The Masked Tulip Posted May 26, 2014 Share Posted May 26, 2014 Does Rightmove show a large increase in properties for sale in Swansea West? I do not think I have looked at RM since January if that. One of the biggest firms in Swansea is not on RM anyhow. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted June 3, 2014 Share Posted June 3, 2014 RBS has followed LLoyds: http://www.ft.com/cms/s/0/2ef51006-eb0e-11e3-bab6-00144feabdc0.html?siteedition=uk#axzz330ElHSSb "RBS, which is 81 per cent owned by the government, is restricting customers to a maximum of four times their income on loans of £500,000 or more – echoing Lloyds’ move last month." Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted June 3, 2014 Share Posted June 3, 2014 RBS has followed LLoyds: http://www.ft.com/cms/s/0/2ef51006-eb0e-11e3-bab6-00144feabdc0.html?siteedition=uk#axzz330ElHSSb "RBS, which is 81 per cent owned by the government, is restricting customers to a maximum of four times their income on loans of £500,000 or more – echoing Lloyds’ move last month." Good news. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted June 3, 2014 Share Posted June 3, 2014 is that London-only like Lloyds? It's such a high bar. 4x income is too much, and only doing it on loans of half a MILLION pounds is too high a threshold. Quote Link to comment Share on other sites More sharing options...
Shotoflight Posted June 3, 2014 Share Posted June 3, 2014 (edited) Royal Bank of Scotland caps risky mortgages Government-owned lender follows Lloyds in introducing loan-to-income limits on mortgages above £500,000 http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10873249/Royal-Bank-of-Scotland-caps-risky-mortgages.html Edited June 3, 2014 by Shotoflight Quote Link to comment Share on other sites More sharing options...
Billy Ray Valentine Posted June 3, 2014 Share Posted June 3, 2014 is that London-only like Lloyds? It's such a high bar. 4x income is too much, and only doing it on loans of half a MILLION pounds is too high a threshold. I think it's applying to the whole country. I agree with what you say, but it's a start, and will help turn sentiment. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 3, 2014 Share Posted June 3, 2014 RBS has followed LLoyds: http://www.ft.com/cms/s/0/2ef51006-eb0e-11e3-bab6-00144feabdc0.html?siteedition=uk#axzz330ElHSSb "RBS, which is 81 per cent owned by the government, is restricting customers to a maximum of four times their income on loans of £500,000 or more – echoing Lloyds’ move last month." Max Keiser today interviewed a guy who has written a book called, IIRC, 'RBS - The bank that broke Britain'. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 4, 2014 Share Posted June 4, 2014 Swansea estate agent says new mortgage rules are too severe Read more at http://www.southwales-eveningpost.co.uk/Swansea-estate-agent-says-new-mortage-rules/story-21180393-detail/story.html#EU0f9VrFfMQHRxCM.99 Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 4, 2014 Share Posted June 4, 2014 The bleating begins. You get the same bleating when fishing quotas are introduced. The idiots would rather see the fish become extinct and they fleet lost later than the fleet saved for continuous fishing forever. In the World of Property, a new word is being introduced....SUSTAINABILITY. This market is being sustainerized. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 4, 2014 Share Posted June 4, 2014 The bleating begins. You get the same bleating when fishing quotas are introduced. The idiots would rather see the fish become extinct and they fleet lost later than the fleet saved for continuous fishing forever. In the World of Property, a new word is being introduced....SUSTAINABILITY. This market is being sustainerized. Greed is a terrible thing. Hope I win the Euro lottery jackpot this week Quote Link to comment Share on other sites More sharing options...
Venger Posted June 4, 2014 Share Posted June 4, 2014 Swansea estate agent says new mortgage rules are too severe Read more at http://www.southwales-eveningpost.co.uk/Swansea-estate-agent-says-new-mortage-rules/story-21180393-detail/story.html#EU0f9VrFfMQHRxCM.99 Always cheers me up. Quote Link to comment Share on other sites More sharing options...
Venger Posted June 6, 2014 Share Posted June 6, 2014 iNVEZZ.com, Thursday, June 5: Lloyds Banking Group (LON:LLOY) has agreed the sale of a book of UK commercial real estate loans. The state-backed lender said in a regulatory statement this morning that the portfolio had been acquired by Promontoria Holding 109 B.V., an affiliate of US hedge fund Cerberus Global Investors, for £352 million. The agreed price represents a 34 percent discount to the portfolio’s gross value of £536 million. in full: http://invezz.com/news/equities/11343-lloyds-share-price-bank-sells-uk-property-loans-portfolio-at-discount Deleveraging continues.... Quote Link to comment Share on other sites More sharing options...
mrtickle Posted June 6, 2014 Share Posted June 6, 2014 Swansea estate agent says new mortgage rules are too severe Read more at http://www.southwales-eveningpost.co.uk/Swansea-estate-agent-says-new-mortage-rules/story-21180393-detail/story.html#EU0f9VrFfMQHRxCM.99 He had his chance to take part in the extremely long and drawn-out consultation process. Too late now. Tough. The MMR rules were watered down and weakened in response to the first round of bleating, so what we've got is only a fraction of what was originally planned. Now it seems the strategy is to act all surprised, and try to get the actual implemented rules watered down even further? No, no, no! Quote Link to comment Share on other sites More sharing options...
