Interest Only Mortgages advice needed

getmore4less

bery_451 said:

MWT said:

bery_451 said:

As long borrower has deposit and computer mortgage application says yes with the help of these excellent credit rating agencies lol that gives decision on screen in seconds the borrower can get a mortgage approved. 

You really don't understand how even the credit vetting for a mortgage works, do you?

I'm done with feeding this particular thread at this point it is going nowhere and certainly isn't helping anyone save money...

You don't understand the housing market supply and demand. House prices are not falling suggesting there's still a demand and lots of home sales to keep house prices high otherwise they would have tanked.

If mortgages are so strict to get, that you have been implied, and all those home sales are done on mortgages/debt not on full cash buyouts lol then hmmm how all these home buyers getting mortgages approved if its so strict and hard to get a mortgage  ? 

Put it simply if mortgages are tough to get and the lending criteria has gotten more strict then this alone would have disrupt the housing market causing home prices to fall but they are not falling are they  ?

Stricter lending criteria don't remove that many from the market.

Most cases they adjust expectations a bit as rates for the higher end of LTV went up.

Many of the people hit by current crisis were not even looking at buying.