Jump to content
House Price Crash Forum
Sign in to follow this  
gruffydd

Northern Rock Axes Best Deals

Recommended Posts

"The maximum anyone will be able to borrow from now on is 4.9 times income"

Have they learned anything at all lately??? 4.9 times income is really pushing the envelope of sensible borrowing (and lending).

And who do they think is going to take out a mortgage with them after recent events.... would you??

Share this post


Link to post
Share on other sites

Looks like Gordon sees NR as the bellwether for his miracle and its survival? IF NR sinks out he goes?

http://www.telegraph.co.uk/money/main.jhtm.../bcnrock109.xml

Northern Rock gets new taxpayer bail out
By Philip "Phil" Aldrick, Banking Correspondent
Last Updated: 11:11am BST 09/10/2007
Stricken mortgage lender Northern Rock has been granted a new taxpayer bail out to prop up its desperate finances until a bidder can be found.
In an unprecedented move, the Treasury has agreed to extend the guarantee in place for existing customer savings to all new deposits. Any individual will now be able to place millions of pounds with the bank, safe in the knowledge that the money has a 100pc Government guarantee.
The news saw Northern Rock shares jump more than 10pc to 193p in morning trading.
No other UK high street bank can offer protection for anything above the first £35,000 of a customer's deposit under the current financial services compensation scheme arrangement.

Share this post


Link to post
Share on other sites
Guest DissipatedYouthIsValuable
"The maximum anyone will be able to borrow from now on is 4.9 times income"

Have they learned anything at all lately??? 4.9 times income is really pushing the envelope of sensible borrowing (and lending).

And who do they think is going to take out a mortgage with them after recent events.... would you??

I heard the higher than average multiple defence on Radio 4 just now. Borrowing is SO cheap you see....

Similarly the use of gross income figures annoys me. Unless you're an anonymous cash-in-hander, what use is a gross income figure?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 349 The Prime Minister stated that there were three Brexit options available to the UK:

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.