http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/ Insights from the UK and beyond Tue, 10 Nov 2009 00:31:50 +0000 http://wordpress.org/?v=2.6.2 http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/#comment-5736 sam Fri, 19 Sep 2008 13:35:35 +0000 http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/#comment-5736 ...but i thought that is exactly why HIPS were introduced.....am I missing something?...arent they working then? …but i thought that is exactly why HIPS were introduced…..am I missing something?…arent they working then?

]]> http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/#comment-5732 Jason Fri, 19 Sep 2008 12:08:12 +0000 http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/#comment-5732 The house-buying process in England and Wales is just another example of the sloppy laws which allow parasites such as estate agents and solicitors to thrive on confusion and delay. The government could stop it at a stroke by introducing a version of the Scottish system overnight, but it won't. Clean and simple systems are anathema to politicians. Fog, fudge and sharp practice are their stock in trade. The house-buying process in England and Wales is just another example of the sloppy laws which allow parasites such as estate agents and solicitors to thrive on confusion and delay. The government could stop it at a stroke by introducing a version of the Scottish system overnight, but it won’t. Clean and simple systems are anathema to politicians. Fog, fudge and sharp practice are their stock in trade.

]]> http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/#comment-5730 Matthew Fri, 19 Sep 2008 09:52:02 +0000 http://blogs.reuters.com/uknews/2008/09/19/the-ethics-of-gazundering/#comment-5730 Everyone knows that you're at risk until you've signed the contract - the buyer isn't bound and that's all there is to it, you have to accept that. Anyway I think all this turmoil will be good for us in the long run. People shouldn't buy properties to fund current (over)spending, and they shouldn't buy properties they can't afford in the hope that they will be "covered" by a subsequent increase in value. There's a strong case for a compulsory warning when buying property: "Remember, the value of your property can go down as well as up. You may not get back the whole amount of your initial investment. House buying may not be suitable for everyone. Make sure you understand the risks involved" etc. etc. Everyone knows that you’re at risk until you’ve signed the contract - the buyer isn’t bound and that’s all there is to it, you have to accept that. Anyway I think all this turmoil will be good for us in the long run. People shouldn’t buy properties to fund current (over)spending, and they shouldn’t buy properties they can’t afford in the hope that they will be “covered” by a subsequent increase in value. There’s a strong case for a compulsory warning when buying property: “Remember, the value of your property can go down as well as up. You may not get back the whole amount of your initial investment. House buying may not be suitable for everyone. Make sure you understand the risks involved” etc. etc.

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