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Cml Ftb Info

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From table 2 at the link http://www.cml.org.uk/cml/media/press/2802

FTB Average income multiple 3.19

LTV 80%

If average FTB age is 37, then an average FTB house with 20% deposit is only just about affordable when your are 4 years off peak earning (41 or so). Think about that for a minute. An FTB needs to be close to peak earnings to affordably (3x salary by historical standards) buy a FTB house affordably (around 3x salary). Are these guys ever even gonig to be able to get off the first rung?

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Offer most of those FTBs a non-income verified 100% mortgage and they will snatch your hand off. They think they are victims if their borrowing is limited in anyway.

You don't need to even mention what the house price is they will sign whatever you put in front of them.

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  • 276 Brexit, House prices and Summer 2020

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