Mortgage Rate Rises

[King Arthur]

I agree. It’s like the stock market. No one knows. Not even the professionals most of the time.

Waiting for the supposed bottom as a first time buyer is about the only people who benefit.

I do however think that the Tory’s will whip out one more stamp duty holiday to win some votes come next year.

 

[413x]

I agree. It’s like the stock market. No one knows. Not even the professionals most of the time.

Waiting for the supposed bottom as a first time buyer is about the only people who benefit.

I do however think that the Tory’s will whip out one more stamp duty holiday to win some votes come next year.

I wonder if a new help to buy scheme will appear?

 

[Ali195]

I wonder if a new help to buy scheme will appear?

Dear God, and top rate of help will probably be 700k and lots middle class folks with a house already hoovering up properties, just what a first time buyer on average English wage needs.

 

[Kill_Phil]

So Halifax have reported a housing price rise last month...

 

[413x]

So Halifax have reported a housing price rise last month...

I'm happy with anything from small declines to small rises.

I expect my next purchase will be a side move (ie nicer house in a cheaper area = no added mortgage).

So it's much of a muchness. If it falls, so would next house. If it rises.. Same.

As. Long as we. Don't have a 20pc fall I don't really care.


FTBs wi want big falls. Very recent buyers and those nearer "the end" will not.

 

[Jono8]

I'm happy with anything from small declines to small rises.

I expect my next purchase will be a side move (ie nicer house in a cheaper area = no added mortgage).

So it's much of a muchness. If it falls, so would next house. If it rises.. Same.

As. Long as we. Don't have a 20pc fall I don't really care.


FTBs wi want big falls. Very recent buyers and those nearer "the end" will not.

Unless there are other significant global factors/events, i think prices are just likely going to stagnate for quite a while.

Which to be honest is what the market needed. It needs a bit of a cool down for a few years as things were getting silly last year.

 

[413x]

Unless there are other significant global factors/events, i think prices are just likely going to stagnate for quite a while.

Which to be honest is what the market needed. It needs a bit of a cool down for a few years as things were getting silly last year.

I agree. These ridiculous house price gains do more harm than good with people needing ever bigger mortgages

 

[BongoHunter]

Unless there are other significant global factors/events, i think prices are just likely going to stagnate for quite a while.

Which to be honest is what the market needed. It needs a bit of a cool down for a few years as things were getting silly last year.

You've got a world facing energy security, food, and climate related issues, major conflict hotpots in Ukraine, Israel and Sudan. Plus the possibility of Trump getting back in charge next year.

Add to that tensions in Kosovo / Serbia, Taiwan straight sitting in the background, and loads of other crap going on (Afghanistan surprisingly being demoted to minor crap these days!).

We're probably not that many accidents and murders away from a major global issue. A war involving Iran would probably do it (and be quite likely!)

I'd be stocking up on canned food, loo roll, and tinfoil hats if I didn't already have a garage and shed full

 

[Deleted User 298457]

Unless there are other significant global factors/events, i think prices are just likely going to stagnate for quite a while.

Which to be honest is what the market needed. It needs a bit of a cool down for a few years as things were getting silly last year.

They've gone down loads when you factor in inflation?

 

[Jono8]

They've gone down loads when you factor in inflation?

No I know they dropped a fair bit since the heights of last year, but I think they will continue stagnating now for a while (possibly dropping a bit more).

 

[Martini1991]

They've gone down loads when you factor in inflation?

Costs more though unless you're cash rich

 

[200sols]

They've gone down loads when you factor in inflation?

Real terms. Yes. Nobody talks about real terms until the stagnation has been going on for a while, still a way off yet.

 

[Jono8]

Real terms. Yes. Nobody talks about real terms until the stagnation has been going on for a while, still a way off yet.

I mean, it is a difficult thing to quantify.

If you are a cash buyer, you could argue they have gone down loads compared to inflation....however if you are like most people/or part of the younger generations and require a hefty mortgage, the cost of owning a house has got MORE expensive due to interest rates.

 

[fez]

Mortgage help offered for struggling homeowners in Wales

People who cannot make mortgage repayments could get interest-free loans from the Welsh government.

www.bbc.co.uk

Some interesting stuff. Whats the betting that the people that take this help will just find themselves in more trouble down the line due to the terms of the loan. Either that or it will be a good waste of public money and they will unwind the terms.

 

[_Jimlad_]

Mortgage help offered for struggling homeowners in Wales

People who cannot make mortgage repayments could get interest-free loans from the Welsh government.

www.bbc.co.uk

Some interesting stuff. Whats the betting that the people that take this help will just find themselves in more trouble down the line due to the terms of the loan. Either that or it will be a good waste of public money and they will unwind the terms.

Will be useful to some. But although interest free for 5 years there also no need to make repayments for 5 years. Which if families are already struggling it could make things worse at the end of that period

 

[Deleted User 298457]

Will be useful to some. But although interest free for 5 years there also no need to make repayments for 5 years. Which if families are already struggling it could make things worse at the end of that period

Even worse, it is an equity loan. If your proper balloons in value over 15 years you could end up owing back substantially more.

 

[fez]

Even worse, it is an equity loan. If your proper balloons in value over 15 years you could end up owing back substantially more.

This is the issue. You borrow £150k on a £300k property to pay off your mortgage and the bank could potentially own 50% of the value of your house. If that wen't up 25% in the next 5 years you would owe them another £37,500 and you were clearly struggling to pay in the first place.

For most it won't be that bad as I assume you would be paying off the loan akin to a mortgage but without seeing the small print I don't know quite how it would work.

 

[The_Arbiter]

The even scarier thing is some might find themselves in the position that might be the only way out.

 

[413x]

Mortgage help offered for struggling homeowners in Wales

People who cannot make mortgage repayments could get interest-free loans from the Welsh government.

www.bbc.co.uk

Some interesting stuff. Whats the betting that the people that take this help will just find themselves in more trouble down the line due to the terms of the loan. Either that or it will be a good waste of public money and they will unwind the terms.

Probably will be used by people who don't need it.
People may see it as free money.

Could go badly wrong. Hopefully terms are tight that people don't just treat it as the ultimate "free money" gift.


I'm not in favour, because it'll probably be badly implemented

 

[413x]

Useful table for myself in that article.
Planning to move from orange to one of the blues.

Looks like the falls are smaller in Cardiff.

Some of those price drops are chunky

The vale is a total outlier. But I get it. It's a nice area. With some lovely coastal spots.