Property starting to move quickly down here now-prices on th

[Richard]

There is a normally a cap for a landlord with multiple 'but-to-let' mortgages - usually imposed, after a certain number, by the sensible lender who is taking the risk, but landlords can get round this rather easily by putting more mortgages into their "partner's" name or anyone else they trust.
looking on a period of many years the graphs of wages versus house prices show some good correlation.
I don't see how cheap borrowing has fuelled or will cause a boom in home ownership particularly since the steep cost of a deposit (despite being partly offset by the introduction of a gov't scheme to help with the cost of this) is not made any easier for those whose wage multiple in any case doesn't meet the criteria of the lender.

There will always be some who either don't want or can't afford mortgages even if they are very cheap.

London is the 'power house' which seems to be difficult to control.







Time flies like an arrow; fruit flies like a banana.

[directweb121]

Thanks, Richard ! I certainly hope it provides you with lots of Gardening Elwood inspiration!

[Richard]

No political party in power has the spare cash to build houses for rent and the "welfare safety net" is actively supporting landlords who fill this shortfall.
So house builders in the private sector are seen as imortant indicators by the government.



Time flies like an arrow; fruit flies like a banana.

[roy]

[quoted]
Mymblesdaughter wrote:
Renting in other European countries is a different kettle of fish. The tenants have much more protection and the rents are capped.

Having rented and owned a property, I then rented again and absolutely hated it. There are crazy rules about not putting up pictures on walls, you can't have pets. Many of them don't even want children. You had to have the place inspected every 6 months. If you are renting you always feel like a second class citizen in this country.

There are good landlords out there and we had one who was lovely but many of them don't want to do work that's needed as it reduces their profits.

Do you rent a place Roy? I own my flat now and it feels completely different. It's such a shame we either need to bring in more rules to protect renters or build more houses to make it cheaper to buy.
[/quoted]


Hi,yes I rent and my landlord is a housing asosiation,I am quite happy to pay full rent and council tax and even though I could get a mortgage I have no intention of doing so.Unlike the private sector I dont get hassle and have a secure tennancy.Home ownership,no thanks.



Enjoy life.you never know when it will end.

[Richard]

I think in Hastings, in Victorian times, renting was prevalent and it was much cheaper and more realistic than owning in times when mortgages were the preserve of the wealthy, including land-owners.
In recent years, in this country, things have changed entirely, cheap mortgages have been available to all and renting is not much cheaper than a mortgage.
Additionally the difference in attitude reflects the difference in the housing markets over the past 10 years UK residential property prices have nearly doubled, while in Germany they have risen a mere 2%-3%.
Also the German Banks have been much more cautious in granting mortgages to people without a cast-iron proof of ability to repay the loans and ownership has never been an option to people without substantial means.
I believe there are similar "barriers" in many continental regions - so it is not just a matter of renting for the sake of it, there are good reasons.

I can agree with Roy when he says he wants to rent and is happy in a housing association but I think there is often a waiting list and therefore less opportunity to move about at will.




Time flies like an arrow; fruit flies like a banana.

[Herring_Gull]

[quoted]
Richard wrote:
I think in Hastings, in Victorian times_ _ _ mortgages were the preserve of the wealthy, including land-owners.
[/quoted]

Without the backing of evidence you are in danger of talking out of your rear there Rich.

I have an mortgage on our place dating from the 1880s and in was held by a painter and decorator who was selling it to another tradesman.

Pucker up.

[Richard]

I believe there was a 'Bricklayer' living in St. Helens Road, towards the rail Viaduct in the 1880's but whether he owned or rented I am not sure.
Either way this does not really show whether the mortgages were relatively expensive or difficult to obtain for the ordinary member of public in the 1880's but I suspect they were beyond the reach of many_ _ _

Richard
(puckered up - backside and all !!)





Time flies like an arrow; fruit flies like a banana.