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It's all about the rationing
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Looking back we had it easy until the late 80's when the interest rate hit 15%! By which time wages had increased considerably, so at that peak, it wasn't that bad.
Today, well, I do feel sorry for those trying to buy, be it 1st timers or those in their 40's.
What do you mean it wasn't bad, I was paying £440 a month for a basic first tiime buyer property in the North of England. You could probably buy somewhere for that now.'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I will fall into the the more than sizable 36% then...Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
June 2011 figures.
FTB's - average LTV 80% Income multiple 3.22
Movers & Remortgages - average LTV 70% Income multiple 2.880 -
There is no indication of 10% deposit or less being 36%. as 5% is only 2% I would say nearer 18% was generous.
Either way there is products at 10%-15%, I only need one.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Either way there is products at 10%-15%, I only need one.
Yes there are, but while the vast majority are at 20% + you may struggle to get one.
The spread shows you where they would like to lend money, so lower LTV will mean stricter criteria and higher rates compared to where most of the products are (20%+)0 -
Yes there are, but while the vast majority are at 20% + you may struggle to get one.
The spread shows you where they would like to lend money, so lower LTV will mean stricter criteria and higher rates compared to where most of the products are (20%+)
I agree, luckily I am one of the few with a very strong and spotless credit file.
By all means I try, if I get rejected I save longer, not the end of the world.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
I agree, luckily I am one of the few with a very strong and spotless credit file.
By all means I try, if I get rejected I save longer, not the end of the world.
Good luck with your deposit saving.
With £4.38 added to your fend in the last two months and currently £6.48 towards your 10% deposit, I can see why your hoping for reductions and will need to have a frugile year to meet your target of buying in 11 months time.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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