topliner Posted September 15, 2007 Share Posted September 15, 2007 You reckon? There's an example here:http://www.northernrock.co.uk/intermediaries/policyInfo.asp of them willing to lend 648k to a couple earning 120k on a Together mortgage. edit: though I think the maximum unsecured part is 30k so the maximum at 125% would be 125k. At 600k it would effectively be a 100% LTV mortgage. Nope, at £600K they will only lend 90% that's £540K plus a further £30K unsecured so that is £570K, that's still 95% Quote Link to comment Share on other sites More sharing options...
@contradevian Posted September 15, 2007 Share Posted September 15, 2007 It looks to me like NR is about to become a wholly-owned subsidiary of HM government! Precisely. State sponsored BTL speculation. Their only source of funds for BTL mortgages is either deposits (rapidly diminishing if the queue's are anything to go by) and the BoE. Quote Link to comment Share on other sites More sharing options...
meow Posted September 16, 2007 Share Posted September 16, 2007 Precisely. State sponsored BTL speculation. Their only source of funds for BTL mortgages is either deposits (rapidly diminishing if the queue's are anything to go by) and the BoE. Won't this be the way in which cheap btl properties come under ownership of the government to be subsequently rented out by local authorities? Solves the council house problem cheaply... Cheeky! Quote Link to comment Share on other sites More sharing options...
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