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The Masked Tulip

Now Banks Accused Of Causing Mortgage Famine

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Britain's mortgage lenders are continuing to apply the brakes to the housing market, with new data revealing that mortgages remain far harder to get than before the credit crisis. Moneyfacts, the personal finance analyst, said that while the number of new mortgages being offered has risen by two-thirds since the beginning of the year, they are only available to borrowers with large deposits.

http://www.independent.co.uk/news/business/news/now-banks-accused-of-causing-mortgage-famine-2041771.html

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The thing with this is that either there will be a monster wave of inflation or the banks will go bust as house prices deflate. Its one or the other. If they reduce lending (as they are now) they will ultimately cause their own bankruptcy, much as if they lend too much to the wrong sort of idiots.

Edited by Mikhail Liebenstein

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Perhaps they should pass legislation forcing the banks to lend a minimum of £100k to everyone and that everyone must have at least £100k of personal debt, there must be a lot of people no where near in that amount of debt. Think of the growth this would generate.

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...the Independent and their writers are not too bright ...what do you expect without securitisation and 'funny money'....as for large deposits...if you were lending in a falling market would you not demand a large deposit....the bigger fools are those taking / looking for a mortgage at this time..... :rolleyes:

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Starve a bubble and feed a deflated balloon.

Feeding a bubble makes no sense and I commend the bankers return to what seems to be prudent lending practices. It is a pity the Koalishon fail to agree.

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  • 245 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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