Reducing Minimum deposits on Houses

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Realitysreflexx
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#1
Report Thread starter 3 weeks ago
#1
Leading to property price inflation.... As everyone who has a job now floods into the market.

https://www.dailystar.co.uk/real-lif...84#source=push

In short, graduating in 2016-2019 and getting a job was a goldengoose.

2020-2025 graduates will likely be screwed, when the overexobernance of inflation drives prices way up.
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ByEeek
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#2
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#2
90% mortgage isn't that exciting. We bought our first house with a 95% mortgage and at that time (2008) 120% morgages were on offer to almost anyone who could sign their name.

It is funny how first time buyers who are struggling are single 20 something grads when most first time buyers for some years now have been 30 something couples. Bide you time and enjoy your youth!
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L i b
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#3
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Yeah, you can still get a 95% mortgage, so this isn't really news outside of one lender...
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History98
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#4
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In my opinion the government should focus on trying to increase the housing supply instead of trying to interfere in the financial market. In part, I think the government has had some moderate success with this as the number of new dwelling per year has increased slightly over the past few years and is at around 170K new dwellings a year (with around 80% being houses and 20% being flats). The current UK population is increasing at a rate of just under 400K so if these new dwellings can accommodate over 2.3 people each then the supply-demand aspect of the housing issue will get better.
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paul514
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#5
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They don’t need to reduce deposits, it should be 90% minimum.

They simply need to build enough public and private housing in the right areas
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barnetlad
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#6
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Build more homes is the main thing. A small contributor to making it easier to buy homes would be for stamp duty to be paid by the seller, or a form of profit tax on houses instead. Money that would be spent on stamp duty can go towards a deposit.
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