HSBC calls end of crash, increases 90% mortgage funding

Graham_Devon

I didn't think some of those house were too bad!

Until I saw they were actually part of the house, such as mainsonettes

Cleaver

the_ash_and_the_oak wrote: »

there are definitely places in the 3.5x salary w 10% deposit in London for the 40kers if they want to buy

Developer 1: "It's an affordable, urban-space; designed with modern living in mind. Ornate gardens, proximity to workplay spaces and trendy modern fixtures."
Developer 2: "Is it meant to look like a prison?"
Developer 1: "Erm, no. Why do you think it does?"
Developer 2: "Yes."
Developer 1: "Actually, now you say it..."

lostinrates

Cleaver wrote: »

Developer 1: "It's an affordable, urban-space; designed with modern living in mind. Ornate gardens, proximity to workplay spaces and trendy modern fixtures."
Developer 2: "Is it meant to look like a prison?"
Developer 1: "Erm, no. Why do you think it does?"
Developer 2: "Yes."
Developer 1: "Actually, now you say it..."

It reminds me a lot more of some of the newer Halls of residence in Bristol.:o

mewbie_2

What is that fenced off bit in the picture? Childrens activity playground? Dog walking area? Green sewage recycling plant?

I mean a few benches might not go amiss, or a swing, or some art or something. Plant small tree and fence the f*ck out of it.

lostinrates

mewbie wrote: »

What is that fenced off bit in the picture? Childrens activity playground? Dog walking area? Green sewage recycling plant?

I mean a few benches might not go amiss, or a swing, or some art or something. Plant small tree and fence the f*ck out of it.

A friend of ours in italy lives in a development like that - a bit less instutional looking, but flats/houses/maisonettes in a square surrounding a playground. Apart from my gut instinct British reaction at how children's voices in a hole make a surprisingly shrill echo...I like it as an idea. How super for parents to genuinely be able to cook/clean/watch tv while watching their children and the other local children play in a relatively secure place in vision but not being overshadowed/watch. Normal child on child interaction can take place, and the little ''darlings'' certainly interacted with gusto:D.

mewbie_2

lostinrates wrote: »

Italian idyllic..

I saw a similar idea in a Spanish new build for Brits place. Load of villas (how much nicer villa sounds than terraced sh1thole) surrounding a pool. You just know what living within two miles of that pool is going to be like.

Cleaver

If there is one, massive benefit of this housing crash it's the prospect of developers actually having to think about the asthetics and quality of what they are building.

I have nothing against new builds per se, but for the past ten years they have been thrown up will no real thought, care and passion with those behind it knowing that it will probably sell out quickly and then increase in value. It'll be nice that future developers will have to consider making the place look nice, quality of materials and clever design again. And I still think that a really well-thought out, good quality, interesting and unusual development of decent places to live will sell.

I sound like Kevin McCloud.

fc123

Cleaver wrote: »

I sound like Kevin McCloud.

Nothing wrong with that...he's a bit of A Guru on the side.

Cleaver

fc123 wrote: »

Nothing wrong with that...he's a bit of A Guru on the side.

I've been told I look like a bit like him on a couple of occasions. Now there might be something wrong with that.

chucky

Thrugelmir wrote: »

Oh Mr C what total rubbish. The average UK salary is only £25k. So your example of 2 FTB's earning a joint £80k is pushing the boundaries somewhat. Visit the provinces once in a while. London and the South East will not remain immune.

i can only respond to a post that you gave the example for... you mentioned FTB's and a £40k salary to buy a house below.

Thrugelmir wrote: »

Major lenders seem to reducing loan exposure in general by reducing multiples.

So although 90% sounds great.

A year ago on a £40k salary times 5 salary at 90% LTV = £180k

Today on a £40k salary times 3.5 salary at 90% LTV = £126k.

Even allowing for the fact that the higher multiple requires another £6k of deposit.

The same FTB can only buy a house for £146k as opposed to £200k.

it was you that mentioned £40k and an FTB?
it was your example right? you're now saying that i brought up the £40k example?

Thrugelmir wrote: »

Even for BTL bulls, heralding 90% loans on reduced income multiples is utter nonsense. As which ever way you address the point. Banks are finding ways of lending less. They have too.

and who is arguing or claiming this? i haven't seen BTL being mentioned on this thread.
it seems that you want to discuss other things that don't have relevance here

Thrugelmir wrote: »

And as an aside these HSBC mortgages will be on a repayment rather interest only basis.

most if not all mortgage products will be repayment only especially at 90%.
why is this a surprise?

Thrugelmir wrote: »

The property iceberg is melting. As you know only 10% of an iceberg is visible above the water. What you need to realise is the bottom is being melted very quickly. The banks are quietly and effectively capping lending and putting it back onto a stable basis.

really? you seem to be so sure of this. i don't think you actually are.
you're describing a doomsday scenario with icebergs melting but in the same paragraph you mention back to a stable basis.

you're either saying that we're heading for financial armageddon or we're returning to stability. you can't have it both ways. you can but it doesn't make sense.

btw - the nonsense that you describe is still around by the major lenders.
there are still lenders lending at 5 times salary dependent on LTV. it's reality.