Reply to: BoE warns on mortgage rush as Co-op Bank pulls best deals

[SueEllen]

I do when I skin them

[SueEllen]

You can, when you've skinned one to make a nice fur hat

[AtW]

I guess we'll both be on AtW's ignore list now

Nah, that way I would not be able to keep track of all squirrel insults that you do...

[OwlHoot]

I guess we'll both be on AtW's ignore list now

[Diver]

You should look on the inside, not the outside Sue

I do when I skin them

[OwlHoot]

You should look on the inside, not the outside Sue

You can, when you've skinned one to make a nice fur hat

[AtW]

vermin

You should look on the inside, not the outside Sue

[SueEllen]

Greys are also cute, but I hate to say that squirrels should have tufts

vermin

[AtW]

Red squirrels are cute.

Grey squirrels are vermin. (Mainly cos they are American.)

Greys are also cute, but I hate to say that squirrels should have tufts

[SueEllen]

Do you like my squirrel Sue? It's red squirrel with tufts

Red squirrels are cute.

Grey squirrels are vermin. (Mainly cos they are American.)

[AtW]

Before the bubble

Do you like my squirrel Sue? It's red squirrel with tufts

[SueEllen]

This would have largely prevented the current situation, provided people did not find ways around it. Problem is, we would have seen sob stories on TV and the like about the poor FTB's, upgraders et al who cannot borrow enough for their first home, next home....They would cry 'How can we save this much deposit!!!'....'If only we can borrow 5 x' and the like. The banks would also be lobbying to lend more.

.

Before the bubble started I know people who happily could afford 95% mortgages which where 3 and 3.5 times their salary simply because property prices weren't ridiculous. They also didn't re-mortgage every 2 years.

BTW is moneyfacts talking about 2 year fixed deals? I was watching a business program the other day apparently last summer there were approx. 15,000 mortgage products in 1993 there were approximately 5,500 products. So it's kind of expected that the number of mortgage products will decrease.

[AtW]

This would have largely prevented the current situation, provided people did not find ways around it.

I don't think you can get around that easily.

Naturally Nu Liebor did not want to prevent housing bubble - it was perfect ground for bastard Brown because he could tax and spend, while people felt everything was good because their asset "value" was growing up very quickly. A cynical strategy that is really dereliction of duty if not treason - Her Majesty should have really intervened and ofer her loyal armed forces to take Nu Liebour politicians where they belong - prison.

[Turion]

What should have happened 5-7 years ago is creation of a few legal limits on how much can be borrowed to buy a house (min 25% deposit, max 3-4 times NET salary), also complete ban on "teaser" low interest rates for 2-3 years, no interest-only morgages - maximum length of morgage should have been fixed (you can repay faster, but not slower), say 15-20 years.

If this was in place this country would not have had a property bubble.

This would have largely prevented the current situation, provided people did not find ways around it. Problem is, we would have seen sob stories on TV and the like about the poor FTB's, upgraders et al who cannot borrow enough for their first home, next home....They would cry 'How can we save this much deposit!!!'....'If only we can borrow 5 x' and the like. The banks would also be lobbying to lend more.

I was reading stories from within the industry boosting about how they were enabling more people to get on the ladder with all these gimicks - teasers, int only, shared equity, and similar crap. It just forced up prices and in the end the chickens are coming to roost, and I think this is very serious for many people. Could be worse than the '90s housing downturn.

[Bumfluff]

I was lucky I got in with First Direct I had been putting off sorting it out but finally did the application over the phone the day before they pulled it for new customers . You dont want be remortgaging at the moment the deals out there are cr*p