[John_D]

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 8:30 am  

WIZEB wrote:

Clegg is going to let parents and grandparents use their pension pots as security for their offspring to get mortgages and to get their feet on the property ladder.

The best thing that could happen to the housing market is the reintroduction of the three time salary guideline in terms of what you can borrow.
I'd say I hate banging on about this, but I really don't

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 8:56 am  

WIZEB wrote:

Clegg is going to let parents and grandparents use their pension pots as security for their offspring to get mortgages and to get their feet on the property ladder.

Yup, sounds like a real idea. Let parents & grandparents use their pension pot so the kids can get a mortgage. Then the kids can rermortgage the gaff to pay for the care of their parents & grandparents. I can see this one has been thought through carefully and predict it will fly all the way to the wastepaper bin

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 9:13 am  

cod'ead wrote:

Yup, sounds like a real idea. Let parents & grandparents use their pension pot so the kids can get a mortgage. Then the kids can rermortgage the gaff to pay for the care of their parents & grandparents. I can see this one has been thought through carefully and predict it will fly all the way to the wastepaper bin

Aye, it sounds a load of bollards.

Mind, I'd be feeling desperate if I was lagging behind Nigel and his party in the polls.

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 9:32 am  

John_D wrote:

The best thing that could happen to the housing market is the reintroduction of the three time salary guideline in terms of what you can borrow...

Agreed.

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 10:19 am  

John_D wrote:

The best thing that could happen to the housing market is the reintroduction of the three time salary guideline in terms of what you can borrow.
I'd say I hate banging on about this, but I really don't

Yep.
Average wage = £25,000
Average house price = £240,000

Also there's the issue of rent. There are too many people paying effectively a mortgage rate as rent.

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 10:47 am  

Him wrote:

Yep.
Average wage = £25,000
Average house price = £240,000

Also there's the issue of rent. There are too many people paying effectively a mortgage rate as rent.

I came up with a solution to affordable rents some time ago

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 11:53 am  

John_D wrote:

The best thing that could happen to the housing market is the reintroduction of the three time salary guideline in terms of what you can borrow.

It is already the case, which is what is causing the problem, prices for most of the housing stock on the market are far beyond three times the average 25 year olds income.

[John_D]

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 12:07 pm  

JerryChicken wrote:

It is already the case, which is what is causing the problem, prices for most of the housing stock on the market are far beyond three times the average 25 year olds income.

Far beyond three times mine. It's ludicrous.
If it were the rule, then prices would have to return to sensible levels

Re: Clegg's apology - death throes of a doomed party leader? : Mon Sep 24, 2012 12:12 pm  

JerryChicken wrote:

It is already the case, which is what is causing the problem, prices for most of the housing stock on the market are far beyond three times the average 25 year olds income.

And when you then add into that equation the increasing use of one-year and zero-hours contracts (particularly for young people) it becomes even more difficult – including with even to rent.

The short-sightedness of so much going on in this country at present pretty much beggars belief.

[Kosh]

Re: Clegg's apology - death throes of a doomed party leader? : Tue Sep 25, 2012 8:20 am  

John_D wrote:

Far beyond three times mine. It's ludicrous.
If it were the rule, then prices would have to return to sensible levels

Someone who's bought a house for £240k is unlikely to be able to afford to sell it for £75k. And that's the scale of the drop that would be required to bring house prices back into line with average earnings. So although it would work for new builds the existing housing stock would be a different matter entirely.