whant to guess what area has the higest ltv

epz_2

surprisingly enough glasgow, weird eh when you think house prices have trippled in the last 7 years

even i was shocked to find that out and only did cause i typed the wrong thing into a search engine.

http://uk.news.yahoo.com/itn/20080201/tuk-glasgow-is-uk-s-most-mortgaged-city-dba1618.html


guess the negative equity doesnt effect scotland is soon going to be put to the test.

merlinthehappypig

I guess the bigger cities, London excluded because it's a bit of a different animal, are bound to have the highest LTV's. Country areas and towns will have high proportion of second homes, where the LTV is likely to be lower which will skew the figures.

Like you, I'm surprised at Glasgow topping the list, though.

Generali

I'm not sure that I believe the figures that are given. The average mortgaged property in Glasgow has a 94.5% mortgage? So for each mortgage which has a 50% mortgage there are 10 with a 100% mortgage. It sounds like the journalist has missed something in the report,

Bf109

Is there a link to the source data?

HugoSP

The average home in Glasgow is mortgaged to 94.5%, and Motherwell is the most mortgaged town with up to 95% of property value still owed to the bank.

Ouch!

My guess is that a sizable proportion of glaswegions are in NE already!

Further to this we don't know:

1. How current the valuations are
2. What types of loans are secured against the property (mortgages or secured loans etc)
3. What loans are not secured agains the property (car loans etc)

It seems that like many people, a lot of glaswegions may actually have a crisis balance sheet.

Generali

Bf109 wrote: »

Is there a link to the source data?

This is part of some research provided by Experian I think at http://www.demographicsonline.com . The research there looks like it might be interesting but this isn't the sort of thing that's just given away as it's expensive to produce.

We've all got used to information being given away for nothing in the internet age but good research is worth even more these days as there is so much dubious stuff around.

epz_2

Generali wrote: »

I'm not sure that I believe the figures that are given. The average mortgaged property in Glasgow has a 94.5% mortgage? So for each mortgage which has a 50% mortgage there are 10 with a 100% mortgage. It sounds like the journalist has missed something in the report,

yeah as i said with house prices trippling recently it would mean that the majority of the population has mewed or a serious number have 125% mortgages.

that said i have long thought there was something fishy with glasgow house prices thought given the low wages and historicly cheap prices meaning mummy and daddy cant help out that much.


i should add that the motherwell area is one thats handy for me to get to work so i have kept an eye on prices and a 3 bed semi is still under 100k there