Owning your own home

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Howard in reply to @hippy

This property bubble ain't bursting is it?

Not if but when.

When feels like a way off though, short of acts of god.

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deleted in reply to @Howard
this year will be interesting to see how a couple of regulations from last year affect things,
1. the Mortgage Market Review (MMR) which came into effect Apr'14
(which includes the need for lenders to stress-test mortgage repayment affordability)
1. BofE Financial Policy Committee statement on housing market powers of Direction from its policy meeting, 26 September 2014
The BoE's Financial Policy Committee said that from October, it would only allow 15 percent of new mortgages to be at multiples higher than 4.5 times a borrower's income, and that all lending would be subject to extra affordability checks.

from speaking with one high street lender, the jist of the regulatory changes / guidance from last year for them seems to be that there's now a maximum loan-to-value ratio in place of 4.5 times (where before there was none), which prevents us first-time buyers un-sensibly bidding-up house prices beyond our affordability!

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