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beccles

Lloyds Tsb 120% Mortgages

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http://www.lovemoney.com/news/property-and-mortgages/mortgages/11068/the-new-120-mortgage

Robert Powell takes a look at Lloyds TSB’s new mortgage for home owners who want to move but are being held back by negative equity...

Could the 120% mortgage kickstart the market?

If you thought the days of 120% mortgages - where mortgage lenders agree to lend borrowers 120% of the value of a property - were long gone, never to return: think again.

Lloyds TSB has just launched a new mortgage deal that allows its customers to do just that.

The difference is, unlike those pre-credit crunch mortgages that were offered to first time buyers without a deposit to help them get their feet on the first rung of the property ladder, this mortgage is aimed at 'second steppers'.

Edited by beccles

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Great concept!

You already have a silly mortgage (Which is why you are suffering negative equity, 'cos you bought at the peak, paid far too much, borrowed too much) and now those financial genii at Lloyds want you to put yourself even further into hock, just at the very point in time where the market is about to melt down!

:lol:

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Stupid idea.

People further up the ladder are just as feckless as those at the bottom. The difference is, they were born a few years earlier!

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will they try to securitise these new "mortgages"....oh noes, theyd have to lie about the cover they have, to investors

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This is actually good for HPC! At the moment sellers are holding out for unrealistic prices because they can't clear their mortgages otherwise. This keeps prices high but kills the market. But the extra 20% allows them to sell at a loss and carry forward the debt to another property. House prices become free to fall.

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Unless they prop up the market is is going to crash badly. It will take the nation down with it and the IMF will be at our door with a bail out.

IT IS THAT SERIOUS FOLKS.

They either get the bubble inflatig again or its over. HPI or bust.

What do I think the chances are of them getting HPI going again? Less than .001%.

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Unless they prop up the market is is going to crash badly. It will take the nation down with it and the IMF will be at our door with a bail out.

IT IS THAT SERIOUS FOLKS.

They either get the bubble inflatig again or its over. HPI or bust.

What do I think the chances are of them getting HPI going again? Less than .001%.

This is mentally deranged, seems like they Government and the bankers want to bring down the country, they need to be put before a court of law.

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Unless they prop up the market is is going to crash badly. It will take the nation down with it and the IMF will be at our door with a bail out.

IT IS THAT SERIOUS FOLKS.

They either get the bubble inflatig again or its over. HPI or bust.

What do I think the chances are of them getting HPI going again? Less than .001%.

nonsense.

house prices fall, more people can AFFORD the mortgages, the mortgages are safer, the security is better, the borrower has money left over to furnish his new place, we have movement and economic activity again.

one or two big banks might fail, but they need to, all these busted banks are draining the life blood away.

we need some bankers in bankruptcy.

we need lower house prices so that market can move safely and sensibly with little risk.

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It is serious.

My brother soon to be in law, who is self employed in the property trade. He hasn't had work for a month, and nothing in the pipeline. This is very bad, in his words, the worst January in 30 years. He's just remortgaged to keep the cashflowing not by choice. He won't be trading up, until things improve.

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This is mentally deranged, seems like they Government and the bankers want to bring down the country, they need to be put before a court of law firing squad.

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Unless they prop up the market is is going to crash badly. It will take the nation down with it and the IMF will be at our door with a bail out.

IT IS THAT SERIOUS FOLKS.

They either get the bubble inflatig again or its over. HPI or bust.

What do I think the chances are of them getting HPI going again? Less than .001%.

Drama Queen

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Great concept!

You already have a silly mortgage (Which is why you are suffering negative equity, 'cos you bought at the peak, paid far too much, borrowed too much) and now those financial genii at Lloyds want you to put yourself even further into hock, just at the very point in time where the market is about to melt down!

:lol:

chittyL0406_468x355.jpg

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sounds a sensible move (given that we have nationalised banks) to ease the logjam of mortgage chains - otherwise the economy suffers as people cannot move to get jobs

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  • 277 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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