uro_who Posted May 10, 2007 Share Posted May 10, 2007 two weeks ago I toyed with the idea of buying the sort of palatial mansion that a man of my standing should own. Obviously it entailed a huge mortgage. Then I worked out the stamp duty, insurance, life cover, blaa, blaa and at was clearly bonkers. I looked at keeping more of my deposit and increasing the mortgage and the nationwide gaily told me that they would lend me up to £850k (what??!!). 90% LTV, no problem. Then the 25 year rate was withdrawn (still not come back) and 10 year fix re-adjusted. Suddenly 85% LTV is the max. So my spending power (via borrowing) is reduced. More to come? Don't panic, I was never serious. Changing sentiments all around, rising interest rates, tightening credit, I wonder what might happen? Quote Link to comment Share on other sites More sharing options...
time Posted May 10, 2007 Share Posted May 10, 2007 You dont want to take on a mortgage that size. Quote Link to comment Share on other sites More sharing options...
DaggaDagga Posted May 10, 2007 Share Posted May 10, 2007 Is 85% LTV the max for all mortgages, or just the fixed rates? That's a very cautious LTV, severe credit tightening. 100% was just the minimum last year! Quote Link to comment Share on other sites More sharing options...
time Posted May 10, 2007 Share Posted May 10, 2007 Is 85% LTV the max for all mortgages, or just the fixed rates?That's a very cautious LTV, severe credit tightening. 100% was just the minimum last year! How can a 100% by the minimum LTV ? Quote Link to comment Share on other sites More sharing options...
uro_who Posted May 10, 2007 Author Share Posted May 10, 2007 You dont want to take on a mortgage that size. I don't want to take on a mortgage of any size! Especially one thats 3 times more than my rental without bringing any improvement in quality of life (including on costs). Quote Link to comment Share on other sites More sharing options...
bdon Posted May 10, 2007 Share Posted May 10, 2007 I don't want to take on a mortgage of any size! Especially one thats 3 times more than my rental without bringing any improvement in quality of life (including on costs). still big posters in the windows of some of the high streets - nice 100% mort and a picture of a paint bucket, and don't forget the natwest "challenge".... mind you - they are only posters Quote Link to comment Share on other sites More sharing options...
DaggaDagga Posted May 10, 2007 Share Posted May 10, 2007 (edited) How can a 100% by the minimum LTV ? You haven't heard of the 120% mortgages that were all the rage last year? A house and free money - just sign here. Oh, and uro who - who was the bank? Edited May 10, 2007 by DaggaDagga Quote Link to comment Share on other sites More sharing options...
time Posted May 10, 2007 Share Posted May 10, 2007 You haven't heard of the 120% mortgages that were all the rage last year? A house and free money - just sign here.Oh, and uro who - who was the bank? Fair point. Those deals are snuffed out today like candles in the wind. Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted May 10, 2007 Share Posted May 10, 2007 An independent mortgage place near my work has been boasting 125% LTV for yonks - I'll keep an eye on it Quote Link to comment Share on other sites More sharing options...
time Posted May 10, 2007 Share Posted May 10, 2007 An independent mortgage place near my work has been boasting 125% LTV for yonks - I'll keep an eye on it I call it "Dial a flight" syndrome. Great deals until you try to go for them, then their unavailable and offer you some crap instead. Quote Link to comment Share on other sites More sharing options...
DaggaDagga Posted May 10, 2007 Share Posted May 10, 2007 Aha - finally saw it was Nationwide in the thread title. Dur. Their website still says 10% deposit for anything. Either the website's old or it's more complicated. Perhaps it's a 15% deposit for large mortgages? Hey Time - I thought you'd quit and left. Fvck off, by the way You really shouldn't take notice of what people on here say. http://www.housepricecrash.co.uk/forum/ind...=47164&st=0 You really shouldn't take notice of what people on here say. Quote Link to comment Share on other sites More sharing options...
time Posted May 10, 2007 Share Posted May 10, 2007 Aha - finally saw it was Nationwide in the thread title. Dur.Their website still says 10% deposit for anything. Either the website's old or it's more complicated. Perhaps it's a 15% deposit for large mortgages? Hey Time - I thought you'd quit and left. Fvck off, by the way You really shouldn't take notice of what people on here say. http://www.housepricecrash.co.uk/forum/ind...=47164&st=0 You really shouldn't take notice of what people on here say. I had just lost a thousand pounds betting interest rates wouldnt rise (no change), I was feeling pretty vulnerable. Stella perked me as she always does, well her and her 3 sisters. I am back on form now. Quote Link to comment Share on other sites More sharing options...
DaggaDagga Posted May 10, 2007 Share Posted May 10, 2007 I had just lost a thousand pounds betting interest rates wouldnt rise (no change), I was feeling pretty vulnerable. Stella perked me as she always does, well her and her 3 sisters. I am back on form now. It's only a grand. Small change in the property world. My house usually gains that much in value in the time that it takes to have a dump. Quote Link to comment Share on other sites More sharing options...
time Posted May 10, 2007 Share Posted May 10, 2007 It's only a grand. Small change in the property world. My house usually gains that much in value in the time that it takes to have a dump. Quote Link to comment Share on other sites More sharing options...
bdon Posted May 10, 2007 Share Posted May 10, 2007 I had just lost a thousand pounds betting interest rates wouldnt rise (no change), I was feeling pretty vulnerable. Stella perked me as she always does, well her and her 3 sisters. I am back on form now. stella, chenin, nicotine = the three great muses. how simple they make life Quote Link to comment Share on other sites More sharing options...
uro_who Posted May 10, 2007 Author Share Posted May 10, 2007 stella, chenin, nicotine = the three great muses. how simple they make life Ah, and they lead to prostate problems, vasectomy(or reversal), and bladder cancer. And that helps to keep me in business. Quote Link to comment Share on other sites More sharing options...
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