Business UK
NO DEPOSIT mortgage scheme made available to renters
#mortgage #housingcrisis #housingprices #renterstohomeowners
‘It’s a repeat of something that was brought to a close in 2008 when the property market crashed.’
Property Expert, Jonathan Rolande, details a no-deposit mortgage scheme aimed at renters.
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Plain-speaking, straight-talking – Michelle Dewberry delivers her individual take on the day’s news.
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Join Patrick for two hours of spirited debate and news making interviews. Top guests tackle the issues that matter, with a sharp take on every story.
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Donald Trump hails “extremely positive and productive conversations” with China as the President speaks at a state banquet with the Chinese President Xi Jinping in Beijing.
#DonaldTrump #China #WorldPolitics #WorldNews #GBNews
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Watch as Will Kensington expresses concern about the state of the UK, arguing that Downing Street is no longer a place of power but has instead become Britain’s most expensive Airbnb.
This comes as Andy Burnham is set to become the UK’s seventh Prime Minister in a decade, with seemingly no one challenging the “King of the North” for the country’s top job.
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Business UK
Cabinet Office DEMANDS LGBT and ethnic figures on bank notes over DIVERSITY – ‘RIDICULOUS!’
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‘We have real pressing financial issues as a country. I find focus on stuff like this quite ridiculous!’
Nana Akua hits out at the Cabinet Office’s suggestion that banknotes should featurre prominent ethnic or LGBT figures from British history.
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@leylaa5272
December 28, 2023 at 8:03 pm
The only way this would crash is if people have no choice to accept where they would like there house or else they would be business closing down and service being poor!!!
@iqbalahmed3122
December 28, 2023 at 8:03 pm
History repeats itself. People learn nothing.
@laurenjane6432
December 28, 2023 at 8:03 pm
It’s easy for these people to say, he is clearly speaking from the house he owns and I’m sure they also own their own houses. Young people are on their knees, their rent is astronomical and the government is doing nothing. Thank God this mortgage is coming to give young people an opportunity to get away from greedy landlords and have something of their own for once.
@robzombie5928
December 28, 2023 at 8:03 pm
Well the banks think and past evidence supports it that if/when this blows up in there face the government will bail them out with public money.
@robtheplod
December 28, 2023 at 8:03 pm
So boom and bust is still with us then! we've learnt absolutely nothing.
@unclemonty9506
December 28, 2023 at 8:03 pm
The super wealthy are buying up property like there's no tomorrow pushing up prices and putting them well out of reach of future generations of normal people. There's plenty of housing out there but you don't stand a chance unless you are well off to start with. It's the calculated and deliberate actions of a global elite to push us plebs into rental market. Remember, in 2030 we will own nothing and be happy
@riffraff8490
December 28, 2023 at 8:03 pm
I hope the Australian experts don't go down this path because this smacks of ruin.
@TG-ts3xn
December 28, 2023 at 8:03 pm
Hold on to your butts!
Imminent CRASH coming!
@Para-rt9uk
December 28, 2023 at 8:03 pm
F that. Save up for a mortage? Just come across on a boat or get yourself knocked up on a one night stand. Housed within 1 year + benefits.
@annatkinson2197
December 28, 2023 at 8:03 pm
What about Klauss Schwabb mantra ‘you will own nothing and be happy about it’ ?
@hassyg4083
December 28, 2023 at 8:03 pm
Hope you all happy what conservatives did to the housing market. it is your dangling carrot for capitalism in Britain. hope oneday own house like Charles or Sunak. work hard please
@Ineedahandle75
December 28, 2023 at 8:03 pm
This is a terrible idea.
@nyc_girl_in_london925
December 28, 2023 at 8:03 pm
They are trying to crash the housing markets and then let the likes of Blackrock buy up whole neighbourhoods for pennies. Similar programs have recently been brought to the markets in other Western Economies. The other goal is to bring on banking and financial system collapse to consolidate banking powers.
@captainbuggernut9565
December 28, 2023 at 8:03 pm
No deposit schemes are not all there cracked up to be. Income multiples still mean its impossible for many people to buy a house. Heap on top of that affordability tests and credit checks and it's still impossible for many people. Those people pay their rent which is often more than a mortgage but can't borrow to buy because of made up bureaucracy. Until it changes the housing crisis will deepen. House prices need to come down and wages need to go up. Meanwhile social mobility has ground to a halt.
@meredithisme3752
December 28, 2023 at 8:03 pm
They brought a similar thing in Australia turned out badly because interest rates rise and your underwater pretty quickly
@angr3819
December 28, 2023 at 8:03 pm
We saw this before the crash in 2008, at a time mortgage rates were also increasing. That didn't end well for many who took no deposit mortgages.
@paradox7358
December 28, 2023 at 8:03 pm
A. Lower house prices by building more housing.
B. Reduce population growth by limiting immigration to decrease housing demand.
C. Go back to the same policies that lead to the 2008 market crash.
@CountryGalB
December 28, 2023 at 8:03 pm
My grandparents bought their house in 1975 for £6,000. The average UK salary back then was £4,479. Today it is £31,000 and £297,000. That's the problem! Unaffordable.
@stephfoxwell4620
December 28, 2023 at 8:03 pm
So just as interest rate quadruple and house prices fall 10-15% they offer 100% mortgages on depreciating assets.
They have lost the plot.
Banking crisis anyone?
@gillps5130
December 28, 2023 at 8:03 pm
No deposit mortgages were why the banks crashed in 2008 and interest rates were practically zero until just recently. USA suffered drastically.
Can't anyone learn anything.
Our housing problems are due solely to immigration.
@garywebster3585
December 28, 2023 at 8:03 pm
What could possibly go wrong. Defaults, gambling on sub prime loans, bank collapse and bailouts. Its like the unaparty are willing destruction.
@Daisy-tl2lh
December 28, 2023 at 8:03 pm
so its one in the eye for all those who spent years saving up and then missing out because someone else gets something for nothing!
@saxonstacker1078
December 28, 2023 at 8:03 pm
Well, Banks have gotta keep the Ponzi rolling. Free houses for new foreign suckers. You see, houses need to continue creating demand to justify their ludicrous prices just so profits can be taken. If the people mess up, banks always win. Unless the demand crashes, they will always need new blood to buy into the 'dream'. Totally corrupt system. Pity they cant sort out the homelessness.
@oldshiny3012
December 28, 2023 at 8:03 pm
hopefully if this bank goes under in the future they don't get a bailout
@Bobisalive
December 28, 2023 at 8:03 pm
this is going to go well… why did i see 2008 just go past my window…
@perolagrande
December 28, 2023 at 8:03 pm
If you can afford to rent, you can afford to buy too. However, to allow someone to buy without a deposit is irresponsible, and will contribute to a future housing crash.
@JamesJohnAgar
December 28, 2023 at 8:03 pm
With some banks in the US already collapsing or being taken over & interest rates starting to rise, what could possibly go wrong here!!
@MrIkjldsa
December 28, 2023 at 8:03 pm
If you can't even save 10% for a deposit, the house should not be affordable to you especially with the current high interest rate.
@oldshiny3012
December 28, 2023 at 8:03 pm
seems to be the bankers don't learn from their mistakes
@marmat5213
December 28, 2023 at 8:03 pm
So basically the housing market is about to collapse again.