Nuovi lancio di accordo ipotecario al 100% nel Regno Unito
https://www.thetimes.com/business-money/money/article/100-mortgage-no-deposit-uk-news-rates-ljsd8mdw9
di OGSyedIsEverywhere
Nuovi lancio di accordo ipotecario al 100% nel Regno Unito
https://www.thetimes.com/business-money/money/article/100-mortgage-no-deposit-uk-news-rates-ljsd8mdw9
di OGSyedIsEverywhere
19 commenti
2008 called and wants it’s economic crisis in the making back
Has Labour loosened the rules then?
When the Tories took over after the Great Financial Crash, they made 100% mortgages impossible to get.
It’s an affordability thing. If they tie you in for a ten year fixed rate, which is their intention, they can say they have protected you from the vagaries of the market. It will be expensive now but it won’t get worse. It has its place I suppose.
Nice that’ll increase house prices…just what’s needed
Probably the only way young people are going to get on the ladder. I actually think it’s a good idea as long as there are really strict affordability checks in place.
Young people aren’t struggling to pay monthly for accommodation. They’re struggling to save a 10%
deposit of tens of thousands of £ alongside paying for their accommodation. It’s not surprising really they can’t save the deposit. Affordability should have a section be based on previous rental proof of payments which isn’t hard to prove with letting agent’s statements.
The only and probably biggest issue with this is going to be house prices will increase and it will push more people even further away from the chance of owning their own home who can’t prove this affordability because they’re just starting out.
How long do we reckon it’ll be before this creates a financial crisis for banks and leaves a load of people trapped in negative equity, and the taxpayer has to bail this decision out?
If they could just reduce or reform how interest is done. I pay £650 a month in my mortgage, lucky if £100 of that comes off my mortgage. People say renting is dead money but when you actually look at how little comes off your mortgage, most of that is dead too
Boy it took a long time for this to come back around.
The general trend will be, as wealth inequality increases, the BoE will be forced to facilitate cheap and risky borrowing in order to keep the economy moving.
It’s the only way in which you can keep normal people being able to afford houses and going on holidays and thus not completely collapsing the economy as all the money gets sucked into the coffers of the corporate landlords who just reinvest it all into, you guessed it, even higher property prices 🥳.
Believe me the house prices *can* go to infinity and beyond.
The beyond part is what worries me… Because how high can if go before the number just becomes meaningless and you just do a Zimbabwe?
That in Portugal only made house prices even more expensive. Good luck
I got one of those back in the, got me on the property ladder!
Why is this bad, it’s better than renting and getting nothing?
“We want to put rules in place to ensure that this never happens again.”
“We want to get rid of beurocracy.”
And then it happens again.
“We want to put rules in place to ensure that this never happens again.”
Etc etc… til the end of time…
*insert back to the future meme “wait, I’ve seen this one before”*
100% morgages were never the problem. Lending to people who couldnt pay it back was
I remember taking out a northern rock 120% mortgage deal back in 2002. What could go wrong?
If you can’t put any money down then you can’t afford the house. It’s as simple as that.
I miss Liz Truss. It’s only cause of her tanking the economy for about 2 weeks that I was able to afford a house without going into crippling debt.
There’s a place for these. They’re a great option for young people, full time work with average/low salary, no bank of mum and dad.
I took a similar deal with Santander back in 2019 and it worked out great. The mortgage was 90% and then they offered a 10% unsecured loan in addition to that to cover deposit. All subject to affordability etc. I was earning 24k at the time and got a 1 bed flat valued at 100k.
I knew I was just working full time forever anyway so made sense to start building up some equity instead of paying for some scummy landlord’s early retirement.
I think they mean “100% mortgages being reintroduced”