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Mortgages still in lockdown despite stamp-duty holiday


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These are difficult times for anyone who wants to buy a home. Despite the government’s attempt to reinvigorate the market with a temporary stamp-duty holiday on properties costing up to £500,000 in England and Northern Ireland, unless you have a large deposit you could face a struggle.

During the crisis lenders have pulled mortgages, with those for borrowers with small deposits disappearing fastest. Some of the big banks and building societies have started to return to the market – last week saw 90% deals launched by Coventry building society and Metro Bank, and, from Monday, Nationwide building society will also be offering them.

But the choice is still limited, and lenders are asking a lot more questions than they were before lockdown.

 

https://www.theguardian.com/money/2020/jul/19/mortgages-still-in-lockdown-despite-stamp-duty-holiday

 

It will be some time before mortgages which require only small deposits will return, said Gammon. [<<LOL]

“I don’t envisage lenders rushing back to the 95% mortgage market – they will want to see what happens as the furlough scheme unwinds, and also what happens to prices,” he says.

“I don’t think 95% mortgages are going to be back before the end of the year.”

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Know a few people who were going through the buying process pre-covid with 5%. Suddenly banks after 15% and bank of grandparents / mum & dad has been raided considerably. There's only so many times you can tell someone to leave it and see how the year pans out but the mentality is still "we don't want to miss out".

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2 hours ago, PeanutButter said:

https://www.theguardian.com/money/2020/jul/19/mortgages-still-in-lockdown-despite-stamp-duty-holiday

 

It will be some time before mortgages which require only small deposits will return, said Gammon. [<<LOL]

“I don’t envisage lenders rushing back to the 95% mortgage market – they will want to see what happens as the furlough scheme unwinds, and also what happens to prices,” he says.

“I don’t think 95% mortgages are going to be back before the end of the year.”

Bingo. Sit back and watch folks.

Edited by HovelinHove
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4 minutes ago, dugsbody said:

"But the last labour government"

I can hear your wailing from here you little baby. Grow up.

I never get tired of reminding people about it .  It's where many of the countries problem started.  Never forget!

 

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4 minutes ago, Warlord said:

I never get tired of reminding people about it .  It's where many of the countries problem started.  Never forget!

No sugar coated nostalgia at all

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1 minute ago, Freki said:

No sugar coated nostalgia at all

Just the facts.  Brown wrecked the economy with his borrowing, spending, bailing out banks, etc. We're still living with the consequences of 2008. 

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2 minutes ago, Warlord said:

Just the facts.  Brown wrecked the economy with his borrowing, spending, bailing out banks, etc. We're still living with the consequences of 2008. 

Brown's borrowing was well within historical norms.

The true wrecking started with your mates in number 10 currently. Austerity for the poor, riches for all their already rich voters (you). No wonder you're shitting yourself. One day the masses will wake up and realise how much you've been deceiving them.

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1 minute ago, dugsbody said:

Brown's borrowing was well within historical norms.

The true wrecking started with your mates in number 10 currently. Austerity for the poor, riches for all their already rich voters (you). No wonder you're shitting yourself. One day the masses will wake up and realise how much you've been deceiving them.

It all started under Brown.  History will record it as such. Go look at his 10 years in the Treasury and then as PM. 

Are you defending 125% mortgages and the bailing out of Northern Rock?

 

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35 minutes ago, Warlord said:

Just the facts.  Brown wrecked the economy with his borrowing, spending, bailing out banks, etc. We're still living with the consequences of 2008. 

What facts ? I see a statement, not a fact. 

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3 minutes ago, Freki said:

What facts ? I see a statement, not a fact. 

Don;t have time to go through it,  sorry .

Research the facts. Brown borrowed/spent a fortune and he bailed out banks and deadbeats like Northern Rock. This is indisputable 

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1 minute ago, Warlord said:

Don;t have time to go through it,  sorry .

Well then it is a statement

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Research the facts. Brown borrowed/spent a fortune and he bailed out banks and deadbeats like Northern Rock. This is indisputable 

That's called selective memory so far

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1 hour ago, Freki said:

Well then it is a statement

That's called selective memory so far

Facts DUH

 

On 17 February 2008, Alistair Darling, the Chancellor of the Exchequer, announced that Northern Rock was to be nationalised

https://en.wikipedia.org/wiki/Nationalisation_of_Northern_Rock

Read and learn the facts.  Only the facts.

Do you think this bailout was a) a good idea or b) necessary?

 

Edited by Warlord
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Here's another one @Freki

 

HBOS and RBS 'to be nationalised' in £50 billion state intervention

HBOS and Royal Bank of Scotland are effectively to be nationalised as the Government seeks to bring the UK banking system under its control to halt the financial crisis.

https://www.telegraph.co.uk/finance/financialcrisis/3185120/Financial-crisis-HBOS-and-RBS-to-be-nationalised-in-50-billion-state-intervention.html

Gordon Brown... what a Clown! 

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6 minutes ago, dugsbody said:

Warlord is really shitting himself. Really going into propaganda overdrive. Something must be up...

 

Nothings up mate just like to remind people about Brown's malfeasance.

Younger people may not remember so it is important to remind people of where all this started.

 

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Just now, Warlord said:

Nothings up mate just like to remind people about Brown's malfeasance.

Younger people may not remember so it is important to remind people of where all this started.

 

i`m more annoyed about HTB

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2 minutes ago, Warlord said:

Nothings up mate just like to remind people about Brown's malfeasance.

Younger people may not remember so it is important to remind people of where all this started.

 

You're too dumb to understand where it all started. You should trying to give your opinion and influence people. 

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Just now, longgone said:

i`m more annoyed about HTB

Well yeah that's another state intervention and the tories do not get a pass.. 

However the bank bailouts cost like £500 billion:

A bank rescue package totalling some £500 billion (approximately $850 billion) was announced by the British government on 8 October 2008.

https://en.wikipedia.org/wiki/2008_United_Kingdom_bank_rescue_package

think about that ... 500 billion!

What would you do with that longgone instead of giving it to bankers ?

 

 

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3 minutes ago, dugsbody said:

You're too dumb to understand where it all started. You should trying to give your opinion and influence people. 

I notice you won't justify Brown's behaviour and in particular the bankster bailouts and the likes of Northern Rock. You just seem to throw insults around 

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1 minute ago, Warlord said:

I notice you won't justify Brown's behaviour and in particular the bankster bailouts and the likes of Northern Rock. You just seem to throw insults around 

It's just your childish crusade that is boring, politicians should all be held accountable for their malfaisance 

 

3 hours ago, Warlord said:

 It's where many of the countries problem started.  Never forget!

Before it was all fine? Moral hazard is something invented in 2008? 

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3 minutes ago, Freki said:

It's just your childish crusade that is boring, politicians should all be held accountable for their malfaisance 

 

Before it was all fine? Moral hazard is something invented in 2008? 

Brown was in the treasury from 97 - 2007 and PM after that.

He pushed lax lending standards and he is responsible. He also bailed them out and kicked the can down the road by borrowing eye watering sums (£170bn deficit in 2010 the year he left office). Yes, the tories have carried it on and will  be judged in due course but its important to remember Brown's god awful legacy 

Edited by Warlord
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  • 416 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?


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      • up 5%



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