Tuesday, Feb 27, 2007
FTBs Go For Broke With 100 Per Cent Mortgages
FindaProperty.com: FTBs Go For Broke With 100 Per Cent Mortgages
Mortgage Advice Bureau (MAB) revealed a 21 per cent rise in first-time buyers opting for 100 per cent mortgages in 2006 compared to 2005.
They recorded an even greater increase in those borrowing in excess of the value of their property. This rose by 50 per cent over the course of the year with 11 per cent of all MAB cases now applying for mortgages in excess of 100 per cent.
The Department for Communities and Local Government reported that in December the average house price for first-time buyers was £155,120, considerably more than the £125,000 stamp duty thresho
Posted by cash_buyer @ 10:00 PM (100 views) Add Comment
2 Comments
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1. sirgoogle said...
This was happening in 1988 too. Madness.
2. dohousescrashinthewoods said...
.. so the indicators are we're getting closer to HPC, step by step.
Same conditions, same responses, same resulting choices, same consequence?