The Tories have 'killed buy-to-let for the middle-classes'

[MrMarkyMark]

And it's £1000/month with interest rates at .5%. What happens when they bounce back to 2%?

What happens when they have kids and the mum takes time off work?

They will manage, of course, or get repossessed

[vetran]

I thought 24k was the median wage?

Either way, 225k is 4X combined income which is quite high.

And it's £1000/month with interest rates at .5%. What happens when they bounce back to 2%?

What happens when they have kids and the mum takes time off work?

what happens when the value of money falls and £225k is the annual wage?

Our first house 25 years ago was 3.5 times joint wage. We ate beans a lot! The Mortgage at the time was £400->500 in the first few years. We waited until we could afford kids.

[DimPrawn]

what happens when the value of money falls and £225k is the annual wage?

Our first house 25 years ago was 3.5 times joint wage. We ate beans a lot! The Mortgage at the time was £400->500 in the first few years. We waited until we could afford kids.

Immigrants and benefit scroungers do the breeding, the middle classes are supposed to pay for it all.

[d000hg]

what happens when the value of money falls and £225k is the annual wage?

Our first house 25 years ago was 3.5 times joint wage. We ate beans a lot! The Mortgage at the time was £400->500 in the first few years. We waited until we could afford kids.

Interest rates are likely to rise, young couples are likely to want kids.

If you're both on average salaries there's no guarantee that you'll ever earn much more than that, and you won't pay off your mortgage until you're ~65.

Either you guys were earning little, or you deliberately bought an expensive house surely. I didn't even think they used to offer mortgages based on combined income back then, more like 3X + 1X or something? Or was that an interim thing in between then and now?

[PurpleGorilla]

The Tories have 'killed buy-to-let for the middle-classes'

5 bedroom detached house for sale in BUCKSHAFT ROAD, CINDERFORD, GL14

5 bedroon detached house, not up north, less than £250K. If you can't afford that, you should have worked harder at school and paid attention.

No jobs for me there.

What's the average wage there? 20k?

http://www.theguardian.com/money/201...-england-wales

I've been to Milton Keynes. It's a tulip hole [emoji39]

Let's see what £250k gets you somewhere nice?

http://www.rightmove.co.uk/property-...-52186696.html

Love the condescending selfie stick crap. People fortunate to buy in early 80s and 90s have the gall to say pick up the expensive crumbs and shut the **** up.

**** off.

As to no young voting. That's because THERE IS NO ONE TO VOTE FOR!

[Zero Liability]

I always find myself straddling two sides on this argument. On the on hand, it is absolutely bad govt policy from all angles that has led to the housing Ponzi scheme that has priced many younger people out of housing. On the other hand, seeing all the clueless blaming of landlords and the idiotic expectations of some people, my sympathy wanes.

Future governments are going to have a huge problem on their hands, when they can no longer bribe homeowners and have taxed wealth producers out of all existence, in their hubristic assumption that Britain is so special that these individuals and firms won't eventually just pack up and leave, with a potential market of 6b consumers.

[vetran]

Either you guys were earning little, or you deliberately bought an expensive house surely. I didn't even think they used to offer mortgages based on combined income back then, more like 3X + 1X or something? Or was that an interim thing in between then and now?

We bought the best house we could afford, we fixed our repayments for 5 years. When it became difficult we scrimped what we could.

We have repeated for each house purchase since. Still won't repay until I'm 65 but our mortgage is pretty small and LTV the same.

2-2.5 joint + deposit

[vetran]

I always find myself straddling two sides on this argument. On the on hand, it is absolutely bad govt policy from all angles that has led to the housing Ponzi scheme that has priced many younger people out of housing. On the other hand, seeing all the clueless blaming of landlords and the idiotic expectations of some people, my sympathy wanes.
.

+1

sooner they grasp the nettle & solve it the better.

[MrMarkyMark]

On the other hand, seeing all the clueless blaming of landlords and the idiotic expectations of some people, my sympathy wanes.

Future governments are going to have a huge problem on their hands, when they can no longer bribe homeowners and have taxed wealth producers out of all existence, in their hubristic assumption that Britain is so special that these individuals and firms won't eventually just pack up and leave, with a potential market of 6b consumers.

Correct, how can the people that took advantage of what was on offer be to blame.

Agreed, a huge problem and the longer it goes on, the worse it will end.

[PurpleGorilla]

+1

sooner they grasp the nettle & solve it the better.

The solution is simple.

Add house price inflation to CPI.

Raise rates.

Let the market crash. Nothing like lower prices to make things affordable (you never hear that though!)

End HTB subsidies.

When prices at neutral levels, legislate tighter lending.

Result, a more benign market.