Saturday, Sep 16, 2006

When will the madness stop?

thisismoney.co.uk: The rise of the more-gages

The mortgage industry has responded to the difficulties facing first-timer buyers with 100% or more mortgages, the latest lender being Coventry Building Society, which is offering borrowers 125% of the value of their home.

Posted by uncle chris @ 10:35 AM (531 views)
Add Comment
Report Article

5 Comments

1. the bald man said...

This is a typical example of irresponsible lending practise. Why are people so desperate to lock into this level of debt?

Saturday, September 16, 2006 06:24PM Report Comment
 

2. Bryan said...

Think it's because of all the VI spin and the likes of Kirsty & Phil on the TV that some people think the only direction for house prices is up and they will be in positive equity within a month of buying.

Saturday, September 16, 2006 09:52PM Report Comment
 

3. bidin'matime said...

It's all part of the bubble mentality - borrow as much as you can to invest as much as you can, whatever the real value.

The lenders should know better.

Saturday, September 16, 2006 10:07PM Report Comment
 

4. European-bear said...

best thing to do with a 125% mortgage is to piut the 25% in a Swiss bank account, hand the keys back to the bank and dissappear. Illegal certainly, but seems and easy way to say fleecing 50 grand off Coevntry Buiding Society! And bound to happen no doubt!

Sunday, September 17, 2006 04:01PM Report Comment
 

5. European-bear said...

best thing to do with a 125% mortgage is to piut the 25% in a Swiss bank account, hand the keys back to the bank and dissappear. Illegal certainly, but seems and easy way to say fleecing 50 grand off Coevntry Buiding Society on a 200 grand mortgage! And bound to happen no doubt!

Sunday, September 17, 2006 04:02PM Report Comment
 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies