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Future MOrtgages
herbiesjp
Posts: 8,499 Forumite
Pasted from an article:
Citibank is to stop new lending in the UK through its Future Mortgages and CitiFinancial portfolios.
As of Wednesday 21 May 2008 the bank will stop offering new loans by Future Mortgages, its intermediary mortgage operation, and its CitiFinancial personal loans business.
Citibank is to stop new lending in the UK through its Future Mortgages and CitiFinancial portfolios.
I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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wont lose sleep here....I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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none here either - but there have been a few posts lately about them so thought worth a new threadI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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I stopped using them months ago.
Just as long as GE / FN / IG dont stop lending. If that happens then I will be looking for a job. Dont think I can survive without them.0 -
I stopped using them months ago.
Just as long as GE / FN / IG dont stop lending. If that happens then I will be looking for a job. Dont think I can survive without them.
Can't say I'd lose much sleep other those either really -hope things go well for you thoughI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Future were "OK" with IVA;s and did up to 90% not many moons ago with a current IVA.
Have to admit they can be a bit of a pain in the !!!! when the case is with them!
IG's new Idol system, I wouldn't loose sleep on that either. Can't see GE going out. I have been informed reliably they have plenty of dosh to lend still.
SiI am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Take advice with a pinch of sea salt!0 -
GE may have plenty of cash but try working out how they make their AIP decisions...ask the staff, even they have no clue. FN/IG may have set criteria but you may as well ignore it.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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F Nat / GE may well be next. Forget this nonsense spouted by reps about them having deep pockets. Advantage said exactly that and that thier parent company had money to burn just days before they went down!
BOTTOM LINE:
Prices are falling and as more lenders shut thier doors this is compounded further, so F Nat / GE simply wont be able to justify anything above 80% soon
You know I used to write doom mongering articles on housepricecrash 3 years ago about all this comming, but its worst that even I thought!0 -
The medium/heavy adverse market needs to be removed for purchases imho completely.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Wutang,
GE's DIP system is a joke. They make up what they are prepared to lend and when you challenge their decision they say it's due to the score! As Conrad mentioned, 80% LTV limit may be a thing of the past. I just do not think, even though they have the plans, they want to lend above 80%.
SiI am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Take advice with a pinch of sea salt!0
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