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The Masked Tulip

How The Ban On 'liar-Loans' Will Hit House Prices

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Very good article.

BTW, does anybody know if the FSA planned ban on liar loans is a ''sure thing' already? And when will it be announced officially?

Can't see it happening personally now that Charlie Bean has admitted that the BOE wants us all to spend, spend, spend!

The ganme is to elminate the savings of all in order to prop up house prices and shops.

That is the UK economy.

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Can't see it happening personally now that Charlie Bean has admitted that the BOE wants us all to spend, spend, spend!

The ganme is to elminate the savings of all in order to prop up house prices and shops.

That is the UK economy.

How much actual savings do the public have compared to the black hole that exists in the nation's finances?

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Talking to a friend of mine over the weekend, and he went for a mortgage review recently, see how much he could borrow. He's the same salary band as I, so he's on the same as me +/- 2k or so.

Offered 6.5 times.

When he said that this seemed a little high, broker said, oh that's fine, we can just call out some additional income streams, and say you're going to let a room (he has no additional income, nor was he planning on letting a room).

Not convinced 'liar-Loans' have gone anywhere.

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Can't see it happening personally now that Charlie Bean has admitted that the BOE wants us all to spend, spend, spend!

The ganme is to elminate the savings of all in order to prop up house prices and shops.

That is the UK economy.

the BoE realise it's a lonmg drop to the bottom and are just piling up a load of mattresses and cushions before giving the push, that's all

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Talking to a friend of mine over the weekend, and he went for a mortgage review recently, see how much he could borrow. He's the same salary band as I, so he's on the same as me +/- 2k or so.

Offered 6.5 times.

When he said that this seemed a little high, broker said, oh that's fine, we can just call out some additional income streams, and say you're going to let a room (he has no additional income, nor was he planning on letting a room).

Not convinced 'liar-Loans' have gone anywhere.

So will your "friend" be informing the appropriate regulatory board of this fraud? Or can he not be bothered?

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Talking to a friend of mine over the weekend, and he went for a mortgage review recently, see how much he could borrow. He's the same salary band as I, so he's on the same as me +/- 2k or so.

Offered 6.5 times.

When he said that this seemed a little high, broker said, oh that's fine, we can just call out some additional income streams, and say you're going to let a room (he has no additional income, nor was he planning on letting a room).

Not convinced 'liar-Loans' have gone anywhere.

LIAR LOANS

are the key to the ABSURD "prices" we face today.

Without LIAR LOANS - the "market" would stop dead and collapse. LIAR LOANS are HOLDING/PROPPING UP the "market" almost entirely.

The VI's know this - and THAT is why - one way or another - LIAR LOANS are going to stay. As I've said before, The VI's will EAT THEIR GRANDMOTHERS and/or FRY THEIR BABIES before they let LIAR LOANS disappear.

Edited by eric pebble

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Thanks AG, a very objective reply.

So, "consultation on these proposals will" close on 16 November 2010. OK. And then we will have to wait for the conclusions, and then for the implementation, and then wait for the the effects...

Oh life....

Bit "Tired of Waiting" here.

We do have to try to forget this whole mess for a while...

.

Edited by Tired of Waiting

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Thanks AG, a very objective reply.

So, "consultation on these proposals will" close on 16 November 2010. OK. And then we will have to wait for the conclusions, and then for the implementation, and then wait for the the effects...

Oh life....

Bit "Tired of Waiting" here.

We do have to try to forget this whole mess for a while...

.

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Talking to a friend of mine over the weekend, and he went for a mortgage review recently, see how much he could borrow. He's the same salary band as I, so he's on the same as me +/- 2k or so.

Offered 6.5 times.

When he said that this seemed a little high, broker said, oh that's fine, we can just call out some additional income streams, and say you're going to let a room (he has no additional income, nor was he planning on letting a room).

Not convinced 'liar-Loans' have gone anywhere.

Was it IO or repayment?

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Hey, they better implement the restrictions very shortly after announcing them. Otherwise we will have a stampede of buyers taking "the last liar loans allowed"! A mortgage rush! :( That could even push prices up again, albeit temporarily, but it would delay, AGAIN, this bleeding correction!

