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They should wait a bit longer. More falls to come yet.Originally posted by Sockpuppet View Post -
And to counter the BBC trainee journalist's view, here is another noob journalist's view:-
http://www.metro.co.uk/news/article....&in_page_id=34Comment
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how will they buy when no one will give them a mortgage?I didn't say it was your ******* fault, I said I was blaming you!Comment
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Same old formula; state the bleeding obvious under the heading of "a recent report" or "a recent survey shows . . ." throw a few percentages in for authenticity, then wheel out an academic to back it all up.
Tabloid journalism at it's most inane.
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The BBC report is typical nuLieBore spin.
As the septics say, "Making chicken salad out of chicken s....."How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.
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"We hang the petty thieves and appoint the great ones to high office" - AesopComment
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My thoughts exactly.Originally posted by scooby View Post
The usual blocker is being unable to come up with a 5% deposit plus all the other expenses needed (which for a £200K property in London is tricky for a couple of youngsters.) Even if property prices drop 10 to 20%, that doesn't affect the stamp duty and deposit required by much AND most lenders seem to want >10% deposit these days?
Hopefully someone much brighter than me will show me the error in my thinking.
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These days parents are expected to help their children out!Originally posted by Tensai View PostMy thoughts exactly.
The usual blocker is being unable to come up with a 5% deposit plus all the other expenses needed (which for a £200K property in London is tricky for a couple of youngsters.) Even if property prices drop 10 to 20%, that doesn't affect the stamp duty and deposit required by much AND most lenders seem to want >10% deposit these days?
Hopefully someone much brighter than me will show me the error in my thinking.
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Agreed. Though I know of a mate who fell out with his Dad, who subsequently demanded a proportion of the equity increase when he sold the house....Originally posted by BrilloPad View PostThese days parents are expected to help their children out!
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yep, most lenders do! i had a quote from Halifax the other week, they wanted 10% + all other debts paying off (both mine and wife) and would only lend £167k as we want to keep our current property. they were the only ones willing to offer at the min. i used Contractormoney too, but the market has changed so much... i was being offered up £400k 125% at the turn of the year. (altho i doubt i could afford that or want to commit to that much...)Originally posted by Tensai View PostMy thoughts exactly.
The usual blocker is being unable to come up with a 5% deposit plus all the other expenses needed (which for a £200K property in London is tricky for a couple of youngsters.) Even if property prices drop 10 to 20%, that doesn't affect the stamp duty and deposit required by much AND most lenders seem to want >10% deposit these days?
Hopefully someone much brighter than me will show me the error in my thinking.I didn't say it was your ******* fault, I said I was blaming you!Comment
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