What happens to property if GBP crashes?

[Menelaus]

The dubious self-certs that people talk about are - generally (note, all generalisations are dangerous, including this one) speaking - a fallacy.

I spend all of my day surrounded by swathes of both residential and BTL mortgage performance data both for the mortgages themselves and their outside factors (e.g., HMLR data, AVM outputs).

Here's something that the UK media seems to have overlooked: in a small majority (by volume) of instances, self-certificated mortgages perform better than non-self certified mortgages. I'm not sure why either.

As for the sub-prime debacle: the big issue isn't going to be the issue of residential mortgages - the hit's been taken there already, and I'd expect the market to be returning slowly, licking its wounds.

The next biggie will be in refis. There's very little long money in the markets at the moment which means that refinancing has not had anything like the ability to be able to place a long-term, low-interest margin on itself. The next period when debt will need to be rolled over is 2011.

Batten down the hatches, me hearties!

*Note: I am not an FSA authorised person, and the above should not be treated as advice or information in any way nor should it be used as the basis of any investment decision. Always carry out due diligence. Always stress test. And always, always, always - wear clean underwear in case you're hit by a car crossing the road.

[DimPrawn]

*Note: I am not an FSA authorised person, and the above should not be treated as advice or information in any way nor should it be used as the basis of any investment decision. Always carry out due diligence. Always stress test. And always, always, always - wear clean underwear in case you're hit by a car crossing the road.

True, but it's not like you would tell fibs is it?

[Menelaus]

True, but it's not like you would tell fibs is it?

Not when appropriately medicated, dear boy, not when appropriately medicated.

[doodab]

Here's something that the UK media seems to have overlooked: in a small majority (by volume) of instances, self-certificated mortgages perform better than non-self certified mortgages. I'm not sure why either.

I suspect because a) they involve a certain amount of personal responsiibilty taking and judgement as to what one can afford and b) the criteria for non-self-certified lending became increasingly relaxed, so there is a largeish pool of non-self-certified mortgages that are riskier than they once were or are at the moment.

[sasguru]

True, but it's not like you would tell fibs is it?

He's certainly got chutzpah though, coming back here, you got to give him that

[Moscow Mule]

There are still 120-180,000 properties waiting to be repossessed in the UK - with borrowers on "special measures".

This is just a front to fiddle with balance sheets - all of these properties will be repossessed and sold on eventually.

[TimberWolf]

There are still 120-180,000 properties waiting to be repossessed in the UK - with borrowers on "special measures".

This is just a front to fiddle with balance sheets - all of these properties will be repossessed and sold on eventually.

And all to be blamed on the next government. Or Thatcher.

[DimPrawn]

He's certainly got chutzpah though, coming back here, you got to give him that

Indeed, he's got more front than Margate, Rodders.

[Menelaus]

Indeed, he's got more front than Margate, Rodders.

Or Dolly Parton / "Jordan" / etc ...

[AtW]

It won't happen as lenders have been strict