Digsby Posted June 6, 2014 Share Posted June 6, 2014 That EA article is devoid of any reasoning it's barely worth commenting on. The comments on the website are worth reading (more recently added I think). Yes prudent and responsible lending is admirable, but prudent and resonsible borrowing is essential and since the (not so) great british public are clearly so inept at this, it's not surpising that lenders are having to do the maths for them. To bleat on about basic affordability 'complicating' mortgage applications, well the mind boggles. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 9, 2014 Share Posted June 9, 2014 Swansea estate agent says new mortgage rules are too severe Read more at http://www.southwales-eveningpost.co.uk/Swansea-estate-agent-says-new-mortage-rules/story-21180393-detail/story.html#EU0f9VrFfMQHRxCM.99 Rehash of the above article in tonight's Swansea Post but with this extra interesting tidbit: One local couple have seen their mortgage offer withdrawn at the 11th hour after it emerged they had gone overdrawn in their bank account by just £18 on one day. The shake-up has come about as a result of tougher lending restrictions aimed at cooling dangerous hotspots in the housing market. Tough mortgage rules 'forcing out buyers' says Swansea estate agent Read more at http://www.southwales-eveningpost.co.uk/Tough-mortgage-rules-forcing-buyers/story-21206858-detail/story.html Quote Link to comment Share on other sites More sharing options...
Venger Posted June 19, 2014 Share Posted June 19, 2014 (edited) Mentioned already? http://www.lloydsbank.com/mortgages/offers/lend-a-hand.asp 4 June 2014 ...Lloyds Bank recently cancelled its Lend a Hand scheme, which allowed parents to help children who are first-time buyers get on the housing ladder, and has limited what it will lend in expensive areas such as London. http://www.dailymail.co.uk/money/mortgageshome/article-2644658/Generation-Rent-housing-laddermos-template.html That'll be the parents themselves, letting go, trying not to go down too with crashing house prices. (Although sadly I saw a Lend A Hand / family help type mortgage deal on a leaflet from Vernon Building Society yesterday - quite cheesy looking imo.) Edited June 19, 2014 by Venger Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 19, 2014 Share Posted June 19, 2014 Mentioned already? http://www.lloydsbank.com/mortgages/offers/lend-a-hand.asp That'll be the parents themselves, letting go, trying not to go down too with crashing house prices. (Although sadly I saw a Lend A Hand / family help type mortgage deal on a leaflet from Vernon Building Society yesterday - quite cheesy looking imo.) Lend a Hand Fiver for a bankers bonus. Quote Link to comment Share on other sites More sharing options...
little fish Posted June 19, 2014 Share Posted June 19, 2014 Gross mortgage lending held steady in May and was an estimated £16.5 billion, according to the Council of Mortgage Lenders. This is identical to April’s gross lending total and is 12% higher than May last year (£14.8 billion). http://www.cml.org.uk/cml/media/press/3944 Today's cml update. Is MMR really making much of a difference given lending in May was up 12% on last year? Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 19, 2014 Share Posted June 19, 2014 http://www.cml.org.uk/cml/media/press/3944 Today's cml update. Is MMR really making much of a difference given lending in May was up 12% on last year? I couldn't get their spreadsheet to open. The release mentions 'statistical fog' Quote Link to comment Share on other sites More sharing options...
little fish Posted June 19, 2014 Share Posted June 19, 2014 I couldn't get their spreadsheet to open. The release mentions 'statistical fog' I liked that 'statistical fog' too These are estimated figures for May so I suppose they could change and I am never sure if they include BTL or not. The spreadsheet opens in excel. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 19, 2014 Share Posted June 19, 2014 Mentioned already? http://www.lloydsbank.com/mortgages/offers/lend-a-hand.asp That'll be the parents themselves, letting go, trying not to go down too with crashing house prices. (Although sadly I saw a Lend A Hand / family help type mortgage deal on a leaflet from Vernon Building Society yesterday - quite cheesy looking imo.) Lend a Hand was defunct the day Help to Buy started. That meant the governbankment were lending a hand with our taxes instead. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted July 11, 2014 Share Posted July 11, 2014 RBS brands bring in 4.99 LTI cap on BTL mortgagesFrom Monday 14 July, RBS, NatWest and NatWest Intermediary Solutions will introduce a 4.99 times loan-to-income cap per application for all buy-to-let business. The banks say they place a strong focus on affordability and measures to safeguard their customers and this change of policy is being introduced to create greater consistency between buy-to-let and residential lending policy. Maximum loan-to-value for buy-to-let mortgages remains at 75 per cent as does the maximum loan size of £500,000. http://www.mortgagefinancegazette.com/buy-to-let/rbs-brands-bring-in-4-99-lti-cap-on-btl-mortgages/ Quote Link to comment Share on other sites More sharing options...
spyguy Posted July 11, 2014 Share Posted July 11, 2014 Err its BTL loan. Do they mean 4.9 rental income? If they mean LL income, then, following the MMR guidelines - and I know BTLs are unregulated, they're going to have to discount any of LLS' current mortgages and debt. Would it not have been easier to say they are no longer doing BTL mortgages? Quote Link to comment Share on other sites More sharing options...
Venger Posted July 11, 2014 Share Posted July 11, 2014 Good find Free Trader. I like the sound of this.. others lenders follow. Implications? more info... http://www.ftadviser.com/2014/07/11/mortgages/mortgage-products/rbs-clamps-down-on-buy-to-let-loan-to-income-multiples-8RRGRnLhkmQPhfpMhfvB1L/article.html Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted July 11, 2014 Share Posted July 11, 2014 Err its BTL loan. Do they mean 4.9 rental income? If they mean LL income, then, following the MMR guidelines - and I know BTLs are unregulated, they're going to have to discount any of LLS' current mortgages and debt. Would it not have been easier to say they are no longer doing BTL mortgages? Sounds like it. If you are a BTL chancer, come off a deal you are unlikely to be able to Remo with them so look elsewhere. Where exactly, MX? Quote Link to comment Share on other sites More sharing options...
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