Reply to: That's it! Boomed again!

[brownie74]

Probably the credit crunch and related US subprime mess, Journo's (being lazy s**ds) are following up on similar housing stories in the UK now.

s**ds?

skids?

have i really been out of the UK that long that new swear words are out?

[Bagpuss]

Are they really that laxed here
That's why Northern Rock shares have gone down the toilet.

I was contracting with a building society in Dublin. I was going over some requirment with the underwriting dept. and someone came over with some faxed declarations. The reply was "you can throw that in the bin, that's not the person in that company who signs the declaration, fake. This self-declaration need 2 years accounts, and if this guy is using that account then he has no clue. No, no and no."

I tried to get a BoI credit card, much more stringent than here and a crap limit. Capital 1 however just gave me 16k on 0% no admin fee for 9 months for my stoozing activities (thanks capital one for that free money!)

[DBA_bloke]

The Money Programme had a whole programme devoted to this issue, must have been nearly 5 years ago now, and nothing happened then. So I'm not sure why the BBC are presenting this as news.

Agreed.

Borrowers fib about their earnings? What a scoop! I've never been so shocked, etc..... yawn..... zzzzzz.

A slow news day methinks.

[Hart-floot]

The Money Programme had a whole programme devoted to this issue, must have been nearly 5 years ago now, and nothing happened then. So I'm not sure why the BBC are presenting this as news.

Probably the credit crunch and related US subprime mess, Journo's (being lazy s**ds) are following up on similar housing stories in the UK now.

Even heard the "Crash" word mentioned on the BBC recenlty. Perhaps its time to put in that 50% offer on the 2 Bedroom flat in Docklands soon

[beaker]

Try again

http://property.timesonline.co.uk/to...cle2497882.ece

[alreadypacked]

no but I've got forearms like iron

and way too much information.

[Muttley08]

no but I've got forearms like iron

[alreadypacked]

oh AP..love it when you talk financial

Ok you really are not getting any

[Muttley08]

The market should have gone 5 years ago, but more money in the market from savers in counties like Germany, was lent to chavs in UK. This kept the property high. Credit squeeze will force the market down.

oh AP..love it when you talk financial

[alreadypacked]

The Money Programme had a whole programme devoted to this issue, must have been nearly 5 years ago now, and nothing happened then. So I'm not sure why the BBC are presenting this as news.

The market should have gone 5 years ago, but more money in the market from savers in counties like Germany, was lent to chavs in UK. This kept the property high. Credit squeeze will force the market down.

[VectraMan]

On the BBC today
http://news.bbc.co.uk/1/hi/business/7010415.stm

The Money Programme had a whole programme devoted to this issue, must have been nearly 5 years ago now, and nothing happened then. So I'm not sure why the BBC are presenting this as news.

[sunnysan]

Prices in E2

I know this area better than any other.

Dont know whether its just me but I can get for 250k now what I would have paid £275k 4-6 months ago.

I think prices are dropping IMPO

[alreadypacked]

Franko "According to Team Association, the UK-wide network of independent estate agents" They are looking at their income disappearing for the next 6 months at least, what else are they going to say.

[Muttley08]

Estate agents are going to say this to keep the market moving.

The only things you can believe in the current squeeze are impartial...and they're hard to find.

Beginning to wonder if estate agents have a rota to each release a comment on how good the property market is at the moment...

In reality, the property market is stalled...the figures are only starting to come through...once consumer spending drops (as is happening) we're into a recession.

[Hart-floot]

Are they really that laxed here
That's why Northern Rock shares have gone down the toilet.

I was contracting with a building society in Dublin. I was going over some requirment with the underwriting dept. and someone came over with some faxed declarations. The reply was "you can throw that in the bin, that's not the person in that company who signs the declaration, fake. This self-declaration need 2 years accounts, and if this guy is using that account then he has no clue. No, no and no."

UK is pretty lax, self-certs were 20% of the mortgage market last year and half the those are said to be fraudulent in someway. Looks like the sub-prime mess in the USA is coming to a suburb near you

On the BBC today
http://news.bbc.co.uk/1/hi/business/7010415.stm