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spyguy

Another Mortgage Rationing Story

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Its the Mail:

http://www.dailymail.co.uk/news/article-2538917/A-mortgage-Only-cope-rate-rise-Potential-buyers-stress-tested-lenders-major-crackdown.html

Basically, stress test for 7% IRs.

I've seen a comment in a number of places, here included, that part of Carney's plan is some sort is mortgage rationing.

If this is true then HTB stuff is nothing more than a bit of ineffective sugar.

Only the unencumbered, under-leveraged and solvent need apply.

On a side note, in my circle of friends I've not heard of any taking a new mortgage on.

Hardly suprising as most have mortgages that they cannot afford. Im outside of London by the way.

The only house exchange I know of is someone how exchange a nice but small 1.5 bed house for a dirty old man's probate house which offered an extra bedroom and more space. They jumped through hoops to transfer their existing mortgage - which they can longer afford - hours cut, etc.

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  • 404 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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