hpc-craig Posted February 1, 2008 Share Posted February 1, 2008 HI, I'm not sure if you saw this on ITV news this evening, but apparently Glasgow is the UK's most mortgaged city with of 94.5% of the property's value still owed to the bank (presumably different to LTV if people have been mking repayments???) Motherwell tops this (is a town though) at 95%. Most mortgaged in England is Woolwich at 91% and Birmingham and Nottingham have similar figures. Those are some pretty scary figures. What struck me most about the piece was that they said 'These places are most likely to fall into Negative Equity first'. I haven't heard anything like that on the TV before now. Is available online here: http://www.itv.com/News/Articles/Glasgow-i...gaged-city.html Quote Link to comment Share on other sites More sharing options...
FLASH_2007 Posted February 2, 2008 Share Posted February 2, 2008 HI,I'm not sure if you saw this on ITV news this evening, but apparently Glasgow is the UK's most mortgaged city with of 94.5% of the property's value still owed to the bank (presumably different to LTV if people have been mking repayments???) Motherwell tops this (is a town though) at 95%. Most mortgaged in England is Woolwich at 91% and Birmingham and Nottingham have similar figures. Those are some pretty scary figures. What struck me most about the piece was that they said 'These places are most likely to fall into Negative Equity first'. I haven't heard anything like that on the TV before now. Is available online here: http://www.itv.com/News/Articles/Glasgow-i...gaged-city.html Remortgaging is what is going to make this crash several times worse than the last one. Presumably a majority of people in these towns must have taken out significant amounts of equity from their property for the loan to value ratios to be this high as many would have owned their properties for years. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted February 2, 2008 Share Posted February 2, 2008 doesnt glasgow have the highest number of benefit claimants in the uk ? so these mortgages are highly likely to be btl ones. without knowing, these facts are inconclusive. Quote Link to comment Share on other sites More sharing options...
ZeroSumGame Posted February 2, 2008 Share Posted February 2, 2008 ...............................................................Is available online here: http://www.itv.com/News/Articles/Glasgow-i...gaged-city.html This is a two sentence fluff piece. What does that article say ? Nonsense. One paragraph unfounded tosh ! :angry: Quote Link to comment Share on other sites More sharing options...
Goldfinger Posted February 2, 2008 Share Posted February 2, 2008 The streets will burn. In particular in Scotland. Because there has never been a crash before. Quote Link to comment Share on other sites More sharing options...
crash2006 Posted February 2, 2008 Share Posted February 2, 2008 get ready for banks calling mortgage holders offering them to buy back the mortgage at a cheaper rate. Quote Link to comment Share on other sites More sharing options...
Daleroxxu Posted February 2, 2008 Share Posted February 2, 2008 What are you talking about? Glasgow is the call centre capital of Europe!!!!! A city full of just-above-minimum wage earners in secure call centre employment will have those 95%LTV mortgages paid off in no time. Quote Link to comment Share on other sites More sharing options...
Mr Yogi Posted February 2, 2008 Share Posted February 2, 2008 I watched this piece on the news last night and was stunned. They were telling us that in huge swathes of the country the average mortgage debt was over 90% LTV Yet I believe nearly half of all homes have no mortgage at all. Either this crash is going to be of cataclysmic proportions or ITN have got their figures cocked up! This news item cheered up Mrs Yogi no end. At around 10% LTV we're rich! Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted February 2, 2008 Share Posted February 2, 2008 The streets will burn. In particular in Scotland. Because there has never been a crash before. More 'Gorbal warming' ? Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted February 2, 2008 Share Posted February 2, 2008 I watched this piece on the news last night and was stunned. They were telling us that in huge swathes of the country the average mortgage debt was over 90% LTVYet I believe nearly half of all homes have no mortgage at all. Either this crash is going to be of cataclysmic proportions or ITN have got their figures cocked up! This news item cheered up Mrs Yogi no end. At around 10% LTV we're rich! They must not be including properties that don't have mortages on them. This distorts the figures because Glasgow probably had less owner occupiers than most places in the UK. Quote Link to comment Share on other sites More sharing options...
