spyguy Posted August 3, 2014 Share Posted August 3, 2014 http://www.dailymail.co.uk/money/mortgageshome/article-2714228/New-Bank-England-safeguards-force-lenders-raise-mortgage-costs-warns-Lloyds-boss.html 'Lloyds has slashed the amount it will lend to homebuyers through the Help to Buy Scheme by 70 per cent in a move that could drastically cut the options available to first-time buyers. It will now only accept applications for loans up to £150,000 – down from the previous limit of £500,000. The limit will affect all Lloyds brands – including Halifax and Lloyds Bank – and applies to all shared equity and shared ownership lending, which includes the first phase of Help to Buy.' Good luck on selling that house before IRs rise then. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 3, 2014 Share Posted August 3, 2014 Oh dear. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted August 3, 2014 Share Posted August 3, 2014 What about jam for London! I demand more jam for London. WTF can you buy for £150k in jamtastic London. Won't someone think about London this is clearly just for Northerners with their cheapo housing. Utterly disgraceful. More jam for London. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 3, 2014 Share Posted August 3, 2014 Did we talk about this kind of thing happening in the near future a couple of months ago when Lloyds limited mortgages to 500K or something like that in London for H2B? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 3, 2014 Share Posted August 3, 2014 Lloyds says the new cap is temporary Quote Link to comment Share on other sites More sharing options...
Lifes a game Posted August 3, 2014 Share Posted August 3, 2014 Lloyds says the new cap is temporary When does HTB end? Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted August 3, 2014 Share Posted August 3, 2014 I'm amazed HTB even went up to half a million in the first place Quote Link to comment Share on other sites More sharing options...
Corruption Posted August 3, 2014 Share Posted August 3, 2014 So more money will be concentrated into the end of the market that people could just about afford. (at a struggle if 2 adults were paying the mortgage) Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted August 3, 2014 Share Posted August 3, 2014 Lloyds says the new cap is temporary When does HTB end? When the market crashes. Quote Link to comment Share on other sites More sharing options...
awaytogo Posted August 3, 2014 Share Posted August 3, 2014 I'm amazed HTB even went up to half a million in the first place Yup Just mad. Quote Link to comment Share on other sites More sharing options...
awaytogo Posted August 3, 2014 Share Posted August 3, 2014 Lloyds says the new cap is temporary For now Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted August 3, 2014 Share Posted August 3, 2014 Yup Just mad. Banks, perhaps the most amoral of institutions, being more responsible than the government. Says it all, really. Quote Link to comment Share on other sites More sharing options...
bubbleturbo Posted August 3, 2014 Share Posted August 3, 2014 (edited) Banks, perhaps the most amoral of institutions, being more responsible than the government. Says it all, really. Indeed. Could it be possible that this is the bank flexing it's muscle against Osbrown? This sort of thing significantly slow the housing market and therefore the "recovereh" before the election and they know it. There is a fair amount of talk around about "breaking up" Lloyds and more regulation on the way. Lets not forget it was politicians which effectively ruined Lloyds by forcing them to take on the smouldering shite that was HBOS. Perhaps Lloyds are pi55ed off? Edited August 3, 2014 by bubbleturbo Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted August 3, 2014 Share Posted August 3, 2014 From the comments - "If the housing market is as strong as it seems it will have little effect on borrowers, may slow down price growth briefly but no more than that." No biggie, borrowers are strong and the housing market doesn`t care how much banks lend. Onward and upward. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 3, 2014 Share Posted August 3, 2014 Oh dear. Too dear...that's why they've cut them. Quote Link to comment Share on other sites More sharing options...
TeddyBear Posted August 3, 2014 Share Posted August 3, 2014 This already discussed on this thread http://www.housepricecrash.co.uk/forum/index.php?/topic/200060-guardian-help-to-buy-scheme-hits-new-high/page-2 More detail there on timings Quote Link to comment Share on other sites More sharing options...
