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Income multiples
Comments
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ah well some people think that if you go, say interst only its cheaper and they did, lots of them. I believe some where in the region of 20% of all mortgages are on interst only. Down in here in the rich South i would think it could be a lot higher. Now as you can emagine with lenders cutting back on LTV's and some are even asking to see proof of repayment vehcile ( the cheek of it), there could be a problem with house prices. However with a strong economy and lots of people in work house prices should continue to rise according to Gordon Brown. Unless of course people stop spending due to higher interest rates and lack of avaliable funds and other associated fuel bills, petrol. you see where I am going with this. So as people stop spending, shops close, things dont get built and people start to loose ther jobs.0
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As Bulldog says be thankfull that these prople can no longer remortgage. It causes to many problems in the economy with people self certing.0
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