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Investigation Into Whether First-time Buyers Are Being Shut Out

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Guest wrongmove

Investigation into whether first-time buyers are being shut out

" A government-ordered probe into the soaring number of homes bought by investors will look at whether the trend is driving first-time buyers from the market.

The National Housing and Planning Advice Unit - a Communities and Local Government-sponsored agency - has hired consultants Ecotec to examine the impact of the buy-to-let market.

News of the study came as figures from the Council of Mortgage Lenders revealed that the gap between the number of mortgages issued to first-time buyers and those issued to buy-to-let investors is closing rapidly. The difference was just 14,900 in the first six months of 2007 - the smallest divide recorded by the CML to date.

Just two years ago closer to 70,000 more mortgages were issued to first-time buyers than buy-to-let investors.

The advice unit investigation was prompted by concerns raised by housing minister Yvette Cooper (Inside Housing, 27 April).

Ecotec consultant Adam Knight- Markiegi said the study would look at whether the burgeoning buy-to-let market was affecting housing affordability. 'There is definitely a trend of more people buying to let,' he said. 'First-time buyers are finding it increasingly hard to buy.'

Abigail Davies, principal policy officer at the Chartered Institute of Housing, said residents across Britain could see the trend developing before their eyes. ........."

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Guest wrongmove
hooray.. here comes the cavalry

:P

However, i don't see this as bad news. Eventually the comitee will report: "My gosh, BTL is a bit of mare for FTBs!!!". This may (just may) get papers printing and politicians thinking?

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They need to investigate the obvious..!... :lol::lol::lol::P

Yes, but you do know what conclusion they will come to though.

They are almost certainly going to decide that actually BTL is a great thing as it helps all those paupers (you know the likes, teachers, nurses, firemen, policemen - anyone on less than £40,000 a year) who cannot afford to buy their own houses have somewhere to live. If only the young of today would save a bit harder for a deposit buy fewer Ipods etc. etc.

The invstigators will probably call on "experts" like Kirsty and Phil who will tell them there is no problem as aparently property is cheap in Hull and Kirkcaldy.

:angry:

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Guest Shedfish
:P

However, i don't see this as bad news. Eventually the comitee will report: "My gosh, BTL is a bit of mare for FTBs!!!". This may (just may) get papers printing and politicians thinking?

it's good at least that they've noticed, but if it's like many other gov't committees by the time they reach their conclusions 29% of us will be living in caves, and shopping only at night, to avoid the planning permission enforcement officers from the Revenue :rolleyes:

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The National Housing and Planning Advice Unit - a Communities and Local Government-sponsored agency - has hired consultants Ecotec to examine the impact of the buy-to-let market.

Communities and Local Government-sponsored agency has hired a team to fit a new lock to the stable door after the last one wasn't strong enough to hold back a hurd of raging stallions.

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Guest barebear

First time buyers aren't being shut out they just need to learn how to lie and create alternative income sources so they can get higher multiples, FFS this is what NUlab want isn't it ? A nation full of debtors and fraudsters !!

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Yes, but you do know what conclusion they will come to though.

They are almost certainly going to decide that actually BTL is a great thing as it helps all those paupers (you know the likes, teachers, nurses, firemen, policemen - anyone on less than £40,000 a year) who cannot afford to buy their own houses have somewhere to live. If only the young of today would save a bit harder for a deposit buy fewer Ipods etc. etc.

The invstigators will probably call on "experts" like Kirsty and Phil who will tell them there is no problem as aparently property is cheap in Hull and Kirkcaldy.

:angry:

...you could be right and it might be a red herring exercise to show how responsible they are and subsequently recommend a damp squib just to put a seal on the "investigation".......alternatively they may conclude there are certain tax advantages given to the IO BTL brigade, which is inflating property prices beyond the reach of the backbone of this country , who are being eroded on all fronts by this Government....maybe a U turn.....?..... :unsure::unsure::unsure:

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Yes, but you do know what conclusion they will come to though.

