Wednesday, Dec 17, 2008
Here we go again, or do we????
findaproperty.com: The Return Of The 95 Per Cent Mortgage
Louise Cuming, head of mortgages at moneysupermarket.com, said:"However, the dangers of high loan to value mortgages remain. With projections of further falls in house prices, a 95 per cent mortgage could easily land borrowers in negative equity. As such those looking for high LTV mortgages must go into these deals with their eyes open and be comfortable with the idea of potentially living in negative equity."
.....some sense at least, but what are the income multiples and will these be available to the BTL brigade. Although it says this LTV is only available to existing customers, for how long????
Posted by bystander @ 10:55 PM (463 views) Add Comment
3 Comments
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1. jackas said...
There will be plenty of attempts to go back to "normal". Who knows, the Fed and BoE may even succeed in another reflation of the bubble...
2. rm96696 said...
Lets hope that they also introduce 95 percent ltv for buy to let mortgages. The sooner the lenders go bust the better.
3. str 2007 said...
We established yesterday that this offer was to existing customers not FTB's.
It makes you wonder though with prices falling at 2% per month by Nationwides own measure if they take the 95% LTV calculation at time of application or exchange of contracts.
There could be a last minute margin call from Nationwide with this deal.