Little Professor Posted February 2, 2008 Share Posted February 2, 2008 I believe Sighthill in Glasgow was the most mortgaged ares, with an average ratio of 94.5% LTV. I didn't know they had any mortgageable properties in Sighthill - last time I looked it was just a sea of high-rise council blocks, populated by burberry-wearing drug addict neds (chavs) and a contingent of asylum seekers for them to blame for all their woes. The area's a complete war zone. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted February 2, 2008 Share Posted February 2, 2008 The streets will burn. In particular in Scotland. Because there has never been a crash before. ...I seem to remember Aberdeen going down when there was an oil crash....could have been any time in the last few decades...... Quote Link to comment Share on other sites More sharing options...
Little Professor Posted February 3, 2008 Share Posted February 3, 2008 Oh dear: Sunday Mail, Feb 3 2008By Kevin Turner Buyers Queue 22 Hours For New House In Estate A COUPLE queued overnight in sub-zero temperatures to land the home of their dreams - on a notorious housing scheme. Nigel and Caroline Gregory waited for 22 hours to get a house in Stirling's Raploch area, which is having a £120million makeover. They were one of the first in the queue to buy a £175,000 four-bedroom villa. Economist Caroline, 27, and pensions administrator husband Nigel, 28, of Fallin, Stirling, took turns to wait in line. The houses were sold on a first-come-first-served basis yesterday. Caroline, mum of Adam, two, and Hannah, four months, said: "We missed out on our favoured plot by an hour because we were second in the queue. "We expect to move in this time next year. Raploch is on the up." The scheme was once blighted by fearsome drug dealer Mags Hainey and her criminal clan. It had high levels of youth crime and unemployment. Over the next three years 900 new homes and three new schools will be built. At the moment, the average cost of a house in Raploch is £28,000. http://www.sundaymail.co.uk/news/newsfeed/...78057-20307410/ Quote Link to comment Share on other sites More sharing options...
Krackersdave Posted February 3, 2008 Share Posted February 3, 2008 Oh dear:http://www.sundaymail.co.uk/news/newsfeed/...78057-20307410/ All built on the most picturesque FLOOD-PLAIN in Stirling... It's not called RapLOCH for nothing.... Quote Link to comment Share on other sites More sharing options...
Brett Posted February 3, 2008 Share Posted February 3, 2008 I believe Sighthill in Glasgow was the most mortgaged ares, with an average ratio of 94.5% LTV.I didn't know they had any mortgageable properties in Sighthill - last time I looked it was just a sea of high-rise council blocks, populated by burberry-wearing drug addict neds (chavs) and a contingent of asylum seekers for them to blame for all their woes. The area's a complete war zone. Of course, anybody who complains about asylum seekers is a ned, Daily Mail reader, bla bla bla. Tw*t. Quote Link to comment Share on other sites More sharing options...
Scunnered Posted February 3, 2008 Share Posted February 3, 2008 Nigel and Caroline Gregory waited for 22 hours to get a house in Stirling's Raploch area, which is having a £120million makeover. Eek! The Raploch! That was a really scary area for many, many years. They do seem to have been putting a lot of effort into trying to improve it recently though. I think they've tried to get rid of some of the more problematic residents, and there's been a lot of building recently (I think they may be trying to drag the area upmarket by moving in some middle-class people). It's a few years since I last saw what was going on, so I don't know what how the place is looking these days. Still, I'm not at all sure that I'd want to pay £175,000 to live there, even if you do get four bedrooms. Quote Link to comment Share on other sites More sharing options...
