Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

[Doctor Gollum]

Danish banks are going to start offering 20 year fixed rate mortgages at 0% interest!   

Which is nice for the Danish people. 

Maybe it'll spark off a property boom there. 

It could be a 60 year interest free mortgage... Doesn't matter if there's no affordable properties and everyone is unemployed

[Field Marshal Dr. Opti]

Danish banks are going to start offering 20 year fixed rate mortgages at 0% interest!   

Which is nice for the Danish people. 

Maybe it'll spark off a property boom there. 

It could be a 60 year interest free mortgage... Doesn't matter if there's no affordable properties and everyone is unemployed

 60 years..... Nobody is going to be alive long enough to pay it off

The average first time buyer in 2021 is about 35.........forty years before that the average age was around 22/23.

[Doctor Gollum]

I was being slightly facetious because the term and rate are irrelevant if you cannot afford the property or qualify for the mortgage

I had a cursory look at a mortgage on a £145k flat. And was told to either increase the deposit or extend the term substantially.

[Field Marshal Dr. Opti]

I was being slightly facetious because the term and rate are irrelevant if you cannot afford the property or qualify for the mortgage

I had a cursory look at a mortgage on a £145k flat. And was told to either increase the deposit or extend the term substantially.

I know.....

But it really wouldn't surprise me if it actually happens in the not to distant future.

[Field Marshal Dr. Opti]

Mortgages are getting ever longer. I think this is a pretty new development. I don't remember banks lending for more than 25 years when I first took out a mortgage.

[Field Marshal Dr. Opti]

I was being slightly facetious because the term and rate are irrelevant if you cannot afford the property or qualify for the mortgage

I had a cursory look at a mortgage on a £145k flat. And was told to either increase the deposit or extend the term substantially.

Are you able or willing to consider either option?

[TheBoy]

The solution to unaffordable house prices is less buyers.  So once again, the policy of the mass cull is the only sensible option.

[Sir Tigger KC]

Danish banks are going to start offering 20 year fixed rate mortgages at 0% interest!   

Which is nice for the Danish people. 

Maybe it'll spark off a property boom there. 

I wonder if the Vikings will be able to take out an interest only mortgage from the Danish banks?                                                                             

[Field Marshal Dr. Opti]

https://youtu.be/xRSGSb7_L2Y


Vikings can have an interest free mortgage for as long as they like.

[Broomies Mate]

The solution to unaffordable house prices is less buyers.  So once again, the policy of the mass cull is the only sensible option.

When a purchase, be it a toaster, lawn mower or even a house becomes unobtainable due to cost, the only solution is to reduce the cost.  Supply and demand usually dictates the price (rise or fall) of any given commodity.

You like your I.T TB.... look at the cost of GPU's.  nVidia and AMD can't make them fast enough (mostly due to BitCoin mining), so the second hand market has gone through the roof.  I recently sold a MSi 2070Super for £150 more than it retailed for 18months ago.

House prices are the same, demand is/was so high that the prices are artificially inflated.  It won't (or can't) last forever.

[deviator]

I don't know where you guys get your mortgages from. I've just renewed and extended mine and got 1.9% fixed for 5 years. (I extended it to buy a second house to let out, even that mortgage was only 2.08%).

All I do is get some figures from compare-the-internet type site, then go and see a mortgage advisor. He can get much better rates than me, sorts it all out and the money saved more than covers the £500 fee.

[STEMO]

I don't know where you guys get your mortgages from. I've just renewed and extended mine and got 1.9% fixed for 5 years. (I extended it to buy a second house to let out, even that mortgage was only 2.08%).

All I do is get some figures from compare-the-internet type site, then go and see a mortgage advisor. He can get much better rates than me, sorts it all out and the money saved more than covers the £500 fee.

I could get a rate of 1.9 to extend, but I don't want to extend, I want to finish it as quick as possible. By keeping my current rate and overpaying, I will spend less on interest.

[LC0112G]

I don't know where you guys get your mortgages from. I've just renewed and extended mine and got 1.9% fixed for 5 years. (I extended it to buy a second house to let out, even that mortgage was only 2.08%).

All I do is get some figures from compare-the-internet type site, then go and see a mortgage advisor. He can get much better rates than me, sorts it all out and the money saved more than covers the £500 fee.

Presumably you're putting a bit more than 5-10% deposit down though? Haven't looked for a while, but it used to be that you needed 50% deposit for BTL mortgages. The bank can be a bit more generous in their interest rate if they know they've only leant 50% of the value of a house and then have to re-possess it.

[TheBoy]

The solution to unaffordable house prices is less buyers.  So once again, the policy of the mass cull is the only sensible option.

When a purchase, be it a toaster, lawn mower or even a house becomes unobtainable due to cost, the only solution is to reduce the cost.  Supply and demand usually dictates the price (rise or fall) of any given commodity.

You like your I.T TB.... look at the cost of GPU's.  nVidia and AMD can't make them fast enough (mostly due to BitCoin mining), so the second hand market has gone through the roof.  I recently sold a MSi 2070Super for £150 more than it retailed for 18months ago.

House prices are the same, demand is/was so high that the prices are artificially inflated.  It won't (or can't) last forever.

So cut demand.  Without intervention, there will never be a significant drop in housing demand, as the population is constantly growing.

So significantly reduce the population, house prices come down.

[Migv6 le Frog Fan]

Yep, there has been a perfect storm with house price rises. A large growth in population in a short space of time - thanks to B. Liar.
Developers and Supermarket chains buying up land and just sitting on it.
Chinese, Russian and Arab buyers buying up lots of property in London, and often not even bothering to rent it out. Just sitting back and watching prices rise.
The biggest factor has to be population growth though I would imagine.
Politicians created the crisis, so they should take responsibility for it and do something to solve it.
They are doing the opposite at the moment though, with stamp duty holidays and the like to try and keep the market bouyant.
This is from people who claim to believe in market economics.
If the economy is in deep trouble, house prices should drop. Let it happen, and some good can come out of the economic chaos of the current crisis.