House sales at highest level since June 2010, says RICS

Thrugelmir

DervProf wrote: »

Indeed.

And as I stated, some of these people may have found it a little difficult to get a mortgage until recently. Banks are probably a little more "generous" with their lending since the FFL scheme was introduced, so that explains the increase in house sales, rather than it being an indicator of an improving economy. Although some may argue that an improving property is an improving economy.

Banks are very quietly and subtly pulling the reins in. Headline interest rates look good. However net mortgage lending is in decline.

First Direct now requires minimum income of £50k (sole) and £75k (joint) to qualify for an offset mortgage. One way of restricting potential borrowers.

DervProf

Thrugelmir wrote: »

First Direct now requires minimum income of £50k (sole) and £75k (joint) to qualify for an offset mortgage. One way of restricting potential borrowers.

And another way of making sure that the average Joe can't get much return on his/her savings.

Thrugelmir

DervProf wrote: »

And another way of making sure that the average Joe can't get much return on his/her savings.

HSBC has always been a notch above. By far the biggest lender in the UK mortgage market now. However wishes to retain its low risk lending strategy.

Good recommendation for the shares.

chucknorris

meljm2 wrote: »

j
Hpuse prices will be at leastr 40% down by Christmas.

I had to thank you because it made me laugh. What about the 50% down that you were saying last week, or will that be in the boxing day sales?

System

chucknorris wrote: »

I had to thank you because it made me laugh. What about the 50% down that you were saying last week, or will that be in the boxing day sales?

I personally like the outrageous attempts to disguise the typing style, although it's never even remotely consistent.

chucknorris

Thrugelmir wrote: »

First Direct now requires minimum income of £50k (sole) and £75k (joint) to qualify for an offset mortgage. One way of restricting potential borrowers.

I've been with first direct since they started (probably about 1990, I can't remember) but when I rang them up about an offset mortage (50% ltv on my current house) they said they wouldn't consider me, due to having too many other mortages (to put it into context the other mortages are an average ltv of less than 20%).

I was interested in an offset mortage that I could arrange in advance on my existing home (currently unmortgaged) so that we could buy at auction if we saw something that we wanted. We haven't quite got the funds in cash yet for what we would want, so we would have to wait until the next fixed rate savings bond matures.

chucknorris

Joeskeppi wrote: »

I personally like the outrageous attempts to disguise the typing style, although it's never even remotely consistent.

I can't quite make my mind up if he really is a PM guy or a bull pretending to be a silly bear, what do you think? The spelling errors have to be deliberate, shirley?

chucknorris

meljm2 wrote: »

ypu will be stuffed

Thanks for the offer but I'm straight.

chucknorris

meljm2 wrote: »

you sound like you is rattled

anoither scared btl debt jinkie

How scared do you think I am with an overall ltv of less than 20% (less than 3% if you take our cash/ non property investments into account).

chucknorris

meljm2 wrote: »

nah - most btl speculatrs think they are ok but they are really just debt junikies

the bank owns your house, not you

We have 4 unmortgaged properties, who owns those? I could make another one unmortaged tommorow (straight away asap) if I wanted to, but why should I when I am only paying 1% mortgage interest?