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Debate House Prices
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UK Government to Underwrite New Mortgage Lending
Comments
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HAMISH_MCTAVISH wrote: »The bank will reject somewhere around 90% of them, because the new capital adequacy rules mean they simply do not have the money to lend any more. That's how bad it is in the real world.
Exactly.
That is what happens when you go away from lending based on your banks savers, lend irresponsible levels, borrowing off the international money markets, have a credit crunch, cut interest rates to 0.5%.
If you want to boost funding then raise interest rates so it encourages savings which can increase lending funds.
Hamish finally gets it that there isn't enough money to support these inflated house prices.Welcome to the Bears Hamish!!!:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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:rotfl:
Do you know what Brit, when you're not desperately trying to spin the currently rising house price indices, you can actually be a funny little fella on occasion.
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Wow, you really just don't get it, do you?
No defaults, no late payments, and proof of income is no longer enough to get a mortgage.
The banks are rejecting loads of those applicants every month because they have to ration mortgages.
Yes and it has been that way previously with lenders having to book exposure, within caps, to certain segments that are property related.
Nothing new."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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