Treasury seeks to boost 95% mortgages

HAMISH_MCTAVISH

The Treasury is holding talks with lenders and mortgage trade bodies to explore how mortgage indemnity guarantees can be used to improve access to 95 per cent loan-to-value mortgages, including offering MIGs on older properties.

A source close to the talks says: “Essentially, the Treasury’s agenda is how do we improve lending at 95 per cent mortgages as there is unmet demand there and something needs to be done about it.

London & Country associate director of communications David Hollingworth says: “It all depends on the details but if the Treasury plans to launch a MIG-type scheme, then to get some uptake lenders will have to be given relief on capital requirements. This type of scheme will coax lenders back into this part of the market.”

A Treasury spokeswoman says: “We have said that we will do more to help families who can afford a mortgage, but are unable to raise a large deposit, to buy their own homes. We are continuing to look at what can be done and will provide further details in due course.”

http://www.mortgagestrategy.co.uk/latest-news/treasurys-new-bid-to-boost-95-ltv-mortgages/1065819.article

Only a matter of time now....;)

Sibley

HSBC are offering big multiples already.

Lending is the only thing holding back prices.
Everyone knows interest rates are going nowhere.

It's only a matter of time before we see 100% mortgages again. Once they are available, people will just look at the monthly repayment figure.

Can pay?...Yes....Sign up.


All the number crunching, investment advice etc etc offered by the HPC gang will fall by the wayside. People want a house.


Update....

HPC have searched it out to check.. Told ya so.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=187877

james_toney

Sibley wrote: »

HSBC are offering big multiples already.

Lending is the only thing holding back prices.
Everyone knows interest rates are going nowhere.

It's only a matter of time before we see 100% mortgages again. Once they are available, people will just look at the monthly repayment figure.

Can pay?...Yes....Sign up.


All the number crunching, investment advice etc etc offered by the HPC gang will fall by the wayside. People want a house.


Update....

HPC have searched it out to check.. Told ya so.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=187877

yep only a matter of time before we see 100% mortgages again, will push house prices up, more and more people talking about buying at least where i am they are

shortchanged_2

james_toney wrote: »

yep only a matter of time before we see 100% mortgages again, will push house prices up, more and more people talking about buying at least where i am they are

I doubt very much if we'll ever see mainstream 100% mortgages again.

james_toney

shortchanged wrote: »

I doubt very much if we'll ever see mainstream 100% mortgages again.

i personally think we will see them again, but i dont think it is a good idea

shortchanged_2

james_toney wrote: »

i personally think we will see them again, but i dont think it is a good idea

Why do you think that?

Don't you think that the financial institutions have learnt from previous mistakes?

Graham_Devon

HAMISH_MCTAVISH wrote: »

Only a matter of time now....;)

For what?

We have newbuy.

We had helping hand.

We have 95% mortgages.

We have QE.

We have Funding for Lending.

What are you expecting that will "only be a matter of time"?

james_toney

shortchanged wrote: »

Why do you think that?

Don't you think that the financial institutions have learnt from previous mistakes?

I think we will see them again, because i dont think that the financial institutions have learnt from their previous mistakes.

and mortgages are becoming more available and lowering the interest rates weekly some of them, and others with no fees..

again i dont agree with it, it will make a mess of it all like it did last time, really the last thing we need is a massive rise in house prices, 1-2% per year is fine with me,

shortchanged_2

james_toney wrote: »

I think we will see them again, because i dont think that the financial institutions have learnt from their previous mistakes.

God help us if they haven't (and that from an atheist!)

There is absolutely no need for 100% mortgages. They are just an indication that someone is not ready for the housing market.

HAMISH_MCTAVISH

Graham_Devon wrote: »

For what?

We have newbuy.

We had helping hand.

We have 95% mortgages.

We have QE.

We have Funding for Lending.

What are you expecting that will "only be a matter of time"?

That these will actually be widely available, instead of token gestures and publicity stunts, limited by bank capitalisation requirements to a handful of borrowers.

You can judge for yourself the definition of "widely available", but comprising more than the current 0.38% of mortgages issued would probably be a good start.

Graham_Devon

HAMISH_MCTAVISH wrote: »

That these will actually be widely available, instead of token gestures and publicity stunts, limited by bank capitalisation requirements to a handful of borrowers.

You can judge for yourself the definition of "widely available", but comprising more than the current 0.38% of mortgages issued would probably be a good start.

My question was more what do you think will happen.

You say "only a matter of time". But until what? HOW are they going to make these things widely available? Simply be ignoring any capital requirements....which kinda defeats the whole point of having any banking requirements?