Mortgage approval sinks to record low?

Question

Which means more people are going to be applying for council housing - and whos gonna pay for that? The tax payer!!! Good old Blighty!

Answer 1

There are hardly any council houses left anyway. Immigrants have got most of them and are shoved straight to the top of the list for the rest.

British born citizens are basically screwed either way.

Answer 2

Mortgage approvals should sink to  a record low. Its because they handed them out willy nilly that we are in the mess we are in right now.

Answer 3

What it will mean is that there will be a glut of housing...think of all the apartments built in the last two years .....now empty and can't be sold....so OK..it is hard to get a mortgage now, but in the future, first time buyers should be able to more easily get on the ladder.....

Answer 4

No i think more people will be renting.  

Those that have rental property will be able to charge more rent as the demand increases.

Those with more money will be able to buy more rental property. etc etc..

How wonderfully 10 years of a "socialist" government has managed to redistribute wealth.

Answer 5

Factually you are wrong. Thatcher tried to make sure that council housing was a thing of the past - not building any more and selling the existing stock off at knock down prices. Don't you realise that council tenants pay rent? The tax payer does not pay it for them. Banks/Building Societies have gambled with funds for years in their greed for bigger and bigger profits. They have now been found out and the present situation is down to this greed and mismanagement. For years lenders lent people money well above what they could realistically afford. They were then as quick at taking repossessions when things did not work out. Of course it was never their fault but the borrowers for overstretching themselves. Perhaps this is a wake up call for lenders to be far more efficient and realistic but I doubt it.

Answer 6

Like a long time ago, no one owned their own house unless they were rich!!!!!

Answer 7

Nonsense.

If people could have afforded a morgage a year or so ago, if they are now being declined, they would still have enough money to rent.

Answer 8

Rubbish.

Mortgage Approvals are at a record low because fewer people are APPLYING for them. That is the bit the media is leaving out, to produce sensational news.

Answer 9

You will not be able to turn to council housing as most of them have been sold off under the 1980 Act.

Answer 10

i dont think so most ppl now cant affors £600 a month for a mortgage which is why there applying for council houses where the rent on average is £200-£350  which i suggest they will be able to afford themselfs,

taxpayers only fit the bill when it's ppl on benefits, and not everyone on benifits are on them to be lazy before that starts another argument