Friday, Feb 29, 2008
BTL gone! House prices gone! It is the curse of the "fiinnannciall llleevveragge"
Times: Buyers who do not have 10% deposits are left out in the cold
You remember those BTL i@iots repeating the mantra "the power of the fiinnannciall llleevveragge" AAHHHAHAH now it is the curse!! Divide a large number by a small number, what you get is a mess! Prices will fall like leaves in autumn!
Posted by confused76 @ 06:40 PM (480 views) Add Comment
4 Comments
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1. happyrenterz said...
So Lloyds TSB must be expecting a 10% fall in prices.
2. happyrenterz said...
"It said that about £1.7 billion of mortgages on its books was to borrowers with deposits of 5 per cent or less." So house prices only have to fall 5% for those mortgages to go into of negative equity.
3. alan said...
@Happyrenterz,
If the (Lloyds/TSB) borrowers purchased in (say) Feb 2007, then they will already be sitting on a paper increase of 2.7% (Nationwide).
Bradford & Bingley have moved their 110% mortgage banner off the homepage. 100% mortgages are still quoted. I noticed their shares spiked on Friday - it seems there are bid rumours....
4. harold said...
"it seems there are bid rumours...."
That'll be the same 'company' that took over Northern Rock?