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First-Time Buyers Hit By Fresh Lending Drought As Banks Clamp Down On Interest-Only Mortgages


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http://www.dailymail.co.uk/news/article-1278177/First-time-buyers-hit-fresh-lending-drought-banks-clamp-mortgages.html

Melanie Bien, director of the broker Savills Private Finance, said she believes that interest-only mortgages may eventually disappear.

She warned: 'The days of the interest-only mortgage are numbered. Lenders see them as being extremely risky, and they would much prefer everybody to have a repayment deal.

'There will be fewer and fewer of them, and they could eventually disappear.'

do the banks know something we don't? (or something we do should I say)

excellent news for the housing market. :)

also I noticed in a paper yesterday (can't remember which one) that nationwide (?) SVRs will be increasing 1.5% over the next few months. End of SLS?

If anyone else noticed it please oblige with a link.

Edited by Pent Up FTBer
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  • 439 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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