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Mortgage Phobia

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http://www.alliance-leicester-group.co.uk/...tCode=PR2907051

Those least likely to suffer from ‘mortgage-phobia’ live in the North-East. They overwhelmingly cite that renting has nothing to do with their fear of getting a mortgage, but rather, it is a lifestyle choice (56%).

:lol::lol::lol:

Many lenders, including Alliance & Leicester, now base their lending decisions on affordability - an applicant’s ability to afford a mortgage - rather than on traditional income multiples which should reassure people and give additional peace of mind. We view this as a more responsible method of lending money which can minimise the risk of over-indebtedness."

:ph34r:

But then right at the end....

Nearly a fifth (19%) of those in their 30s seem to be timing the market. They say they would prefer to rent, than buy, because they would like to wait for house prices to fall.

:)

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Question to all you forum Luvies out there, A friend of mine against all my advise has decided to take the property plunge, got an mortgage offer from the A&L at 4.59% fixed for 5 years, ever before she's handed over the reddies the rate drops to 4.49%, she then asks the bank if she could re-apply for the new rate at 4.49%, Mr A&L wants £200 to rewite the origional offer :blink::blink::blink: , is this right or is someone seriously taking the pi$$.

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Question to all you forum Luvies out there, A friend of mine against all my advise has decided to take the property plunge, got an mortgage offer from the A&L at 4.59% fixed for 5 years, ever before she's handed over the reddies the rate drops to 4.49%, she then asks the bank if she could re-apply for the new rate at 4.49%, Mr A&L wants £200 to rewite the origional offer  :blink:  :blink:  :blink: , is this right or is someone seriously taking the pi$$.

They're will within their rights as far as I can see unfortunately.

Your friend decided that a fixed rate of 4.59% would suit her fine. This is always on the understanding that it's a gamble as protection from rising rates also means losing out if they drop.

Fixed rate wouldn't be fixed rate if they allowed everyone to transfer to a cheaper rate once rates dropped would it? If the interest rates had increased your friend wouldn't be complaining so her fixed rate mortgage has done it's job!

Perhaps the timing is bad but I would advise your friend to swallow it this time as it's only .1%. Her fixed rate mortgage will more than make up for it over the next 5 years as you and I well know!

:)

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its only becasue they are 40% overpriced.

how can these clever financial clowns not work it out ?

its like they dont want to accept they are overpriced by an insane amount.

VIs are all "Uh whats up with everybody. it must be this it must be that" while all around them people are shouting it to them - THERE OVERPRICED YOUR MORONS !!

it would be better if all VIs had to wear a pantomine crocodille suit for public interviews.

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Guest uberstuka

"Leonard continued: "Those who have already taken the plunge and bought their properties, seem happiest with their choice."

But for how long? And when did they first take this plunge: 1994? ;)

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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