Bobbins Posted January 22, 2009 Share Posted January 22, 2009 http://www.telegraph.co.uk/finance/persona...te-of-2.65.html Ok it's got pretty tough t+c's. I could take a £1 million mortgage now (if they'd let me ), and be paying about the same as my fixed rate £250k repayment one costs me today! I think I'm going to get me one of those fancy Knightsbridge houses. Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted January 22, 2009 Share Posted January 22, 2009 Wait 6 months and you could have 2 fancy Knightsbridge houses for that money! Quote Link to comment Share on other sites More sharing options...
youthoftoday Posted January 22, 2009 Share Posted January 22, 2009 (edited) http://www.telegraph.co.uk/finance/persona...te-of-2.65.htmlOk it's got pretty tough t+c's. I could take a £1 million mortgage now (if they'd let me ), and be paying about the same as my fixed rate £250k repayment one costs me today! I think I'm going to get me one of those fancy Knightsbridge houses. Not interested myself as the rate is far too high. I'm on lifetime tracker at 2.2% at the moment. Even better, my brother has a 1.69% lifetime tracker! Edited January 22, 2009 by youthoftoday Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted January 22, 2009 Share Posted January 22, 2009 if they offer a 10 year fix at that rate i'll buy Quote Link to comment Share on other sites More sharing options...
General Melchett Posted January 22, 2009 Share Posted January 22, 2009 http://www.telegraph.co.uk/finance/persona...te-of-2.65.htmlOk it's got pretty tough t+c's. I could take a £1 million mortgage now (if they'd let me ), and be paying about the same as my fixed rate £250k repayment one costs me today! I think I'm going to get me one of those fancy Knightsbridge houses. So, I could just go out, get one of these mortgages, and 'buy' a house for a million? I could certainly afford to pay that a month right now.... I've just got this funny feeling that it might not be a good idea to do so, cant think why. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 22, 2009 Share Posted January 22, 2009 The new mortgage is being offered by a private bank and is only available to what are considered fairly elite customers - those who are looking to borrow a minimum of £500,000 and have a minimum deposit of 40 per cent of the value of their property. For those looking to borrow the minimum amount, this would equate to at least £200,000. so you buy your 1.6million house, add your £10K arrangement fee and watch your money disappear. Oh, and you need to be a customer of the bank and have an income of £300K. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted January 22, 2009 Share Posted January 22, 2009 So, I could just go out, get one of these mortgages, and 'buy' a house for a million?I could certainly afford to pay that a month right now.... I've just got this funny feeling that it might not be a good idea to do so, cant think why. Go for it. House prices always double every 7 years - a maths teacher told me. Quote Link to comment Share on other sites More sharing options...
tinecu Posted January 22, 2009 Share Posted January 22, 2009 http://www.telegraph.co.uk/finance/persona...te-of-2.65.htmlOk it's got pretty tough t+c's. I could take a £1 million mortgage now (if they'd let me ), and be paying about the same as my fixed rate £250k repayment one costs me today! I think I'm going to get me one of those fancy Knightsbridge houses. I imagine the 40% deposit may present a stumbling block for many Quote Link to comment Share on other sites More sharing options...
MSWHPC Posted January 22, 2009 Share Posted January 22, 2009 £200,000 deposit required! Quote Link to comment Share on other sites More sharing options...
R K Posted January 22, 2009 Share Posted January 22, 2009 Mandelson can trade up! Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 22, 2009 Share Posted January 22, 2009 Andrew Montlake, of mortgage brokers Cobalt Capital, which is exclusively offering the seven-year tracker deal, said: "Although this latest deal is a bespoke product for high net worth individuals, it is a perfect example of what some lenders with a bit of imagination can achieve - even in this market. yes, they are fracking geniuses you tosser!!!! Quote Link to comment Share on other sites More sharing options...
leob84 Posted January 22, 2009 Share Posted January 22, 2009 might getting it even cheaper if I'll wait still some time? it's always hardest to know what is best time. Quote Link to comment Share on other sites More sharing options...
shindigger Posted January 22, 2009 Share Posted January 22, 2009 Tracker + £500,000 loan = Rope draped loosely round neck. No thanks guys. Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted January 22, 2009 Share Posted January 22, 2009 " those who are looking to borrow a minimum of £500,000 and have a minimum deposit of 40 per cent of the value of their property. For those looking to borrow the minimum amount, this would equate to at least £200,000." She cannot even do the basic maths for herself - Personal Finance Correspondent . If you are borrowing 500K and the minimum deposit is 40%, then 500k loan is 60% and your deposit is 500k/60*40=333K You need a minimum 333k as deposit, not 200k Quote Link to comment Share on other sites More sharing options...
threetimesdead Posted January 22, 2009 Share Posted January 22, 2009 " those who are looking to borrow a minimum of £500,000 and have a minimum deposit of 40 per cent of the value of their property. For those looking to borrow the minimum amount, this would equate to at least £200,000."She cannot even do the basic maths for herself - Personal Finance Correspondent . If you are borrowing 500K and the minimum deposit is 40%, then 500k loan is 60% and your deposit is 500k/60*40=333K You need a minimum 333k as deposit, not 200k And the cheapest property they would len for would be valued at just under £840k, which is the upper end of the market most likely to dive. But with a 40%equity they will nicely repocess you and still make a profit. B***tards Quote Link to comment Share on other sites More sharing options...
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