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The property market has been supported by these loans up until now and it’s still inflating fast, not. Oh hold on its stagnating with the banks demanding equity to cover the potential drops that they expect. That’s the reason for the drop in volumes and start of the collapse in prices. They’ll end up banning these after the collapse has happened, bloody Muppets in the BoE and FSA they are so hopeless they’ll be saying “we did everything to save the property market”. But we all know that there was nothing they could have done the they’ve exhaust all logical measures in support of the ponzi.

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The property market has been supported by these loans up until now and it's still inflating fast, not. Oh hold on its stagnating with the banks demanding equity to cover the potential drops that they expect. That's the reason for the drop in volumes and start of the collapse in prices. They'll end up banning these after the collapse has happened, bloody Muppets in the BoE and FSA they are so hopeless they'll be saying "we did everything to save the property market". But we all know that there was nothing they could have done the they've exhaust all logical measures in support of the ponzi.

Ruthless bastards have been restocking their vaults with taxpayer cash, refusing to lend any out to 'viable' businesses for expansion etc (much unlike their own!) ripping off savers, loading up the interest rates, charges and fees on all their products - then they demand the above!

Above all this they have been shutting down as many branches as they can get away with giving Less customer services!

Who's running the country?

Edited by erranta

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Talking to a friend of mine over the weekend, and he went for a mortgage review recently, see how much he could borrow. He's the same salary band as I, so he's on the same as me +/- 2k or so.

Offered 6.5 times.

When he said that this seemed a little high, broker said, oh that's fine, we can just call out some additional income streams, and say you're going to let a room (he has no additional income, nor was he planning on letting a room).

Not convinced 'liar-Loans' have gone anywhere.

I was offerd 6x(joint) earnings from the Halifax when searching for a deal. Mad.

Settled for Britannia who offered 3.75x (borowed far less) at a nice rate, fixed for 5 years with our big deposit.

It's still silly out there, with crazy lending offered if you have a deposit and a perfect credit rating.

If I'd have taken the x6 lending I could have bought someting really nice (am anyway), but eating would be an issue.

They justified it on my wife being a high earner and her projected future income.

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Ruthless bastards have been restocking their vaults with taxpayer cash, refusing to lend any out to 'viable' businesses for expansion etc (much unlike their own!) ripping off savers, loading up the interest rates, charges and fees on all their products - then they demand the above!

Above all this they have been shutting down as many branches as they can get away with giving Less customer services!

Who's running the country?

they are !

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When I was looking for a mortgage very recently with my partner, I was seeing 4x joint income as being the norm.

We're currently in the process of securing a mortgage. They have asked for our last 3 months pay slips. They also plan to verfiy our incomes by calling our employers.

Edited by Speak&Spell

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The size of our debt and the still intact housing bubble necessitates a continuation of the policies that created it in the first place. In all smoke and mirror economies there is an essential need for "innovatiove" investment vehicles to keep the plates spinning. Key is to keep the consumers entering the PONZI at the bottom to feed the Banksters at the top. As the banksters appetite for bonuses grows the more sheeple they need to enter the market. Without fictional loans I cannot see how the BoE can keep it going.

Bottom line: A LIE of an economy needs LIAR LOANS.

Edited by Realistbear

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When I was looking for a mortgage very recently with my partner, I was seeing 4x joint income as being the norm.

We're currently in the process of securing a mortgage. They have asked for our last 3 months pay slips. They also plan to verfiy our incomes by calling our employers.

4x joint !?!?!?!

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I was offerd 6x(joint) earnings from the Halifax when searching for a deal. Mad.

............//

They justified it on my wife being a high earner and her projected future income.

Who offered you the 6x joint?

Bloody insanity. :angry: :wacko::wacko:

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LIAR LOANS

are the key to the ABSURD "prices" we face today.

Without LIAR LOANS - the "market" would stop dead and collapse. LIAR LOANS are HOLDING/PROPPING UP the "market" almost entirely.

The VI's know this - and THAT is why - one way or another - LIAR LOANS are going to stay. As I've said before, The VI's will EAT THEIR GRANDMOTHERS and/or FRY THEIR BABIES before they let LIAR LOANS disappear.

;)

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  • 261 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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