Economists heap pressure on Osborne over Help to Buy
I don’t understand this argument. Property prices in London and the South East continue to rise, therefore a 5% deposit is becoming larger every month.
Rent in London is higher than anywhere in the country, making it harder to save for a deposit in the first place. HTB2 is still needed and is not the cause of the housing boom in the South. We need to build more houses. End of.
Good Mortgage Man
Renting cheaper than buying in 87% of UK
Renting can be cheaper than renting in year one but buying quickly becomes less expensive as rents inflate while mortgage repayments do not. Also the mortgage is only for 25 years while renting is for life. Finally, buying results in the acquisition of an appreciating asset.
The savings from buying will total to hundreds of thousands, perhaps as much as million pounds, depending on the variables. I should have thought a company like Countrywide could perform the simple cashflow calculations necessary to define the true benefits.
Brian Hall
Financial Ombudsman reports record number of mortgage complaints
How many of these complaints were lender sales against broker sales and what was the most common reason for a complaint… ie client did not know they had interest-only.
The ambulance chasers are already looking at ways of encouraging people to say they did not understand they had an interest-only mortgage, despite it being on every mortgage offer as a clause. A third of the complaints upheld is worrying and statistics would be good as to what was upheld.
Julie Angulatta
Thank you for your comments this week
