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Debate House Prices


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Bank of China Mortgages

2

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Hey, I must be psychic icon7.gif I only wrote this last month.

    The world economy will self correct, when it does the banks from across the world will seek the highest returns, competition will return and it would not surprise me if mortgages in the future were supplied from The Peoples Bank of China at BR +1%.

    http://forums.moneysavingexpert.com/showthread.html?p=22857987&highlight=#post22857987
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • vikingaero
    vikingaero Posts: 10,920 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    From my experience of BOC, their mortgage criteria is definitely no bad credit and they are pretty strict on affordability and income multiples.
    The man without a signature.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mbga9pgf wrote: »
    Morning Hamish!

    ScottishFalsettoSockPuppetTheatre350x268.jpg


    :rotfl::rotfl::rotfl::rotfl:

    Thats actually quite funny......

    Not as funny as watching every new poster with a positive outlook get attacked by desperate bears.... But funny anyway.:D
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Dan: wrote: »
    What has 'pushing prices up' got to do with anything????

    I thought he/she was making that up, it read quite funny icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • bingibongi
    bingibongi Posts: 83 Forumite
    They will require all applicants attend an interview and I believe there is an arrngement fee of nearly £1000.00.

    I doubt there will be a flood offers - they are very conservative
  • Cat695
    Cat695 Posts: 3,647 Forumite
    Dan: wrote: »
    UK lending criteria is tight.


    Erm Obviously not or they wouldn't be lending large amounts of money to people who couldn't/can't pay it back.
    If you find yourself in a fair fight, then you have failed to plan properly


    I've only ever been wrong once! and that was when I thought I was wrong but I was right
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Cat695 wrote: »
    Erm Obviously not or they wouldn't be lending large amounts of money to people who couldn't/can't pay it back.

    Not since the credit crunch
  • Goodtimesahead
    Goodtimesahead Posts: 209 Forumite
    Secret password to getting a mortgage "I eat Dog!"
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    bingibongi wrote: »
    They will require all applicants attend an interview and I believe there is an arrngement fee of nearly £1000.00.

    I doubt there will be a flood offers - they are very conservative

    At least they wil help stabilise the mortgage supply. Even if they lend at a £0.5 billion a month on an average mortgage of £125,000k. Thats only 4,000 mortgages a month so impact will be limited.

    It appears some lenders are rising mortgage rates as don't want any more business at the moment. Suggests that raising funds to lend is starting to get more difficult. Something Merv raised last month.

    At a point we'll have to get a point of net repayment of mortgage debt in the UK on a monthly basis as the balloon can't keep expanding for ever.
  • pickles110564
    pickles110564 Posts: 2,374 Forumite
    Thrugelmir wrote: »
    They will cherry pick the best quality business. Leaving the British taxpayer with all the sub prime mortgage debt in the system ( via our holding in the UK banks).

    Expect their lending criteria to be tight.

    I understand that one policy they have is to meet all borrowers personally. :eek:

    Great! free trip to China, just love their grub.:T
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