Wednesday, March 26, 2008

A little bit of good news

Experian releases UK debt figures

Ordinary folks seem to be aware they are in too much debt and have been tightening their belts for a while. I wouldn't be surprised if first time buyers actually hit zero at some point.

Posted by last_days_of_disco @ 09:53 AM (1132 views)
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4 thoughts on “A little bit of good news

  • “The report shows that total outstanding balances on UK borrowing rose 9.24 per cent over the past 12 months from £1.061 Trillion to £1.159 Trillion”

    Not sure I agree with LDD’s analysis – borrowing an extra £100bn in a year looks like a substantial increase to me.

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  • If “ordinary folks” recognised they had too much debt, how come the government didn’t do the same with public sector borrowing? Too busy trying to genetically re-engineer our culture, perhaps?

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  • Voiceofreason says:

    I found out who greenbay is : See http://www.greenbay-estates.co.uk .
    Quote:
    “Who is Rent Back ideal for?

    Rent Back could be an ideal solution in the following situations:

    Financial Difficulty: those who are finding it difficult to keep up the mortgage payments due to reasons outside their control (job loss, health reasons, high interest rate, etc.). You don’t have to lose your property if you can’t keep up the mortgage payments! We will offer you a cash price to buy your property and you can carry on living in it as our tenant until you decide to move on.

    Ho ho !

    I agree, first time buyers will drop to zero. Nice one Gordo, what was it about affordable housing for everyone ? But you forgot to regulate the finance vultures didn’t you.
    Too much credit = high house prices and people being priced out. Doh !

    This will take a few years to normalize to sustainable prices based on 3.5 x earnings.

    Reply
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  • voiceofreason says:

    I found out who greenbay is : See http://www.greenbay-estates.co.uk .
    Quote:
    “Who is Rent Back ideal for?

    Rent Back could be an ideal solution in the following situations:

    Financial Difficulty: those who are finding it difficult to keep up the mortgage payments due to reasons outside their control (job loss, health reasons, high interest rate, etc.). You don’t have to lose your property if you can’t keep up the mortgage payments! We will offer you a cash price to buy your property and you can carry on living in it as our tenant until you decide to move on.

    Ho ho !

    I agree, first time buyers will drop to zero. Nice one Gordo, what was it about affordable housing for everyone ? But you forgot to regulate the finance vultures didn’t you.
    Too much credit = high house prices and people being priced out. Doh !

    This will take a few years to normalize to sustainable prices based on 3.5 x earnings.

    Reply
    Please complete the required fields.



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