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ScaredEitherWay

New Chinese Mortgages Unveiled

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On Working Lunch today they said that a lot of foreign investment has deserted the marketplace, but there's a new mortgage that (IF you qualify) will be of interest to people.

Chinese banks have started offering mortgages.

Bank of China are offering mortgages to safe bets.

Lifetime tracker, baserate + 2.5%, minimum 25% deposit. 1% arrangement fee

Charcoal said this is one of the best in the marketplace.

Xixu Sun of the bank said they have a lot of liquidity and think there's a need.

Should be available through IFAs, but then you have to go through one of their 5 banks in the UK. Only 2 branches in London, one in Birmingham, one in Manchester, one in Glasgow.

Edited by ScaredEitherWay

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3x income plus they want a face to face interview.

Its still good money if they siphon off the extremely low risk mortgages/remortgages.

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What's that?

Life time tracker mortgage?

Base rate +2.5% when base rates can only go up?

Paying enormous sums of interest to a bank owned by a one party state notorious for its human rights abuses?

That's the sort of people I want to give my money to!

Hmmm.....I'll have 5 please!

:lol:

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Lifetime tracker, baserate + 2.5%, minimum 25% deposit. 1% arrangement fee

I've just crapped my pants in sheer terror, and I don't even have said product!

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On Working Lunch today they said that a lot of foreign investment has deserted the marketplace, but there's a new mortgage that (IF you qualify) will be of interest to people.

Chinese banks have started offering mortgages.

Bank of China are offering mortgages to safe bets.

Lifetime tracker, baserate + 2.5%, minimum 25% deposit. 1% arrangement fee

Charcoal said this is one of the best in the marketplace.

Xixu Sun of the bank said they have a lot of liquidity and think there's a need.

Should be available through IFAs, but then you have to go through one of their 5 banks in the UK. Only 2 branches in London, one in Birmingham, one in Manchester, one in Glasgow.

Do they come with prawn crackers?

Edited by Minos

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3x income plus they want a face to face interview.

Its still good money if they siphon off the mortgages that were considered normal until about 10 years.

Edited to add "Fixed that for you".

Edited by Moo

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Do they come with prawn crackers?

No but there is a fortune cookie

It says:

When the Year of Dragon ends, you will lose your house.

But still owe crazy communist government huge money

You stupid foreign devil

HAHAHAHAHAHAHAHAHAHAHA!

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Look don't burst people's bubbles. We're used to low, low, low interest rates for the last decade. This isn't the 90s you know. Fixed deals are a dead relic for the worried well.

Deflation, and all that. Past trends form future trends. Etc... Now is the time to buy with 2007 asking houseprices - mind you could be lucky enough to negotiate a whopping 5% off from the vendor.

BUY BUY BUY.

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I see the Chinese authorities are warning the banks that they're creating new bubbles in Chinese real estate - and that they should redirect loans away from real estate and into 'productive' parts of the economy.

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I see the Chinese authorities are warning the banks that they're creating new bubbles in Chinese real estate - and that they should redirect loans away from real estate and into 'productive' parts of the economy.

Those silly Chinese! You wouldn't find us Brits doing daft things like that. Productive economy indeed! We are into creative and knowledge based industries, dontchaknow.

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And if you can't pay it back, they can execute you and sell your organs on the open market. Free market innit?

I wonder if they are aimed at the Chinese community in Britain. £888 sounds lucky to me.

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I see the Chinese authorities are warning the banks that they're creating new bubbles in Chinese real estate - and that they should redirect loans away from real estate and into 'productive' parts of the economy.

Note the use of the word should

They are now redirecting the money into those amazing models of efficiency - state owned enterprises. As we all know those are the true vanguard of the Chinese economic miracle :lol:

I am sure it won't end up in the foreign bank accounts of corrupt local officials in far away provinces. China is different, y'see.............

And if you can't pay it back, they can execute you and sell your organs on the open market. Free market innit?

And then bill your relatives for the cost of the bullet ;)

But don't worry they won't sell it on the open market - I am sure there is an elderly revolutionary out there who is in need.....

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There was someone called Rodger Bootle (I think) on Radio 4 this morning talking about Bank of China mortgages.

Said that the wee gooks are offering the 'best buy' products in the market.

Then said that they will only lend 3 times single income and 2.5 times joint. He said that other banks are still lending higher multiples than that. I found myself shouting subprime LIAR LOANS at the radio. Eric would have been proud. :lol:

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On Working Lunch today they said that a lot of foreign investment has deserted the marketplace, but there's a new mortgage that (IF you qualify) will be of interest to people.

Chinese banks have started offering mortgages.

I got one of these Chinese mortgages.

It was pretty good, but an hour later I wanted another one.

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Its a light news week.

foreign banks have always offered mortgages in England

HSBC

BOS

RBOS

BNP

thousands.

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Fortune cookie says "your home will be repossessed if you do not keep up the payments on your mortgage"

we'll frack you looooong time.

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