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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    Just how far would house prices have to fall before a single mother on minimum wage could afford to buy one? Not all tenants are young professionals struggling to raise a deposit. If we want to reduce the private landlord market, we must have a proper safety net in advance for the tenants who...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    The cost of actually doing the building is a relatively small part of an expensive house. Land prices are huge. They sold new 3 bedroom houses in Colne for £175k including cost of land, demolition of the existing mill, and profit. The labour and materials would be easily afforded in more...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    There would be another saving too. Lots of tenants are on housing benefit. If you take away their homes, that will save their housing benefit costs until they somehow find somewhere else to live. What would be the plans for the displaced tenants? Hotel accommodation in the short term? What...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    It could get very messy indeed. The government by its policies is making rentals more awkward for landlords, especially small landlords, and if the tenants get together with a rent strike they would no doubt see plenty of landlords throw in the towel and sell up. So what happens then? Say a...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    I can see there is a problem with homes being used for holidays, but banning or restricting holidays isn't the answer. Build more houses for the locals, and prices will drop. Why do they never talk about banning hotels and using those properties as housing?
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    It's also impossible to get a mortgage if you're too old, have a bad credit record, or don't earn enough. None of those people would be comfortable with their landlords being driven out of business. If you are in a slum and there is a good supply of private accommodation available, then you...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    Base rates were 15% or more for 6 weeks in 1976 and for 3 weeks in 1981. But from July 1973 to April 1992, base rate was over 10%for all but 50 months, and for nearly all of those 50 months it was 8 or 9%. And as a very rough guide, a £50k mortgage over 20 years at 12% would charge £60k...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    It may be understood by some that Brighton's worst slum is better than the poshest house in Lancashire, but that view is based on pure prejudice, not based on fact. Maybe £250k for a 4 or 5 bedroom newbuild with a countryside view is overpriced to you, but they seem to sell. On the other hand...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    I don't think landlords should be subsidised either, but I wouldn't agree that they should be in effect nationalised at a discount. There's been a lot of talk of corruption on this thread, but if the government (local or national) was to buy assets for less than market value with a view (even...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    Don't you think that the tenant will suffer worse than the landlord if they are evicted? The landlord would have to sell the property and bank the proceeds, but the tenant would be homeless.
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    That article has been debunked, and it's pretty rubbish that it's still on the Leeds BS website. The author compared the average house price at 1980 prices and compared it with the average household income after adjusting for inflation to 2020 prices. Of course he got a nonsense answer. The...
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    [Finance] What should the government do about the coming base rate mortgage hike time bomb?

    The reason interest rates have been so low is largely because of government intervention. They have been printing money like there's no tomorrow which meant the banks didn't have to offer realistic interest rates to savers, they could get infinite funding from the government, so they could lend...
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