Current 95% First Time Buyer Mortgages
Comments
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If the banks and BS's have learnt anything it's that 100% or more mortgages are what got us in this critical financial state that we now find ourselves in. Statistically the higher loan to value mortgages the greater the chance of the recipient defaulting on the loan. The only way to regain some sanity in the housing market is for to keep deposits at least at 10% and some rigid form of investigation into the applicants financial standing. If that sounds hard then it's what used to be the case pre the 1980's. It is generally believed that the relaxation of these 'rules' was the major cause of the crisis we will have to shoulder for the next decade. so...save every penny for the deposit and wait until house prices bottom in a couple of years. My opinion, for what it's worth, is that the majority of houses are at least 10/15% overvalued.0
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This rate doesn't exist. I have just called Natwest and the deals on their website are currently upto date.
Where did you get this information from?
its written on my agreement paper, 5yr fix 5.49% till 290614 85% LTV.
Call the mortgage line i got this rate on Wednesday morning of this week.0 -
If the banks and BS's have learnt anything it's that 100% or more mortgages are what got us in this critical financial state that we now find ourselves in. Statistically the higher loan to value mortgages the greater the chance of the recipient defaulting on the loan. The only way to regain some sanity in the housing market is for to keep deposits at least at 10% and some rigid form of investigation into the applicants financial standing. If that sounds hard then it's what used to be the case pre the 1980's. It is generally believed that the relaxation of these 'rules' was the major cause of the crisis we will have to shoulder for the next decade. so...save every penny for the deposit and wait until house prices bottom in a couple of years. My opinion, for what it's worth, is that the majority of houses are at least 10/15% overvalued.
I dont think the current state has a a massive bearing on high LTV, more Banks diverting into high risk income streams in different countrys, namely America.
A number of leadig Economists are starting to call the bottom of the market, waiting 2 years does not sound Ideal in my opinion!0 -
Defaulting on a Loan, probably has a massive bearing on someones abilty to meet the Mortgage Payment - Unemployment has risen DRAMATICALLY over the last 6-12 months - Unemployment does not just effect those with High loan to Values.........0
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I'm glad I bought in 2005 with a 40% deposit - but then I was 38 at the time!0
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did you ring yorkshire bank re the 95% deposit as they are not advertising i ton their website0
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i must be blind all i can see is 90% on the website0
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