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Democorruptcy

105% Mortgage At Yorkshire Bs, No Deposit Required

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Just had a quick play with their mortgage calculator.

Entered £20k main income and £10k 2nd income.

£100k house requiring a £100k loan.

Clicked calculate and it says you can borrow £105k.

Labour must be proud of them.

Edit: Title changed

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Just had a quick play with their mortgage calculator.

Entered £20k main income and £10k 2nd income.

£100k house requiring a £100k loan.

Clicked calculate and it says you can borrow £105k.

Labour must be proud of them.

The answer is obviously wrong.

I suspect it wasn't tested properly.

It should be 400,000 surely?

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consider that YBS is located more or less halfway between the HBOS Halifax campus, and Bradford and Bingley, and you may get an idea of their business acumen and technical skills...

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It's ignoring the info in the Purchase price/Valuation box - put in the box that you want to buy a house worth £1, and looking to borrow £1, it still offers £105,000.

They are an ultra-conservative lender, just with a shit website.

Edited by Neil D Possitt

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They are an ultra-conservative lender.

Is 3.5 times joint income classed as ultra conservative now then?

The last time I got a mortgage it was 3 times main salary plus 1 times second salary so on the salaries I input that would have been £70k instead of £105k now - a mere 50% increase.

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Is 3.5 times joint income classed as ultra conservative now then?

The last time I got a mortgage it was 3 times main salary plus 1 times second salary so on the salaries I input that would have been £70k instead of £105k now - a mere 50% increase.

you dont have to lie these days.

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Is 3.5 times joint income classed as ultra conservative now then?

The last time I got a mortgage it was 3 times main salary plus 1 times second salary so on the salaries I input that would have been £70k instead of £105k now - a mere 50% increase.

And in those days you did not have to get your wife sterilised to get those multiples.

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... and the highest they would go, even during the height of the boom, was about x3.75, when many other lenders were offering very silly multiples.

CML disagrees, currently, IIRC multiples to FTBS are below 3.

course, no-one knows how they calculate that.

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Guest happy?
... and the highest they would go, even during the height of the boom, was about x3.75, when many other lenders were offering very silly multiples.

And even that was against their instincts - for many years they were known for either 3x1 plus 1x other income, or twice joint income as their max.

It is a cheesy website - maybe they're intentionally filtering-out those people attracted by baubles.

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And even that was against their instincts - for many years they were known for either 3x1 plus 1x other income, or twice joint income as their max.

It is a cheesy website - maybe they're intentionally filtering-out those people attracted by baubles.

It's just telling the applicant the maximum borrowing potential not the maximum loan based on the property purchase price, it's misleading!

Topliner

Edited by topliner

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