We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mansfield Offers 100% mortgage
Comments
-
Your link is 2008. :rolleyes:
Dunfermline Building Society has been bailed out by the Nationwide since then.
The smaller Building societies have seen net withdrawls of funds and don't have any access to wholesale funds. Relying on savers and PIBS for their funding. So are struggling to fund mortgages.
The Mansfield may well attach strings to its offer. Such as saving with them for 12 months.
Hence why the smaller BS's SVRS are far higher than the retail banks. Also offering good fixed term deposit rates.0 -
Thrugelmir wrote: »Your link is 2008. :rolleyes:
Yes - I posted that.From this time last year.. but important.
However the bits about the building society model are important - if building societies aren't lending, due to lack of demand and not enough credit worthy borrowers - they are in trouble. I'd include your Nationwide in that.0 -
The big catch though is: you have to live in Mansfield.
I had a quick look at RM to see how much stuff costs there and it turns out to be: peanuts.
2-bed flats start at £47k
3-bed houses start at under £50k
4-bed houses start at £55k
With shared ownership starting at £27,500 for shiny new 3-bed town houses, it would be virtually impossible to lose your shirt.0 -
Crash_Over wrote: »100% mortgages and the return of the RMBS market ~ both on the same day.
I think we should wait and see what proportion of the RMBS actually sells before you say the market has returned. My understanding is that LLOY plan to keep most of the issue on their own books.0 -
PasturesNew wrote: »The big catch though is: you have to live in Mansfield.
I had a quick look at RM to see how much stuff costs there and it turns out to be: peanuts.
2-bed flats start at £47k
3-bed houses start at under £50k
4-bed houses start at £55k
With shared ownership starting at £27,500 for shiny new 3-bed town houses, it would be virtually impossible to lose your shirt.
Working on a reasonable multiplier you need to earn at least 15k, which excludes many in Mansfield. It's a very low wage town."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
robin_banks wrote: »Working on a reasonable multiplier you need to earn at least 15k, which excludes many in Mansfield. It's a very low wage town.
yeah, and so are the house prices. Christ, I have larger Credit Card limits then that!0 -
yeah, and so are the house prices. Christ, I have larger Credit Card limits then that!
Being born in the 'hood (ish), I looked it at in more detail, the scheme isn't in Mansfield, it's in the fantastically named Nether Langwith. That is the only fantastic thing about Nether Langwith though. It's League of Gentlemen territory and less then multi-cultural.
In all honesty even at these prices they're gonna have trouble selling them, yoth."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
However the bits about the building society model are important - if building societies aren't lending, due to lack of demand and not enough credit worthy borrowers - they are in trouble. I'd include your Nationwide in that.
The building societies can only lend if people save. Which as a nation we haven't saved enough in recent years.
I agree that building societies are important. As historically they lend locally. So that the money deposited is reinvested back into the local community.0 -
Thrugelmir wrote: »The building societies can only lend if people save. Which as a nation we haven't saved enough in recent years.
I agree that building societies are important. As historically they lend locally. So that the money deposited is reinvested back into the local community.
Do try to keep up Thrugelmir old chap. Saving is so 20th Century.
These days the Bank of England Quantatively Eases (which is absolutely not printing money, let's be clear), channels the funds very cheaply to banks in the hope that they might get around to lending some of it out at some point*.
*The only flaw is that the banks are mostly insolvent so can't lend out the money as they have to use it to patch up their balance sheets!0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards