SMF - Just Installed!

Borrowing

Started by Badger, September 13, 2007, 01:37:23 PM

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Badger

Banks have been told to be less sympathetic and more strict on lending money out.  What do you think,
Most agents are saying people are going to need to come up with bigger deposits to purchase !

Badger

propertyfag

That's definately a good thing. They need to be way more strict.

A lot of lenders took advantage of the property boom. As soon as property fever hit the minds of people, lenders knew they could attract a whole new cliental of people with 100% mortgage policies and 10% deposit policies.

Repossession rates are ridiculous at the moment, because people took out unrealistic policies, thinking they could aford these crazy policies.

Additionally, a lot of lenders have gone into administration lately because a lot of their clients couldn't afford the monthly payments. So it's obvious why they're starting to be more strict.




Badger

Dam was going to ask Natwest for 20k next week lol


Badger

propertyfag

haha

Badgey, you could probably juggle a few interest free credit cards and get that 20k! Or at least the majority of it!