The return of Equity

leveller2911

Dan: wrote: »

You can still get 90% deposits.

The lender will decide on your credit score, not the credit agency.

90% deposits???? you mean 10% Dan??? putting down 10% (only some lenders will accept 10%) your obviously offered a higher rate for the motgage.Banks DO check credit ratings from Experian Dan... They checked mine ,when I contacted the bank they said the reason for checking was to look at my credit rating and history.

Dan:_4

leveller2911 wrote: »

90% deposits???? you mean 10% Dan??? putting down 10% (only some lenders will accept 10%) your obviously offered a higher rate for the motgage.Banks DO check credit ratings from Experian Dan... They checked mine ,when I contacted the bank they said the reason for checking was to look at my credit rating and history.

Yes, sorry I meant 90% Mortgages, not deposits. Of course your right, these will come with a much higher rate. I will edit my original post.

Lenders do indeed run a credit check with a credit reference agency. What I meant was your credit "score". I could log on to experian right now and purchase my credit score - this is likely to come out at 999 [for me] This is the figure that lenders do not see. They will access your experian records and using their own criteria will decide on your credit score - this may not be the 999 that experian stated.

Dan:_4

fatpig wrote: »

The Halifax, wouldn't you know. No wonder they went t*ts up.

don't dis the halifax - they give me a free fiver every month.

Graham_Devon

Rochdale_Pioneers wrote: »

Interested to visit my mortgage account online earlier and find that Halifax believe there to be £12k of equity in my mortgage. A few weeks ago the equity that had been in there had completely gone and we were teetering on the brink of negative equity.

I also have this account, and it's simply a guess. Mine is way out, overegging it by nearly 30k, though it has dropped over the months.

You have the option to do a recalculation on ACTUAL figures in a box below.

Rochdale_Pioneers

Graham_Devon wrote: »

I also have this account, and it's simply a guess. Mine is way out, overegging it by nearly 30k, though it has dropped over the months.

You have the option to do a recalculation on ACTUAL figures in a box below.

lol - self cert house prices! As I said its purely academic from my perspective anyway.

Entertainer

An estate agent I spoke to told me they had had six sales in the last couple of weeks. With interest rates at a 400 year low of 0.5%, I would think it would be virtually impossible for there not to be some pick up in demand. Whether it lasts is another matter.

PasturesNew

Maybe they're just trying not to panic their userbase and fudged the figures for those online lookups.

ad9898_3

I expect to see approvals going up for a couple of months then plunging back to new lows in the summer, we mustn't forget that this time of the year is the busiest time for house selling, that's another reason for the Nationwide's price index this month was up. I don't expect it to last.

JonnyBravo

pickles110564 wrote: »

even some new builds being snapped up.:beer:

Let me guess.... they've been on sale for months and now 1 or 2 have sold and you describe them as "snapped up". Don't make me laugh.

penguine

tomterm8 wrote: »

I'm wondering if nationwide has tightened its mortgage lending, if nationwide only lends to relatively richer people, then the average price it lends up might go up, even without price rises in the general market.

I think Nationwide has always been more conservative in how much they're willing to lend -- I expect they always stuck close to the traditional multiples.

As for the house prices indices -- if fewer FTBs are in the market, and more people are renting out their current property in order to buy a larger one and "move up the ladder", then this might lead to the illusion that house prices are going up when in fact it just means that fewer of the properties at the bottom end of the market are selling.

Just a guess.