Thursday, 4 December 2008


The government proposes that those with mortgages who fall on hard times because of the economic situation are to be given mortgage relief for up to 2 years.Just like i was saying ages ago.Forclosures and evictions are not really a sensible or kind option and dont help the situation.This doesnt help with negative equity and more to the point if the current downturn/recession turns out to be something worse than the standard 21 month cycle then really all mortgages should be at a low fixed rate of interest that DOESNT go up for its entire duration.I disagreed with having very low interest rates initially but now there is no other option as the damage is already done.If the government is willing to bail out banks with lots of bad debt then they should also provide deposits for first time buyers to get them onto the ladder.It amounts to the same thing as bailing out/buying out/giving free money to banks anyway and it will get the housing market moving again or at least keep it steady

Get rid of ALL stamp duty.

No comments:

Post a Comment