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Debate House Prices
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CBS Offering BTL fixed at 3.99 for 5 Years
Comments
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It may well be a wind up but this kind of deal cannot be far away. It would make sense for lenders and could be tempting for borrowers.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Don't know why you all think it a wind up. I've got a CBS +0.75 lifetime tracker; no reason to think they weren't doing a similar deal for just 2 years on a BTL product. CBS did a lot of BTL products, in fact they still do quite a few.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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:embarasse :embarasse
Just checked, their BTL products are currently limited to a 5.34 variable and 6.89 fixed. So the new deal offered is a wind-up, the current deal could be true.
:embarasse :embarasseI'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
However, this is not a wind up.
http://news.bbc.co.uk/1/hi/business/7733964.stm
Bye, bye, BTL losers. How long can you keep servicing that massive debt while losing thousands every month?
Btw. I notice that rents are still dropping significantly. What happened to supply and demand? Oh yes, I remember now. No one wants your dingy little dwellings any more, there is so much else available.0 -
However, this is not a wind up.
http://news.bbc.co.uk/1/hi/business/7733964.stm
Bye, bye, BTL losers. How long can you keep servicing that massive debt while losing thousands every month?
Btw. I notice that rents are still dropping significantly. What happened to supply and demand? Oh yes, I remember now. No one wants your dingy little dwellings any more, there is so much else available.
Harsh! But saying that, no harm in a bit of bull fighting. No-one gets hurt anymore :P0 -
Oh I remember the days when I said to you that interest rates would be 3% soon and you wouldn't have any of it.
You might remember it, but I don't.
Perhaps a quote would refresh my memory, or is it possible that as usual you are arguing with me on the basis of your vivd imagination rather than what I actually said? :rolleyes:--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
It is getting fun around here, I reckon in the next couple of months we should be able to start our own 'Fight Club':D0
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However, this is not a wind up.
http://news.bbc.co.uk/1/hi/business/7733964.stm
Bye, bye, BTL losers. How long can you keep servicing that massive debt while losing thousands every month?
Btw. I notice that rents are still dropping significantly. What happened to supply and demand? Oh yes, I remember now. No one wants your dingy little dwellings any more, there is so much else available.
The first paragraph readsBetween 20% and 40% of buy-to-let (BTL)landlords will fall into negative equity if house prices keep on falling at their current rate, a report says.
My maths ain't bad. I suggest that if prices keep on falling at their current rate, eventually they will be worth 1p and all mortgage holders will be in negative equity.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0
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