Nationwide Slashes Higher LTV Rates...

phil_b_2

MatteH wrote: »

I don't have a link, but seeing as you rarely post any to back up your cherry picked stat's, I can't really see the problem in that

One thing about Hamish that bears can't groan about is a lack of supportive links to his arguments. They are frequent, unlike most bear rants in fact.

System

carolt wrote: »

Am I the only one to wonder whether Hamish is going to really, REALLY, REALLY regret posting that picture?

The only thing I'm regretting is people who don't understand the term "troll".

MatteH

phil_b wrote: »

One thing about Hamish that bears can't groan about is a lack of supportive links to his arguments. They are frequent, unlike most bear rants in fact.

Frequently omitting important contrasting data, to reinforce his own views more like. Why he does this on a message board that's only read by a few thousand at best I'll never know?.

HAMISH_MCTAVISH

Joeskeppi wrote: »

The only thing I'm regretting is people who don't understand the term "troll".

Indeed.

Some people around here seem to use it interchangably with "bull"....:rolleyes:

sjaypink

MatteH wrote: »

Frequently omitting important contrasting data, to reinforce his own views more like. Why he does this on a message board that's only read by a few thousand at best I'll never know?.

:rotfl::rotfl:Theres probably 10 people that read this debate board (generous estimate)!

HAMISH_MCTAVISH

sjaypink wrote: »

:rotfl::rotfl:Theres probably 10 people that read this debate board (generous estimate)!

I've seen 30 at once on here, but I doubt more than 50 or 60 are regular readers.

sjaypink

HAMISH_MCTAVISH wrote: »

I've seen 30 at once on here, but I doubt more than 50 or 60 are regular readers.

Yeah but how many of those were multi browsers?

TBF I expect your guess is fairly accurate

HammerSmashedFace

HAMISH_MCTAVISH wrote: »

Moving up.....

Last year 60% LTV got the best deals, then 75%, now big cuts up to 85%.

Won't be long now until 90% deals become attractive again.....

And when they do, it will unleash a huge wave of pent up demand.;)

Gotta give it to ya Hamish......



Pent up demand, yep I can see it now, all those FTB'rs with 15k in the bank, no debt, great job prospects rushing in to put all there mum and dads spare equity down on a house.:D There must be oooooo at least 10 of 'em out there.

Housing market is screwed, enjoy the false dawn while you can.

Rochdale_Pioneers

Well I'm selling up and moving to Sheffield due to anew job. House worth less than we paid for it, but we'll still cover the outstanding balance of the mortgage. What it won't do is give us a large deposit for the next place. Halifax already offering us 90% LTV to transfer our existing fixed deal, may need to push them for one of their 95% LTV deals.

Funny thing is that aside from the lack of decent deposit, they're offering me 5.2x my new salary! 3x would cover the new mortgage.....

dopester

HAMISH_MCTAVISH wrote: »

http://www.ftadviser.com/FTAdviser/Mortgages/Products/News/article/20100107/26f54e7e-fb7c-11de-8fd9-00144f2af8e8/Nationwide-set-to-cut-number-of-mortgage-rates.jsp

Moving up.....

Last year 60% LTV got the best deals, then 75%, now big cuts up to 85%.

Won't be long now until 90% deals become attractive again.....

And when they do, it will unleash a huge wave of pent up demand.;)

I've yet to read the rest of the thread but I don't think you area grasping my point about credit revulsion.

A lot of people are fairly happy with low interest rates for their savings because the risk on so many other things - especially the purchase of houses at current prices - is incredibly high.... with the prospect of renewed falls in house prices from these levels.

There are others who are feeling temporarily frustrated their savings - for those who can save - are not getting 'enough-of-a-return' and will hunt out other areas of return..... but we're living in a high risk environment. One where there are great downside risks to capital invested in other sectors.

A fall in loan demand in the face of falling interest rates is confirmation of deflationary collapse. Falling interest rates (to such a historic low) not being accompanied by a growth of money aggregates (fresh lending).

Rising unemployment, job insecurities, pay-cuts, existing debts... house prices getting ever cheaper... give reason to people who can still qualify for finance to hold off from borrowing.

You can hope higher LTVs will attract a final wave of borrowing suckers - which it might judging from people still looking to borrow on the house-buying forum... but they are digging their own graves imo.