Dave Beans

Io Mortgates "a Ticking Timebomb" For Those In Their 50S

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Last night, the Council of Mortgage Lenders said: ‘Lenders are attuned to this issue and will treat borrowers sympathetically.’

So the unspoken message is that the CML aren't coming out to bat for IO any more. To the Daily Mail readers, in dog whistle, "We are going to throw you under the train and call it a crash. Enjoy."

To the borrower who misses the dog whistle, in a High Street bank near you, sooner rather than later...

"I'm terribly sorry we won't be giving you a loan, have a nice day"

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Yes I know, I was renting from someone I knew in Romford. He had plenty of equity as the house was part inherited. So a mortgage of £270k or thereabouts and only paying about £200 a month on a BTL I/O with the Chelsea. I've no idea how he managed that. I think he's now moved into his "BTL" and has let some of the rooms. He's only got to let one and $profit! These people are living the life of Riley!

Chelsea are YBS, somehow YBS managed to acquire the bountiful books of BBS in 08, my savings were withdrew within the week, scummy coontz! I Woll not finance my own slavery!

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