12-04-2013, 06:53 PM
The same old shite is of course happening in Blighty.
The reimposition of 80% of value mortgages with 20% down as a deposit has removed rampant speculation from the UK housing market, and thus house prices are flat or even down.
So, the govt is now introducing lots of idiotic schemes to increase the amount which can be loaned and to enable buyers to take out another loan to pay for the deposit!!!!
If you borrow 80% of value (eg £240K) and 75% of the deposit (eg £45k), you're putting down 5% of the total value and getting a 95% mortgage.
The jumbo 110% of value loans are even making a comeback.
By the time this blows up, the architects of the catastrophe will have collected their huge bonuses and enormous pensions, and be sunning themselves in a tax haven somewhere...
The reimposition of 80% of value mortgages with 20% down as a deposit has removed rampant speculation from the UK housing market, and thus house prices are flat or even down.
So, the govt is now introducing lots of idiotic schemes to increase the amount which can be loaned and to enable buyers to take out another loan to pay for the deposit!!!!
If you borrow 80% of value (eg £240K) and 75% of the deposit (eg £45k), you're putting down 5% of the total value and getting a 95% mortgage.
The jumbo 110% of value loans are even making a comeback.
By the time this blows up, the architects of the catastrophe will have collected their huge bonuses and enormous pensions, and be sunning themselves in a tax haven somewhere...
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war