FabSwingers.com forum: 251% surge in 35 year mortgages

By *ingdomNightTimePleasures OP Man
41 weeks ago

nearby

Over a five year period 2019 - 2024 there has been a 251% increase in the number of older borrowers taking out longer loan terms. And there has also been a 56% increase in the number of borrowers aged 31-35 taking out these lengthy loans. (FOI data)

With the state pension likely to be further deferred it appears to be a life of debt servitude or never ending increasing rents (+6.7% the last year).

Where are the government with affordable housing solutions.

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By (user no longer on site)
41 weeks ago

It’s a difficult situation for people no doubt.

Housing prices are determined by supply and demand.

If you want to decrease the prices you have to increase the supply or reduce the demand.

We aren’t prepared to reduce demand so you have to increase supply, but I can’t see how that’s going to happen.

We live in a country bogged down by environmental red tape, safetyism, overzealous regulation and inaction.

The government hasn’t got any money to do anything. It’s a shame but if it hadn’t wasted so much money on crap over decades maybe it would have had the fiscal headroom today to help its citizens.

Young people should leave the country and move somewhere with more favourable prospects.

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By *resesse_MelioremCouple
41 weeks ago

Border of London

Longer term mortgages are a lot more common in many other countries. The recent interest rate shocks have made people very aware of the risks of short term mortgages with the inherent fluctuations.

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By (user no longer on site)
41 weeks ago

"Over a five year period 2019 - 2024 there has been a 251% increase in the number of older borrowers taking out longer loan terms. And there has also been a 56% increase in the number of borrowers aged 31-35 taking out these lengthy loans. (FOI data)

With the state pension likely to be further deferred it appears to be a life of debt servitude or never ending increasing rents (+6.7% the last year).

Where are the government with affordable housing solutions. "

The government are allowing this trend simply because they will not take a stand against those who are buying up our assets in terms of housing, and land.

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By *hrill CollinsMan
41 weeks ago

The Outer Rim

With the state pension likely to be further deferred it appears to be a life of debt servitude or never ending increasing rents (+6.7% the last year).

Where are the government with affordable housing solutions. "

or they can easily afford it on their enormous private sector pensions more likely.

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By (user no longer on site)
40 weeks ago

"It’s a difficult situation for people no doubt.

Housing prices are determined by supply and demand.

If you want to decrease the prices you have to increase the supply or reduce the demand.

We aren’t prepared to reduce demand so you have to increase supply, but I can’t see how that’s going to happen.

We live in a country bogged down by environmental red tape, safetyism, overzealous regulation and inaction.

Young people should leave the country and move somewhere with more favourable prospects. "

Seeing as most countries in the world has the same problem it has nothing to do with wasting money.

It's down to your wealthy businesses making more money by hoarding land instead of actually building homes for the good of the majority

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By *uffolkcouple-bi onlyCouple
40 weeks ago

West Suffolk

As has been said, it’s supply and demand. We have a growing population and that is outstripping supply by ever increasing margins.

But if supply were to ever outstrip demand to a level where prices fall, that would create negative equity for a lot of people.

A freeze on house prices and rents could be a way to increase the affordability of housing over a period of time, but I’m not sure that’s even feasible.

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By (user no longer on site)
40 weeks ago

Companies could built the homes if they wanted to, but the less homes they build the more the land and homes they do own increase in value. Therefore disincentives them to build

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By (user no longer on site)
40 weeks ago

Privatisation in water and building companies has gone too far!!!

We are now living thatcherism on steroids and it doesn't work.

The state needs to take control and do stuff in the interest of the people.

Otherwise riots are coming, I know the right want to punch brown people but they aren't the problem.

The problem are the people extracting our money for their greed

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By (user no longer on site)
40 weeks ago

And they all look around and punch brown people or rather burn people in hotels.

Because that's who's had your money for the past 40 years

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