Warning over home repossessions

[Spartacus]

You won't say that when house prices double over the next 12 months.

Buy one now whilst they are practically giving them away!

That's pretty much what I told him.

[DimPrawn]

You won't say that when house prices double over the next 12 months.

Buy one now whilst they are practically giving them away!

[Spartacus]

Nice one.

Are most people incapable of even using a calculator or Excel then?

It's the same with all bubbles bobhope. People are terrified of missing the boat, herd mentality takes over, all reason is abandoned and so on. It's happened before and will happen again.

[bobhope]

It's numpties like him that will inflate the bubble to catastrophic proportions leaving the likes of those on here with some nous to clean up nicely afterwards. Needless to say I congratulated him on his foresight and encouraged him to take out the biggest mortgage he could afford as he was guaranteed to see impressive capital growth.

Nice one.

Are most people incapable of even using a calculator or Excel then?

[Spartacus]

... and to think, people like that have the vote... (sighs)

It's numpties like him that will inflate the bubble to catastrophic proportions leaving the likes of those on here with some nous to clean up nicely afterwards. Needless to say I congratulated him on his foresight and encouraged him to take out the biggest mortgage he could afford as he was guaranteed to see impressive capital growth.

[wendigo100]

The permie next to me has just said he absolutely has to buy into property now rates have risen as he doesn't want to miss the boat.

... and to think, people like that have the vote... (sighs)

[Spartacus]

What pisses me off is that rates go up for loans already made, it should be something along the lines of all new loans will go up by this rate... or something like that.

I am sure there are many reasons NOT to do the above but I dont care as my rate went up

Take out a fixed rate loan then, numpty. You do understand what "variable rate" means don't you?

[Bagpuss]

What pisses me off is that rates go up for loans already made, it should be something along the lines of all new loans will go up by this rate... or something like that.

I am sure there are many reasons NOT to do the above but I dont care as my rate went up

Do you expect them to lend to you at a loss?

[Mervalous]

What pisses me off is that rates go up for loans already made, it should be something along the lines of all new loans will go up by this rate... or something like that.

I am sure there are many reasons NOT to do the above but I dont care as my rate went up

[Spartacus]

I told ya....I told ya. The crash a commeth.

I'd like it to hold off for another one to two years yet but within the lifetime of the current government. The carnage amongst the hard of thinking will be so much greater and should keep the socialists out of power for another generation. Keep your powder dry.

The permie next to me has just said he absolutely has to buy into property now rates have risen as he doesn't want to miss the boat.

[Spartacus]

Just a shame Gordo pulled the plug at the last minute on allowing you to use your pension fund to buy property.

[Sockpuppet]

I told ya....I told ya. The crash a commeth.

[sasguru]

Get your fighting funds ready to move in come the crash. We're all going to be millionaires by the end of the next cycle.

[Spartacus]

Home repossessions could become more common if UK interest rates rise this year [ooops, like they just did 10 minutes ago], the Royal Institution of Chartered Surveyors (RICS) has warned.

Mortgage repayments are now a bigger burden than at any time since 1991, RICS said.

For a two-person household on average incomes, home loan repayments now take up 22% of take-home pay.

Many experts are expecting the Bank of England to raise the cost of borrowing again in the next few months [shortly to be amended to read, "last few minutes"].

http://news.bbc.co.uk/1/hi/business/6248899.stm

We're doomed / boomed / whatever