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Anne Ashworth Wants A Spring Bounce

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http://property.timesonline.co.uk/tol/life...icle3545465.ece

The Chancellor's weightiest Budget measure for homeowners was a 94-page document that returned - for the umpteenth time - to the issue of how to make long-term fixed-rate mortgages the loan we love the most.

This Housing Finance Review advances a new reason why we should all prefer a 25-year fixed-rate deal: in the US, the repossession rate is highest among sub-prime borrowers with variable rate mortgages. But, as these were sold to the poorest would-be owner-occupiers, those most likely to default, the case is not very convincing.

Meanwhile aspiring owner-occupiers in the UK will wonder why Alistair Darling did so little for them. The stamp duty change applies mainly to those key workers, such as teachers, who qualify for shared equity schemes. As we told you last week, there is unrest among private sector workers with modest earnings who envy key workers not only their pensions, but also their housing and loan perks, including mortgages with starter rates of as low as 1.75 per cent.

Only 16 per cent of properties are below the £125,000 starting threshold for stamp duty. An increase to, say, £130,000 and the promise of more concessions to come in future Budgets would have given the market a useful springtime boost. But perhaps Mr Darling decided that a tax break would be wasted on first-time buyers, who currently find it difficult to get a mortgage unless they are in possession of a substantial deposit.

His harsh treatment of first-time buyers was in marked contrast to his generosity to buy-to-let investors. Despite rumours that he would have a change of heart, the capital gains tax (CGT) on the sale of a rental flat or a second home will be 18 per cent from April. The temptation to take advantage of this tax cut will be lessened by the availability of tenants - those frustrated first-time buyers must live somewhere.

I think Anne is coming round to the reality of the situation now. She's probably just offloaded the last of her "portfolio" too.....

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£125,000 starting threshold for stamp duty. An increase to, say, £130,000 would have given the market a useful springtime boost.

Pathetic :rolleyes: , wouldn't make a jot of a differance .

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She's been waiting for a spring bounce since 2006 but I guess good things come to those who wait. What is coming is spring bounce crash :lol:

We'll be getting a spring bounce, all right. Mark my words.

...off the ceiling.

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Guest DissipatedYouthIsValuable

If she were twenty years younger, I'd probably give Anne Ashworth a good Spring bounce.

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Surely, the government won't let it happen?

Shouldn't she be compaining to those evil pension funds who aren't touching MBS's and the evil lenders who are taking away sub prime and checking liar loans and going back to sensible LTVs so you can't add the SD to the loan.

These are the b'stards who are ruining the party.

Actually we have noticed quite a few properties going under offer round our way. Some though have had a huge reduction (one went from 850 to 720 before selling). I am hoping that they will stay under offer for a long time, or go back to available with chains breaking.

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"This inclination to blame the messenger, first noted in January by this column, suggests some firms are well-equipped for tough times. " :blink::rolleyes::lol::lol:

With irrefutable logic like this it is clear how she achieved expert status.

To be fair to Anne (and I can hardly believe I wrote that), I think it's a typo and she meant to write "aren't well-equipped".

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  • 293 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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