If you cant pay, the it should go on your credit file

BBC: Coronavirus: New mortgage holiday should affect credit record, says Nationwide boss

The first banker to say, if you can't pay it should go in your credit file. Banks need to know your are not a good and liquid borrower.

Posted by deepak @ 07:12 PM 0 Comments

Saturday, May 23, 2020

Last throw of the dice

Moneywise: Interest rates could go sub-zero: how would this affect mortgages and savings?

This effectively would be paying off peoples mortgages for free. I'm a bit surprised that there hasn't already been a revolt amongst savers. I have lost count of the number letters I have received saying my savings rates have been reduced to figures like 0.05%

Posted by tenyearstogetmymoneyback @ 03:45 PM 6 Comments

Friday, May 22, 2020

Why bother give it for free

BBC: Mortgage payment holiday extended for further three months

Well is people ever bothered to pay for what they buy, the wouldn't buy at the stupid prices they agree to in the first place.

Posted by deepak @ 09:24 PM 2 Comments

Thursday, May 21, 2020

Most who lost jobs are at the lowest pay grade

BBC: US workers seeking jobless aid near 40 million

Interesting to see how the growth in house prices as I put in a couple of days ago adds up here. As people are lining up for food banks, some people think house prices are going to go up

Posted by deepak @ 09:26 PM 0 Comments

38060 transactions in April

BBC: Coronavirus: UK property sales hit record low in April

There is no information about the value at what these are traded. One thing I learn't in my stats class, if the numbers are not big enough and transactions are at margin the value / price is not valid. But that is something that the housing index providers will never tell you. Even if one house of sold at the high price they will quote all of them at high price. That is how they remain in business.

Posted by deepak @ 09:14 PM 0 Comments

Thursday, May 14, 2020

The bottom is now, with a tick mark shape recovery with 10% MOM growth

Yahoo Finance: Delinquent mortgages spike in April amid pandemic, study shows

I do understand this is for US market, with over 30 million people loosing their jobs, I'm not sure who are buying this homes at an increasing prices? How these numbers can even be arrived at. Would people in difficulty not try to sell to whatever they can get and move on. During the 2008 crisis everything was so leveraged that when only few people started to fail the dominoes started to unravel very quickly. Now the debt level are even higher in the system, not sure how this is even possible?

Posted by deepak @ 10:40 PM 0 Comments

Monday, May 11, 2020

Ability to pay has nothing to do with getting a loan

BBC: Can I get a mortgage if I'm only on 80% pay?

Remember NINJA loans, you don't need any income or assets to get a loan. 80% income is still too much as long as you want to buy at an inflated price to keep the house prices up, we got the money. When you can't pay then there can be forbearance and its the banks fault to lend to you rather than your greed. If all fails, others will bail out the banks for lending to you. And the economy continues.....

Posted by deepak @ 11:24 AM 6 Comments

Friday, May 1, 2020

Dominoes

BBC: Coronavirus: Shopping centre giant threatens brands over rent

When making money in good times is hard, then how do you survive in lean times? Now the customers can't/won't pay ever pay rent, the landlord is in trouble. When enough landlords can't pay rent, the banks are in trouble. Dominoes keep failing. Where can we get similar figures for residential landlords?

Posted by deepak @ 06:41 PM 4 Comments

Wednesday, Apr 29, 2020

How many people will have to downsize ?

Moneywise: Coronavirus: Nine in ten pension funds suffer losses and annuities hit record lows

Even before anyone had heard of Coronavirus, I thought Defined Contribution Pensions will end up being the new endowment mortgages. If so I wonder how many people will end up having to downsize when they get to retirement and find out how little their Pension is worth.

Posted by tenyearstogetmymoneyback @ 08:40 PM 5 Comments

Monday, Apr 27, 2020

Let's tuck in on LHA without offering any improvement in service

Property118: LHA Increase to trigger rent increase?

A perfect example of how Housing Benefit increases rents. LHA is meant to be the maximum that the taxpayer will hand out to landlords. Instead it's the really the minimum. If the government will pay up to £x no questions asked, why would any landlord ask for less? And if LHA increases, how do you stop this sort of behaviour?

Posted by mombers @ 10:34 AM 0 Comments

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