Guest Jemmy Button Posted August 3, 2014 Share Posted August 3, 2014 http://www.dailymail.co.uk/money/mortgageshome/article-2714228/New-Bank-England-safeguards-force-lenders-raise-mortgage-costs-warns-Lloyds-boss.html 'Lloyds has slashed the amount it will lend to homebuyers through the Help to Buy Scheme by 70 per cent in a move that could drastically cut the options available to first-time buyers. It will now only accept applications for loans up to £150,000 – down from the previous limit of £500,000. The limit will affect all Lloyds brands – including Halifax and Lloyds Bank – and applies to all shared equity and shared ownership lending, which includes the first phase of Help to Buy.' Good luck on selling that house before IRs rise then. GOOD! Quote Link to comment Share on other sites More sharing options...
Venger Posted August 4, 2014 Share Posted August 4, 2014 GOOD! Have the bank stress-test results been announced yet? It's been a party out there. Recessions = better than boom, and even more HPI. Quote Link to comment Share on other sites More sharing options...
awaytogo Posted August 4, 2014 Share Posted August 4, 2014 From the comments - "If the housing market is as strong as it seems it will have little effect on borrowers, may slow down price growth briefly but no more than that." No biggie, borrowers are strong and the housing market doesn`t care how much banks lend. Onward and upward. Borrowers are as strong as the money they can borrow. The HPI trough being reduced in size month by month. What next interest rate rises? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 4, 2014 Share Posted August 4, 2014 Apparently Buffer has moved to a huge cash position or has dramatically increased his cash position... or something like that... I only mention it as it appears that there is an increasing risk off attitude at the moment? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted August 4, 2014 Share Posted August 4, 2014 Apparently Buffer has moved to a huge cash position or has dramatically increased his cash position... or something like that... I only mention it as it appears that there is an increasing risk off attitude at the moment? Looking at some of the asking prices coming on locally I'd stop lending on the housing mega bubble if I were a money lender. The madness is now way beyond what happened to prices in 2007 but at much smaller volumes. A lot of peolpe are going to get stung. The bankers will be fine though I suspect. Quote Link to comment Share on other sites More sharing options...
Billy soy Posted August 4, 2014 Share Posted August 4, 2014 Quote Link to comment Share on other sites More sharing options...
eric pebble Posted August 4, 2014 Share Posted August 4, 2014 (edited) Borrowers are as strong as the money fictitious "money" - i.e. LIAR LOANS - they can borrow. The HPI trough being reduced in size month by month. What next interest rate rises? Corrected... Edited August 4, 2014 by eric pebble Quote Link to comment Share on other sites More sharing options...
Venger Posted August 5, 2014 Share Posted August 5, 2014 Is this the end of Help to Buy? The state scheme to help first-time buyers looks under threat as Lloyds caps loans at £150,000 amid fears of a house price bubble 04 Aug 2014 http://www.telegraph.co.uk/finance/personalfinance/houseprices/11010809/Is-this-the-end-of-Help-to-Buy.html OECD Urges Osborne To Rein In Help To Buy Morgage SchemeThe Huffington Post UK | By Asa Bennett Posted: 04/08/2014 http://www.huffingtonpost.co.uk/2014/08/04/oecd-help-to-buy-osborne_n_5646800.html Nationwide's Chief Economist sounds like a true brainwashed HPI cheerleader to me (from the video) - although we all know there is no market, only buyer victims who have no control of their decisions to be supported forever, to protect the HPI for all outright older owners and landlords. Nationwide guy probably accurately states house building still 40% below number being built in 2007, back when still too few homes being built. Hopes the 'good news' re positive HPI encourage the VI housebuilders to ramp up production. Get some HTB down you, victim hunters. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 5, 2014 Share Posted August 5, 2014 They were talking about this on Fivelive this morning whilst I was half asleep - the BBC presenter seemed shocked IIRC. Quote Link to comment Share on other sites More sharing options...
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