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Turnbull2000

New Mortgage Boom On Way?

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http://www.financemarkets.co.uk/2009/07/29...s-uk-mortgages/

British landlords and homeowners will soon be able to mortgage their properties with the Bank of China.

Mortgages from the Chinese bank are offered via four brokers, starting at 2.5% above the base rate.

Bank of China previously focussed on lending to Chinese communities in the UK, but is now widening its scope.

Edited by Turnbull2000

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Yeah it doesnt matter who comes and in what quantity the money arrives, providing they do not underprice the risk then there will be no boom or even a levelling of HPs for some time.

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I heard that they would only be lending 3x income and all applicants would have to attend an interview.

If that's the future of mortgage lending in the UK then I'd be the first to welcome it.

Makes sense, they've got all the money after we've spent the last 20 years buying their goods!

However, on this particular web forum this news is likely to be met with fingers stuck in ears and going Lalalalalalalalala...

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Makes sense, they've got all the money after we've spent the last 20 years buying their goods!

However, on this particular web forum this news is likely to be met with fingers stuck in ears and going Lalalalalalalalala...

You knob-end! The mortgages are LTV of 75% MAX! They won't be offering 125%,100% etc etc.

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