Friday, Oct 24, 2008
Bad to worse for Buy-To-Losers
Mortgage Strategy: Woolwich drops B2L LTVs
Woolwich has dropped LTVs on its buy-to-let portfolio tracker to 50% from tomorrow.
Posted by whostolemyendowment @ 07:27 PM (1084 views) Add Comment
29 Comments
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1. planning4acrash said...
Which BTL'rs refinancing will have 50% LTV post crash?! Auction sales will be DECIMATED to cash only soon. Houses will Literally sell for a years wage in some places soon. But this could have the wonderful affect of rendering the welfare state irrelevant!
2. planning4acrash said...
If govt loose control and LIBOR soars to 100's of % or infinity overnight (this thing is a loaded spring) then ALL tracker mortgages and refinancing becomes untenable. The monetary system destroyed. This WILL happen directly or Via a run on govt bonds.
3. planning4acrash said...
The natural LIBOR rate today is infinite because, without central bank funding ALL banks are bankrupt, so, with no supply, the price for money should be infinite without corporate welfare. This is inevitable in all fiat currencies,ie ponzi pyramid schemes
4. str 2007 said...
This is fantastic news and potentially massive.
It could be that Woolwich are just stepping back from their position, but if this moves on to other lenders then we will be well under way.
It has been my fear that lower interest rates could see a re-ignition of this sector when the sums add up.
This just such good news, even if it's only one lender.
Buy the way P4AC the majority of portfolios are 66% LTV I believe, but alot will be 75%LTV. So the majority are screwed - excellent (with this lender anyway).
5. planning4acrash said...
A New World Order had to emerge, gold the natural heir. The elite knew this from the beginning, its the 5000yr old Babylonian usery system, so they planned its replacement prior to its start in 1913. Wars to push forward plans hit by resistance.
6. This comment has been removed as it was found to be in breach of our Blog Policies.
7. planning4acrash said...
Liberty is the natural order. All govt control; theft/tax, fiat,usery/counterfeit, war/murder, tv,state sponsored terror,education/propaganda, take us from liberty and God's kingdom/Liberty.
8. str 2007 said...
http://www.mortgagesforbusiness.co.uk/content/BuyToLet/BestBuyTable.aspx?gclid=CNeC3JfKwJYCFRyB1Qodmiu2zA
Glad I'm not having to re-new a BTL mortgage at the moment.
Check out the rates available, highest LTV is 75% but big penalties like 7%+ interest rates, or 65% LTV 2%+ arrangement fees and 6% interest rates.
I bet not many portfolios have these rates factored in.
9. inflation is eating my savings said...
The people of God's kingdom do not want freedom- have you not read "The Grand Inquisitor"?.
If not, you should- it may give you a different take on the so-called NWO......
10. planning4acrash said...
Lucider is the prince of light. The one who takes over from God on the 7th day after God rests, having created light. All of this is nonsense coding, but serfs of the elite like presidents lap it up.It simply is an evil layer of control upon free humanity
11. planning4acrash said...
Of course they want freedom. They think they have it. They have Stockholm Syndrome, have developed empathy for their captor. Its an abusive relationship that sheople have a responsibility to break, but should not be blamed for.
12. inflation is eating my savings said...
Humanity cannot cope with freedom
13. japanese uncle said...
Lu-cider is the drink of hell
14. planning4acrash said...
Oops, Lucider, not ludifer! Oh. My time to describe the second coming. Anybody posing as saviour is an anti-christ, because they propose layers upon your liberty. The coming again of Jesus can only be the discovery of liberty, morals & soul from within.
15. inflation is eating my savings said...
Christ offered us freedom. We crucified him
16. planning4acrash said...
nobody is coming to save us.Others are only out to get us. There is no natural move to Liberty, no Mayan calendar,its a personal struggle,that becomes manifest in society with a critical mass of awakening. Where we break the lies, learn to think/perceive.
17. S2r2005 said...
is there a forum like hpc somewhere that hasn't been overrun by nutters or is this just the way of the post-bubble world now?
18. titaniccaptain said...
Great news........I dont normaly have a go at estate agents its against my faith to judge..............but................i am cr@p............so here I go............Today I spoke to an estate agent and put an offer on a house for subsatialy less than the asking price.he told me I should get a mortgage for the difference because house prices are about to go back up............I asume he is having sex with his sister for giving me such a great insight into the housing market and he was probably raised by ants..........he then went on to tell me that the houses that he markets are valued and priced correctly............one glance at his for sale list proved otherwise furthering proof that his inbred genes were probably the result of generation upon generation of incest to the point that I nearly jabbed him in his one eye in the middle of his forehead...........I left him to his illusion and window gazing sad in the knowlage that he would be advising vendors to take offers no more than 10% off value
19. titaniccaptain said...
Actually I have just read my above comment and have found it a bit harsh.....I would like to apologise to anyone who is the byproduct of incest or practicing it......I should not of compared you to an estate agent......sorry
20. str 2007 said...
What are you doing trying to buy houses TC ?
They haven't even started dropping mortgage rates yet.
And I thought I was weakening.
21. Planning4acrash said...
Government crucified Jesus, the public let them do it.
Sorry for the rant earlier. I'm having a tough time dealing with all this info today. Shocking to see the co-ordinated crash.
22. titaniccaptain said...
@str2007
I was bored lol
23. amjidk said...
i made an offer last week @ 40% below listed price, they didn't accept but i bet they will in a few months...
24. titaniccaptain said...
@amjidk
house prices have been artificially inflated.........all you have done is offer what the house is really worth....you may be offering more than its really worth........anyway I have been thinking (its a new thing)...........years ago people used to get mortgages and pay them off inbetween 5 and 10 years.......now we are expected to pay them off in 30 years if at all.............that is immoral......
25. mark wadsworth said...
Having sorted out the thorny topics of whether we crucified the right chap and the burning issue of whether Lucifer drinks Lucider or Lucozade ... I'm with amjidk.
I'm going to waltz in to the EA tomorrow and offer 40% off asking on a rather nice house near us. With the caveat that we can't complete before next June.
26. tyrellcorporation said...
Nice idea but nobody is going to accept 40% off as vendors are still in denial and still expect things to 'bounce back' next year (I have many friends who still think I should wade in now and 'snap up a bargain'). The ridiculously-low-offer tactic may be more successful in 12 months time IMHO.
27. Fence said...
titaniccaptain, you're a brave person to actually go in one of those places. The wife and I (we do look the couple) just look at the agent's window displays, get them all excited, then mouth "how much", shake our heads, and walk off.
28. amjidk said...
no harm in trying.. i'll probably repeat the offer every few months, the market dictates the price and at the moment it's a buyers market so if they dont like it they can just say no..
i agree with tyrellcorporation people are still in denial, a bit like when someone offered me £200 for my pentium 4 PC, last year, i was in denial for a good 2 days, but then reality dawned and i realised that i had lost a grand in 18 months...
29. gone-to-colombia said...
Interesting comments here. I am looking around to see if I can find a cheap place. The crash is just starting here. Only in the last few weeks have people begun to understand the world economic situation.
Yet, on any site with half an acre tall blocks of flats rise, I wonder how many will be completed.