00:00 Well, I think the way to help people is probably to extend the length of the mortgage.
00:07 I think that's the easiest thing for the building societies and banks to do, which gives, you
00:14 know, the same amount of payment but over a longer period of time.
00:18 And the banks and building societies are quite keen on that as well because they get extra
00:23 interest at the end of the day.
00:24 So that's probably the way, the easiest way.
00:28 Yeah, we've been talking about this actually just in the last pub.
00:31 So back when I was born in '66, so when I started work, one parent could work so that
00:37 the male would work, the father would work, the mother would live at home and bring the
00:40 family up.
00:41 And that was the typical way of bringing a family up.
00:44 Things change.
00:45 Nowadays, both people have to work, both parents have to contribute, otherwise they can't afford
00:49 it.
00:50 According to data from earlier this month from YouGov, one in three people who have
00:53 mortgages say they are finding it difficult to afford their monthly payments, with more
00:59 expecting to struggle within the next 12 months.
01:02 But renters are even more likely to report difficulty making their housing payments.
01:07 55% say they are finding it hard to do so, including 15% finding it very difficult, according
01:13 to the polls.
01:14 But what do some of you lot think?
01:16 Have you been struggling?
01:18 I mean, I haven't had a mortgage for some time, so it's not that relevant to me.
01:22 I just think in general, I think it's a free market.
01:26 If people can't afford the houses, the prices will drop.
01:29 That's how it should be controlled in my view.
01:31 I totally agree with what he says.
01:34 I think the price is inflated because money was readily available.
01:38 And if there's more money in the market, the prices will shoot up.
01:42 So I totally agree.
01:44 People bought the property, they knew what the circumstances were.
01:48 If they sort of held back, then obviously the prices would have dropped.
01:52 So that's the scenario that we'll have now.
01:54 The prices will drop because people haven't got the money now.
01:57 So property prices were all valued by my recipe.
02:02 It's not affected me yet because when I renewed my mortgage three years ago, I took a five
02:08 year term mortgage.
02:09 So I've still got another two years on that.
02:11 But I know that if I was to renew it, it'd be significantly higher.
02:15 I mean, I'd like to move, but I can't now.
02:18 Twenty years ago, they did move.
02:22 Very easy.
02:23 But not now.
02:24 The deposits are ridiculous now.
02:25 I mean, when I moved, I didn't even really need a deposit.
02:30 So no, I feel sorry for them.
02:33 And the thing we were talking about earlier is children now, they can't leave home because
02:37 they can't get on the step of the ladder, the property ladder, because it's very difficult.
02:44 And that causes issues, I think, in society.
02:47 There's not a lot of people in the mindset of, and I understand that, you know, it's
02:51 all, I'll buy a house and then in a few years I'll flip it and I'll earn money on it.
02:56 People seeing it as an investment, which means a lot of working class people just can't even
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