Tradefair & Financials
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Massive news for the property market, as Mortgage Works has increased its maximum loan to value to 80% from 70%
This will keep things chugging along for a while!
This will keep things chugging along for a while!
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Replies: 22
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stuck record ^^^^
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in your dreams
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Can you buy a property for me to let please.
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chisel - please stop trying to flog a dead horse
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chisel - please stop trying to flog a dead horse
-------------- to be fair, they have got a point. if u were to take the aforementioned, battered and mistreated hoss, place it gently and carefully into a horsebox, drive it to mr curleys yard for training, give him at least a yr, then put AP on top, it still woudlnt have a facking prayer!!!!! |
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LOL
You guys are taking one hell of a beating at the moment!! Why can you just not accept that as I predicted, mortgage lenders would eventually be able to lend more money at higher loan to values. This is just the start.. This property crash was not caused by homes being too expensive, it was caused by a lack of finance! |
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chisel u muppet. all this 'freely available finance' is doing is deluding us into thinking we're rich. if u tell a tramp he can borrow £1m at 0.01% interest he's gonna do it. doesnt mean he's ever going to be able to pay it back. the amount of people on interest only mortgages is frightening - they will never pay the money back. this is why the banks crashed - they were lending out money to muppets who could never pay it back. this is what 'finance' has led to
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Sir Dennis
The amount that SOME people pay out inb rent over a lifetime is also astonishing. Remember, debt over 25 -30 years gets eroded by inflation. Paying rent does not! Just because there was a financial crisis does not make the idea of borrowing money to buy a home wrong!! 100% mortgages are not going to return, but there needs to be a balance , and people need credit to be available in teh future. THERE IS NOTHING WRONG WIOTH BORROWING MONEY , as long as you can pay it back. There is a big difference between teh type of person who cant pay , and teh type of person that cant pay. An example of this is teh paracites who refuse to pay back unsecured debt, or claim that Credit agreements are unenforceable. |
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chisel,
are they any different to the parasites misselling payment protection |
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THERE IS NOTHING WRONG WIOTH BORROWING MONEY , as long as you can pay it back.
people cant. thats the problem |
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Can't believe anyone on the BF forum needs to borrow money [:o]
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if the banks lend money to people for a home and they cant pay it back....how do banks lose so much .....they reposess the home...problem solved....next.
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getting better...........plenty in south wales 80-90-k rent for 375-400 a month.
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680;000 new builds unsold in spain...just come out of recession.....must be a bargain or 2 there..
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Look
This is a laughable line of argument! Everyone that needs a home either pays rent or gets a mortgage. There is nothing wrong with borrowing money, and for the record people CAN afford the mortgages. Repossessions and arrears are relativel low given what was expected! |
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Repossessions and arrears are relativel low given what was expected!
thats coz interest rates are v low (in effect prudent savers are bailing out the borrowers) and loads of people are on interest-only mortgages. the vast majority of these mortgages will never be paid off |
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beats renting.....
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This property crash was not caused by homes being too expensive, it was caused by a lack of finance!
And the reason they were expensive in the first place was due to easy access to finance! The lenders went from one extreme (lending money to 'anyone') to the other (being ridiculously cautious). I would highlight two factors influencing house prices. One is yield for investors and the other is affordability for those buying their own home. People are willing to pay whatever they can afford for their home (if high prices force them to do so). If they can borrow more they can afford more, putting upward pressure on prices. |
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There is a big difference between teh type of person who cant pay , and teh type of person that cant pay.
please explain! |
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Everyone that needs a home either pays rent or gets a mortgage.
false. when i buy a house i won't be needing a mortgage. |
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Charlatan
Good for you , but you are clearly the exception rtather than the rule! The type of person that does not pay is teh sort of person that decides they woyld rather spend the £600 a month they pay for unsecured loans etc on themselves rather than paying the lenders back. There are millions of people that have refused to pay back theses debts , that will keep their homes and continue to pay the mortgage. These are people that WONT PAY. You then get people that hand back keys because they have no equity, in the knowkledge that it may enable them to keep their money rtather than spend it on a poor investment! Those that cant pay are those that lose their jobs, partners die etc that can not pay the loans because they have no income /money. These people CANT PAY, but lenders generally are quite helpful. In many cases lenders are freezing interest , they are selling clients homes for them and coming up with unsecured repayment schemes following sale of the property. Undoubtedly this is distorting the repossession figures downwards.. Re low interest rates.. I guess everyone is just going to have to get used to them. They are here to stay for the short - medium term, and maybe for the next 10 years!! |
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chisel 12 May 10 11:29
LOL You guys are taking one hell of a beating at the moment!! Why can you just not accept that as I predicted, mortgage lenders would eventually be able to lend more money at higher loan to values. This is just the start.. |