crap deals for 90% LTV people

manikm

baby_boomer wrote: »

Sensible, not scandalous.

We don't want any more bank collapses than is absolutely necessary.

as if banks are gonna collapse!!

get a grip mate

herbiesjp

haha, sounds like something a very wise old owl would say.

Making assumptions again

It is something a wise mortgage adviser would say :rolleyes:

baby_boomer

manikm wrote: »

as if banks are gonna collapse!!

Are you Rip Van Winkle?

Let's try another tack.

The government has made a £200bn line of liquidity available to the banks [that's the equivalent of 2p on income tax for the next 30 years] , but in return is requiring them to increase their capital ratios - which they can only do from profits in the current environment.

So the government is effectively requiring the banks to make more money from mortgage deals and other business.

manikm

baby_boomer wrote: »

Are you Rip Van Winkle?

Let's try another tack.

The government has made a £200bn line of liquidity available to the banks [that's the equivalent of 2p on income tax for the next 30 years] , but in return is requiring them to increase their capital ratios - which they can only do from profits in the current environment.

So the government is effectively requiring the banks to make more money from mortgage deals and other business.

LOL, ive heard of !!!!!! van dyke .....

i just had to look up rip van winkle - poor bloke!
http://en.wikipedia.org/wiki/Rip_Van_Winkle

Heyman_2

manikm wrote: »

I feel very lucky that i managed to get the HSBC lifetime tracker at + 0.79 above base. (was avail until 2 weeks ago for 90% now only 75% ltv customers)

Since the rate cut, customers on 90% LTV (me) are being offered deals like +2.5 above base, putting them on about 7.00% or worse....

Scandalous!!!

I got that deal too, and I was also very close to 90% LTV.

I don't agree with 'Scandalous!!!' though! It's just very much a sign of the times, as the banks don't have a lot of capital and can't take the risk on a 90% LTV value with average prices dropping by 1-2% every month, and no end to these drops in sight.

I think 'worrying' would be a better word, as there is undoubtedly a timebomb ahead with all the people on 2 and 3 year fixed rate deals taken out in 2005 -2006, coming to the end of their deals, all of whom are likely to be in or close to negative equity.

neverdespairgirl

manikm wrote: »

as if banks are gonna collapse!!

get a grip mate

Northern Rock?
Bradford and Bingley?
Kaputhing Edge?
Landisbank?
Lehamn Brothers?
Bear Sterns?

manikm

neverdespairgirl wrote: »

Northern Rock?
Bradford and Bingley?
Kaputhing Edge?
Landisbank?
Lehamn Brothers?
Bear Sterns?

er it was a joke....i guess you need to be fitted with a sense of humour unit to understand them.

dont worry about it mr serious!

SingleSue

Actually I have a sense of humour....but I didn't see it as a joke either. I did get rather incredulous that someone could actually say that though and thought the same as others - where have you been?

Saying that though, phew, you was very lucky to get in just before they changed everything around .

baby_boomer

SingleSue wrote: »

Saying that though, phew, you was very lucky to get in just before they changed everything around .

Can we assume that IS a joke ?

He'll need to be lucky with a 90% LTV mortgage. Best not to have any plans to move in the next five years with negative equity just around the corner.

Gorgeous_George

manikm wrote: »

er it was a joke....i guess you need to be fitted with a sense of humour unit to understand them.

dont worry about it mr serious!

I think that you will find that neverdespairGIRL is more like a Mrs Serious.

GG