Some people seem positive...

lostinrates

http://www.uploadlibrary.com/rightmovenews/SeeMoreUK_newsletter/Seemore_Feb09/Seemore_London/ConsConLonFeb09.html?utm_source=londonnewsletter&utm_medium=email&utm_campaign=Feb09

For those, like, me who don't like to click links its the Rightmove newsletter, with details of a survey saying people are excited about buying and selling in London.

I wish I had their enthusiasm!

ad9898_3

Until they get their mortgage refusal.

ad44downey

Like lambs to the slaughter.........hopefully the banks will protect them from their folly and not lend them any money

Dan:_4

ad9898 wrote: »

Until they get their mortgage refusal.

People should ensure they have an excellent credit rating to avoid this.

ad44downey

It doesn't matter what someone's credit rating is like. Banks aren't gong to lend someone 10 times their salary any more to buy a grossly overpriced pile of bricks.

ad9898_3

Dan: wrote: »

People should ensure they have an excellent credit rating to avoid this.

I agree Dan, but some people can't even pay their CC's on time.

Dan:_4

ad44downey wrote: »

It doesn't matter what someone's credit rating is like. Banks aren't gong to lend someone 10 times their salary any more to buy a grossly overpriced pile of bricks.

That would be sub-prime. The majority do not require this.

Dan:_4

ad9898 wrote: »

I agree Dan, but some people can't even pay their CC's on time.

and that's exactly what people need to start getting under control if they want any chance of getting a mortgage in the future.

chucky

i've been offered up to 4.8 x my salary with Halifax - i've only gone up to a sensible 3.8 x salary instead.

as Conrad said yesterday sub-prime people will not be offered a decent mortgage product.

also anyone looking at 90% will also find it hard to get a mortgage due to the stringent criteria.

this is a good thing - it avoids putting people in unhealthy financial situations

ad9898_3

chucky wrote: »

i've been offered up to 4.8 x my salary with Halifax - i've only gone up to a sensible 3.8 x salary instead.

as Conrad said yesterday sub-prime people will not be offered a decent mortgage product.

also anyone looking at 90% will also find it hard to get a mortgage due to the stringent criteria.

this is a good thing - it avoids putting people in unhealthy financial situations

Conrad's post yesterday was very good, should be a 'sticky'

ad44downey

It's the chucky and Dan: double act again I see.......;) Funny that.....