MSE News: Halifax: house prices up for third successive month

Really2

Graham_Devon wrote: »

It's not a myth. It wasn't small numbers of loans. Most were at higher multiples.


Thats the average.

The average of 3.5x ended in 2002.

Look at these links before going on about multiples.

Really2 wrote: »

Nice map here. that gives LTV for the country over 2006 and 2007

http://www.mortgages.co.uk/mortgage-trends/year/average-loan-to-value-06-07.html


lets not get confused that 100%+ was the norm.

Also average purchase price and the average mortgage.
http://www.mortgages.co.uk/mortgage-trends/year/average-property-price-06-07.html
http://www.mortgages.co.uk/mortgage-trends/year/average-mortgage-value-06-07.html

Interesting data.

Are earnings not higher in London? Average UK wage does cloud the picture on purchasing a bit.

Graham_Devon

Really2 wrote: »

Look at these links before going on about multiples.

What's wrong with nationwide? It's what we use for HPI.

the_ash_and_the_oak

Interesting stuff. One thing I think we can all agree that the HSBC link thats been on here a few times the last few weeks is a good thing w 3.5x at 90% is a good thing imo

Can anyone find any of the higher income multiple (or affordability-based ones if you prefer) that are at 90% LTV and above. Do you think they will return? (and who do you think will be first?)

Really2

Graham_Devon wrote: »

What's wrong with nationwide? It's what we use for HPI.

I have always purchased on local info. My house is not national average neither is my wage.

PS I said nothing of the source just that it hives a national average.

I have given you links to the Average house price, average LTV and the average mortgage taken out for all areas of the UK

Surely that gives you more of picture than average national wage against average national house price.

StevieJ

Really2 wrote: »

Nice map here. that gives LTV for the country over 2006 and 2007

http://www.mortgages.co.uk/mortgage-trends/year/average-loan-to-value-06-07.html


lets not get confused that 100%+ was the norm.

Also average purchase price and the average mortgage.
http://www.mortgages.co.uk/mortgage-trends/year/average-property-price-06-07.html
http://www.mortgages.co.uk/mortgage-trends/year/average-mortgage-value-06-07.html

Interesting data.

Mythbusters

the_ash_and_the_oak

Have to be honest here - I hadn't read anything about 100% LTV being the norm imo (though I had read about it being available)

the_ash_and_the_oak

Was this really true about Abbey National in 2006?

http://www.appleton-estates.com/articles/2006/11/12/five-times-salary-mortgage/

Didn't know this either!

(ah it was for those w 25% deposit! was going to say!)

Really2

the_ash_and_the_oak wrote: »

Have to be honest here - I hadn't read anything about 100% LTV being the norm imo (though I had read about it being available)

It's an old favourite on here, that and "liar loans".

Graham_Devon

Really2 wrote: »

I have always purchased on local info. My house is not national average neither is my wage.

PS I said nothing of the source just that it hives a national average.

I have given you links to the Average house price, average LTV and the average mortgage taken out for all areas of the UK

Surely that gives you more of picture than average national wage against average national house price.

But thats absolutely nothing to do with what julie was saying about max of 3.5

Why would I talk about pockets of the UK!? LOL.

Wires crossed I think.

Really2

the_ash_and_the_oak wrote: »

Was this really true about Abbey National in 2006?

http://www.appleton-estates.com/articles/2006/11/12/five-times-salary-mortgage/

Didn't know this either!

(ah it was for those w 25% deposit! was going to say!)

You will have to get use to some of the more imaginative posts on here.

All banks and BS seemed to be happy to provide loans at 7X joint wage at over 100% LTV in the boom.

Every one had one.:) (well except me I have never had a multiple over 3.5X );):D