They are almost certainly going to decide that actually BTL is a great thing as it helps all those paupers (you know the likes, teachers, nurses, firemen, policemen - anyone on less than £40,000 a year) who cannot afford to buy their own houses have somewhere to live. If only the young of today would save a bit harder for a deposit buy fewer Ipods etc. etc.

The invstigators will probably call on "experts" like Kirsty and Phil who will tell them there is no problem as aparently property is cheap in Hull and Kirkcaldy.

:angry:

Or conclude that the problem is caused by a 'lack of supply' and set out plans for a huge housebuilding programme across the southeast, and a range of part rent/part buy schemes.

Oh, hang on, that sounds familar.... :o

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Investigation into whether first-time buyers are being shut out

" A government-ordered probe into the soaring number of homes bought by investors will look at whether the trend is driving first-time buyers from the market.

Another great value 'consultation' from Gordon "Im Listening" Brown - I bet this will line a Brown-friendly consultancy's pocket to the tune of £5-£10 million

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They need to investigate the obvious..!... :lol::lol::lol::P

They will no doubt appoint Tautologous Tim as the Chairman of the investigation team.

This is all political posturing as NuLabour realise there are a LOT of angry people in this country and many are voting with their feet and leaving. IMO, the polls are about to turn against Mr. Brown. As soon as "wealth" is seen to be vanishing in the form of falling house prices and collapsing stocks the finger of blame will be aiming right at the chief architect of it all: Mr. Brown. The fact that "immigration" is now a big issue is a sign the sheeple are stirring against NuLabour and they will start to blame the masses of migrants for taking the soon to be scarcer jobs. Its going to get very ugly.

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well remember hes plumping for an early election and this is probably more to do with that, than really helping.

all cameron can come up with is a usual tory rant about being tough on crime.

both parties dont really give a toss.

vote with your feet.

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So what will they do about it when the report reveals the obvious? Nothing because they've been trying to encourage BTL.

...maybe even THEY will see the obvious disaster ahead unless THEY change tack.....now........ :lol::lol::lol::P

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Investigation into whether first-time buyers are being shut out

" A government-ordered probe into the soaring number of homes bought by investors will look at whether the trend is driving first-time buyers from the market.

The National Housing and Planning Advice Unit - a Communities and Local Government-sponsored agency - has hired consultants Ecotec to examine the impact of the buy-to-let market.

News of the study came as figures from the Council of Mortgage Lenders revealed that the gap between the number of mortgages issued to first-time buyers and those issued to buy-to-let investors is closing rapidly. The difference was just 14,900 in the first six months of 2007 - the smallest divide recorded by the CML to date.

Just two years ago closer to 70,000 more mortgages were issued to first-time buyers than buy-to-let investors.

The advice unit investigation was prompted by concerns raised by housing minister Yvette Cooper (Inside Housing, 27 April).

Ecotec consultant Adam Knight- Markiegi said the study would look at whether the burgeoning buy-to-let market was affecting housing affordability. 'There is definitely a trend of more people buying to let,' he said. 'First-time buyers are finding it increasingly hard to buy.'

Abigail Davies, principal policy officer at the Chartered Institute of Housing, said residents across Britain could see the trend developing before their eyes. ........."

This is very good news, it's the first steps in a due dilligence process that may prevent our children from living their lives as locked-out debt serfs.

The problem the government faces is that the majority of the voters are home owners, who tend to think HPI is a good thing. What makes this study such a smart move is there's little political sympathy for BTL landlords, but lots for FTB's. So taxing BTL more aggressively, or whatever this investigation recommends, is politically sellable but at the same time would be extremely effective in bringing down house prices.

Go, go Ecotec!

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Investigation into whether first-time buyers are being shut out

Abigail Davies, principal policy officer at the Chartered Institute of Housing, said residents across Britain could see the trend developing before their eyes. ........."

Unlike Gordon, who needs to pay a firm of consultants to tell him the bl**ding obvious.

Windfall tax on BTL profits being re-directed into a "new-deal" scheme for 20 something FTB's anyone?

Tell you what, why not just scrap tuition fees, regulate IO mortgages, cap lending multiples to 3x, tax second home ownership properly and shoot illegal immigrants.

Job done

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