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interestrateripoff

Spirit Of Boom-Time Mortgages Lives On In Europe

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http://uk.reuters.com/article/2013/08/18/uk-europe-banks-mortgages-idUKBRE97H02420130818

Remember the days when you could take a mortgage big enough to buy the house and furnish it, a car to park outside and a holiday to celebrate - all on a repayment schedule that only Methuselah could honour?

Those days have never gone away in pockets of Europe.

While countries like Spain and Ireland battle to reform the boom-era mortgage lending that has left millions of borrowers at risk of losing their homes, corners of the continent better known for their sturdy finances seem to be still lending as if the financial crisis never happened.

In the AAA-rated Netherlands, home to one of the earliest and biggest bailouts of the crisis - ABN Amro's 2008 rescue ultimately cost 30 billion euros - first-time buyers can still borrow up to 105 percent of the value of their new home and can get up to five and a half times their gross salary.

A deflating housing bubble means the Dutch government is now cutting back on some of the riskier mortgage products so the maximum amount lent will fall by 2018, but still only to 100 percent.

Luckily the Dutch are taking action and will reduce that figure to just 100% although no mention if 5.5x salary figure will be addressed.

Edited by interestrateripoff

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http://uk.reuters.com/article/2013/08/18/uk-europe-banks-mortgages-idUKBRE97H02420130818

Luckily the Dutch are taking action and will reduce that figure to just 100% although no mention if 5.5x salary figure will be addressed.

But they're having an HPC aren't they? What are the fees like? Perhaps these mortgages are still advertised but no-one gets approval.

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http://uk.reuters.com/article/2013/08/18/uk-europe-banks-mortgages-idUKBRE97H02420130818

Luckily the Dutch are taking action and will reduce that figure to just 100% although no mention if 5.5x salary figure will be addressed.

The dutch are amateurs http://www.rams.com.au/home-loans/flexible-features/fast-track/

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