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OLDFTB

There Goes Nationwides 100% Ltv

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Nationwide culls mortgage range in further defensive move

http://www.citywire.co.uk/personal/-/news/....aspx?ID=299243

‘Nationwide has tightened its lending criteria to make sure the lending we do is at the low risk end,’ said Matthew Wyles, chairman of the Mortgage Works.

The building society had seen a ‘polarisation’ of demand and was now in the position to ‘pick and choose’ who it lent to, according to Wyles.

Kind of infers that they didn't bother picking & choosing before the CC?

:lol:

Edited by OLDFTB

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First time landlords looking for a buy-to-let mortgage will be turned away from the Nationwide after Friday.

Discrimination!!! Its their pension!

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For me the most interesting part is The mortgage works, owned by Nationwide. They have announced a max of 75%LTV on buy to let. They are a very influencial lender, it's odds on that others will follow.

Also I heard, straight from the horses mouth, that Capital Home Loans have no funding, sacking about a third of their work force - you heard it here first (unless it turns out to be rot in which case forget about it)

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I'm using a new block of 13 luxury flats on my street as a bellweather. They've been up for sale now for two months and when I drove past at 8.30am Sunday morning the carpark was completely empty - not a single vehicle, which says to me zero occupancy. And this is in a leafy area on the London/Surrey border, easy walk to the railway station (eg 5 mins) and 25mins on the train to London Bridge - gateway to that fabulous money machine - the city!

While under construction they were advertised as £295K-£305K each. Now the billboard says, from £265K (stamp duty paid!) What they'd actually let you have one for I'm not sure. I don't think I'd be happy paying more than £60K.

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  • 292 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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