Wednesday, May 16, 2007
Mad hatters creating their own tea party...
Firstrung: First time buyers buy to let mortgages....?
"Thin end of the wedge", "scraping the barrel" could be reasonable descriptions used in relation to this 'scheme'. This press release is worth a read in order to establish just how desperate some factions of the house building and mortgage lending industry have become...
Posted by converted lurker @ 03:47 PM (179 views) Add Comment
2 Comments
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1. sirgoogle said...
I really hope no FTB falls for this one. This is simply the builders trying to get someone elseto hold the baby (or hot potato) when the HPC comes.
2. enuii said...
Trouble is most new-build FTB properties are 1 bedroom flats which are notoriously difficult to sell on the 'used' market especially when they have been sold at an inflated price at the probable top of the market. This also smacks of history repeating itself in the form of the 'builders pool arrangements' which were made in conjunction with the building societies in the 1930's to sell new houses above the 'going rate' onto working class people.