2 million homeowners and 500,000 BTL'rs in NE if price falls hit 30%

Kenny4315

Ian_Griffiths_Halifax wrote: »

Is that all you can say? I thought it was a good example actually.

I can just see it now ... Rooney sitting in the brokers office now waiting to buy his 2 bedroomed terrace for £100k, at 100%, with the the bank querying the valuation report, with his £200k Aston outside and Coleen (or whatever she's called powdering her nose), if you can't see that it was a p8ss poor example, then there really is no hope for you. :rolleyes:

Ian_Griffiths_Halifax

Kenny4315 wrote: »

I can just see it now ... Rooney sitting in the brokers office now waiting to buy his 2 bedroomed terrace for £100k, at 100%, with the the bank querying the valuation report, with his £200k Aston outside and Coleen (or whatever she's called powdering her nose), if you can't see that it was a p8ss poor example, then there really is no hope for you. :rolleyes:

OK, lets say he wanted a £1 million pound house. What would you say to that?

It's all about affordability. That's what he was saying or are your thick?

Kenny4315

Ian_Griffiths_Halifax wrote: »

OK, lets say he wanted a £1 million pound house. What would you say to that?

I bet he's got more than a million in the bank. So that's irrelevant as well.

Ian_Griffiths_Halifax

Kenny4315 wrote: »

I bet he's got more than a million in the bank. So that's irrelevant as well.

So he doesn't want to use his cash, he wants to borrow the funds as he knows he can afford the repayments.

Kenny4315

Ian_Griffiths_Halifax wrote: »

OK, lets say he wanted a £1 million pound house. What would you say to that?

It's all about affordability. That's what he was saying or are your thick?

I been going on about affordability for ages if you read my post, I said I would not be to fussed about salary multiples I'd let the bank do things on affordability, but I'd want at least 15% deposits to ensure the market stability, and to reduce risk to banks/government of default.

As a mortgage advisor, or so you say, you'd think you'd understand mortgage risk, and the factors that have caused the HPI, and the HPC. I'm not thick but you obviously are.

Kenny4315

Ian_Griffiths_Halifax wrote: »

So he doesn't want to use his cash, he wants to borrow the funds as he knows he can afford the repayments.

I'd still want a deposit. Or he can take his business elsewhere.

Ian_Griffiths_Halifax

Kenny4315 wrote: »

I been going on about affordability for ages if you read my post, I said I would not be to fussed about salary multiples I'd let the bank do things on affordability, but I'd want at least 15% deposits to ensure the market stability, and to reduce risk to banks/government of default.

As a mortgage advisor, or so you say, you'd think you'd understand mortgage risk, and the factors that have caused the HPI, and the HPC. I'm not thick but you obviously are.

It will upset you to find out that I picked up an award for Top Mortgage Adviser for the North of England and Scotland just last week then!

Yeah I'm thick! :rotfl:

dopester

Kenny4315 wrote: »

I bet he's got more than a million in the bank. So that's irrelevant as well.

Rooney's place.

http://www.dailymail.co.uk/news/article-474460/Rooney-rips-garden--looking-like-Old-Trafford.html

Kenny4315

Ian_Griffiths_Halifax wrote: »

It will upset you to find out that I picked up an award for Top Mortgage Adviser for the North of England and Scotland just last week then!

Yeah I'm thick! :rotfl:

Well given the state of mortgages and the level of mis-selling in the UK competition can't be too severe..... :rotfl:

Kenny4315

Ian_Griffiths_Halifax wrote: »

It will upset you to find out that I picked up an award for Top Mortgage Adviser for the North of England and Scotland just last week then!

Yeah I'm thick! :rotfl:

In second place came a guy who encouraged his client to take a 125% mortgage for a £200k property, with a 1% interest rate, fixed for 1 year, then the SVR thereafter, with fees of £1500, when the guy was earning £20k a year. The guy has since been repo'd, and the house sold for £170k, leaving a loss of £30k for the taxpayer to eventually pick up. :money:

I may be wrong but weren't Halifax (HBOS), crowing about there mortgage services until fairly recently ??

http://www.halifax.co.uk/mortgages/YM%20awards%202002-2009.asp