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CynicAl

New C&g Mortgage

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http://uk.biz.yahoo.com/28052010/389/new-mortgage-charges-base-rate.html

BoE base rate minus 0.01% for 1st time buyers until 31/12/10, and then base plus 5.49%.

Can't someone legislate against this foolishness.

I would write more, but the stupidity of it has given me writer's block.

Only those who want to default and live rent free for a while need apply. It is so stupid I can't believe the lender is doing it. No, wait....this is Britain. I can believe they are doing it.

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http://uk.biz.yahoo.com/28052010/389/new-mortgage-charges-base-rate.html

BoE base rate minus 0.01% for 1st time buyers until 31/12/10, and then base plus 5.49%.

Can't someone legislate against this foolishness.

I would write more, but the stupidity of it has given me writer's block.

Or looked at another way, these things only become a problem if affordability isn't worked out on the basis of the higher payment and the borrower doesn't recognose that in their planning. C and G won't be intending to write to lots of business that goes into arrears within months you can be sure of that.... the posters comments I think are pure hysteria in this environment.

The logic of the product is perfectly sensible..... effectiveyl it is apy a little less ( quite a lit actually ) for the first few months when your costs are highest ( capets , curtains, decoration etc) then pay an amount you can afford thereafter. I should think this being C and G income and outgoings will be verified and credit scores will need to be pretty high.

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More realistically, they have not allocated much money to this so even if it makes losses, its peanuts compared to the charge that they're not making lending available.

Or looked at another way, these things only become a problem if affordability isn't worked out on the basis of the higher payment and the borrower doesn't recognose that in their planning. C and G won't be intending to write to lots of business that goes into arrears within months you can be sure of that.... the posters comments I think are pure hysteria in this environment.

The logic of the product is perfectly sensible..... effectiveyl it is apy a little less ( quite a lit actually ) for the first few months when your costs are highest ( capets , curtains, decoration etc) then pay an amount you can afford thereafter. I should think this being C and G income and outgoings will be verified and credit scores will need to be pretty high.

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  • 259 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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