oh dear: Five-times-salary mortgage offer

[AtW]

So what's your point then, Mr. Stuck Record?

The point is that these huge deposits will come from elsewhere as loans in disguise, thus making things very risky not just for people who would borrow up to their necks, but for the whole market including those who refused to participate in this madness.

[sasguru]

The point is that these huge deposits will come from elsewhere as loans in disguise, thus making things very risky not just for people who would borrow up to their necks, but for the whole market including those who refused to participate in this madness.

Wrong. Read my previous posts. The only borrowing you can do is personal. Which raises the question "How many people can afford to lend 60K to someone to buy a house" Answer: very few.

Now stop boring the whole forum with your lack of understanding.

Case closed. Next.

[AtW]

The only borrowing you can do is personal.

Yes and you also can't lie about your income on self-certified morgages - just because it is not supposed to happen does not mean it does not happen.

[sasguru]

Yes and you also can't lie about your income on self-certified morgages - just because it is not supposed to happen does not mean it does not happen.

I think you need a year's accounts on self-certified mortgages. The few who cheat or borrow excessively will ultimately pay the price. That won't bring the market down. Massive unemployment or surge in interest rates will.

[Ardesco]

The point is that these huge deposits will come from elsewhere as loans in disguise, thus making things very risky not just for people who would borrow up to their necks, but for the whole market including those who refused to participate in this madness.

Where do you get this stuff from? Where is your evidence?

You are just assuming that everybody will somehow magically get loans for lots of money. The whole point of the deposit being so high is that your average Joe is not going to get an unsecured loan for £60,000 (As I have said many times before) therefore they will not be able to take advantage of this offer and load themselves up with debt they cannot possibly afford.

If they want a nice high loan they will go to one of the less eputable mortgage suppliers who will do a 100% 7.5 times your salary mortgage at a higher interest rate due to the fact that you don't have a deposit.

Now you may not like the fact that some people want mortgages when you can't afford one, and you may not like the idea of a bank putting out a half decent offer, but that doesn't automatically make it a bad offer or mean that you are correct.

This time you are wrong AtW, just accept it so we can move on!!!

NEXT!!

[rootsnall]

I think the 25% deposit is incorrect, there was a correction to an earlier story on Bloomberg stating that the new Abbey criteria would be 5X gross income with a 3% deposit. I'll see if I can dig out the link.

[Sockpuppet]

Good Lord no! But I was once. Difference was, I did not expect to have everything laid on a plate for me from day one like you seem to.

And, I dare say, relatively young. And as is typical of your generation, unprepared to compromise. What exactly is wrong with a flat as a first time buy? That's what I started with, and I now have a 6-bedroomed place, but it took time and sacrifices. If you don't have the vision to see that having a dog whilst you don't have a house is blinkered then there is little can be done for you mate.

So DO IT then and stop bleating you turnip!!

A real "something for nothing" sponger if ever there was one!! Don't mind ripping your parents off though eh? In my day we would have been ashamed of the fact that we could not stand on our own two feet when we left school. Nowadays they need their @rses wiping for them till they reach their 30s/40s. God no wonder they are so anti-war, none of them seem to have the kahoneys to deal with one anyway!! W@nkers!

ok here goes...

1) I dont want everything on a plate. I am much more independant than 99% my age. I paid my own way through Uni worked at least 20 hours a week since the age of 13 when I was working cleaning a butchers for £2 an hour. When I was doing a-levels I did 8-3 at college and 4-10 in a local warehouse to pay the way. If thats what you call laid on a plate god help you...I suspect you did that and walked 20 miles in the snow as well to do it.

2) Why is having a dog and no house blinkered? He was a rescue case and hes a damn site better off than he was.

What I object to is a 3 fold increase in the price of housing while wages have stayed the same. I'd expect you to be the same if you were in my position not all of us are old enough to have bough a 15 storey town house for sixpence back in the victorian times.

My sisters flat she bought for £60k and is now back on the market for £85k one year later. Nice to see wages havent risen the same in the last year.

3) I am not a vegtable

4) I pay the parents rent. I wouldnt call it sponging. I'm also a TA solider been called up twice and given more to this country than many people twice my age so please dont accuse me of tulip you know nothing about.


As I've said before on these forums. I am in a VERY lucky position that I can attract a decent 60k wage at the age of 23. There are millions that cannot. I work with people every day the same age as me on £14k a year how on gods green earth are they going to affod a place.

The market is going arse of tit. There is far far far too much debt, the whole country is living by borrowing and sooner or later something is going to have to give. I think the start is hear. I predict another 0.25% on base in November and hopefully that will slow people down for christmas.

[Sockpuppet]

I imagine she had people in mind with considerably more moral fibre than you though. I don't think she invested a lot of time imagining what freeloaders like you might do to get by, or the depths you might stoop to in order to avoid taking responsibility for your lot.

See above.

[sasguru]

ok here goes...

1) I dont want everything on a plate. I am much more independant than 99% my age. I paid my own way through Uni worked at least 20 hours a week since the age of 13 when I was working cleaning a butchers for £2 an hour. When I was doing a-levels I did 8-3 at college and 4-10 in a local warehouse to pay the way. If thats what you call laid on a plate god help you...I suspect you did that and walked 20 miles in the snow as well to do it.

2) Why is having a dog and no house blinkered? He was a rescue case and hes a damn site better off than he was.

What I object to is a 3 fold increase in the price of housing while wages have stayed the same. I'd expect you to be the same if you were in my position not all of us are old enough to have bough a 15 storey town house for sixpence back in the victorian times.

My sisters flat she bought for £60k and is now back on the market for £85k one year later. Nice to see wages havent risen the same in the last year.

3) I am not a vegtable

4) I pay the parents rent. I wouldnt call it sponging. I'm also a TA solider been called up twice and given more to this country than many people twice my age so please dont accuse me of tulip you know nothing about.


As I've said before on these forums. I am in a VERY lucky position that I can attract a decent 60k wage at the age of 23. There are millions that cannot. I work with people every day the same age as me on £14k a year how on gods green earth are they going to affod a place.

The market is going arse of tit. There is far far far too much debt, the whole country is living by borrowing and sooner or later something is going to have to give. I think the start is hear. I predict another 0.25% on base in November and hopefully that will slow people down for christmas.

Fleetwood? FLEETWOOD! FLeeeetwooood !!!!!

[shaunbhoy]

I dont want everything on a plate. I am much more independant than 99% my age

You are living at home at age 23 and are much more independant than 99% your age? How scary a stat is that??
As for the rest of your pathetic waffle, forget it. 30 years ago 99% of people had flown the nest as they had the balls to do it. Please don't lecture me from the safety of your bedroom at mummy and daddy's about what an entrepeneurial free-spirit you actually are. You are beginning to sound like a fledgling AtW FFS!