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madasafrog

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Everything posted by madasafrog

  1. And a lot earlier than that. And here we are 20%+ later.
  2. BTL LL have gone bump because their properties were not worth the money that they were valued at. Look at the new development flats that were bought off plan
  3. Me too. Starts with once upon a time...... Should be on Jackanory
  4. I have been in business long enough to see it happen I have also seen a lot of BTL LL go to the wall but i have never seen this clause invoked. Have you?
  5. I was not "talking down to you" so please dont think that. My point is that I will believe it everything i am told and with this clause in particular, I will believe it when i see it implemented. I am sure there are BTL that have had duff deals that have had their LTV fall way below the levels they should be but where are cases of this clause being invoked? I have seen too much dross posted on here as being fact. I have seen too many people believing everything they are told. Bears moan about the british public as sheep yet they follow each bit of bears news as if it were bought down from the mountain by moses himself
  6. Andy Andy Andy. Dont be taken in by these loons. They are dragging up any bit of information they can find and then putting it out as 100% certain to happen fact. Its sub prime information wrapped up and sold on as AAA rated, just waiting for the next sucker to buy it.
  7. Good post optobear I am not arguing the existence of the clause. I am arguing the implementation of it. Too many bears are grasping at it as usual that its a dead certainty and will happen. We have had a crash before and it never happened then. But then again, i suppose "its different this time".
  8. Every bear in this forum bases their arguments on past history. Show me some past evidence of it happening As i have mentioned, the only time this may occur is if the borrower is defaulting. Do you honestly believe that every BTL LL will be requested to have their properties revalued? What about the home owner mortgages? Are they exempt from falling below their LTV????? You bears are like a load of fanatical UFO watchers. You see a set of plane lights in the distance and then start shouting that the aliens are landing. Keep hunting... the truth is out there skully:blink: Edited for clarity
  9. If he goes under a bus, the life policy would cover the debt (i am presuming he is dead. Sorry Uriah Heap. RIP)
  10. Why would I? Not for me to prove it. I am not the one who stated that these clauses exist or take place. I am the one refuting the clause takes place.
  11. Surprised no one got the text in the earlier images
  12. Do you honestly believe everything you hear/read? I tend to make my own mind up. You have yet to learn (the hard way no doubt). The painful part may be your education
  13. What about the fact that they have normally wrapped this up this debt and sold it off to our pension funds with a AAA rating? The only point that LTV will become an issue is at a time of remortgaging or if the borrower is running into trouble. This bear food is tasteless
  14. If the BTL LL looks like they are in trouble by missing payment, i can expect a bank to want to look at the assets of the business and assess that its security is in place. If the LL is servicing his debts, i cannot see why they will interfere. There needs to be more evidence of lenders being tighter in the market place on BTL as so far they are pretty lose. You only have to look at the money lent on new developments that are overvalued. Until we see certain signs of tightening on that part of the market, then we have to take this story with a pinch of salt. Do you like salt on your bear food?
  15. Without any prior evidence of this, then this article is groundless. The only time I can see the LTV being an issue in a falling market is when they come to remortgage at the end of a fixed rate period. If prices fall they may not be able to attain the LTV of 85% required and will therefore be hit by the increased costs of servicing the mortgage on the higher Standard Variable rate. Merryn Somerset Webb, who wrote this article was obviously put off by this spiv so is clutching at straws to shoot him down. If anyone has some credible example of what she is claiming on a BTL, then please come forward. If it is true, then it could have dire consequences the BTL industry in a falling housing market. If, as I suspect, it is totally groundless, then its just another piece of bear food thats full of additives.
  16. What is your gut feeling telling you? No one knows you or the house you are buying. They do not know the market local to you and they will not understand what your needs are. No one here can tell you exactly what is going to happen in the next few years. What ever you decide is a gamble. Prices may go up, prices may go down. You have mentioned that your nervous but how does your wife feel?
  17. It has been posted so many times Ocean Finance Old but gold
  18. I live not too far and considering that nearby you have: Walsall West Brom Wednesbury Dudley Wolverhampton as i mentioned on a previous post, I guess the researchers didn't make it out alive
  19. I have just applied for a HIPS. Cost a total of £325 inc vat. The solicitor said that they will fax a letter to the EA that will allow them to start marketing the property. Total turnaround time for the HIPs is 2 weeks. If your serious about moving house, its not going to stop you. If you decide to pull the house off the market for a while, then the HIP's is still valid for 12 months. I believe that the HIP's situation may have a short term effect on the market but lets be honest, its hardly going to tip it on its head in the long term.
  20. Having two kids myself, its the kids that are the reason you dont have the spare cash.
  21. There is never a mod about when you need one
  22. It might seem a bit pedantic but reduce the text included in the quote if it is lengthy. As shown above. Saves excessive scrolling/pages etc
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