Lenders warn of massive mortgage crunch

bouche

Mr.Brown wrote: »

Mate. I have no idea what you are saying and I can't be bothered to put it into an internet translator. We'll get nowhere like this.

You just can't can't be bothered anyway, can you:o
So I agree but would think you'd have got the hint which is pretty clear, but no, you can't be bothered with that- either

Nor Can I..... but then I'm probably not quite as knackered as you, Mr Brown:T

Mr.Brown_4

bouche wrote: »

You just can't can't be bothered anyway, can you:o
So I agree but would think you'd have got the hint which is pretty clear, but no, you can't be bothered with that- either

Nor Can I..... but then I'm probably not quite as knackered as you, Mr Brown:T

I am completely baffled, normally people just ignore or thank me and move on, but on the offchance that I have mistakenly upset a genuinely nice person I will apologise.

bouche

Mr.Brown wrote: »

I am completely baffled, normally people just ignore or thank me and move on, but on the offchance that I have mistakenly upset a genuinely nice person I will apologise.

You've not offended me and you have no need to apologise!

I'm sorry that you're baffled, it was just a joke and nothing to concern yourself with :beer:

purch

UK housebuyers could soon face a chronic shortage of credit that will see mortgages 'rationed' and punish first-time buyers, lenders warned today

I agree anyone selfish, greedy and bullish enough to want to buy a House for the first time should be punished !!!!

Public Flogging should be the bare minimum :eek:

purch

I'm sorry that you're baffled, it was just a joke and nothing to concern yourself with

He's never concerned himself with Jokes in the past :eek:

Mr.Brown_4

purch wrote: »

He's never concerned himself with Jokes in the past :eek:

Yes. I have lost it with this particular thread. I come on here to rid myself of effluent, to purge myself - not take any more on board.

markharding557

bouche said:

No - we're the wealthiest, fairest, richest country in the west and all opportunities are open to you.:T

that is the biggest laugh iv'e had all week:rotfl::rotfl::rotfl::rotfl:

1984ReturnsForReal_2

Anyone know exactly what this £300bn Government scheme is?

Is it the insurance underwrite that allows them to free up debt protection money for mortgages?

Thrugelmir

1984ReturnsForReal wrote: »

Anyone know exactly what this £300bn Government scheme is?

Is it the insurance underwrite that allows them to free up debt protection money for mortgages?

Special Liquidity Scheme.

The banks sold quality mortgage debt to the Treasury in exchange for discounted Treasury Bills. The Treasury bills are repayable between 2011 and 2015.

The bulk sits on LloydsHbos balance sheet. Around £165 billion. (Another reason the banks can't fail. :eek:). As the taxpayer is in essence underwriting this .

Treasury bills are tradeable instruments. In effect its allowed both Llloyds and RBS to continue trading in a normal way.

People have forgotten too quickly that both RBS and Hbos were only a weekend away from going out of business some 15 months ago. Its going to take some years to wean them away from the overleraged balance sheets they built up.

The problem with the Treasury bills is that they are going to have to be either refinanced or repaid. Banks aren't going to make £300 billion post tax profits in that time frame, neither are mortgage holders going to repay debt. (£300 billion is around 25% of total outstanding mortgage debt).

This is why I comment endlessly on a credit contraction in the years ahead. As QE has to be withdrawn and the banks are going to hold increased capital ratios under the Basle agreement as well. There is no upside at the moment. We've yet to reach the bottom........

1984ReturnsForReal_2

Thrugelmir wrote: »

Banks aren't going to make £300 billion post tax profits in that time frame, neither are mortgage holders going to repay debt. (£300 billion is around 25% of total outstanding mortgage debt).

Thanks

They should be reducing the debt levels greatly though, instead of trading on as normal.

If they don't there is a danger of total banking collapse at the next recession (due in....... 8-10 years).......