[Merged]Brexit good news

[CretinWatcher]

Really? I got a 95% mortgage in 1991, and 100% mortgages were available (massively expensive though!). Though the multiple was 3.5, and I was borrowing less than twice my salary.

Do you think institutions will be lending 95%-100% now if there's a massive recession, after the 2007 debacle?
I got my first mortgage in '94 when it was all over, but I'm surprised you can get 95% when prices are falling.
How does the lending institution protect itself if it has to repossess a declining asset?

[The_Equalizer]

Do you think institutions will be lending 95%-100% now if there's a massive recession?

I know of near 50% drops peak-to-trough and they were still doing mortgages with a 10% deposit.

[CretinWatcher]

I know of near 50% drops peak-to-trough and they were still doing mortgages with a 10% deposit.

Is it any wonder the banks needed a bailout

[The_Equalizer]

Is it any wonder the banks needed a bailout

It was for a whole region too:

[NotAllThere]

Do you think institutions will be lending 95%-100% now if there's a massive recession, after the 2007 debacle?

Of course not. I'm just questioning your statement that lenders didn't lend in the early 90s.

How does the lending institution protect itself if it has to repossess a declining asset?

Very low prices anyway (village outside Newcastle), so the absolute amount at risk was low, and we had to pay the indemnity premium.

[BrilloPad]

UK industrial output grows at its fastest rate since 1999.

Not that a single months figures prove anything.

[Old Greg]

UK industrial output grows at its fastest rate since 1999.

Not that a single months figures prove anything.

It's not a single month. It's a single quarter. Ending at the end of June 2016.

UK industrial output growth fastest for 17 years - BBC News

Some recent surveys have suggested the economy slowed sharply in the wake of the Brexit vote.
Lee Hopley, chief economist at EEF, the manufacturers' organisation, said: "Clearly, indicators of sentiment post referendum suggest that we've hit the high point for manufacturing this year.
"Amidst the wavering levels of confidence however we should take away some positive news, firstly that manufacturing entered this period of uncertainty from a relatively strong stance and the weaker exchange rate could yet bring benefits on the export side."
However, Mr Tombs said: "We fear that the trade boost could take even longer than usual to materialise this time, because exporters will be very reluctant to invest until the UK's future trade arrangements are known.
"In short, hopes that exports will surge and offset the Brexit hit to domestic demand seem misplaced."
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[shaunbhoy]

I detect an element of you wanting to be proved right at any cost. What if it's not anywhere near as bad you hope - sorry - I mean expect?

Sascretin and OG are like Statler and Waldorf. The UK vehicle has done a handbrake turn just short of careering over the cliff of doom that the EU was propelling us towards, and those two dullards are complaining about a few chips in the bumper paintwork!!

[shaunbhoy]

I'd love to be proved wrong

I doubt that is ever a long cherished ambition.

[Old Greg]

Sascretin and OG are like Statler and Waldorf. The UK vehicle has done a handbrake turn just short of careering over the cliff of doom that the EU was propelling us towards, and those two dullards are complaining about a few chips in the bumper paintwork!!

Your metaphor just plunged into the abyss of cretinism.