Tuesday, September 30, 2008
From the property porn channel
Buy-to-let mortgage deals nosedive
One in 10 mortgages has been pulled during the past 24 hours following the nationalisation of Bradford & Bingley, figures showed. The number of buy-to-let loans has nosedived, with just 481 different deals now available, a 27% fall on Monday's figure of 662, financial information group Moneyfacts said.
Posted by whostolemyendowment @ 06:33 PM (914 views)
3 thoughts on “From the property porn channel”
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planning4acrash says:
OMG, there will be NO finance at all by November, with ALL those ending a fixed deal ending up paying full LIBOR tracking tracker mortgages. Note that LIBOR appears high but is artificially suppressed. That cannot happen for ever. It will soar pretty soon, like a beachball. I see LIBOR going in the 100’s or 1000’s of % overnight once the banking system grinds to a halt. It has happened before, I believe that happened in Scandanavia during their banking crisis.
malct says:
yup it’s a biggy
but what is perception?
planning4acrash says:
Hmm, good point. From our perspective, the crash is great, so long as the free markets create the new order, bypassing the new world order, and, so long as we get fed and don’t loose all our wealth in the upheaval.
It really is looking like a total collapse of western capitalism by the end of night 5 of the Mayan Calendar, which will be Nov 13th, Malct, S2R1 may have the last laugh!