Foodbank client stories

[NotAllThere]

We didn't.

What happened was councils stopped building them...

Which was partly because they weren't allowed to use the funds from council house sales to build new ones.

[scooterscot]

And then everyone blames the EU when house prices increase.

[PurpleGorilla]

And then everyone blames the EU when house prices increase.

Nope. I blame greedy BTL leeches.

[scooterscot]

The graph appears to spike at the same time house prices increased dramatically.

Supply and demand. BTL only seem to be filling in the gap when council houses were not longer meeting the demand. Perhaps they are the result rather than the cause.

[PurpleGorilla]

The graph appears to spike at the same time house prices increased dramatically.

Supply and demand. BTL only seem to be filling in the gap when council houses were not longer meeting the demand. Perhaps they are the result rather than the cause.

Nonsense. If you have FTB and BTL both competing for the same stock - what do you think happens to prices.

No my friend, BTL, irresponsible lending (remember self cert mortgages), and MIGRATION are all putting pressure on demand.

[eek]

Nonsense. If you have FTB and BTL both competing for the same stock - what do you think happens to prices.

No my friend, BTL, irresponsible lending (remember self cert mortgages), and MIGRATION are all putting pressure on demand.

+1 demand is based on how stupidly willing bank are to lend money, how stupid people are to borrow it and and how much a bank can get away with lending.

For the past 10 years you have been able to borrow more on an Interest only BTL mortgage (basically interest needed to be covered by rent) than a First Time buyer could borrow (as that was based on their income).

Thankfully the former has now changed and prices have only 1 direction for the next few years..

[milanbenes]

you're missing the key points

BTL, FTB, neither are the problem

the problem is supply

if the nimbi's would allow massive amounts, millions of homes (home - can be apartment or house) to be built, and balance the supply with the demand, there wouldn't be a problem

the problem is, since the majority are not financially fecked, their only hope is the house price gravy train

Milan.

[PurpleGorilla]

you're missing the key points

BTL, FTB, neither are the problem

the problem is supply

if the nimbi's would allow massive amounts, millions of homes (home - can be apartment or house) to be built, and balance the supply with the demand, there wouldn't be a problem

the problem is, since the majority are not financially fecked, their only hope is the house price gravy train

Milan.

FTB aren't the problem. They are victims of other people's greed.

[eek]

you're missing the key points

BTL, FTB, neither are the problem

the problem is supply

if the nimbi's would allow massive amounts, millions of homes (home - can be apartment or house) to be built, and balance the supply with the demand, there wouldn't be a problem

the problem is, since the majority are not financially fecked, their only hope is the house price gravy train

Milan.

Nope for most first time borrowers the fact someone else could borrow £140,000 (based on rental income) and they could only borrow £120,000 (based on actual imcome) meant they couldn't buy the property as someone else was paying more.

That's already stopped through BTL mortgages are more regulated and a BTL borrower can now only borrow 80% of what they could borrow in November. So £112,000 against the FTBers £120,000. Now we just have to wait for the market it play out.

[milanbenes]

yes agreed, and the other people's greed is that they contribute to not allowing enough new property to be built to fulfill demand

Milan.