May then went on to say that the cap on how much councils can borrow against their housing revenue account assets in order to build houses “doesn’t make sense,” before adding: “today I can announce that we are scrapping that cap.” https://www.mortgagestrategy.co.uk/may-announces-end-to-council-borrowing-cap/ Do we really have a housing shortage in Scotland? Rates are low, you only need a 5% deposit and there are plenty of terraces and flats on the market so, can someone tell me where the shortage is??????
I have never been a fan of Help to Buy but the article below explain, eloquently, more reasons why it is not a good idea. https://www.mortgagesolutions.co.uk/news/2018/09/18/help-buy-skewed-housing-market-needs-targeted-cochrane/?utm_source=customsell&utm_medium=email&utm_campaign=ms-house-advert-1809-1537265992
This article goes on to say that the government should provide state loans so young people do not need to rent. https://www.theguardian.com/society/2018/jul/29/housing-renting-mortgages-loans-home-ownership-first-time-buyers?CMP=fb_gu The purposely seems to run in the same manor as student loans. I am not sure if this is a good idea. Where is the government getting the money?
This is a good article. http://www.financialreporter.co.uk/finance-news/first-time-buyers-outstrip-homemovers-for-first-time-since-1995.html I have noticed that home movers are reluctant to move until they have found the perfect home. In the past they would list there property and then go find a new house. Not anymore. This makes for a shortage in the house market. Perhaps people are choosing to stay put.
Sir John Cunliffe stated that the Bank of England base could be below 2% for the next 30 years. http://www.mortgagesolutions.co.uk/news/2018/07/13/bank-england-base-rate-stay-2-30-years/?utm_source=customsell&utm_medium=email&utm_campaign=msol-mai-house-ad-1307-1531495622 Could this be true? With the amount of debit people are accumulating it makes since to keep rates low in order to avoid a financial collapse but what happens when the debit becomes to overwhelming? Something to ponder
Major university states that Japanese Knotweed does no more damage than trees http://www.mortgagesolutions.co.uk/news/2018/07/10/lenders-urged-overhaul-japanese-knotweed-policies-research-discovers-limited-structural-impact/?utm_source=customsell&utm_medium=email&utm_campaign=msol-house-advert-mai-first-send-1007-1531216353 The research confirms that banks need to drop the silly notion that this plant will cause major structural damage to a home that they have a mortgage on. Lets hope the lenders will change
This is a must read for all http://www.mortgagesolutions.co.uk/news/2018/07/09/one-seven-homeowners-expect-mortgage-70/?utm_source=customsell&utm_medium=email&utm_campaign=msol-house-advert-mai-first-send-0907-1531129070 1 in 4 of us can expect to be paying for a mortgage after we retire. This is a scary prospect as most of us will be earning much less than we currently earn while working. What about people who rent??? I think it would be foolish for us to think that the Government will provided enough benefits
Interested in online estate agency? Read this https://www.mortgagestrategy.co.uk/purplebricks-announces-further-losses-despite-revenue-growth/ Looks like Purple brick could be the next Amazon or could be another tragic on line business that could not pull a profit with cheap fee DIY estate agency. Time will tell.