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Debate House Prices
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BOE to get more responsibilities.
Comments
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if you're hoping this will happen, we're already there...
you seem to like to ignore the fact that the average LTV on current mortgages is about 75%.
the average mortgage is just over 3.5 times income.
Current mortgages mean !!!!!!.
It's motgages going forward that really matter.
Of course, you are going to deny that, and then cry for better mortgages next week as a route to solving the problem of house price falls.0 -
if you're hoping this will happen, we're already there...
you seem to like to ignore the fact that the average LTV on current mortgages is about 75%.
the average mortgage is just over 3.5 times income.
Yes exactly and lets keep it this way instead of giving in to call for banks to start giving 100% mortgages and 5x income mortgages again.0 -
sorry Devon you seem to have confused your buttocks with your mouth again...Graham_Devon wrote: »Current mortgages mean !!!!!!.
It's motgages going forward that really matter.
Of course, you are going to deny that, and then cry for better mortgages next week as a route to solving the problem of house price falls.
Shortchanged said that we should go back to the absolute maximum of normal lending. i've simply told him that what he wants is in place now.
apologies for pointing this out to you but i don't want you having another of your e-breakdowns that you seem to have quite often on here...Originally Posted by shortchanged
Go back to an absolute maximum 4 times single income and 3 times joint income mortgage.
btw, when have i cried for better mortgages next week - you're making stuff up again aren't you...0 -
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banks are free to do what they want, they're also free to lend to who they like and how much they like. that's all within financial regulation and also the market demand.shortchanged wrote: »Yes exactly and lets keep it this way instead of giving in to call for banks to start giving 100% mortgages and 5x income mortgages again.
i don't have a problem with 5 x mortgages or 100% mortgages, i have a problem with the quality and level of underwriting. the banks aren't the best at managing this.0 -
ahhh you can predict what i'm going to be doing in the future...Graham_Devon wrote: »You haven't. It's not next week yet. Fool.
that's not a very nice response, it's a shame you couldn't predict the future when you lost £30k gambling and had to get your dad to bail you out...0 -
You are doing well with the insults chucky dear.
It's a shame you have to enter the land of make believe to actually make them.0 -
well you seem to dish them out but can't take it... if you can't play the game don't play it... since when is telling the truth and insult???Graham_Devon wrote: »You are doing well with the insults chucky dear.
It's a shame you have to enter the land of make believe to actually make them.
land of make believe?? are you denying you forked yourself financially by gambling and losing nearly £30k?0 -
IveSeenTheLight wrote: »I'm interested to know how the government pay for this increased social housing.
How do they find billions (£5bn a year for Afghan I have seen reported) into fighting wars for the last 9 years achieving very little.
Or perhaps how they find the money to prop up Greece and Ireland at the drop of hat.
I am sure where there is a will there is a way. They could look back at the last time they did it and claim it as a revolutionary ideas.
At least they would get a return on their outlay over the life of the property."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
banks are free to do what they want, they're also free to lend to who they like and how much they like. that's all within financial regulation and also the market demand.
i don't have a problem with 5 x mortgages or 100% mortgages, i have a problem with the quality and level of underwriting. the banks aren't the best at managing this.
Banks and building societies used to be more than capable of assessing lending decisions based on the parametrs roughly being discussed 3.5 xs ingle and 3x joint with a 90/95% LTV.
This was in the 80's/90s and earlier prior to deregulation.
Post deregulation it went into feeding frenzy and greater "credit score style processing".
It became sales push driven rather than risk control based decisions. Also the quality of checking wasn't as fastidious either.
Having worked in both sides of that model I believe that those multipliers were closer to affordability than 5x if it is you intention to live rather than just struggle to pay a mortgage. Stuff happens and when you extend too far the problems snowball.
In a rising market the risk to the lender isn't so great but for a mortgage that is insurance rather than a reason to advance the money."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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