Bill D'arblay Posted October 31, 2015 Share Posted October 31, 2015 Sub-prime mortgages make surprise comeback in the UK According to the Grauniad sub prime mortgages are back and many players are entering this market again. Especially welcome are ex bankrupt and feckless would be 'buy to let'ers. My only surprise is the use of the word surprise in the headline. Quote Link to comment Share on other sites More sharing options...
billybong Posted October 31, 2015 Share Posted October 31, 2015 (edited) and yet Bernanke was being interviewed last Monday (on Hardtalk and link posted in an HPC thread yesterday, Friday) about the economic collapse and saying how it was all far better regulated etc and of course they would have to be vigilante and of course the UK was following good policies like the US. They'll say anything. Edited October 31, 2015 by billybong Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 31, 2015 Share Posted October 31, 2015 I thought that would be an Express article. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted October 31, 2015 Share Posted October 31, 2015 How can something come back when it never left? Quote Link to comment Share on other sites More sharing options...
eric pebble Posted October 31, 2015 Share Posted October 31, 2015 Sub-prime mortgages make surprise comeback in the UK According to the Grauniad sub prime mortgages are back and many players are entering this market again. Especially welcome are ex bankrupt and feckless would be 'buy to let'ers. My only surprise is the use of the word surprise in the headline. Let's re-phrase & correct that: Sub-prime PREDATORY LIAR LOAN mortgages make surprise comeback in the UK Quote Link to comment Share on other sites More sharing options...
Bill D'arblay Posted October 31, 2015 Author Share Posted October 31, 2015 How can something come back when it never left? They did, as far as the general public was concerned. I think you are referring to Liar Loans. Let's re-phrase & correct that: Sub-prime PREDATORY LIAR LOAN mortgages make surprise comeback in the UK You don't need to lie or have a good credit record to get these sub-prime, high interest loans. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted October 31, 2015 Share Posted October 31, 2015 And these mortgages come at a price: some borrowers taking out a two-year fixed-rate deal will be charged as much as 7%-8%, compared with current best-buy rates of as little as 1.54% on conventional loans. Many of the lenders in this sector, including Bluestone and Magellan, say they will only consider people whose financial problems were triggered by a specific event in their lives, such as redundancy, a relationship breakdown, serious illness or an unplanned pregnancy, and who are now willing and able to meet their obligations. Individuals will usually be required to provide evidence of this event, such as a P45 or doctor’s note. Not good but not exactly the the return to pre 08/07 breath on this mirror please ,now how much would like to borrow Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted October 31, 2015 Share Posted October 31, 2015 Not good but not exactly the the return to pre 08/07 breath on this mirror please ,now how much would like to borrow Pretty broad 'such as' list...though they forgot unexpected alien abduction, Quote Link to comment Share on other sites More sharing options...
billybong Posted October 31, 2015 Share Posted October 31, 2015 It's the thin end of the wedge. Gradually over time the lenders/crooks will introduce more and more dodginess back into the market. They're crooks and that's what crooks do. Quote Link to comment Share on other sites More sharing options...
PopGun Posted November 1, 2015 Share Posted November 1, 2015 All the indicators are back and primed. I'm returning to megatron bear status Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 1, 2015 Share Posted November 1, 2015 How come it's a surprise...i've been pointing it out for 3 years now. Quote Link to comment Share on other sites More sharing options...
JustAnotherProle Posted November 2, 2015 Share Posted November 2, 2015 When all the fundamentals for sensible borrowing, in order to buy shelter, is so absolutely broken and out of kilter with the "real" economy of average earning and affordability, then there is no other route for debt slavers to take, it HAS to be the return of liar loans in some form or the dance can't continue. I hope this time it burns them into the ground, no bailouts, no forbearance, just old fashioned lesson learning long jail terms to reset the system of the super crooks and idiots for a while. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.