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Bradford And Bingley To Start Adverse Credit Mortgages

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I spoke to a friend whos wife is high up at Bradford and Bingley and they had a meeting recently about relaxing their lending criteria to allow ccj's.

Considering B&B are quite strict lenders this seems quite a move.

I think the lending is drying up.

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Considering B&B are quite strict lenders this seems quite a move.

really?

i was under the impression that B&B was quite a high risk organisation with high exposure to BTL

they bought a loan book from GMAC - i bet the septics were glad to dump it on them. :P

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Nationwide announced last week they are going to see if they can get more sub-prime business--and yes, also CCJs. Things are getting very desparate indeed. :D

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Nationwide announced last week they are going to see if they can get more sub-prime business--and yes, also CCJs. Things are getting very desparate indeed. :D

Anyone got any figures on how many people taking on subprime mortgages get repossessed compared to the global average?

It does sound like a recipe for disaster. People who have been shown to be unable to manage their finances being given expensive mortgages.

Billy Shears

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Nationwide announced last week they are going to see if they can get more sub-prime business--and yes, also CCJs. Things are getting very desparate indeed. :D

This ties in with my question the other day about whether Banks and Building Societies would tighten up their lending criteria if interest rates rise. I only had one reponse but from reading about this kind of desperate lending I now have an answer.

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It beggars belief that they would look to this sector to flog mortgages. I guess they've done the maths and figure that if they charge a certain rate and cover their ass with a suitable deposit, they can exploit this sector to deliver a profit.

There's no consideration of the morality of doing this, i.e. the misery that will result from reposessions, lost deposits etc.

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http://www.ifaonline.co.uk/public/showPage.html?page=329570

Nationwide considering sub-prime mortgages – 19th May Friday 19th May 2006: 09:54
By Matthew West BRITAIN’S BIGGEST building society, Nationwide, is considering offering mortgages to people with credit problems as part of a planned push aimed at regaining its position of strength in the home loans market, reports the Guardian.

:o

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  • 338 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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