cheltenham_villa

I think it will be more of an indication of the governments intent in this space. Were coming upto 25 years since these mortgages were sold so it's the first time you will start mass maturity. C50k of them are due to mature in the UK this year. Lots of remedial action has been taken over the last few years to encourage people away but I suspect at least half of these will have a problem.

I remember the first time I went to visit my friends, my mum was insistent i took sandwiches so they wouldnt think we were poor. She also gave me my dads lunchbox as it was the only one that wasnt an ice cream tub

Thank you, for my villa supporting alligiences I claim to be from the Midlands, when selling my house I'm all about the south west.

Is that the society we live in? Would you expect headline A to be "banks quite rightly repossess homes of people who didnt honour the terms of their mortgage" Or Headline B "banks in latest mis selling saga, thousands risk losing their homes because they were encouraged to take risky interest only mortgages" We live in a compensation culture.

I live close to Cheltenham but grew up close to the Midlands. Mentioned twice but in the same conversation and context, I dont want you to think I spend my days worrying about it It is something I feel quite strongly about and is probably something that I've been more aware and reflected on recently. Growing up I was very aware of how poor my family were. For school meals I was made to stand in a particular queue, when my parents coildnt afford school trips I was made to work alone (often feeling punished as a result). I hid where I lived as I knew my mainly middle class friends and their parents would feel intimidated. I think I now look for it and when you look for something you see it more. I'm now incredibly middle class, career in banking, a shame to my roots (and probably VT) but as a result I see it more. Young lads who cant find a place in a football team because of their families or the street they live in. More recently a very strongly performing c of e school in Cheltenham repointed their catchment area to exclude a council estate 50 yards from their front door. So now I try to stop people experiencing the same, I'm a school governor and take a strong interest in those from socially deprive homes. I'm a football coach and will do all I can to make sure children that want to play can play, if their parents cant afford subs, shin pads or boots I make sure the kids have them but arent made to feel like second class citizens. I should also add that I loved my upbringing, very similar, huge estates, so many friends, football games for hours.

I literally havent seen anyone link us, only reports that we have been linked. Is it now enough for the basis of the link to be only that they think someone else has created a link but they will not disclose who that is?

One of the huge catastrophes you talk of could hit us soon. The maturity of interest only mortgages. A material amount of these are due to expire and many of these residents do not have the capital to repay the mortgage and will be forced into sales. Without government intervention, this will likely see an increase in repossessions or sales below Market value. This could cause some of the house price crash that many are asking for, it comes with victims though. Unfortunately those victims are most likely to be close to retirement age with with a below average income where they believe an interest only mortgage was their best opportunity of owning a house.

Maybe it's the wrong argument, house prices are high, we cant really change that without screening over a lot of people. It's less the benefit of high prices, more the impact of a house price crash.

It also doesn't really allow for scalable development either. I just think integration is better and it really helps with the stigma of social housing that I know I experienced growing up. Councils should be setting the price, they allow the planning, make it conditional. You can only build if you build x houses and sign them over. They need to be built to an agreed standard and the cost is a fixed percentage of the average sale price. That way houses will have to be at market value and you will pay a lower price.

Enjoying this debate. Another interesting thread has been the debate around social housing, its clear the government need to prioritise this more, I for one would not want to see large scale social housing being developed in concentrated areas. I like the modern method of integrating social housing into other new developments. I grew up in social housing and hate the stigma that comes with it.

My point is that you're ignoring the millions in the UK that already have a mortgage. If my house is worth 33% less, my existing mortgage wont adjust so I'm paying 13% on what I owe today. My belief is that this would bankrupt the vast majority of UK how owners

I could see a rental scheme linked to compulsory purchase. Is it harder now to get on the property ladder or just more expensive?

But that ignores the impact on kids today if we see a return to 13% rates and half the country ends up in repossession. The system does need to change to consider future generations. That change does not need to be limited to a house price crash though. That's why we see part ownership, stamp duty cuts, first time buyer support, help to buy isas. All things designed to make housing affordable for the next generation.

I dont disagree with many of your points, I think house prices are way out of kilter with income and that the low interest rates are largely to blame. What I dont believe is that a readjustment is possible any more. Firstly the UK cannot afford to return to 13-15% interest rates, the average mortgage balance is far above balances of those days, as you point out people are borrowing 4-5 times their earnings and spending 50% of their income on property. An increase of 2-3 percent would simply cripple many people. Secondly we now have mortgage rates linked to house prices. We didnt back then. So if my house prices drops and my borrowing is now 90% I pay more. It's in everyone's interest that house prices stay high. Thirdly the government continue to inflate the house market with stamp duty cuts, help to buy schemes. It's been a priority for all governments, this wont change. Fourthly, fixed deals. My low interest rate will remain low for 10 years, like many other people. The low cost of borrowing has meant people have secured borrowing for a long time. I understand all the points you make, I can see the house price increase slowing, it has to I simply do not see a return to those days, the country cannot afford it, times have unfortunately changed.

but if the housing market collapsed to a sensible level, i would still owe the bank the same amount of money, same goes for every other home owner. if my home became worth less than my borrowing then my remortgage options become 0, im forced onto a higher mortgage rate so now im paying even more money. i think a housing market collapse would cripple this country and the economy.

i wouldnt expect this to have such a huge issue on the housing market, only a small proportion of house sales have tenants in situ. i could see some landlords thinking twice about purchasing another property but its more likely they will should look for vacant properties or those part of a chain.

Anyone else craving a bit of live football. Restrictions have been eased for non league games so on Tuesday evening I'll be off to Kayte Lane to watch my local club, Bishops Cleeve in action against Worcester City. I intend on watching a bit more non league football this season, couple of pints, cheese and onion roll, half time raffle and my boy queues up at full time for a kick about on the pitch. It's how I remember football, every penny you spend is welcome and needed, a world away from the premier league. Anyone else indulging?

But how do you get money back on your investment. I think it could be years until you see big crowds returning. I'd imagine clubs will be very nervous about any investment right now and will more likely sit on money

Who pays the other 50%? Assuming costs need to be met, you risk forcing repossessions here. I think the solution here has to be some form of mediation, you need a time limited plan that helps the tenant to get back on their feet. Maybe some government intervention to help support rent costs for those on a plan but it needs to be honest by both parties. Is the tenant going to be able to afford this property in 6 months time? If not you need to start considering options not just hoping that the market bounces back.

I cant see any point in a loan and our squad is not blessed with strikers. Given the amount of games in a small amount of time this year we will need a squad we can rely on and Keinan proved he can play a part. I just hope we have recruited well enough so that hes not first choice.

No louie Barry in wales?

A position that hopefully we will improve on, AEG from the bench or coming into the team for 10 games per season is fine for me. He always gets or creates a chance I just feel like it's a position that we could be much better in.

This Bremen guy, hes just another fan isnt he?

If you look at the links, were seeing several for the same position. Clearly we want a forward who can also play wide, a central midfielder, possibly a keeper. Agree with the sentiment though, our squad with another year together should be better. I'd be focused on players to improve the 11.

I like Dean's approach, I dont think you need to inspire fear, you need to have the players on your side. Many managers are different though, I dont think the liverpool players fear Klopp but they certainly respect his authority. It's a very fine balance, the more I hear of dean though, the more I like him. I also think stability from a management team is often overlooked, with 6 games to go it's clear that they considered removing dean (something many wanted), the decision to keep him was vindicated and we head into next season a much more cohesive unit that has achieved something special together.