July house purchase lending up on a year ago for first time in over two years

Graham_Devon

IveSeenTheLight wrote: »

So the couple who have less outgoings would need to save more than those that spend all they've got. Good theory.

Erm, no. But thanks for taking what I said and putting it on a full spin before hanging it out to dry and than creating something completely different from it.

Both couples would be able to get X amount times their wages.

The couple who live frugally, could, if they wanted to, afford to save more, for a bigger desposit, therefore, getting a better house if they so desire.

That's all that was said.

Thrugelmir

IveSeenTheLight wrote: »

According to the CML, 20,400 in July 2009, up 18% from June

Both Brittannia and HSBC are offering 10% mortgage products.
There are probably a lot more, these were just a couple I looked at recently

http://www.britannia.co.uk/home/_sit...xed-rates.html

Britannia - 10% deposit, 5 year fix from 6.19%
- 25% deposit, 5 year fix from 5.44%


http://www.hsbc.co.uk/1/2/personal/m...FrUj:11j74lc1v

HSBC - 10% deposit, 5 year fix from 6.49%
- 25% deposit, 5 year fix from 5.59%

I don't disagree that high % loans are available. But how much of the publicity is marketing spin? Banks release funds in tranches to maintain a balanced loan book.

After 25 years of FTB's obtaining high % LTV mortgages. Where is the deposit money coming from? Can only be parents helping their offspring onto the ladder in a lot of cases. House prices are still historically high for FTB's. This maybe just another short term play that will run out of steam.

nearlynew

More purchases is good.

If it also means lower prices being paid.

purch

Wow big type face. If the news gets any better I'll need a wide screen

Whenever I see big type, or Italics I instantly believe everything that is written.

No one would go to all the trouble of changing the font, unless they mean it!!!

IveSeenTheLight

mewbie wrote: »

Sheesh, who wants an interest rate of 10%? The crash is coming all right.

Thanks sorted.

Of course it was 10% deposit mortgage products

IveSeenTheLight

Graham_Devon wrote: »

Erm, no. But thanks for taking what I said and putting it on a full spin before hanging it out to dry and than creating something completely different from it.

Both couples would be able to get X amount times their wages.

The couple who live frugally, could, if they wanted to, afford to save more, for a bigger desposit, therefore, getting a better house if they so desire.

That's all that was said.

So although they are less risk, they would have to wait longer to get the bigger / better property they desired, even though financially they could proove they could afford it.

Your example seems to reward higher risks and hold back lower risks.