4079 days ago
George Osborne is set to follow Nigel Lawson as the chancellor who created a mega house price bubble. It is fun while it lasts but real pain is on the way. It is only a matter of when.
4344 days ago
This Government, like all Governments, wants to rig the housing market. It calculates – correctly – that it garners short term electoral gain by pushing up house prices even if this involves wholesale pissing away of taxpayer’s cash and ultimately also directly and negatively impacts on the standard of living. One day this almighty con must stop. UK house prices are too high and Call Me Dave might reckon that he can buck the market that he can beat nature, but like King Canute he, or some other Prime Minister will ultimately fail in a spectacular fashion. This is a great con trick played by the political classes on you with your money. We all lose in the end.
Oh okay, before anyone quibbles about UK house prices being too high:
4411 days ago
So the FSA and the Mortgage lenders are going to make it bloody hard to get an interest only mortgage. This is to be done in the name of prudence since it is quite clear that large numbers of folks take out an interest only mortgage with no idea of how they will repay the capital in the end. As of now you are going to have to show how you can repay the capital and, if you are over 50, do so within 25 years. What does this all mean?
Clearly it will not assist the UK housing market.
