From the Summit of the Moral High Ground

Historical Archive This article is preserved as part of the historical record of this blog. It reflects the author's views at the time of publication. The content has not been substantively altered, although the HTML, accessibility and formatting have been updated to meet modern web standards. 1.1(k) The effect of category 1.1(k) is to provide a market and an underpinning of prices for high-value properties. By effectively ensuring a £1,000,000 price tag for the largest properties, the top of the housing market is established. 1.1(h) By reducing the qualification period for category 1.1(h) of the Housing Regulations, the Government can artificially stimulate additional demand for mid-range properties. Conversely, by increasing the qualification period, it can artificially reduce demand. Conveyancing By gr...

Historical Archive This article is preserved as part of the historical record of this blog. It reflects the author's views at the time of publication. The content has not been substantively altered, although the HTML, accessibility and formatting have been updated to meet modern web standards. Introduction In order to ensure a satisfactory standard of living, it is essential that an average family can afford to purchase an average family home. The Affordability Gap At the time of writing, typical lending criteria used by banks were: Maximum lending of five times the annual salary of the main earner. Plus one additional annual salary from a second income. With an average annual salary of approximately £32,448, the maximum borrowing available to an average household was around £195,000. ...