Tuesday, February 26, 2008
New product for FTB’s
95% FTB mortgage
Not all mortgage companies are restricting lending, as i said the competition for business is still there...
Posted by greenbay @ 06:35 AM (848 views)
6 thoughts on “New product for FTB’s”
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Stevie Dee says:
lol.. greenbay… you’re funny.. seriously.. like the man behind the curtain in the “wizard of oz”
Sold My Soul To The Never Never Never says:
170K house over the road just been rented out over the road from me for £600 a month. £170K x 5.34 fixed rate mortgage = £756.50 interest only payment. GREENBAY BEFORE POSTING – ATTEMPT TO DO THE MATHS – BUY TO LOSE IS THE MANTRA NOW!!!
Bricking It says:
Seems like a great deal. What’s the catch?
techieman says:
Fair comment GB – Hey i’ve just noticed same initials as Gordon Brown…..Gordon is that really you?
two points though:
“Post Office Mortgages are provided in conjunction with Bristol and West, the Bank of Ireland’s lending arm. As a responsible lender, the Post Office applies strict lending criteria and enforces appropriate checks before an offer is made. ”
Although it doesnt say what the income multiples are it does say (FAQ?):
“How much can I borrow?
We take a number of factors into account when deciding how much we can lend you, from your income to the value of your property. At the same time, you need to think carefully about how much you can realistically afford.”
Do you know what the multiples are?
hpwatcher says:
NOT exactly the same as a 125% mortgage though is it? And only 1?
The game is up Greenbay, admit it. Certain landlords have had a few good years, and – due to their greed & desire to exploit others – effectively wrecked the housing market for almost everyone. But the times are changing.
techieman says:
hpwatcher- i dont understand why its important for Greenbay to admit it – i mean if his view is that we will never have falls in hps then thats his view. I couldnt really care less what his view is, and im open to any bull that wants to could convince me of it. Having said that i dont really understand why its important for Greenbay to prove he is right. (unless he is trying to convince himself – if thats the case then again thats up to him).
If he can and wants to provide some support for a bullish argument thats fine. Basically the point is we have had a approx 20 year cycle in property (which we have had going back centuries excluding the WWs). I advocate that you buy at the bottom of the cycle and sell at the top. Alternatively (if a speculator) you get in near the bottom and get out near the top. IF you are lucky (and it is luck) to get out at the Very top then fair dos. If however you cant recognise there is a top or the cycle AND that is the market you invest in – then really you deserve what you get. If i trade a market and dont know enough about it, and i am on the wrong side of a limit move then i’ve only myself to blame!!!