Friday, February 29, 2008

BTL gone! House prices gone! It is the curse of the “fiinnannciall llleevveragge”

Buyers who do not have 10% deposits are left out in the cold

You remember those BTL [email protected] repeating the mantra "the power of the fiinnannciall llleevveragge" AAHHHAHAH now it is the curse!! Divide a large number by a small number, what you get is a mess! Prices will fall like leaves in autumn!

Posted by confused76 @ 06:40 PM (1160 views)
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4 thoughts on “BTL gone! House prices gone! It is the curse of the “fiinnannciall llleevveragge”

  • So Lloyds TSB must be expecting a 10% fall in prices.

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  • “It said that about £1.7 billion of mortgages on its books was to borrowers with deposits of 5 per cent or less.” So house prices only have to fall 5% for those mortgages to go into of negative equity.

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  • @Happyrenterz,

    If the (Lloyds/TSB) borrowers purchased in (say) Feb 2007, then they will already be sitting on a paper increase of 2.7% (Nationwide).

    Bradford & Bingley have moved their 110% mortgage banner off the homepage. 100% mortgages are still quoted. I noticed their shares spiked on Friday – it seems there are bid rumours….

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  • “it seems there are bid rumours….”

    That’ll be the same ‘company’ that took over Northern Rock?

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