Bardon Posted February 3, 2008 Share Posted February 3, 2008 Eek! The Raploch! Longshanks first coined this phrase long before after receiving the news of the humiliating defeat at Old Stirling Bridge. Surrey still hesitated, during which the grotesquely fat Hugh de Cressingham, tax-collector of Scotland for Edward said, "Why de we thus protract the war, and waste the Kings Treasure? Let us fight, it is our bonded duty". Surrey, contrary to good judgment, yielded, and by dawn of the day the English began to cross the bridge; Wallace heard the tidings of joy. When one half of the Englishmen were over, Wallace advanced, having previously sent a strong detachment to hold the ford and their archers kept shooting fast and surely from the rear, and caused the English forces to waver and recoil. Confusion ensued on the part of the English, and discipline was lost. The half-formed columns of the English on the north bank of the river gave way, and many of the heavy-armed cavalry were driven into the river and drowned. Surrey, sought to retrieve the fortune of the day by sending across, at a moment when the bridge was open, a strong reinforcement with his own banner; but, unable to form amid the recoiling masses of their own infantry, they only added to the confusion and slaughter, being assailed on every side by Scottish spearmen. The Scottish joined in a scene of barbarous slaughter on the fleeing English. Surrey, after making a final attempt to rally his beaten soldiers in the Torwood, on being assailed by Wallace again, resumed his flight to Berwick, and thence sent to his master the news of the humiliating defeat at the Rapoch. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted February 3, 2008 Share Posted February 3, 2008 Longshanks first coined this phrase long before after receiving the news of the humiliating defeat at Old Stirling Bridge.Surrey still hesitated, during which the grotesquely fat Hugh de Cressingham, tax-collector of Scotland for Edward said, "Why de we thus protract the war, and waste the Kings Treasure? Let us fight, it is our bonded duty". Surrey, contrary to good judgment, yielded, and by dawn of the day the English began to cross the bridge; Wallace heard the tidings of joy. When one half of the Englishmen were over, Wallace advanced, having previously sent a strong detachment to hold the ford and their archers kept shooting fast and surely from the rear, and caused the English forces to waver and recoil. Confusion ensued on the part of the English, and discipline was lost. The half-formed columns of the English on the north bank of the river gave way, and many of the heavy-armed cavalry were driven into the river and drowned. Surrey, sought to retrieve the fortune of the day by sending across, at a moment when the bridge was open, a strong reinforcement with his own banner; but, unable to form amid the recoiling masses of their own infantry, they only added to the confusion and slaughter, being assailed on every side by Scottish spearmen. The Scottish joined in a scene of barbarous slaughter on the fleeing English. And this was just last week? Must have had a bit of an effect on houseprices. Surrey, after making a final attempt to rally his beaten soldiers in the Torwood, on being assailed by Wallace again, resumed his flight to Berwick, and thence sent to his master the news of the humiliating defeat at the Rapoch. Quote Link to comment Share on other sites More sharing options...
Leodhasach Posted February 3, 2008 Share Posted February 3, 2008 Of course, anybody who complains about asylum seekers is a ned, Daily Mail reader, bla bla bla. Tw*t. Well, no. But in this case they were neds. The Afghanis in Sighthill said it was worse than Afghanistan, and I believe them. Apparently, the asylum seekers <whiny glasgow ned voice> "get pure hunners of fridges n' teevees n' that aff the cooncil" </whiny glasgow ned voice>. No, they get the same benefits as you - they just don't pish it up the wall on Frosty Jack cider, Mayfair blue and big Berghaus jaikets. 99% of spongers in Glasgow are local (although a good proportion of them might describe themselves as Irish on the basis of a great-grandfather from da ol country) Quote Link to comment Share on other sites More sharing options...
Little Professor Posted February 4, 2008 Share Posted February 4, 2008 Of course, anybody who complains about asylum seekers is a ned, Daily Mail reader, bla bla bla. Tw*t. Sorry, but for some reason I highly doubt that any of the neds reads the Daily Mail Quote Link to comment Share on other sites More sharing options...
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