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On the money

The idea is sound , yes.

This is my take on it. Stable for a while, maybe a small decrease the second half of this year, 2%.

The flaw in the whole process is that a lender will decide a 25 year mortgage on a snap shot of that persons finances the day it hits the underwriters desk. The issue is the applicant could take out a £ 400 pm loan or put £ 10k on their credit card the day after completion so their meticulous...

Lenders scrutinize 3 months bank statements looking at all transactions.

It is all opinions Simster. I think the MMR and the resulting tightening of lending will have a big impact on the market, at least initially. If people struggle to get mortgage finance that will have an impact on the market so a stall is likely for 6 months, maybe a slight fall in prices in...

I agree but I fear the lack of available finance will force the market into a downturn. We will see.

I will say it again. The housing market will be corrected by the impact of the MMR on 26/4. It does not matter how cheap funding is if large swathe's of the population cannot access it. This will become clear in the coming months when the mortgage approvals are announced. This will then stall...

The OP did the original post when the market was at rock bottom. Since then there has been a 20% upturn at least. So anyone not buying in 2010 at £ 200k who felt this has lost out on £ 40k. I do think however prices down here have peaked for a while and will be stable or even fall slightly the...

Should have spoken to an independant mortgage broker mate.

Peoeple sitting on tracker and variable rates get a reality check when they try and come to re mortgage as 1. The property price falls may mean they go into a higher loan to value than they would have previously done meaning higher rates 2. Any and I mean any adverse credit in the last 3 years...

Its the same money going around the system unless you increased the borrowing. The new lending figures are likely to go into negative this year ie new lending will be less than payments made back on existing mortgages. When people have extra cash like those on tracker and variable rates in the...

£ 6 billion net lending in 2010 and expected to go into negative net lending in 2011 ( more being paid back on mortgages than being lent out ).

Total UK mortgage lending fell to its lowest level for nine years in 2010, new figures show. The value of mortgages advanced stood at £136.3bn, which was down 5% from £143.3bn in 2009 and the third year in a row that the figure has fallen. Lending was just over a third of level seen in 2007...

Interest rates held at 0.5% for the 23rd month in a row.

Some people have but at most 10%, also with a repayment mortgage the debt level reduces as well.

Again that is not the case. 90% have spent the extra money on their lifestyles which is the point I was making. Very few have paid it off their mortgage.

Thats a decent rate. Interest rates at 0.5% are BAD for the UK. Not only are they bad for savers and pensioners which outweight mortgage borrowers they send a bad message to the World that the economy is f***ed up. Inflation is running at nearly 5% of the RPI and the bank base rate under normal...

A decent rate beardosh. Well done.

The only message it sends out is they are greedy fuckers who want a massive profit margin to help balance their books from all the billions they spunked away on the USA sub prime market.