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House Price Crash Forum


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About JohnLondon

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  1. I guess the other way to look at it is if companies see that it’s so easy & productive to have staff working from home, that job can therefore be done remotely from anywhere in the world. It won’t be long before they look to cut their costs & pay somebody half the salary for doing the job from other countries.
  2. Prior to MMR, regulation by the FSA at the time was in name only. There were no rules in place & lenders could (and did) whatever they wanted. It is only since MMR that there are now LTI caps in place, stress testing & stricter affordability calculations
  3. I was referred to what contributed to the credit crunch, not the lending that is going on today
  4. Rules have changed, mortgage offers are now binding which means they cannot just change their minds
  5. 15% of a lenders overall lending can be in excess of 4.5X LTI. There is no upper limit as long as the application passes it’s affordability checks
  6. I’ve seen the mortgage offer & I know what he earns. I didn’t believe it at first either when my friend told me but I’ve seen the paperwork. From my experience, what a bank/ lender states on its website & what goes on in reality can be very different
  7. The deposit is from his savings & yes, he is buying on his own
  8. My friends son has just managed to get a mortgage with Metro Bank. He’s 22yrs old, FTB on an annual income of £28,000 & has had a mortgage offer for £240,000. The purchase price of the property s £270,000
  9. Bang goes any chance of a rate rise over the next few months
  10. It’s an absolute scandal. If you paid me I wouldn’t want to live in Stoke Newington let alone pay £1.25m for the privilege
  11. I really don’t know what Trump is hoping to achieve with these tariffs on China. All it’s done is caused China to do the same on US imports which will hit US companies that export to China & spook the markets.
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