Jump to content
House Price Crash Forum
SarahBell

95% Mortgage Available

Recommended Posts

Thought LIAR LOANS was Self Cert!

borrowing 95% is hardly 'Lying'

In Bristol - you need to earn £54,000 pa JUST to "get on the property ladder": http://www.thisisbristol.co.uk/news/163-54-000/article-2804227-detail/article.html

In London - the figure is more like £90k pa.......

So - if the average bod is to somehow get a 95% Mortgage in this case - then - it implies that every Tom, Dick & Harry in Bristol is "earning" £54,000 pa minus 5% in Bristol, and £90,000 pa minus 5% in London......

THIS IS ONE, BIG, FAT LIE.

Ergo: It will be a LIAR LOAN.

Edited by eric pebble

Share this post


Link to post
Share on other sites

In Bristol - you need to earn £54,000 pa JUST to "get on the property ladder": http://www.thisisbristol.co.uk/news/163-54-000/article-2804227-detail/article.html

In London - the figure is more like £90k pa.......

So - if the average bod is to somehow get a 95% Mortgage in this case - then - it implies that every Tom, Dick & Harry in Bristol is "earning" £54,000 pa minus 5% in Bristol, and £90,000 pa minus 5% in London......

THIS IS ONE, BIG, FAT LIE.

Ergo: It will be a LIAR LOAN.

What a bizarre way of making an argument.

I see it this way: "95% loans are available ON THIS PROPERTY" (my emphasis)

"This property" is in Manchester. Not Bristol. Not London, either.

5% of £75,000 is £3,750, which I would have thought was a perfectly affordable deposit, even taking into account the additional cost of solicitors' fees, the property being exempt from stamp duty.

Nowhere in the post or the property particulars does it say that this mortgage is self-certified. Even if it were, the value of the property concerned and the likely average salary/income in the area are such that this is hardly news.

Tell me, Eric, when the FSA bans self cert mortgages early next year, what are you going to use your red capitals to complain about?

Share this post


Link to post
Share on other sites

Given that they are offering this mortage without knowing who will buy it, does that mean that it is vendor finance ?

No it's probably an EA talking out his ass. Quite common in the UK.

Share this post


Link to post
Share on other sites

What a bizarre way of making an argument.

I see it this way: "95% loans are available ON THIS PROPERTY" (my emphasis)

"This property" is in Manchester. Not Bristol. Not London, either.

5% of £75,000 is £3,750, which I would have thought was a perfectly affordable deposit, even taking into account the additional cost of solicitors' fees, the property being exempt from stamp duty.

Nowhere in the post or the property particulars does it say that this mortgage is self-certified. Even if it were, the value of the property concerned and the likely average salary/income in the area are such that this is hardly news.

Tell me, Eric, when the FSA bans self cert mortgages early next year, what are you going to use your red capitals to complain about?

I'm not talking about Manchester. This property is v much the exception to the rule.

Fact is - in Bristol and MANY other parts of the UK - the "price" of property is at least 9 x average salary: SO - if people are being found mortgages on this basis - it's a LIE - and LIAR LOANS are the only possible way of "affording" them.

AND -- Don't make me laugh - "when the FSA bans self cert mortgages early next year"

:lol::lol: We all know that's a complete load of b0ll0cks - the VI's will find some way of keeping LIAR LOANS going.... :rolleyes:

Edited by eric pebble

Share this post


Link to post
Share on other sites

http://www.rightmove.co.uk/property-for-sale/property-28321156.html

95% MORTGAGES ARE AVAILABLE ON THIS PROPERTY

And look at picture 4! What DIY Skills decided that was a good idea?

Incidentally, I see that the Estate Agents (Ryder & Dutton) marketing that property have really got their act together, pulled out all stops, and spared no expense in ensuring that this property will fly off the books.

Well, that's the line that they will have fed the seller.

Meanwhile, half the photos are not even in focus :lol:

Share this post


Link to post
Share on other sites

Incidentally, I see that the Estate Agents (Ryder & Dutton) marketing that property have really got their act together, pulled out all stops, and spared no expense in ensuring that this property will fly off the books.

Well, that's the line that they will have fed the seller.

Meanwhile, half the photos are not even in focus :lol:

They are open till 8.30pm though.

Not that they are desperate or anything.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 150 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.