2rocketman Posted January 28, 2019 Share Posted January 28, 2019 First-time home buyers get huge boost with Lloyds Bank’s first 100% mortgage The Sun FIRST-time home buyers will get a huge boost today — with Lloyds Bank’s first 100 per cent mortgage targeted at them. The bank will let them borrow enough cash to buy without a deposit. The Lend A Hand mortgage allows another family member to put up ten per cent of the loan as “security”. That... Read the full story Quote Link to comment Share on other sites More sharing options...
thewig Posted January 28, 2019 Share Posted January 28, 2019 DEBT DEBT DEBT Quote Link to comment Share on other sites More sharing options...
24gray24 Posted January 28, 2019 Share Posted January 28, 2019 5 hours ago, 2rocketman said: First-time home buyers get huge boost with Lloyds Bank’s first 100% mortgage The Sun FIRST-time home buyers will get a huge boost today — with Lloyds Bank’s first 100 per cent mortgage targeted at them. The bank will let them borrow enough cash to buy without a deposit. The Lend A Hand mortgage allows another family member to put up ten per cent of the loan as “security”. That... Read the full story The clause I couldn't quite find is how the bank takes the security loan if house prices drop. This whole scheme is known as " offloading btl: a guide for evil step parents". That's it's market. Its only purpose is to help step parents get top dollar from its btl off their own relatives (Any kind parent would gift the 10% and get a normal mortgage) Quote Link to comment Share on other sites More sharing options...
rollover Posted January 28, 2019 Share Posted January 28, 2019 Quote What next? And what will they do after? Quote Link to comment Share on other sites More sharing options...
LetsBuild Posted January 28, 2019 Share Posted January 28, 2019 (edited) Hmmm I’m a FTB with significant deposit that I would love to get 2.5% on. I have a debt addicted BTLer boomer father who would love access to more credit - the perfect product for the topsy turvey world we live in! Edited January 28, 2019 by LetsBuild Quote Link to comment Share on other sites More sharing options...
aheadofthecurve Posted January 28, 2019 Share Posted January 28, 2019 I wonder if we'll see Nationwide's 125% mortgage product hit the market again. Quote Link to comment Share on other sites More sharing options...
cnick Posted January 28, 2019 Share Posted January 28, 2019 12 minutes ago, LetsBuild said: Hmmm I’m a FTB with significant deposit that I would love to get 2.5% on. I have a debt addicted BTLer boomer father who would love access to more credit - the perfect product for the topsy turvey ** world we live in! ** corrupt Quote Link to comment Share on other sites More sharing options...
cnick Posted January 28, 2019 Share Posted January 28, 2019 3 minutes ago, aheadofthecurve said: I wonder if we'll see Nationwide's 125% mortgage product hit the market again. ..is 'market' the right word? Quote Link to comment Share on other sites More sharing options...
Wayward Posted January 28, 2019 Share Posted January 28, 2019 11 hours ago, 2rocketman said: First-time home buyers get huge boost with Lloyds Bank’s first 100% mortgageThe Sun We will still have the same old inadequate housing stock...same restricted supply. Nobody is better housed because Lloyds' loosen credit rules. More credit simply means some idiot or desperado will take Lloyds' offer in order to win the bidding. Forcing prices higher than they would have been without Lloyds' scheme. Nobody is better housed than they would have otherwise been but they have paid more and taken out more debt for what they would have had otherwise for less. Huge boost? - Yes to debt levels. Quote Link to comment Share on other sites More sharing options...
Flopsy Posted January 28, 2019 Share Posted January 28, 2019 What happens at the end of the first term if the house is valued less than the purchase price or if Lloyds stop offering this option? Quote Link to comment Share on other sites More sharing options...
Captain Kirk Posted January 28, 2019 Share Posted January 28, 2019 6 hours ago, rollover said: And what will they do after? Go to the UK government and ask for a taxpayer bailout. Quote Link to comment Share on other sites More sharing options...
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