Bruce Banner Posted March 27 Share Posted March 27 (edited) First-time buyers' mortgage with £5,000 deposit and £500k limit launched - but there are some restrictions | Business News | Sky News Yorkshire Building Society's mortgage director, Ben Merritt, said its research suggested £5,000 was the sum that could help young people get on the property ladder. Edited March 27 by Bruce Banner Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted March 27 Share Posted March 27 6 minutes ago, Bruce Banner said: Yorkshire Building Society launches new mortgage with just £5,000 deposit - Birmingham Live (birminghammail.co.uk) I read on twitter that, flats and new builds are excluded. Assuming to reduce the negative equity risk Quote Link to comment Share on other sites More sharing options...
Huggy Posted March 27 Share Posted March 27 11 minutes ago, Bruce Banner said: help I wish they would stop misusing that word. Annoys me almost as much as "homeowner", which, I guess, will be the grand title the suckers who get these 99% mortgages will be awarded with by others in the cult. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted March 27 Share Posted March 27 5 minutes ago, Huggy said: I wish they would stop misusing that word. Annoys me almost as much as "homeowner" "ladder" 😉 Quote Link to comment Share on other sites More sharing options...
Stewy Posted March 27 Share Posted March 27 Looks like the last few days and weeks of The Plateau. Harsh...I liked that word... Quote Link to comment Share on other sites More sharing options...
Huggy Posted March 27 Share Posted March 27 15 minutes ago, DownwardSlopingPlateau said: "ladder" 😉 🤬 Quote Link to comment Share on other sites More sharing options...
Blobsy Posted March 27 Share Posted March 27 Anyone buying their first house at this juncture will unlikely be moving up any ‘ladder’ for some time, if ever. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted March 27 Share Posted March 27 £5k down, only £495k left to pay? FTB are saved: Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 27 Share Posted March 27 I hate YBS. They're just a B&B lite with an inside track to govt for future bungs and bailouts. Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted March 27 Share Posted March 27 1 hour ago, Bruce Banner said: First-time buyers' mortgage with £5,000 deposit and £500k limit launched - but there are some restrictions | Business News | Sky News Yorkshire Building Society's mortgage director, Ben Merritt, said its research suggested £5,000 was the sum that could help young people get on the property ladder. Salary being the main restriction Quote Link to comment Share on other sites More sharing options...
winkie Posted March 27 Share Posted March 27 There is no ladder. Quote Link to comment Share on other sites More sharing options...
Pebbles Posted March 27 Share Posted March 27 3 hours ago, Si1 said: I hate YBS. They're just a B&B lite with an inside track to govt for future bungs and bailouts. I agree about ybs. the only good point from this is hopefully shut up those on here who said these mortgages wouldn't be available and credit wasn't going to be loosened. Like stewy I can see the plateau ending soon. Quote Link to comment Share on other sites More sharing options...
Social Justice League Posted March 27 Share Posted March 27 A lifetime of debt must be pushed onto feckless halfwits at all costs, otherwise the whole western financial system falls over and dies. It is comedy how desperate things are getting for the bent worthless fiat printers. Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 27 Share Posted March 27 2 hours ago, Pebbles said: I agree about ybs. the only good point from this is hopefully shut up those on here who said these mortgages wouldn't be available and credit wasn't going to be loosened. Like stewy I can see the plateau ending soon. very bad timing for an incoming Labour govt Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted March 27 Author Share Posted March 27 1 hour ago, Si1 said: very bad timing for an incoming Labour govt As it was intended to be. Everything is political at this time in an election cycle. Quote Link to comment Share on other sites More sharing options...
cdd Posted March 27 Share Posted March 27 3 hours ago, Pebbles said: I agree about ybs. the only good point from this is hopefully shut up those on here who said these mortgages wouldn't be available and credit wasn't going to be loosened. Like stewy I can see the plateau ending soon. What you see: proof of HPI What it could actually be: desperation to keep the pyramid scheme from falling over. Quote Link to comment Share on other sites More sharing options...
Housepricecrash91 Posted March 27 Share Posted March 27 7 hours ago, DownwardSlopingPlateau said: £5k down, only £495k left to pay? FTB are saved: Exactly my thoughts, the deposit isn't the main issue... It's the monthly repayments when borrowing stupid money with a 5% interest rate Quote Link to comment Share on other sites More sharing options...
70PC Posted March 27 Share Posted March 27 8 hours ago, Bruce Banner said: First-time buyers' mortgage with £5,000 deposit and £500k limit launched - but there are some restrictions | Business News | Sky News Yorkshire Building Society's mortgage director, Ben Merritt, said its research suggested £5,000 was the sum that could help young people get on the property ladder. 12 month's interest is a 6% deposit. A 1% deposit in a falling market is ready made sub prime. 8 hours ago, Huggy said: I wish they would stop misusing that word. Annoys me almost as much as "homeowner", which, I guess, will be the grand title the suckers who get these 99% mortgages will be awarded with by others in the cult. i.e. help the condemned person up the steps to the gallows Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted March 27 Share Posted March 27 Here is a question. Best answer gets a gold star. If demand for housing was so high (and the country getting more wealthy) why do the banks compete with each other to continue lowering rates and minimizing deposits? Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted March 27 Share Posted March 27 4 minutes ago, The Angry Capitalist said: Here is a question. Best answer gets a gold star. If demand for housing was so high (and the country getting more wealthy) why do the banks compete with each other to continue lowering rates and minimizing deposits? Because that nice young man in the bank is my friend and wants to help me. ⭐⭐⭐⭐⭐ Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted March 27 Share Posted March 27 4 minutes ago, DownwardSlopingPlateau said: Because that nice young man in the bank is my friend and wants to help me. ⭐⭐⭐⭐⭐ A silver star for wit. Quote Link to comment Share on other sites More sharing options...
DownwardSlopingPlateau Posted March 27 Share Posted March 27 1 minute ago, The Angry Capitalist said: A silver star for wit. OK, I'll shoot for gold: Because that nice young man in the Estate Agent is my friend and wants to help me. 🏡 Quote Link to comment Share on other sites More sharing options...
Stewy Posted March 27 Share Posted March 27 15 minutes ago, The Angry Capitalist said: Here is a question. Best answer gets a gold star. If demand for housing was so high (and the country getting more wealthy) why do the banks compete with each other to continue lowering rates and minimizing deposits? Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted March 27 Share Posted March 27 1 minute ago, DownwardSlopingPlateau said: OK, I'll shoot for gold: Because that nice young man in the Estate Agent is my friend and wants to help me. 🏡 A good contender. Will wait for more submissions. Quote Link to comment Share on other sites More sharing options...
The Angry Capitalist Posted March 27 Share Posted March 27 1 minute ago, Stewy said: Is that from the BOE or the Tory party? Quote Link to comment Share on other sites More sharing options...
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