year mortgage would have the "homeowner" paying almost double in real terms for the price of house.

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  • 301 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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