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Realistbear

Lenders In N I Helping Ftbs With 100% Loans

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http://www.belfasttelegraph.co.uk/news/sto...sp?story=691737

First-time buyers with bigger loans

By Helen Carson

19 May 2006

More first time home-buyers are taking out 100% mortgages - but there are drawbacks, warns an Ulster estate agent.
An Ulster broker recently reported a 50% rise in the number of consumers taking out loans for 100% of their property's value.
"The take-up of 100% mortgages is perhaps as much to do with increased marketing and confidence in Northern Ireland is high as it certainly seems there will be positive price growth in the short to medium-term," said estate agent Trevor Patterson of Optimum Real Estate.
"
But circumstances can change fast and could leave those who have stretched themselves too far in deep financial trouble
.

And at the top of the market.............................. :o

Edited by Realistbear

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How does it leave the borrower exposed, he has nothing in it.

100% loans leave the lender well and truly with his pants down, a fool and his money!!.

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Anyone labouring under the delusion that NI is cheap should think again. This property is in a nice suburb of Belfast, the sort of place lawyers, doctors etc would live.

Belfast

These are London/SE prices, to live in a place that effectively has no economy other than government jobs.

Scary.

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Anyone labouring under the delusion that NI is cheap should think again. This property is in a nice suburb of Belfast, the sort of place lawyers, doctors etc would live.

Belfast

These are London/SE prices, to live in a place that effectively has no economy other than government jobs.

Scary.

Im curious about this. Having lived in Northern Ireland all my life Im somewhat naive to prices in the rest of the UK.

Firstly, that is a top area of Belfast, highly exclusive.

Is there a general feeling that NI is getting too expensive, because house prices are flying at the moment. Houses throughout NI are selling at well over the asking price, many in Belfast are going for 15-30% over.

But whilst this is happening I cant get rid of the nagging feeling that all this could soon change. Opinions?

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  • 302 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?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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