Mortgage Lenders Bending Over Backward to Help Beleagured First Time Buyers
There is a good article in today's Independent - http://money.independent.co.uk/property/homes/article2068007.ece- which looks at all the initiatives, both government inspired and those by the mortgage lender's themselves to extend credit to first time buyers to buy property.
And they aren't doing this out of altruistic reasons of course! With interest rates currently low the lenders figure their default risk is low. And as long as unemployment and / or interest rates don't go up too much, they should be OK.
Which all got me thinking....
At my talks at the Home Buyers Show back in September, I asked the audiences what they thought the avergage London property price was in 1994 (having given them the figure for October 1988)
The first three winners got a free copy of my book, "Successful Property Letting"
Lots of people came up to the stand to try to guess the answer - but only one man won.
The respnses told me how many people had already forgotten that property prices dropped about 30% between 89 and 94 - most thought they would have increased over this time!
So when I read the Indy article today, I thought how I'd love to pose the same teaser to whoever sets policy at the mortgage lenders.
I bet you they have forgotten the great property crash too - or were still at school at the time!
Go back to main site: www.lettingfocus.com
PS Celebrated a milestone this week as the book went through 10,000 sales and continues to be the UK's top selling buy to let book. (Just don't expect to find it at Books Etc! No wonder Waterstones and Amazon are cleaning up the book trade!)
A new print with some minor changes to the text should be hitting the shops soon.
PPS For property news relevant to landlords the Indy (Wednesdays) and the Times Bricks and Mortar (Fridays) are the best of the broadsheets.
And they aren't doing this out of altruistic reasons of course! With interest rates currently low the lenders figure their default risk is low. And as long as unemployment and / or interest rates don't go up too much, they should be OK.
Which all got me thinking....
At my talks at the Home Buyers Show back in September, I asked the audiences what they thought the avergage London property price was in 1994 (having given them the figure for October 1988)
The first three winners got a free copy of my book, "Successful Property Letting"
Lots of people came up to the stand to try to guess the answer - but only one man won.
The respnses told me how many people had already forgotten that property prices dropped about 30% between 89 and 94 - most thought they would have increased over this time!
So when I read the Indy article today, I thought how I'd love to pose the same teaser to whoever sets policy at the mortgage lenders.
I bet you they have forgotten the great property crash too - or were still at school at the time!
Go back to main site: www.lettingfocus.com
PS Celebrated a milestone this week as the book went through 10,000 sales and continues to be the UK's top selling buy to let book. (Just don't expect to find it at Books Etc! No wonder Waterstones and Amazon are cleaning up the book trade!)
A new print with some minor changes to the text should be hitting the shops soon.
PPS For property news relevant to landlords the Indy (Wednesdays) and the Times Bricks and Mortar (Fridays) are the best of the broadsheets.
This entry was posted by lettingfocus, on
Wednesday, December 13, 2006.
