Thursday, May 28, 2009
More Mad Lending?? But Why?
MSN: Co-op mortgage sparks revival hopes
So it is all good for mortages - this is the best positive nbews they can ome up with!!
Posted by waitingfor hpc @ 09:06 AM (478 views) Add Comment
2 Comments
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1. bellwether said...
This is really pretty sensible lending. Pointing out the obvious I guess but on average only the prudent will have a 25% deposit so chances of default are limited while risk of negative equity is significantly shifted onto the prudent borrower. The rate also tracks base rate so again lender covered if changes in that.
Stillthinking if you get to reading this, you mentioned yesterday that there was pretty much zero chance of the BOE rate increasing. Could you say a bit more about that?
2. justwatching said...
'Figures from Moneyfacts show that the number of mortgages available for people borrowing 75% of their home's value has risen to 498 from 488 since the beginning of the month. There are now 7% more mortgages at an 80% loan to value (LTV) ratio than at the beginning of the month and 6% more at an 85% LTV.'
Ch*nts.
Why express the number offering a 75%LTV as a numerical increase, but with the 80% & 85% as a percentage?