Wednesday, Mar 03, 2010
Lessons that simply aren't being learned....
Times Online: Cheaper deals for borrowers with small deposits
''Mortgage lenders have dramatically reduced the cost of some of the most popular home loans and those aimed at borrowers with smaller deposits, as competition to attract new customers intensifies. ''
Posted by hpwatcher @ 09:50 PM (1034 views) Add Comment
7 Comments
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1. hpwatcher said...
A big thank you to BOE for using the tax I pay to keep house prices so high, that I can't afford one.
2. Pete Kiddle said...
The winners (prudent savers who live within their means) have an obligation to bail out the losers (those who have paid silly money for houses they can't afford).
We must all bow before the altar of property obsession.
3. little professor said...
The loans have a new lower rate pegged at 2.75 points above the Bank of England base rate
That won't seem so low when base rates return to 6%, which will be sooner than a lot of these dolts think.
As the commenter on the times website says, the santander deal at 3.25% is over six times the bank of england base rate. Not so sweet when you look at it that way.
4. fallingbuzzard said...
This is what I call eating up the juicy, last scraps which are full of risk and too hot for HSBC and Barclays.
5. mark wadsworth said...
I second what HPW, LP and FB say.
These aren't 'cheap deals' these are 'expensive houses'.
6. Topher Bear said...
There deals still require large deposits. Imho, what is keeping out most ftb is not the rates but the deposit requirements.
7. smugdog said...
The "fear" has come full circle as I predicted several months ago. The new "fear", by the banks,
is that they may once more be missing out on new customers.
The greed cycle returns.