Tuesday, May 11, 2010

Price out those FTB scum everyone…

More cash for BTL mortgages

Oh dear.

Posted by chrisch @ 08:54 AM (1735 views)
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16 thoughts on “Price out those FTB scum everyone…

  • righttoleech says:

    More logic defying news. Unbelievable.

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  • Nationwide also trimmed rates to homeowners yesterday by 0.6 per cent, bringing it in to line with the rest of the market.

    Meanwhile in other news, savers are left to rot.

    Storing money under the bed feels a lot better than having it on deposit with one leech, who then borrowers it to another leach, who in turn outbids our young, to then profits from them.

    All this talk of stable government while society itself is based on the principle of ‘fvck over the next guy.’

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  • This is genuinely bad news IMO, the more they lend the more borrowers will take and the more prices will get pushed up.

    It’s truly worrying the amount of money people are paying for the patch of land their £50-£100k house is sitting on.

    And as for insurance companies building huge estates of BTL properties, this is truly not the way forward for this country.

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  • And yet everybody’s answer to the housing crisis during the election debates was build more houses… What, so BTL landlords can buy them, push the prices up to unsustainable levels, crash the market, and leave the lenders needing another bailout – Hmmm great plan. Thankfully, our plan to be out of this country within 2 years is still on track.

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  • 3. str 2007

    If you look into ‘Agenda 21’ this will make much more sense. Coincidence? Try throwing in Obamacare too.

    I will leave it to you to connect the remaining dots if you haven’t given up hope by then…. How sporting of me!

    “All that is necessary for the triumph of evil is that good men do nothing.” (Edmund Burke)

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  • Look on the bright side, eventually it will be the BTLs who are fvcked over. Especially as on this side of the Atlantic, we don’t have the non-recourse loans that allows a lot of Americans to just walk away from underwater properties.

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  • 4. nubbers

    That’s the problem, for now. Will the solution fall in your favour or the banks/governments? Think about it. Recent history and all.

    We are heading for a massive shake up, a total restructuring beyond anything you have thought about.

    That is what makes this site so alluring to me. The surface has still not been scratched or even imagined by most here.

    japanese uncle? 🙁

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  • Next article up gives more details of these loans – basically I can’t believe anyone can make them pay.

    Getting fed up with this double word entry at the bottom, seems a little pointless and you can hardly read some of them.

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  • mark wadsworth says:

    Yup, this is another facet of Home-Owner-Ism – to concentrate more and more housing in the hands of fewer and fewer people.

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  • Actually looking at the report, the balance of price increases is dropping in EVERY region, apart formt he South East (flattish), so
    no idea how/why the media have spun this UP.

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  • DW – Could you post a link if you have one please?

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  • STR’07 said, “Getting fed up with this double word entry at the bottom”
    I agree.
    I have given HPC some feedback – please do the same with your thoughts.
    Firstly, I believe it’s pretty much redundant if one is providing an admin password already;
    furthermore I have not noticed much spamming of the board so it seems like a waste of their own resources (although maybe the forum has a need – I don’t hang out there.)

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  • Ditto re captcha. Using password and seen no spam. (Yeah, yeah, haha).

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  • But this common practice from the banks when credit worthy individuals do not want to buy property they will send their buy to let in. Money creation is not a problem and the shortage must be maintained at any price. I think OFT should investigate this practice.

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  • Wonder if there will be much demand for new BTL mortgages now that many people are realising that house prices are unlikely to go up much for a good few years.

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  • mark wadsworth says:

    @ a saver, 16. Off to re-education camp with you. Bricks and mortar always go up. It’s a long term investment. Are you trying to undermine The British Way Of Life or something?

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