Housing

[wookie70]

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On CPOs, I read about an individual in Hastings who renovated an empty office block into flats with their own money and has since been given £1.5 million from the council to do more.

I know of three large department stores in the centre of Perth that have lain empty for a number of years crying out for something similar. Bound to be the same in most cities.

I see liitle point in Government promises where developers are the decision makes. I'd love to see Labour build millions of council houses on sites like you mention, remove any planning permission from development that have broken ground and sat on it for years and combine it with some form of apprenticeship and training where those building the houses could be given preferential treatment in those particular houses. It would be separate from normal social housing but hopefully slash demand in renting and build up housing stocks.

[Ozyhibby]

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I see liitle point in Government promises where developers are the decision makes. I'd love to see Labour build millions of council houses on sites like you mention, remove any planning permission from development that have broken ground and sat on it for years and combine it with some form of apprenticeship and training where those building the houses could be given preferential treatment in those particular houses. It would be separate from normal social housing but hopefully slash demand in renting and build up housing stocks.

There are lots of things govt can do to increase housebuilding, both private and public. There is not much evidence of them being interested.
They just announce targets and wait until they are missed.


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[Andy Bee]

Loosely linked to housing but I thought it was quite interesting. Halifax have brought out an 18 month fixed mortgage. Decent rate considering at 4.37% but 60% ltv needed so a 40% deposit. £1499 fees though. I think it shows mortgage companies fear a recession and the interest cuts that go along with it.

[danhibees1875]

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Loosely linked to housing but I thought it was quite interesting. Halifax have brought out an 18 month fixed mortgage. Decent rate considering at 4.37% but 60% ltv needed so a 40% deposit. £1499 fees though. I think it shows mortgage companies fear a recession and the interest cuts that go along with it.

That seems like a lot to pay for such a short term - be reapplying for mortgages in a year and having to do it all again!

I'm struggling to understand the logic in your conclusion. Surely if they expected interst rates to drop they'd not be wanting people on short deals and the better rates would be on the longer term products?

[Andy Bee]

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That seems like a lot to pay for such a short term - be reapplying for mortgages in a year and having to do it all again!

I'm struggling to understand the logic in your conclusion. Surely if they expected interst rates to drop they'd not be wanting people on short deals and the better rates would be on the longer term products?

I don't think many are taking fixed rates at the moment DH, consensus is tracker is the way to go so the shorter term may bring them in on fixed. If Halifax sense that mortgage rates are going to fall and Bailey has came out and more or less stated they'll be cut four times next year then Halifax will at least lock people in on above 4% for a short time.

[RyeSloan]

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Loosely linked to housing but I thought it was quite interesting. Halifax have brought out an 18 month fixed mortgage. Decent rate considering at 4.37% but 60% ltv needed so a 40% deposit. £1499 fees though. I think it shows mortgage companies fear a recession and the interest cuts that go along with it.

Mortgage companies don’t fear interest rate cuts particularly. They match their liabilities as and when, locking in their margin as they go.

Sure if rates go back to where they were nailed to the floor (unlikely) then their margin will have to shrink but this product is nothing more than them seeing a niche that they think they can fill.

With such a hefty fee they are more likely to be hoping just to fool a few into thinking it’s a good deal than anything more insightful.

[Andy Bee]

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Mortgage companies don’t fear interest rate cuts particularly. They match their liabilities as and when, locking in their margin as they go.

Sure if rates go back to where they were nailed to the floor (unlikely) then their margin will have to shrink but this product is nothing more than them seeing a niche that they think they can fill.

With such a hefty fee they are more likely to be hoping just to fool a few into thinking it’s a good deal than anything more insightful.

If there's 4 cuts next year that'll take rates well below 4% and closer to 3%, I think it's Nationwide hinting it could go as low as 2.75% with others going as high as 3.75 by year end, all assuming inflation comes down. I agree they're just trying to hoover up anyone they can on a fixed rate over 4%.