Frank Hovis Posted December 27, 2007 Share Posted December 27, 2007 More than 40% fall. How is this not a crash? Quote Link to comment Share on other sites More sharing options...
Guest Mr Parry Posted December 28, 2007 Share Posted December 28, 2007 You are either a wind up merchant or a nasty little facist Wind up merchant. Good too. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted December 29, 2007 Share Posted December 29, 2007 More than 40% fall.How is this not a crash? Well............... needs to go down 60% MINIMUM just to get to any sense of normality and sense...... Quote Link to comment Share on other sites More sharing options...
Guest happy? Posted December 29, 2007 Share Posted December 29, 2007 ...To go back to my original post here - As far as most sensible people are concerned, borrowing at ANYTHING over 3.5 x salary p.a. IS SUB-PRIME!!!!!!!!! -- .............and I will not budge on this.... I would only add 3.5x salary and 95% LTV. Given that twice in the last twenty years we have witnessed exactly the same phenomenon (under both Labour and Conservative administrations) - with all the destructive costs to families, communities, and the economy which inevitably follows in the wake of House Price Inflation - how do we prevent it happening again? Quote Link to comment Share on other sites More sharing options...
eric pebble Posted December 29, 2007 Share Posted December 29, 2007 I would only add 3.5x salary and 95% LTV.Given that twice in the last twenty years we have witnessed exactly the same phenomenon (under both Labour and Conservative administrations) - with all the destructive costs to families, communities, and the economy which inevitably follows in the wake of House Price Inflation - how do we prevent it happening again? I agree with you wholeheartedly 'happy?'........ Quote Link to comment Share on other sites More sharing options...
domo Posted December 29, 2007 Share Posted December 29, 2007 (edited) Sorry mate -- it is more like 60-70%. The "average" price of a property in the UK is $250k --- you're not going to tell me the average person earns [£250k/3.5] £71.72k per anum ---- which --- if you're lending RESPONSIBLY --- is what you have to earn to buy the "average" property!!!!! WHAT A FARCE!!!!!! As far as most sensible people are concerned, borrowing at ANYTHING over 3.5 x salary p.a. IS SUB-PRIME!!!!!!!!! Well its YOUR subprime, but the term subprime is mearly a measure of percieved risk in the industry. We well know on here that very lax lending standards extend across over the whole consumer credit complex. Go back a few decades and everythings subprime by standards of the past. Edited December 29, 2007 by domo Quote Link to comment Share on other sites More sharing options...
eric pebble Posted December 29, 2007 Share Posted December 29, 2007 Well its YOUR subprime, but the term subprime is mearly a measure of percieved risk in the industry. We well know on here that very lax lending standards extend across over the whole consumer credit complex. Go back a few decades and everythings subprime by standards of the past. I'm trying to understand your post domo...... can't quite figure out what you're saying...?!? Quote Link to comment Share on other sites More sharing options...
silver surfer Posted December 29, 2007 Share Posted December 29, 2007 (edited) As far as most sensible people are concerned, borrowing at ANYTHING over 3.5 x salary p.a. IS SUB-PRIME!!!!!!!!! -- Eric, being so rigid sets you up for a fall. Consider two borrowers, Mr A and Mr B. Mr A is a young and newly qualified doctor, he's in good health and he wants a ten year repayment mortgage on a freehold house in a well established neighberhood. He has a 50% deposit. Unfortunately he wants to borrow 3.6 times his salary, so by your definition he's sub-prime despite his excellent prospects and large deposit on a solid home. Mr B is a 70 year old smoker who has a part-time job in the stock room at F.C.U.K. Because he's only been working there six months he has virtually no employment security. He'd like a 100% interest only mortgage on a derelict leasehold mobile home that resides on a floodplain. But because he's looking to borrow only 3.4 times his salary presumably you'd judge him "prime". I don't think so. Edited December 29, 2007 by silver surfer Quote Link to comment Share on other sites More sharing options...
jonewer Posted December 29, 2007 Share Posted December 29, 2007 The British Bankers Association (BBA) said that new mortgage approvals for house purchases stood at 44,811, up from 44,321 in October. According to the beeb.... So who is correct? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.